CRED gets into personal lending with Stash ft. @kunalb11 & @IDFCfirstbank

Aditya Kshirsagar
2 min readJun 17, 2020


A few months back, I had written about why I am optimistic about CRED. Today, Anmol Maini published a superb piece on CRED, asking a poignant question: unicorn or popcorn? We both agree on one thing, at the crux, Kunal’s CRED solves one problem for users: the ability to pay credit card bills seamlessly. As long as this feature exists with email and WhatsApp notification and there is no competition, CRED has a user in me.

CRED messaged me a few hours back that I am now eligible for Stash benefits. In a nutshell, CRED is getting into personal lending in partnership with IDFC FIRST bank at a competitive interest rate between 12–14.5%.

I have tried the app, and it is quite transparent with its flexible EMIs. A few things that friends explained to me:

  1. An interest rate between 12–14.5% is competitive
  2. Usually, unsecured preapproved loans get the rate mentioned above
  3. A personal unsecured loan is pegged above 18%
  4. This percentage is okay for personal but high for a home loan

Would I use this service? I don’t think so. Cooperative banks give me an overdraft facility against my fixed deposit at a much better rate. Also, my credit cards have a decent limit so I doubt I need to borrow from another player. Nevertheless, good to know that I have options.