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Credset Business Loan
Credset, a fintech platform, offers a product known as Credset Business Loans. This product is aimed at small and medium enterprises (SMEs), connecting them with lenders who present tailored and adaptable credit solutions. The loans are intended to fund SMEs' working capital, business expansion, or other business-related needs.
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Credset Business Loan
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Credset Business LoanHere are a few factors
| Location | Delhi-NCR |
| CIBIL Score | 650+ |
| Processing | Offline |
| Business Vintage | 2 Year |
| Minimum Turnover | 20 Lac+ |
| Loan Amount & Tenure | 2
Lac-10 Lac ( 6 Month to 24 Month) |
| Loan Product | Fixed EMI Based |
| Rate of Interest & Type | 18% to 24% (Fixed) |
| TAT | 3 Days |
| Processing Fees | 4% |
| Foreclosure Charges | 4% |
| Applicant Type | Any Self Employed Person |
| Whether Co-Applicant Mandatory | No |
| Proprietor Age/Co-Applicant Age | 21 Year-65 Year |
| Part Payment Allowed | Yes |
| Whether Ownership Proof Required | No |
| Business Registration Proof Mandatory | No |
| Program | Income Program-10 Lac |
| Product for Professionals | No |
| Negative Profile | No |
| USP | No Negative Profile |
Credset Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 16 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,073 |
| Total Interest | ₹ 8,877 |
| Loan Amount + Interest | ₹ 108,877 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,530 | ₹ 3,689 | ₹ 27,219 | ₹ 76,470 | 23.53 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,471 | ₹ 5,186 | ₹ 81,657 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Credset Business Loans
Documents Required
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Copy of GST registration
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Copy of Last 12 month GST return
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2 Reference with contact details
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
Note : Credset Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
About Credset Business Loan
Choose a financing plan that supports strategic growth while simultaneously providing funds. Credset Business Loan offers the tools for transforming your concept into a practical reality, whether you're expanding operations or starting new initiatives.
Beyond the realm of funds, Credset is a partner committed to your success. This is a collaboration that extends beyond business transactions to take your company to new heights with affordable rates, flexible repayment alternatives, and a dedication to your success.
Let your dreams soar as you make the most of the Credset Business Loan's possibilities and lead your company to a prosperous and successful future.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
Credset Business Loan is a service provided by Credset, a fintech platform that links SMEs with lenders for customized and flexible credit solutions. These loans serve the purpose of meeting working capital, expansion, or other business needs.
The application process for Credset Business Loan involves visiting the Credset website and filling out an online application form. Basic details about your business along with some necessary documents, such as KYC, business proof, and financial statements, need to be submitted.
The criteria for eligibility includes that your business should be a registered proprietorship, partnership, LLP, or private limited company, have been operational for at least 12 months, possess a minimum annual turnover of Rs. 10 lakhs, and maintain a positive net worth, cash flow, and good credit history and score.
Interest rates start at 18% per annum. A processing fee up to 2% of the loan amount plus GST is charged, while foreclosure fees are nil after six months of repayment. There are also no part payment fees, but late payment fees are 2% per month on the overdue amount.
Loan amounts can range from Rs. 50,000 to Rs. 7.5 lakhs with a tenure spanning between 6 months to 36 months.
It takes about three days from application submission to loan disbursement. You should receive an approval decision within 24 hours, and the loan amount will be deposited into your bank account within 48 hours.
Repayment of Credset Business Loan can be done via monthly EMIs deducted from your bank account or using the online payment portal on the Credset website.
Loan status and balance can be checked by logging into your account on the Credset website or app. Customer care and support team can also be contacted for any queries.
After six months of repayment, the loan can be prepaid or part paid with no additional charges.
Once the loan is disbursed, alterations to loan amount or tenure are not permitted. However, prepayment or part payment of the loan can be done at your convenience.
KYC documents of the applicant and co-applicant, proof of business, and financial statements of the last 12 months are required for the application process.
The loan provides quick and easy access to funds, doesn't require any collateral or guarantor, offers flexible repayment options and low processing fees, has a transparent and hassle-free process, and uses a proprietary credit scoring model that evaluates your business performance
and potential.
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