Kissht: Instant Line of Credit ( Kissht – Avail personal loan for buying products on EMI )
Kissht app provides Instant Line of credit and allows small shop owners to receive and make payments through QR code and avail instant loans ranging from ₹ 10,000/- to ₹ 1,00,000/- basis their credit profile. APR varies from 14% – 28% per annum and loan tenure from 3 to 24 months.
Loan amount (Principal): ₹ 30,000.
Tenure: 12 months.
Interest Rate: 18% per annum.
Processing Fee (incl. GST): ₹ 750 (2.5%).
Total Interest: ₹ 3,005.
EMI: ₹ 2,750.
APR: 22.91%.
Loan amount is ₹ 30,000. Disbursed amount is ₹ 29,250.
Total loan repayment amount is ₹ 33,000.
Total Cost of the Loan = Interest Amount + Processing Fees = ₹3005 + ₹750 = ₹3755.
Kissht is India’s quickest credit app that offers instant QR based credit to small merchants to purchase their day-to-day inventory and grow their business. Small business owners can scan & pay utility bills such as electricity bills, DTH & Gas Bills, Fast Tag, post-paid bills & can access money on credit anytime in the form of cash in their account or by scanning QR to pay any vendor.
Benefits of applying for a personal loan from Kissht
- Easy repayment option
- Zero foreclosure charge
- Free Kissht EMI Card
Eligibility criteria required to be fulfilled
- You must be a salaried individual with a minimum salary of Rs.15,000 per month.
- Or you must be a self-employed individual with a minimum annual income of Rs.1.2 lakh.
Documents required to be submitted
- Copy of your Aadhaar Card
- Copy of your PAN Card
- 1 post-dated cancelled cheque
- Bank statements for the last three months
How to apply for a personal loan from Kissht ?
Given below are the steps you will have to follow if you wish to apply for a personal loan from Kissht:
- Visit the official website of Kissht.
- Click on ‘Apply Now’ located at the top-right hand side of the page.
- If you are an existing customer, then you can click on ‘Sign in’ and enter your mobile number or email ID followed by a password and log in. If you don’t want to log in using your password, then you can do so by generating a one-time password (OTP) on your mobile phone. Enter the OTP and you can enter the portal and apply for a personal loan.
- If you are a new user, then enter the details as required. Generate an OTP on your registered mobile number. Enter the OTP and click on ‘Register Now’.
- You can now use your login credentials to log in to the portal.
- Select the loan product you wish to avail. Upload the necessary documents as required by the lender. Once you have submitted the documents, the bank will verify them, and if they are satisfied that all the information provided by you is correct, the lender will disburse the loan amount to your bank account.
