Once your application is submitted and documents are verified, our team provides an in-principle decision subject to eligibility and credit assessment. Upon approval, funds are disbursed directly to your bank account.
A shopping loan from CreditPey comes with multiple features designed to make borrowing straightforward — competitive APR, flexible tenure, and a 100% digital process. Key features are as follows.
Once your application is submitted and documents are verified, our team provides an in-principle decision subject to eligibility and credit assessment. Upon approval, funds are disbursed directly to your bank account.
Repay via EMIs over a flexible tenure of 3 to 12 months. Choose a repayment date that aligns with your salary date. Pre-close at any time with zero pre-closure charges.
Interest rate: 1.25% to 2.60% per month. APR: 15%–34% per annum. Rate depends on your credit score and loan tenure. Reducing balance method applied.
No asset or property required. Shopping loan approved based on income (₹40,000+/month) and CIBIL score (650+). Fully unsecured personal loan.
All charges disclosed upfront in the Key Fact Statement — Processing fee: up to 10% + GST · Interest: 1.25%–2.60%/month · Pre-closure: NIL · Cheque bounce: ₹1,000. No fee collected before disbursal.
Timely repayment of your shopping loan is reported to credit bureaus (CIBIL, Experian), which can positively improve your credit score over time — helping you access better financial products in the future.
Follow these straightforward steps to apply for a shopping loan online — the entire process is paperless.
Eligibility for a Shopping Loan is based on your age, income, CIBIL score, employment type, and residential status. Meeting these criteria does not guarantee approval — all applications are subject to credit assessment.
| Age | 21 to 60 years |
| Income | Minimum ₹40,000 per month (net take-home salary) |
| Credit Score | 650 or above (CIBIL score) |
| Documents Required | Aadhaar Card, PAN Card, last 3 months' salary slips, last 6 months' bank statements, passport-size photograph. All documents can be submitted digitally. |
| Employment Type | Salaried employees in a private limited company, registered company, or government organisation |
Once your application is submitted and documents are verified, our team provides an in-principle decision subject to eligibility and credit assessment.
Processing fee up to 10% + GST · Interest 1.25%–2.60%/month · APR 15%–34% · Pre-closure NIL. All charges disclosed in Key Fact Statement before signing.
Apply from your phone or computer anytime — the entire process is paperless, from application to document upload, with no branch visits required.
Upon approval and document verification, the loan amount is disbursed directly to your registered bank account — no cash handling or branch visits required.