DigiCredit Repayment: What Every Borrower Needs to Know

If you're considering DigiCredit, you need to understand what repayment actually looks like before applying for any loan. The app promises quick approval and fast funds, but the real cost and timeline may surprise you. This complete guide covers tenure, all fees, and what to do when issues arise.

At a Glance

DigiCredit's repayment window is 62 to 120 days after disbursal. Interest rate is up to 36% per annum. Processing fee is up to 10% of loan amount, with 18% GST tax added. A Rs 10,000 loan costs Rs 11,180 in total repayment. Khosya Finlease Private Limited is the RBI-registered NBFC lender. DigiCredit is the platform, not the actual lender. Repayment happens automatically through e-mandate. Contact support@digicredit.in for any issues.

How long is the DigiCredit repayment period?

DigiCredit loans must be repaid within 62 to 120 days from disbursal, which is 2 to 4 months. This is much shorter than traditional personal loans that offer 12 to 36 months. The short window is the tradeoff you make for fast approval and minimal paperwork.

If approved on August 1st, your earliest deadline is mid-October, and your latest is late November. The exact date appears in your loan agreement and the DigiCredit app. Mark it in your calendar right after disbursal confirmation.

Compared to other lenders, DigiCredit's window is very short and requires quick planning. Fibe offers 90 to 180 days. Navi offers 12 to 60 months. Traditional banks offer 12 to 36 months. DigiCredit works best for salaried borrowers expecting bonus or year-end payouts. If you need 6 or more months to repay, this product isn't for you.

What's the true cost of a DigiCredit loan?

The advertised interest rate is only part of the real cost you'll pay. You also pay processing fees upfront, with separate tax added to those fees.

APR reaches 36% per annum. Processing fee is up to 10% of your loan amount. GST on the fee adds 18% extra.

Here's a real example using a Rs 10,000 loan. You apply for Rs 10,000. Processing fee (10%) is Rs 1,000. GST (18% of fee) is Rs 180. Money in your account is Rs 8,820. Total you repay is Rs 11,180.

You asked for Rs 10,000 but received only Rs 8,820, yet you owe Rs 11,180 at the end. This difference matters a lot when comparing DigiCredit to other loan products.

Calculate your cost this way with any amount. Take your desired amount and call it X. Processing fee is X times 10%. GST is processing fee times 18%. Net received is X minus both fees. Total repayable is X plus interest. Your agreement shows exact figures. Ask for precise numbers, not estimates.

How do you make a DigiCredit repayment?

Repayment works through an e-mandate that you sign during app setup before receiving funds. An e-mandate tells your bank to auto-deduct money on a set date. It's fully automatic after you sign it.

Before signing the e-mandate, check these important details:

Your bank account is correct and currently active
Repayment date matches your loan agreement exactly
Total amount is accurate and matches your application
E-mandate is active before your due date arrives
No other accounts are linked to this mandate

If your account does not have enough funds on the due date, the debit fails right away. You get a grace period (3 to 5 days) to pay manually through the app. After this period, late fees apply. Check the app status if payment fails. Email support@digicredit.in with your loan ID and phone. Pay manually within the grace period.

Some borrowers report loans marked "disbursed" without receiving any funds. The app still shows a repayment schedule and accrues interest on money never received. You don't owe money you never got. Check your bank statement to confirm credit received. Email support with your loan ID, phone, and bank statement copy. Request reversal and cancellation. If unresolved in 7 days, contact Khosya Finlease directly.

What happens if something goes wrong?

Problems range from failed payments to disbursement disputes requiring proper escalation. Follow this path for the best chance at resolution.

First: Email support@digicredit.in with loan ID and phone. Wait 1 to 3 business days. Second: If no help, contact Khosya Finlease directly. Find the address in your agreement. They issued the loan and set the terms. Third: If unresolved in 30 days, file a complaint with the RBI Integrated Ombudsman Scheme (RBI, 2024) per RBI consumer rules. The RBI oversees all NBFCs and can force action. Don't wait when issues arise. Contact support right away.

Is DigiCredit RBI approved?

DigiCredit itself is not RBI-registered. It's a Digital Lending App (DLA). The real lender is Khosya Finlease Private Limited, which holds RBI registration as an NBFC.

This matters because repayment terms, rates, and disputes are handled by Khosya Finlease, not DigiCredit. Your legal recourse is with the NBFC lender.

Check Khosya Finlease status at the RBI's NBFC registry (RBI, 2024) by searching for the company. Active listing confirms it's regulated. Per the RBI's 2022 Digital Lending Guidelines, all DLAs must disclose their NBFC partner upfront. DigiCredit does this, which is good.

Frequently Asked Questions

What is DigiCredit's interest rate?

DigiCredit charges up to 36% APR yearly. Your exact rate depends on credit score and income. Different borrowers get different rates within this cap. Khosya Finlease sets the rate based on risk.

How much do fees reduce my loan amount?

Processing fee is up to 10% of the loan amount, plus 18% GST on that fee. A Rs 10,000 loan loses Rs 1,180 in upfront fees, so you get Rs 8,820 but owe Rs 11,180. Check exact figures in your agreement before accepting.

Can I repay early?

Most NBFC loans allow early repayment, though some charge penalties. Check your loan agreement or email support@digicredit.in to confirm early payment options.

What if I miss the repayment date?

You will face late fees and default interest charges. Your credit report shows a default, damaging your score and future loans. Contact support immediately if you cannot pay on time.

Is DigiCredit safe to use?

DigiCredit shows legitimacy markers: over 100,000 downloads, 4.5-star rating from 5,300+ reviews, and RBI compliance. However, Google Play reviews show loans marked "disbursed" without funds reaching accounts. Always confirm disbursal in your bank statement.

What if my loan shows disbursed but money never arrived?

Contact support@digicredit.in immediately with loan ID, phone, and bank statement. If unresolved in 7 days, escalate to Khosya Finlease or file a complaint with the RBI Integrated Ombudsman Scheme.

How does DigiCredit compare to other short-term loans?

Fibe offers 90 to 180 day periods. Navi offers up to 60 months. Traditional banks offer 12 to 36 months. DigiCredit's 62 to 120 day window is ultra-short. It suits borrowers with immediate needs and near-term repayment ability.

What should I do before applying?

Review loan app comparisons on BankCreds before deciding. Calculate your total repayment cost using the formula. Confirm you can repay within 62 to 120 days. Verify Khosya Finlease is RBI-registered. Never share Aadhaar or PAN until verified.

The Bottom Line

DigiCredit fills a narrow need for salaried borrowers who need urgent funds and can repay within 2 to 4 months. The cost is high at 36% APR plus upfront fees. Use BankCreds loan comparisons to evaluate alternatives before applying. Understand the full repayment cost and timeline in your agreement. When your due date arrives, ensure your account has funds and confirm the e-mandate is active. If anything fails, escalate using the steps above. Check our RBI approved loan apps list to compare DigiCredit with other regulated lenders in India.