Small Credit

Small Credit does not directly participate in lending activities, but only provides a platform to facilitate registered non-bank financial companies (NBFC) or banks to lend users



One of our primary partner NBFCs – Thayer Overseas Finance Limited is a Systemically Important NBFC within the group companies carrying the Small Credit brand.



Small Credit app provides online of credit and allows users to receive and make payments through Bank Account and avail online 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.




Example of Credit for Users

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.




Small Credit is India’s online credit app that offers Online Bank based credit to users to purchase their day-to-day inventory and grow their business. Users 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.




Types of Online Line of Credit Offered by Small Credit




1. Revolving line of credit: Small Credit offers quick line of credit for salaried individuals. The loan amount ranges up to ₹30,000 with tenure from 3 to 15 months, based on the individual's credit profile and APR is between 16% and 26%. Customers can repay and reuse the credit line limit for next 2 years, till the customer. To incentivize better credit behavior, the customer is offered a reduction in fees and waiver on instalments upon timely repayments.




2. Instant credit to small business purchases: Small Credit works with multiple RBI registered NBFC's for providing loans to small merchants. Facing last-minute expenses or working capital requirements, shortfall of cash to stock up inventory or regular expenses such as salaries/bill payment? opt for Small Credit loans from ₹10,000 to ₹1,00,000 disbursed into your account at easy and affordable interest rates ranging from 15% to 25% p.a. and processing fee in a range of 2% to 5% for the tenure up to 24 months




*Interest Rate and fees vary based on customer's current risk profile




Examples of Instant line of credit, small business loans & Interest rates offered by Small Credit




1. Revolving Line of Credit: Salaried customer can avail quick personal loan of ₹30,000 at interest rate of 18% with processing fee of ₹750 for tenure of 12 months. APR is 22.91%.

Loan amount (Principal): ₹30,000; Interest Rate: 18% per annum; Tenure: 12 months

Interest Payable: ₹3,005,

EMI: ₹2,750 per month, Total Repayment Amount: ₹33,000.

2. Instant line of credit to small business: Self-employed can avail a credit line of

₹1,00,000 for a period of 2 years. Over two-year period, the total fees (includes processing fees and one-time initiation fee) charged is 9%. The interest rate is 18% per annum, APR for the revolving credit line is 27.54%.




Users & Small Businesses who have benefited and availed instant line of credit from Small Credit




How to apply for Small Credit credit line

1. Install Small Credit app

2. Register with mobile number & accept basic permissions

3. Submit KYC documents for instant credit check

4. Sign online loan agreement from approved NBFCs5. Get instant loan approval and money is transferred to your bank account




Why Choose Small Credit for Line of Credit

✔ reasonable interest rates and processing fees

✔ Online loan approval in a day

✔ No collateral & credit card required




Our contact details:

Email: infoloan.servicecontact@gmail.com




Address:

A 9 Central Market Madangir New Delhi Delhi India 110062