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Credit line (loan)

  • Thread starter Thread starter praful47
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praful47

TF Legend
I am using slice as an emergency funds.
Slice features :
We can borrow desired amount 24/7 with minimal processing fees.
If we pay within 1 month then no interest.
Otherwise it will be converted into 12 months EMI .


I am using it since 2years .
Now , I got little bit worried as my current EMI is with Quadrillian finance and vivriti capital.
Today I tried to borrow and slice is financing with new lending partner north east small finance bank .
I talked with cc they said that new account will be created and the previous account will only be closed when you permanently close slice .

I don't want to clutter my cibil with too many loan accounts .
I searched for indie credit line but found that there are many negative experience of people .

Please suggest some substitute of this kind of features.


@SSV @Vasuki @yusuf646 @doraemon
@raghu.rokda
Please help me out .
 
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I am using slice as an emergency funds.
Slice features :
We can borrow desired amount 24/7 with minimal processing fees.
If we pay within 1 month then no interest.
Otherwise it will be converted into 12 months EMI .


I am using it since 2years .
Now , I got little bit worried as my current EMI is with Quadrillian finance and vivriti capital.
Today I tried to borrow and slice is financing with new lending partner north east small finance bank .
I talked with cc they said that new account will be created and the previous account will only be closed when you permanently close slice .

I don't want to clutter my cibil with too many loan accounts .
I searched for indie credit line but found that there are many negative experience of people .

Please suggest some substitute of this kind of features.


@SSV @Vasuki @yusuf646 @doraemon
Please help me out .
I never had any experience of any of these..
Have you considered CRED loan??
 
It is actually called " CRED Cash" ... Do some research.. this may work for you..
Login to your CRed and find out how much offer you got ..

View attachment 57286
I too have a similar offer but never took it. In fact, there is a new offer which gives 500rs CB if I avail 10k loan and return it within 1 month. Icing on the cake is that there is no interest. There is of course processing fee, which will be offset by the CB and I still make a profit without investment.
 
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For 2k it was ₹80
It's still higher right? You can consider wallet loading to Slice from one of your credit card.

Slice only charges 2.05% for loading money via credit card & if you have Amazon Pay ICICI credit card then you'll get 1% cashback so the effective charges will be only around 1%.

Or if you really need loan then I'll suggest Navi or CRED Cash.
 
It's still higher right? You can consider wallet loading to Slice from one of your credit card.

Slice only charges 2.05% for loading money via credit card & if you have Amazon Pay ICICI credit card then you'll get 1% cashback so the effective charges will be only around 1%.

Or if you really need loan then I'll suggest Navi or CRED Cash.
I understand, charges would be low .
But If I fail to pay within a month then ?
That's what I like about the slice , we can clear dues anytime , within a month , two three upto 12 months .

But , if they will keep creating new accounts in the CIBIL with different lending partners ... Don't you think it will hamper my credit profile ?
 
I understand, charges would be low .
But If I fail to pay within a month then ?
That's what I like about the slice , we can clear dues anytime , within a month , two three upto 12 months .

But , if they will keep creating new accounts in the CIBIL with different lending partners ... Don't you think it will hamper my credit profile ?
If they would not create new account , then it's best for me ...
Similar , features I am searching but only with one lending partner .

Like credit line alloted 50 k .
I borrowed 5k this month and returned after 2 -3 months then interest would be charged for only on those 3 months. Then again borrowed 15k and returned in 6 months .
So , this kind of features I am searching.
 
I understand, charges would be low .
But If I fail to pay within a month then ?
That's what I like about the slice , we can clear dues anytime , within a month , two three upto 12 months .

But , if they will keep creating new accounts in the CIBIL with different lending partners ... Don't you think it will hamper my credit profile ?
If you are unable to pay the total due, here are your options:

1. Convert to EMI: You can convert your transaction to EMI for your desired tenure.

2. Card Turnover: You can pay one credit card's due using another credit card through a wallet load. This way, you'll get an extra month for a small wallet loading fee. You can even do this with a single credit card if you have the required limit available.

3. Last Option: If you don't want either of the above options, you can simply pay the minimum due on your credit card. I don't recommend this method because credit cards charge up to 42% annual interest on your remaining dues.
 
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