CRED's NBFC Arm Grows 156%: Is Your Instant Loan Safe?

CRED-backed NewTap Finance has grown its loan book at a stunning 156% CAGR since FY23. Before you tap 'instant loan' on any fintech app, here's what you need to know about NBFC lending, your rights, and hidden risks.

Here's what happened: CRED-backed NewTap Finance, an RBI-registered NBFC, grew its managed loan portfolio to ₹4,582 crore in FY26, expanding at roughly 156% CAGR since FY23.. The NBFC's total income nearly doubled year-on-year, reflecting rapid growth in instant, app-based personal lending to salaried and creditworthy Indian consumers.. CRISIL Ratings assessed NewTap's financials, highlighting improved return on assets — signalling that fast-growing fintech NBFCs are becoming a mainstream source of personal credit in India..

What you should do: Verify any NBFC offering you a loan is RBI-registered — check the 'List of NBFCs' on rbi.org.in before accepting any instant loan offer from a fintech app.. Compare the annualised interest rate (APR) on any app-based loan against your bank's personal loan rate — fintech NBFC rates can be 2x to 3x higher for the same loan amount.. Read your loan sanction letter carefully to identify who the actual lender is — in managed AUM structures, the app you see and the NBFC actually holding your loan may be different entities..

If your fintech lender transfers your loan to another NBFC mid-tenure, you must receive written notice — file a complaint with RBI's Sachet portal if you don't.