The total cost of developing an app like CRED will cost you between $15,000 to $60,000.
Quite a difference, isn’t it? It completely depends on the technology chosen, the fee of the partner company, number of functionality, level of security etc. If a development partner company has already developed an app like Credit, it will cost you less. In this case, the Cred Like app will cost you around $10,000 to $35000. The White Label Credit app will cost you around $15,000 with one year of maintenance.
How much does it cost to build an app like CRED?
According to recent research from Goodfarm, the average cost of a native app is between $38,000 and $91,000. Medium-complexity apps range in cost from $55,550 to $131,000. A complex piece of software can cost between $91,550 and $211,000.
So, to give a general idea of how much it costs to build an app (assuming a $25 per hour fee), a basic app would cost around $90,000. Apps with medium complexity will cost between $160,000 and $170,000. Complex apps usually cost over $240,000.
| Type Of App | Cost | Time To Develop |
|---|---|---|
| Simple | $70,000-$100,000 | 3-6 Months |
| Medium | $120,000-$170,000 | 6-10 Months |
| Complex | $200,000-$250,000+ | 10+ Months |
Hourly Rate of CRED App Development Cost
| Region | iOS ($/hour) | Android ($/hour) |
| North America | 150 | 150 |
| Australia | 92 | 92 |
| UK | 71 | 71 |
| South America | 43 | 37 |
| Eastern Europe | 40 | 40 |
| India | 25 | 28 |
| Indonesia | 35 | 35 |
Time and money required to build an app like CRED!
To address this problem, it is important to understand that not all mobile apps are created equal. And inequality is not limited to the platform for which it was created. The time required to implement specific app features is calculated in a breakdown of both iOS and Android application development. Let us classify on the basis of proper timing requirements.
- A basic app with minimal functionality takes around 500-800 hours to develop. There is a time frame of 3-6 months.
- A medium-complexity software can take anywhere from 800 to 1200 hours to complete. Time frame: 5 to 9 months.
- In most cases, a complex time-consuming app takes more than 1200 hours to complete. Timeline: 8 months or more.
Related: Cost To Build Food Delivery App Like Zomato Or Swiggy
Cost Estimation Breakdown for CRED – Credit Card Bill Payment App
| Feature | Description | Approx time |
| Map | Detect user’s location search on the map Set pickup point on the map | 75 – 111 hours |
| Payments | See balance list of transactions add card Add PayPal | 60 – 78 hours |
| Streaming | Start/stop broadcast View broadcast Switch between broadcasts | 90 – 140 hours |
| Calls | Audio calls Video calls List of contacts | 257 – 365 hours |
| Feature | Description | Approx time |
| Map | Detect user’s location search on the map Set pickup point on the map | 75 – 111 hours |
| Payments | See balance list of transactions add card Add PayPal | 60 – 78 hours |
Location and Structure Development Team Cost.
As stated earlier, the location of your app development team has a significant impact on the final pricing of the product. The cost of developing an app in the United Kingdom will be different from the cost of developing an app in the United States and other regions.
| Title of Employee | United States | Latin America | Eastern Europe | Asia |
| Business Analyst | $110 – $205 | $45 – $55 | $40 – $63 | $30 – $42 |
| Architect | $198 – $292 | $60 – $72 | $50 – $77 | $35 – $48 |
| Project Manager | $133 – $233 | $55 – $66 | $45 – $70 | $35 – $48 |
| Jr. Developer | $105 – $111 | $35 – $44 | $25 – $42 | $18 – $24 |
| Mid-Level Developer | $132 – $140 | $30 – $52 | $35 – $56 | $24 – $35 |
| Sr. Developer | $154 – $163 | $45 – $55 | $45 – $70 | $30 – $42 |
| Lead Developer | $176 – $187 | $50 – $61 | $45 – $70 | $30 – $42 |
| Junior QA | $77 – $81 | $30 – $39 | $25 – $42 | $15 – $24 |
| Mid-Level QA | $99 – $105 | $35 – $44 | $30 – $49 | $20 – $30 |
| Senior QA | $143 – $169 | $40 – $50 | $40 – $63 | $25 – $36 |
| Graphic Designer | $79 – $163 | $40 – $50 | $35 – $56 | $25 – $36 |
The Cost of Maintenance a CRED App: Updated and Secured
Last but not least, think about how much it costs to maintain an app. It is standard practice to spend between 15% to 20% of the initial app development cost on maintenance each year. Bug fixes, new features, and getting ready for a new OS version are all examples of app maintenance expenses. It also depends on how many features you want to add each year and how complex they are.
In Conclusion
Lastly, This is the overall cost of developing an app similar CRED. We think this article meets your expectations about Estimate of Developing CRED app, if it doesn’t please let us know in the comments.
