How to Get Loan on CRED App 2024

The CRED app has become quite popular in India for easy credit card bill payments. Apart from that, the app also provides the facility of instant loans for its members. If you are a CRED member looking to get a quick loan, this blog post will guide you on how to get loan on CRED app 2024.

Eligibility Criteria for Loans on the CRED App

Before we dive into the process of applying for loans, let us first look at the eligibility criteria you need to fulfill to get loans on CRED:

1. Active CRED Member

Only active CRED members are eligible for loans on the app. So you need to download the app, register yourself, and start paying your credit card bills through CRED. Maintain a good track record of timely bill payments.

2. Minimum Credit Score

A good credit score is mandatory to get approved for loans on the CRED app. CRED generally requires a credit score of 750 or above to approve loans. Higher the score, lower the interest rate you get.

3. Age Limit

Your age should be between 21 years to 58 years if you want CRED to approve your loan application. This eligibility applies to salaried individuals as well as self-employed professionals.

Step-by-Step Process to Get Loan on CRED

If you meet the basic eligibility criteria mentioned above, follow these steps to get a loan easily through the CRED app:

Step 1) Open your CRED app and login to your account

Step 2) Tap on ‘Loans’ option visible on the home screen

Step 3) Check your loan eligibility amount that CRED offers basis your credit score

Step 4) If you wish to apply, choose the loan amount as per your requirement

Step 5) Fill in additional details for KYC purpose when prompted

Step 6) CRED will let you know if any additional documents need to be submitted for verification

Step 7) That’s it! Review loan details once and submit the application

Step 8) If approved, loan amount gets disbursed into your bank account within a few mins

As you can see, the how to get loan on CRED app is quite simple and paperless. Eligible members can get funds in their bank accounts in less than 10 mins!

Benefits of Getting Loan from CRED App

Here are some useful benefits that make getting a loan from CRED worthwhile:

  • Completely digital process without any paperwork
  • Eligible members have high chances of loan approval
  • Quick disbursal after loan approval process
  • Flexible repayment terms of 3 to 12 months offered
  • Competitive interest rates starting from just 1% per month

In addition, there are no hidden charges or processing fees when you borrow from CRED.

Loan Amount You Can Get on CRED

CRED offers loan ranging from Rs 50,000 going up to Rs 10 lakhs or more based on your eligibility, credit score, and repayment capacity analysis done by CRED algorithms.

Higher your credit score and credit limit across credit cards, higher the chances of getting approved for larger loan amount from CRED app instantly.

How to Check Loan Eligibility on CRED?

Checking loan eligibility is also easy on the CRED app. Just follow these instructions when you open the app:

Step 1) Tap on ‘Loans’ option

Step 2) You will see ‘Check Eligibility’ button if you haven’t applied for CRED loan before

Step 3) Tap the button and share basic details for credit analysis

Step 4) CRED runs various checks and displays the loan amount you can get approved for

This loan eligibility result is shown immediately without impacting your credit score. Using this, you can get an estimate of the how to get loan on CRED app amount possible for you.

Repayment Options for CRED Loans

CRED provides utmost flexibility when it comes repayment of loans taken from app:

  • Option to pay only interest component every month
  • Tenure up to 1 year offered for repayment
  • Part pre-payments allowed without any penalty
  • Option to pay from any source – salary, other bank account etc

Additionally, on timely repayments, the credit score tends to improve further making future loans more affordable.

How to Track CRED Loan Application Status?

Managing your loan once taken from CRED app is very convenient. To check the status of your application or loan account, simply follow these steps:

Step 1) Login to CRED app using your credentials

Step 2) Visit ‘Loans’ section visible on home screen

Step 3) Your loan application status as well as amount disbursed will be shown here

Step 4) Under ‘Account Summary’, check total approved loan amount, interest rate, EMIs due, payments done etc

So without having to call anyone or submitting request, you can self-check your how to get loan on CRED app status easily.


Here are the answers to the frequently asked questions about getting loans on the CRED app:

Does the CRED app provide loans?

Yes, the CRED app offers instant personal loans for its members through its ‘CRED cash’ feature. However, only eligible members can avail loan facility.

How do you get money from CRED?

Eligible CRED members can get quick loans directly disbursed into their bank accounts in just few minutes. The process is fully digital involving few steps like checking loan eligibility, applying for desired amount, submitting KYC details, and loan approval.

Can we close the CRED loan early?

Yes, CRED allows foreclosure or early loan closure without any extra charges or penalties. You can pay the outstanding loan beforehand through net banking, UPI, etc.

Is CRED cash available for everyone?

No, CRED cash or loan facility is offered only to members who meet the eligibility criteria set by CRED. This includes factors like credit score, age, credit card limit, payment history, etc.

What is the maximum limit of CRED cash?

CRED provides cash loans from Rs. 50,000 up to Rs. 10 lakhs based on internal credit risk analysis done for each eligible member. Higher credit scores and credit limits result in a higher quantum of loan amount approval from CRED.


We hope this article has given you complete information on How to Get Loan on CRED App. If you want a loan then you can try the CRED app.If you have any doubt you can ask us in the comment section.

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