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CreditVidya Personal Loan

CreditVidya Personal Loan

Last Updated : Nov. 4, 2022, 4:11 p.m.

Personal Loan

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    By connecting suitable borrowers with lenders, CreditVidya Personal Loan seeks to help lenders make the right credit choices. It assists first-time borrowers in analyzing credit from numerous sources and doing precise risk assessments. CreditVidya aggregates borrowers’ information from several data streams and provides customers with comprehensive credit analysis.

    Unlike traditional bureau scores, the CreditVidya approach is more powerful, allowing banks and NBFCs to approve 15% more people. Consequently, it enables lenders to reduce decision-making time, save expenses, boost profitability, etc.

    Dive deeper into this article to know more about CreditVidya Personal Loan in dept.

    CreditVidya Personal Loan Interest Rate

    You should be informed of the interest rate offered by the lender in order to determine whether the repayment process is cost-effective. According to the lender’s official website, personal loans are now available at an interest rate.

    Target SegmentSalaried and Self-employed individuals
    GeographyLender approved locations
    Min Loan AmountRs. 25,000
    Max Loan AmountRs. 3 lakhs
    Tenure3 – 48 months
    Rate of Interest15% - 36%
    Installment CycleMonthly EMI- 5th of Every Month
    CollateralNo Collateral
    Processing Fee3-3.5% (Approximately)

    Benefits of CreditVidya Personal Loan

    CreditVidya SDK enables clients to make use of the lender’s benefits. The following points outline the advantages of a CreditVidya personal loan. 

    Increase client base:CreditVidya SDK enables new customers with no credit history to obtain a loan.

    Reduce decision-making time: It allows you to make a decision in minutes rather than hours.

    Lower default rate:The default rate can be decreased by 33% by precisely estimating the borrower’s risk.

    What type of data does CreditVidya collect?

    CreditVidya seeks the permission of the mobile device owner before accessing their information. It cannot access the data if the customer refuses to grant permission.

    Mentioned below are the details that CreditVidya collects while applying for a personal loan:

    Text messages:CreditVidya solely gathers text messages about banks and e-wallets. Risk assessment preserves a record of financial activities such as credit and debit notifications.

    Information about your account:It collected account information to auto-fill all of the information while filling out the application.

    Mobile device:The mobile device’s information, such as operating system, model, unique device identity, profile, etc.

    Contacts:It gathers all of the information contained in the contacts.

    Monitor location: It keeps track of the location of your mobile device.

    Media: It just gathers picture metadata and does not collect media files or surplus.

    Apps:It keeps track of all the apps on your mobile device.


    CreditVidya is a leader in its field, assisting potential borrowers with credit analysis. It, however, uses machine learning, alternative data, and other technologies to assist a huge portion of the population. The CreditVidya Personal Loan has directly linked to banks and assists both salaried and self-employed customers in assessing for significantly smaller unsecured loans. Further, over 45 major banks and NBFCs used CreditVidya’s tools to manage the credit cycle from start to finish.

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