Learn how to manage Kissht loan repayment, explore payment methods, and understand key fees to ensure smooth loan management.
Repaying a Kissht loan can be simple and manageable with the right tools. Kissht offers flexible repayment options to suit your financial situation, helping you stay organised, avoid late fees, and maintain a healthy credit score. By understanding your repayment methods, you can take control of your finances and confidently meet your goals.
Managing your EMI payments on time is crucial to maintaining a healthy credit score and avoiding any unnecessary penalties. Kissht provides several convenient and secure ways for you to repay your loan, making the process simple and hassle-free. Each option is designed to fit your lifestyle, allowing you to choose the method that best suits your needs.
Here are some of the ways you can pay your Kissht loan repayment online easily:
Transferring your EMI through a bank is one of the most common and reliable methods for loan repayment. To make your Kissht loan repayment via bank transfer:
Log in to your internet banking account
Add Kissht’s payment account as a new beneficiary
Enter the necessary payment details, ensuring you input the correct loan account number and EMI amount
Verify all details before proceeding
Confirm the transfer, and your EMI will be successfully paid
Using UPI apps like Google Pay, BHIM, or PhonePe is another fast and efficient way to repay your Kissht loan. Here's how you can do it:
Open your preferred UPI app on your smartphone.
Select the option to make a payment.
Enter the UPI ID linked to Kissht’s loan repayment system (usually available on the Kissht payment portal or your loan account details).
Enter your EMI amount and review the payment details.
Confirm the transaction, and your payment will be processed instantly.
For those who prefer using mobile wallets, this is a convenient way to make your Kissht loan repayment:
Open your mobile wallet app (PhonePe, Google Pay, Paytm)
Navigate to the 'Pay Bills' or 'Loan Repayment' section
Select Kissht as the lender from the available list
Enter your loan account number, ensuring it’s correct
Review and confirm the payment details to complete the transaction
You can also pay through your bank’s mobile app, making it simple and secure:
Log in to your bank’s mobile app using your registered credentials
Navigate to the loan repayment or bill payment section
Select Kissht as your lender and link your loan account
Enter the required loan details and confirm the payment
For direct and secure payments, you can use the official Kissht payment gateway:
Visit the official Kissht loan repayment page on their website
Enter your loan account number and the EMI amount to ensure accurate processing
Choose your preferred payment method, such as net banking, debit card, or UPI
Confirm the transaction, and you’ll receive instant payment confirmation
Save the receipt for your records
Always make your payment before the due date to avoid late fees and potential impact on your credit score. Kissht offers a variety of flexible payment options to help you stay consistent with your repayments, making it easier to manage your loan and maintain financial discipline.
Calculating your Kissht loan EMI is an essential part of managing your loan repayment plan. It helps you understand how much you’ll need to pay every month, allowing you to budget better and avoid financial strain. Kissht uses a standard formula to calculate your monthly EMI, which considers the loan amount, interest rate, and the duration of the loan. By understanding how to calculate your EMI, you can get a clear picture of your financial commitment before you even apply for the loan.
To determine your EMI, the formula used is:
EMI = P x R x (1 + R)N / [(1 + R)N - 1]
Where:
P represents the principal amount of the loan
R is the interest rate per month, obtained by dividing the yearly rate by 12 and expressing it as a decimal
N is the total number of months for the loan repayment period
Let’s break it down using a simple example to make this process easier to understand.
Suppose you take a loan of ₹4,00,000 (₹4 Lakhs) from Kissht at an interest rate of 14% per annum for a tenure of 24 months. Here’s how you can calculate your EMI:
Loan amount (P) = ₹4,00,000
Annual interest rate = 14%
Monthly interest rate (R) = 14 / 12 / 100 = 0.01167
Tenure (N) = 24 months
Now, let’s apply these values to the formula:
EMI = 4,00,000 x 0.01167 x (1 + 0.01167)24 / [(1 + 0.01167)24 - 1]
EMI = 4,00,000 x 0.01167 x (1.01167)24 / [(1.01167)24 - 1]
EMI = 4,00,000 x 0.01167 x 1.319 / (1.319 - 1)
EMI = 4,00,000 x 0.01167 x 1.319 / 0.319
EMI = 4,00,000 x 0.01541
EMI = ₹6,164.37
So, your monthly EMI would be approximately ₹6,164.37. Over 24 months, the total repayment amount would be ₹1,47,944.88, which includes ₹47,944.88 as total interest paid over the course of the loan.
When repaying a Kissht loan, it's essential to be aware of the various fees and charges that may apply. These charges can affect the overall cost of the loan, so understanding them beforehand will help you manage your finances more effectively. Here’s a breakdown of the key fees associated with Kissht loan repayment:
| Fees and Charges | Details |
|---|---|
Processing Fees |
3% to 5% of the loan amount |
Foreclosure Fees |
NIL |
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Kissht is not directly regulated by the Reserve Bank of India (RBI), but it operates under the guidelines of RBI-approved lenders and follows legal and regulatory norms. It's important to ensure that any loan you take through Kissht is backed by a credible financial institution.
To obtain a No Objection Certificate (NOC) from Kissht, you need to complete your loan repayment in full. After clearing all dues, you can request the NOC from their customer support, which will be provided once your loan account is closed and cleared.
To explore settlement options for your Kissht loan, it’s best to get in touch with their customer support team. They can provide guidance on the available options and help you find a solution that works for your situation.
Eligibility for a Kissht loan includes being a salaried or self-employed individual, aged between 24 and 60 years, with a minimum monthly income of ₹15,000. These requirements ensure that you have the financial stability to manage loan repayments effectively.
Yes, Kissht is a safe app to use, as it follows stringent security measures to protect user data. It uses encryption and secure payment systems to ensure your information is safe. However, always download the app from trusted sources like Google Play or the App Store.
To get ₹40,000 urgently, you can consider applying for a personal loan through platforms like Kissht, which offers quick loan approval processes. Ensure you meet the eligibility criteria, such as having a good credit score and stable income, for faster processing.
Repaying a Kissht loan can be done via various methods, including bank transfer, UPI, mobile wallets, or through their official payment gateway. Make sure to select a method that suits your convenience and make payments on time to avoid penalties.
If a Kissht loan is not paid, late fees may apply, and your credit score could be affected. Continuous non-payment can lead to legal action or the loan being sent to collections, affecting your financial reputation and eligibility for future loans.