CRED’s brand films have received a lot of interest among spectators, from Rahul Dravid swinging his bat on the Indiranagar roads to Madhuri Dixit’s Kathak routine. CRED has become synonymous with paying credit card payments, but what else does the platform have to offer?
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The community now has over 7.5 million members, all of whom have credit ratings above 750, nearly three years after its inception. While CRED’s lifestyle offerings Store and Rewards have been extensively cover, it’s time to shine a light on some of the financial products launched in collaboration with banks and NBFCs.
CRED Cash and CRED Mint
CRED Mint is a new investment product develope in collaboration with Liquiloans, an RBI-registered P2P NBFC. It enables users to make the most of their spare cash by allowing them to invest between Rs 1,000,000 and Rs 1,000,000 and earn interest of up to 9% per annum. They can withdraw their money at any time and have it credited within one business day, as well as earn interest for the time invested with no penalties.
CRED Cash is a flexible credit line that was offer in 2020 in collaboration with regulated partners. Members of C Cash are pre-approve for an active credit line of up to Rs 5,00,000 without the need. For any papers, documentation, phone calls, or physical visits. CRED users can withdraw any amount from their allotted limit at any time of day or night. In three simple steps and instantly receive the desired amount in their bank accounts.
The community powers CRED Mint. Its investments will be lent out via CR Cash. Over the last year, members have grown to trust for emergency spending, with regulated partners disbursing over Rs 2,415 crore. Even on the Cash scale, loan default rates have historically been less than 1%.
Members can invest money in CRED Mint with confidence, knowing that it will only be give to people like them:
India’s most creditworthy individuals who knows keep their word. To further limit risk, the invest funds will be direct to an escrow account. Held by CRED’s NBFC partner, Liquiloans, and will be spread across 200+ borrowers on average. You can apply for CRED Mint early access here.
What does all of this mean for you? So now you have an incentive to be financially responsible and a creditworthy member of the CRED community. Apply to become a member and gain access to CRED’s financial and lifestyle products. Which are developed in collaboration with brands and organizations.