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Credy Line of Credit

Credy Line of Credit


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About Credy Line of Credit

Credy is a well known credit lending organization that provides instant loans to consumers for their variety of needs. Customers can get instant loans within 24 hours of application from Credy. The types of loans available from Credy are:

Personal Loans

Credy provides instant personal loans for personal reasons like wedding, household needs, travel, etc.

Education Loans

Customers can also get education loans for the school fees or college fees or coaching classes or higher studies or upgrading skills. Customers also have the option to convert the education expenses into easy EMIs.

Credit Card Refinancing Loans 

Customers get the option to refinance their outstanding credit card bill by taking a loan for the same from Credy. The customers can then repay the loan to Credy in easy and affordable EMIs and also save their credit score in the process.

Loans for Emergencies

Credy provides instant loans to customers in case of medical emergencies. The loan can be credited or disbursed within 24 hours of application and can be repaid in a maximum period of 9 months.

Loan in the form of advance salary

This type of loan is where customers get an instant loan from Credy in the form of advance salary i.e. when the customer needs funds immediately before the actual date of salary credit. Credy can also provide a loan in excess of the monthly salary if required by the customer. Customer can repay the same once his/her salary is credited or over a maximum period of 1 year.

Besides the above loan types, Credy also provides a continuous line of credit to its eligible customers.

What is Credy Line of Credit?

A line of credit can be explained as a combination of the features and benefits of a personal loan and a credit card. Customers can avail instant credit up to the sanctioned or approved limit and can withdraw from the same for their personal needs. The customers do not have to pay interest on the entire credit limit but only on the amount withdrawn from the same. This ensures a continuous availability of the renewed credit limit upon timely payment of dues or the EMIs for this facility thereby bringing the best of personal loans and credit cards together.

Eligibility for Credy Line of Credit

The eligibility criteria set by Credy for its line of credit is given below.

Employment Status

Line of credit can be awarded to any eligible applicant that is an employee or a self-employed person. The prerequisite is to have a continuous and reliable source of income of the applicant.

Minimum Salary

There are certain parameters set by the company to be eligible based on the income of the applicant. The details of the same can be sought from the customer care of Credy.


Credy is currently functional only in the following five major cities in India. These cities are,

  • Bangalore
  • Chennai
  • Pune
  • Mumbai
  • Hyderabad
  • Additional Requirement 

Another requirement for the person to qualify for a line of credit is to have the salary credit to the bank account.

Documents for Credy Line of Credit

Credy requires documents to be submitted electronically or in the digital format. The customers have to submit the documents along with the application form. The documents required to be submitted are mentioned below.

Identity Proof of the Applicant

Aadhaar Card


Voter Id

Address Proof of the Applicant

Aadhaar Card


Voter Id

Latest Utility Bills

Bank Statement

Municipal Tax Payment Receipt

Registered Rent/ Lease Agreement/ Sale Deed

  • PAN Card of the Applicant
  • Recent Photographs

(Aadhaar Card can be used as an Address Proof and Identity Proof both and the applicant will not have to submit any further document in such case.)

Features and Benefits of Credy Line of Credit

The various features and benefits of the Credy Line of Credit that make it a very attractive option for the customers are mentioned below.

Amount of Credit

The amount of credit that can be sanctioned to the customers will depend on many factors like the credit profile of the applicant, repayment capacity of the applicant, etc.

Interest Rates

Interest will be charged only on the amount that is withdrawn from the total credit limit assigned. Such rate of interest will also depend on various factors like amount of credit, tenure, customer profile, etc.


The tenure offered on line of credit facility is usually in the nature of short term loans. The customer is required to repay the credit taken within the tenure assigned for the same through EMIs. After repaying the credit availed, the credit limit is renewed and the customer can effectively enjoy the line of credit for the lifetime of the customer.

Processing Fees

Credy charges nominal processing fees for the line of credit facility. The details of the same can be obtained from the customer care service of the company.

Credit Score

Most banks and financial institutions provide a line of credit only if the credit score of the applicant is good as determined by a competent rating agency. Credy, however, provides such faculty to the applicants even if they have a lower credit score. The minimum credit score required by the applicants in such cases is 300.

Late Payment Charges

Credy charges a penalty in case a customer fails to make the timely payment of the EMI of the credit availed. The details of the late payment charges levied on the customer by Credy can be obtained from the customer care of the company.

Application Process of Credy Line of Credit

The entire application process of Credy is online including the documentation process. The details of the same are mentioned below.

  • The first step is to login or register with Credy.
  • The person will have to fill in the details like monthly salary, employment status , current EMI (if any) and after that the customer will have to fill the details like name, email id, address, mobile number and the confirmation for the representatives to call the customer.
  • After uploading the documents along with the application form, the application will be analyzed by the executives of Credy.
  • Upon satisfaction of the same, the application will be approved and the line of credit will be allowed to the customer.

FAQs on Credy Line of Credit

1. What is the customer care number of Credy?

The customer care number of Credy is 080 46805616.

2. What are the general steps involved in the line of credit application and disbursal process of Credy?

The general steps involved in the line of credit application and disbursal process of Credy are mentioned below.

  • First step is to apply for the line of credit
  • After that the customer will have to upload the documents
  • The representatives of Credy will come to the applicant’s premises for KYC verification
  • After successful KYC verification, customers will get the approval for the line of credit.

3. Does the applicant need to provide any collateral or guarantor for the line of credit?

The applicant will not need to provide collateral or a guarantor if the person matches the eligibility criteria set by Credy.

4. What are the various ways to make the EMI payments?

The various methods to make the EMI payments are,

  • Auto Debit
  • Online EMI Payment
  • Through Partner Payment Wallets
  • Cash

5. What is the immediate effect of delay or non-payment of EMI?

The immediate effect of non-payment or delay in payment of EMI is the reduced credit score. Such default is reported to the credit rating agencies and such agencies determine the customer to be of high risk which reduces the credit score of the customer.

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