Personal Loan

Izz-Pay is India’s first app which provide personal and educational loan within 15-20 mins. With the tap of a button, this app lets you borrow as little as Rs. 5000 or as much as Rs. 2 lakhs depending on your credit limit that is set by our banking partners. More importantly, you pay interest only on what you use.

Yes. You can transfer money from your app to your bank account and can use your regular ATM card to withdraw funds and use them as you wish or NEFT/IMPS to someone depending on your needs. The funds are yours.

You have to pay interest only on the funds you use. At the time of withdrawal, you can choose the terms of repayment, which can be anywhere between 3 months and 18 months. The repayment tenure you choose will determine your EMIs. The interest rate is equivalent to market rates for any ‘personal loan’ with zero collateral or security. It can be as low as 1.50% per month depending on the partner bank and the credit profile of the user.

Get approved for the limit now so that you can have money at your disposal whenever you need it. Once your credit limit is approved, you can access the funds 24 hours a day, 7 days a week at the tap of a button. The interest will be charged only on the amount you use and when you choose to use it. You will also get a Izz-Pay Smart Card along with the app that can be used like a regular debit card. Use the card for shopping online or offline and get reward points. Act now and have peace of mind!

Yes, the details of the rewards programme will be shared with you when you receive the Izz-Pay Smart Card through our partner bank.

Yes, it’s as simple as 1, 2, 3!
1) Download: Install our free app from the Play Store and tell us a little bit about yourself. In a few minutes, we will tell you if you qualify for Izz-Pay and your eligible credit limit.
2) KYC: Once you qualify, one of our agents, on behalf of our partner bank, will collect your documents at your house as a part of the KYC process.
3) Manage your money: You can easily apply for loan of your desired amount with just completing few formalities .

An average customer takes 10-minutes to qualify, after opening the app. The speed might vary depending on how fast you can type!

The same consequences of not paying your credit card bill or bank loans apply. The Reserve Bank of India has nominated 4 credit agencies (e.g. CIBIL) that track your financial credit scores. If you do not repay or delay your repayment, our partner bank will automatically report it to these agencies, which will record the information. This can lower your credit score. Once your credit score is affected, you will not only lose Izz-Pay access, but all your future loan applications will be negatively impacted. You might not be able to get loans easily to buy a house, a car or a two-wheeler or get a credit-card, as all the lending institutions in the country check with these agencies before approving your loan. The bank might also initiate legal recourse to recover the money from you. In short, please do not use the funds if you don’t think you cannot pay your EMIs on time!

Yes! However, the KYC verification process might be impacted on holidays.

You can Change/Cancel your request before the final approval from Izz-Pay team has been given.

We decide the credit limit based on your profile, income, credit history and other factors. This limit can be increased, decreased or blocked based on the bank’s credit policies and the details you give on the app about yourself.

Yes. It can increase if you pay your EMIs and bills on time. There is a very good chance that our partner banks will raise your credit limit provided you have not taken too many other loans or seen a significant reduction in your income.

Good question. A good credit score is one of the important criteria for you to get Credit Cards/Home/Car/2-wheeler in the future. Once you start using Izz-Pay and take out cash or EMIs and make timely monthly payments, you start building your credit history. In fact, taking credit and repaying them is the single most important way to improve your credit score. However, if you default or delay your monthly payments, your credit score will be impacted. Don’t worry, we will be reminding you regularly on your app so that you don’t miss your payments.

Anyone who meets the following criteria can apply:
Resident of PAN India
Salaried employees and self-employed professionals like doctors, lawyers, shop owners, business owners etc with a minimum monthly salary of Rs. 20,000
* 21 years of age and above
Before you open the Izz-Pay app, please have the following information handy:
Aadhaar Card
Pan Card
Bank statement of last statement