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.
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.