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Kissht is India’s fastest credit app where one can avail of purchase financing and a revolving line of credit with zero collateral. The purchase financing can be availed for mobile phones, laptops, cameras, & many more electronic gadgets. Further, 2 years revolving line of credit can be availed, akin to a credit card. With Kissht, bid adieu to your financial worries!
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Loan Types

1. Online Purchase Loan – Kissht is a one-stop destination to get your desired products like smartphones, laptops, cameras, and any latest electronics on EMI and repay within 3 months to 24 months tenure. This loan can be used to make purchases at Flipkart, Makemytrip, etc. The APR is between 14% and 24%.

2. Personal Loan – Kissht also offers Personal loans for salaried & self – employed
professionals for their various needs. The amount ranges from Rs. 3,000 to Rs.
1,00,000/- with a tenure ranging from 3 months to 15 months, depending on the
person’s eligibility. The APR is between 16% to 26%.

3. Revolving line of credit – Kissht also offers a credit limit for 2 years (24 months). This is a revolving credit facility, where the customer can avail the limit seamlessly for the next 2 years, till the customer is paying on time. To incentivize better credit behavior, the customer is offered waivers and a reduction in installment amount for timely payments. The customer can avail up to a credit limit of Rs. 30,000. The APR is between 20% and 28%.

Amount, Tenure, Fees &Charge

Loans range from ₹10,000 to ₹1,00,000 with tenure ranging from 3 months to 24 months. The APR ranges from 16 to 28% depending on the product availed, risk profile, and creditworthiness of the customer. Penalty charges are charged only when a customer defaults or delays their loan repayment schedule in spite of reminders. In addition to it, GST applies as per Indian laws.

APR Examples

1. A new salaried customer (low risk) can avail of a loan of ₹30,000 at an interest rate of 18% with a processing fee of ₹750 for a tenure of 12 months. The APR is 22.91%.
Interest Calculation
Loan amount: ₹30,000
Interest Rate: 18% per annum
Tenure: 12 months
Interest Payable: ₹3,005
Equally Monthly Instalments (EMI): ₹2,750 per month

2. Loan Amount: Rs. 20,000 for OnePlus 5 @ 16% interest rate per annum, Tenure of 6 months, Processing fee: Rs. 300. EMI amount: Rs. 3490/month. APR: 21.33%

3. Loan Amount: Rs. 48,000 for iPhone @ 20% interest rate per annum, Tenure of 15 months, Processing fee: Rs.1,200. EMI amount: Rs. 3643/month. APR: 24.03%

4. Customer availing a revolving line of credit of Rs. 25,000 for a period of 2 years. Over a two-year period, the total fees (includes processing fees and a one-time initiation fee) charged is 9%. The interest rate is 18% per annum. The APR for the revolving lines comes as 27.54%.

Features

1. 100% online (paperless) process
2. Minimal documentation
3. No Credit Card required
4. No collateral required
5. Secure transaction (128-bit SSL encryption)

Eligibility Criteria:
1. Indian citizen
2. Minimum age 21 years
3. Minimum income of Rs. 12,000

Documents:
1. Address Proof (either of AADHAR Card/Latest Utility Bill/ Valid Rent Agreement)
2. PAN Card
3. Last 3 Months Bank Statement
4. 1 Signed ECS Form for auto-debit

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