Kissht Personal Loan Preclosure – Charges & Process

Kissht may allow you to preclose your personal loan without any foreclosure charges. This makes it easier to repay the loan early without worrying about extra costs. It can help you save on interest and close your debt hassle-free, giving you greater financial flexibility.

Since there are no penalties, you can plan your repayment more flexibly and reduce your overall borrowing cost. However, it is still advisable to review your loan agreement or contact customer support to confirm any applicable terms.

If you are planning to preclose your Kissht Personal Loan, you must meet certain conditions to ensure a smooth and hassle-free process. Here’s what you need to check before proceeding:

EMIs Paid

Before requesting preclosure, ensure that you have paid the minimum number of EMIs as specified in your loan agreement. Lenders generally do not allow immediate preclosure, so check whether you meet this criterion.

Preclosure Request

You must formally request preclosure by contacting Kissht customer service or using their designated online channels. This helps initiate the process and ensures that your request is processed correctly.

Activity and Status of the Loan Account 

Preclosure is only possible if your loan account is active and not in default. If you have missed any EMIs or have outstanding penalties, you must clear all dues first before Kissht will allow preclosure.

Preclosure Statement

Before making the payment, request a preclosure statement from Kissht. This document provides a breakdown of the outstanding loan amount, any applicable charges, and the total payment required to close the loan. Reviewing this ensures you are aware of the exact amount needed for preclosure.

Single Transaction

You are required to pay the entire outstanding amount in one go. Ensure that you have the required funds available before initiating the process.

Approved Payment Mode

The preclosure amount should be paid using NEFT, RTGS, or any other approved method specified by Kissht. Using the correct payment method ensures that your payment is processed correctly and without delays.

Kissht’s Policies

If your loan was financed by an NBFC partnered with Kissht, the preclosure process might differ. In such cases, you may need to follow the financier’s specific preclosure terms and conditions. If you are unsure about your financier’s rules, you can contact Kissht for clarification.

By meeting these preclosure requirements, you can ensure a seamless loan closure process and avoid any unexpected delays or additional charges.

The preclosure process may differ depending on whether your loan is financed by Kissht’s NBFC, SiCreva Capital Services Pvt. Ltd. or another partner.

For Loans Financed by SiCreva Capital Services Pvt. Ltd.

• Email care@kissht.com to request the foreclosure link
   

For Loans Financed by Other Partners

• Contact your financer’s customer support to request foreclosure and get payment details (link/NEFT) if available

• If unable to connect, reach out to Kissht at care@kissht.com for assistance in coordinating with the lender
   

Preclosure via Kissht App

• Open the Kissht App and log in

• Go to the loan account section

• Select your active loan

• Choose the preclosure/foreclosure option (if available)

• Check the payable amount and applicable charges

• Complete the payment to close the loan
   

Actual steps may vary slightly based on app updates and lender policies. Check the official Kissht app or support for exact instructions.

 

Before you decide to apply for a Kissht loan preclosure, take the following advantages and disadvantages into consideration:

Advantages

• Interest Savings: By preclosing, you can save on future interest payments

• Better Debt-to-Income (DTI) Ratio: Eliminates debt obligations ahead of schedule, providing financial freedom and reducing your DTI ratio

• Improved Credit Score: Successfully closing a loan can positively impact your credit history
   

Disadvantages

• Reduced Investment Opportunities: Using a large lump sum to preclose your loan may limit your ability to invest in higher-return opportunities or meet other financial goals

• Reduces Available Funds: Paying off the loan in one go may strain your savings or limit opportunities for other investments

• Loss of Growth of Credit History: Regular EMI payments help strengthen your credit history. However, preclosing the loan removes this long-term credit-building benefit.

Here are some tips you can use to ensure a smooth and hassle-free foreclosure of your Kissht Personal Loan:

• Calculate Net Savings: Assess whether interest savings outweigh Kissht loan preclosure charges and potential investment returns

• Confirm Procedures: Understand the preclosure process thoroughly to avoid delays or misunderstandings

• Obtain Documentation: After preclosure, secure a No Objection Certificate (NOC) and ensure your credit report reflects the loan closure

• Seek Assistance: For queries or assistance, reach out to Kissht customer care team through any of the following points of contact:

  • Phone Number: 080 44745884 / 080 62816309

  • WhatsApp Number: +91 2248913631

  • E-mail ID: care@kissht.com

  • Address: 10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla West, Mumbai 400070
     

Contact details may be updated periodically. It is advisable to verify the latest information via the official Kissht website or mobile app before reaching out.

Preclosing your Kissht Personal Loan can be a strategic financial move if the benefits outweigh the costs. Carefully evaluate the associated charges and your financial situation before proceeding.