What is Kissht?
Kissht is a financial technology platform that enables instant, seamless credit for consumers to make purchases at digital points of sales. We help customers to buy latest mobile phones, laptops, consumer durables & many more on easy EMI without credit card. So the next times you want to buy the latest iPhone or Macbook or any of your favourite devices don’t let the lack of a credit option bother you.
What kind of products can I buy here?
Phones/ laptops/ electronics and even furniture. You name it, we’ve got it! From interiors for decor to products that increase the productivity in your life (like a laptop or a phone), we give loans for everything.
How is Kissht different from other players in the market providing EMIs on products?
Most of E-Commerce portals provide EMI on credit card. However, not everyone - especially young salaried & self-employed professionals - possesses credit cards. That is why Kissht provides loans on your debit card (savings account) after assessing applicants’ creditworthiness using machine learning algorithms, big data and Artificial Intelligence. We aim at easy access to credit for all on flexible EMIs without card.
Are the products on Kissht covered by warranty?
Absolutely! All products on Kissht are 100% original and are covered by the manufacturer’s warranty from the day of purchase.
How do I know whether I am eligible?
Any Indian citizen possessing Pan Card & earning more than 12.5k per month is eligible for Kissht instant loan. At Kissht, we do not measure creditworthiness through traditional channels such as your CIBIL score only. Instead, we study your digital footprint in addition to the information in the public domain such as your Aadhaar number and PAN card to assess how likely are you to repay your loan successfully. Positive spending habits such as paying bills on time, accurate personal information in public domain such as Aadhaar Card, and a good plan for repayment would increase your eligibility.
I don’t have an Aadhaar Card?
Unfortunately we will need to validate your Aadhaar Card number to process the application further. You are required to hold a valid Aadhaar card number in order to complete the application for Kissht loan.
I do not have Netbanking on my account. Am I still eligible?
Yes, you are still eligible for a loan. You have to upload the last 3 months of bank statement and you are good to go.
I do not have a bank account but can pay in cash. Am I still eligible?
Sadly, you are not eligible in that case. Uploading bank statements is an important part of our process, without which our systems cannot assess the credibility of your loan application.
Are there any hidden charges that I should be aware of?
No, there are no unpleasant surprises in the form of hidden charges at Kissht. Our pricing is absolutely transparent.
At what stage do I make the down-payment?
You have to make the down-payment and processing fee before completing the loan application. We will process your application after the payment is made.
What if my loan does not get approved after paying the processing fee and down-payment fee?
Don't worry, we will refund your entire amount if your loan is not approved from our side.
What is EMI?
While most months are easy, others aren’t. Unforeseen expense can take anyone by surprise and upset the monthly budget. That is why, we offer our customers the flexibility to skip paying an instalment in a tough month and pay it the next month for a small convenience fee.
If I buy a product from Kissht, how would I pay the EMIs?
We don’t want to bother our customers with nitty-gritties of EMI. That’s why we set up an Auto Debit Instruction from your savings bank account so that the instalments are automatically deducted from it every month.
Will late payment of the monthly installment invite some kind of penalty?
Well a late monthly payment invites a convenience charge along with it. The charge however will depend on your product price.
What happens if I don’t pay my monthly installment?
Like any other loan, all agreements are legally binding as per RBI regulations and not paying EMIs is a criminal offence in the Indian court of law. After you default on the loan, your personal information is sent to all credit bureaus and banks in India who then subsequently drop your credit score (or CIBIL score). It will become really hard for you to take any bigger loan from any Bank in India in the future as they will see that you have not paid EMIs in the past in your credit history.
What do I do re-payment in case my savings account doesn't have enough balance at the time of due date?
The required amount of balance must always be maintained at the time of due date for debiting the monthly payment. Insufficient balance would lead to a bounce of payment which is a criminal offence in the Indian court of law. It shall also attract a penalty (same as the convenience fee for a ‘no payment’) and affect your credit score adversely.
Do you have an option of pre-payment of the EMIs?
Yes, our customers can pre-pay the instalments without being penalized.
Can I extend the tenure of EMIs after taking a loan?
sorry, extending the tenure after a loan has been approved is not possible. :/
What happens if I skip a monthly instalment? Can I pay it at once the next month?
We strongly advise you not to skip paying an instalment. Defaulting on an instalment will dip your credit score and you will not be able to take further loans from any financial institution. Kindly get in touch with us for detailed guidance. You cannot skip the payment for a particular month. Skipping a payment will invite a convenience charges along with the monthly payment.
Once I have paid all the EMIs how do I get a confirmation?
We will send you a No Objection Certificate once you have paid all your EMIs.