KreditBee offered personal loans to young individuals up to Rs.5 lakhs as per the urgent requirement. The personal loan interest rate ranges start from 16% to 29.95% per annum for a repayment tenure of up to 24 months. You can enjoy quick disbursals directly into your bank account in 10 minutes with the least number of documents.
KreditBee Instant Personal Loan Highlights
|Loan Amount||Rs.3000 to Rs.5 Lakhs|
|Interest Rates||16% to 29.95% per annum|
|Processing Fees||Up to 6% of the loan amount|
|Loan Tenure||3 months to 24 months|
|Age Limit||21 years to 50 years|
|Minimum Income||Rs.10,000 per month (net)|
|Work Experience||For salaried personal loan- 3 months of work experience in an existing company|
KreditBee Personal Loan Features or Benefits
KreditBee is a widespread personal loan online lending platform in India, some of its key features include.
- Fast processing and disbursement- KreditBee typically disbursed funds to the borrower’s bank account within a few hours of approval.
- Flexible loan amounts- KreditBee offers personal loans ranging from Rs.3,000 to Rs.5 lakhs, depending on the borrower’s creditworthiness and eligibility.
- Minimal documentation- The requirement of minimal documentation makes it easy and convenient for borrowers to apply for and receive funds quickly.
- Easy repayment options- You can quickly repay the KreditBee personal loan amount in easy EMI with flexible tenure options.
- Secure and transparent- The loan application process of KreditBee is fully secured and safe and there are no hidden charges or fees.
- Available 24×7- Borrower can avail of personal loan from anywhere at anytime.
KreditBee Personal Loan Eligibility Criteria
The main factors considered by KreditBee for determining the personal loan eligibility criteria of their loan applicants are as follows.
- Citizenship- You must be an Indian citizen
- Applicant’s age limit- More than 21years and lower than 50 years
- Net monthly income- Rs.10,000 or more
- The borrower must have a good credit score
- Personal loan for salaried- A minimum 3 months of work experience is required in your current company
- A minimum family income of ₹25,000 is required for a salaried personal loan
Note:- If you’re not eligible for a personal loan due to a low CIBIL score. You can learn here ways to improve your CIBIL. Learn 10 assured ways to improve your credit score quickly.
KreditBee Personal Loan Interest Rate and Other Charges or Fees
The KreditBee personal loan interest rates can go up to 29.95% per annum.
|Particulars||Charges or Fees|
|Penalty Charges for Auto Debit||Levy a penalty of Rs.100.|
|Late Payment Charges or Fees||Flexi personal loan:
Personal loan for salaried:
*These charges are indicative and may change depending on your profile.
**The charges exclude GST and other applicable taxes.
Mandatory Documents Required for KreditBee Personal Loan
Following are the essential documents required to avail of different types of KreditBee personal loans.
1. Flexi Personal Loan/ Personal Loan for Self-employed
- A photograph (Selfie) is required
- Identity Proof- PAN Card
- Address Proof- Aadhar Card, Passport, or Voter ID
2. Personal Loan for Salaried
- A photograph (Selfie) is required
- Identity Proof- PAN Card
- Address Proof- Aadhar card, Passport, or Voter ID card
- You must need to provide proof of employment
- Bank statement of salary account
3. E-Voucher Loan
- Identity Proof- PAN card is compulsory
- Address Proof- Aadhar card, Passport, or Voter ID
Steps to Avail KreditBee Personal Loan Online
The steps for applying for a personal loan through the KreditBee are simple and quick. You just need to follow the mentioned below steps:
Step 1: Download KreditBee App- Install the KreditBee app from the play store.
Step 2: Register yourself- You can easily sign up using a mobile number.
Step 3: Enter basic information and check your eligibility- You need to fill in your basic details to check your eligibility. This process takes 3 to 5 minutes, but sometimes this process might take up to 1 day in case there is a detailed check that is required.
Step 4: Profile verification- After eligibility confirmation you need to verify your profile by uploading KYC documents and filling in additional details about yourself.
Step 5: Provide details of your bank account- You need to provide details of your bank account, and the profile will be verified depending on the authenticity of the documents uploaded.
Step 6: Choose loan amount and tenure- Once verified, you can choose your loan amount and tenure to avail personal loan through KreditBee.
Step 7: Loan directly disbursed into your bank account- After the Loan agreement is signed, the amount shall be disbursed into the bank account information provided by you earlier within 15 minutes.
Different Types of KreditBee Personal Loans
Different types of KreditBee personal loans are as follows:-
1. Flexi Personal Loan
Flexi Personal Loan is a short-term loan and simple loan option as per your convenience to cover small expenses (buy groceries, utility bills, etc). The amount is disbursed within 10 minutes of the application
- Loan Tenure: 2 months to 10 months
- Loan Amount: Rs.1,300 – Rs.1,00,000
2. Personal Loan for Self-Employed
Personal Loan for Self-Employed helps you in your business journey whether you’re looking for funds to start a venture or to cover additional expenses incurred in the business you’re building.
- Loan Tenure: 3 months to 12 months (1 year)
- Loan Amount: Rs.40,000 – Rs.1,50,000
3. Personal Loan for Salaried
Personal Loan for Salaried is disbursed to eligible salaried applicants and allows you to manage a shortage of funds. You can cover normal expenses, extra costs or meet any other uncertain expenses.
- Loan Tenure: 3 months to 24 months (2 years)
- Loan Amount: Rs.10,000 to Rs.4,00,000
- Minimum Required Income (net): Rs.10,000 or more p.m.
4. E-Voucher Personal Loan
E-Voucher Loan is offered to individuals to finance their seamless shopping (online/offline) experience on KreditBee partner platforms.
- Loan Repayment Tenure: 3 months to 18 months
- Loan Amount: Up to 2 lakhs
Pros and Cons of KreditBee Personal Loan
Following are the pros and cons of availing of a personal loan from KreditBee as per ratings and reviews of existing or previous users.
|Great customer service||Takes time for loan approval|
|The entire process is hassle-free||Interest rates are high|
|Great for short-term requirements||The user’s repayment information is not properly updated|
|Nice user interface|
|They provided various loan offers to their users|
KreditBee Personal Loan App: Ratings and Reviews
The rating given by the users for KreditBee Personal Loan App is amazing on google playstore, more than 5 crore users downloaded their app. You can read the below table for a quick review of this App.
|2.||Number of App Downloads||Above 5 Crore|
|3.||Number of Users Review||12,57,335|
|5.||App Size||10 MB|
|6.||OS Required||Android 4.4 and up|
|7.||App Permissions||Camera, Location, Microphone, SMS, Other|
KreditBee Personal Loan Customer Care Details
You can contact KreditBee personal loan customer care through one of the following ways:
- KreditBee Customer Care Contact Number- 080-44292200 / 080-68534522
- Email ID- firstname.lastname@example.org
- KreditBee Address- KreditBee, 16/3, Adarsh Yelavarthy Centre, opp to Frank Anthony School, Cambridge Layout, Jogupalya Bangalore, Karnataka, 560008 (India)
- Contact the media relations team- email@example.com
Suggestion- KreditBee offers personal loans to salaried or self-employed individuals at a starting interest rate of 15% p.a. Their ratings and reviews on google playstore are good, users are happy with their loan products and hassle-free experience but dissatisfied with the delay in loan approval. But, as per the user’s suggestion, it is more suitable for short-term loans. Please compare all lenders before availing of a personal loan from KreditBee.
Thank you for reading!