Looking for a personal loan for your urgent needs? Get up to 5 lakhs of personal loans instantly with KreditBee. It offers loans at the lowest interest rates and flexible repayment tenures.
Let’s get to know more about the KreditBee personal loan.
KreditBee Personal Loan Overview
KreditBee Personal Loan
5/5
How Does KreditBee Work and Offer Loans?
KreditBee is a platform that helps borrowers get the best personal loans as per their needs and preferences. It has partnered with some RBI-registered Banks/NBFCs to finance the loan amount.
That means the loan amount gets approved and disbursed to the borrowers through KreditBee’s lending partners. Here KreditBee works as a third-party platform that lets you apply for a loan and get approved from their NBFC partners.
Applying for a personal loan on KreditBee is simple and the complete process is digital. You just need to choose the type of personal loan you need and check your eligibility. If you’re eligible, apply for it.
After that, your application is processed from KreditBee to their lending partner for further verification. Once your loan gets approved, it takes less than 10 minutes to disburse the loan.
Types of KreditBee Personal Loans
Personal Loan for Salaried: To salaried persons, KreditBee offers instant personal loans of ₹10,000 to ₹5 lakhs with a flexible repayment tenure ranging from 4 to 24 months.
Personal Loan for Self-Employed: To self-employed and business professionals, KreditBee offers the best personal loans of ₹10,000 to ₹2 lakhs with a repayment tenure of 4 to 24 months.
Flexi Personal Loan: To the persons who need money urgently, KreditBee offers flexi or instant personal loans ranging from ₹3,000 to ₹66,000 with a repayment tenure of 3 to 10 months.
Features and Benefits of KreditBee Personal Loan
Low-Interest Rate: KreditBee offers instant personal loans at the lowest interest rate as compared to other platforms that offer loans through NBFCs. The minimum interest rate for KreditBee personal loans starts from 16% per annum.
No Collateral Required: KreditBee offers collateral-free personal loans, which means you don’t have to give any security or asset to the lender against your loan. If you’re eligible, you can get a personal loan from KreditBee instantly.
Easy Online Process: To apply for a KreditBee personal loan, you don’t have to visit any branch location. The complete loan application process is digital. Even you won’t require any physical documents while applying.
Flexible Repayment Tenure: As KreditBee offers loans at the lowest interest rates, similarly it also provides easy and flexible loan repayment tenure. It provides 3 to 24 months of loan repayment tenure.
Instant Loan Disbursal: As soon as your loan application gets approved, the loan gets disbursed in less than 10 minutes. And, the loan amount is directly credited to your bank account, not to your KreditBee app or wallet.
KreditBee Personal Loan Interest Rate
| Types of Loans | Interest Rates (p.a) |
| Personal Loan for Salaried | 17% – 30% |
| Personal Loan for Self-Employed | 16% – 30% |
| Flexi Personal Loans | 24% – 30% |
For salaried individuals, the interest rates for KreditBee personal loans start from 17% per annum and can go up to 30%.
For self-employed and business professionals, KreditBee offers instant personal loans at interest rates starting from 16% per annum and a maximum of 30% per annum.
KreditBee provides flexi personal loans at an interest rate ranging from 24% to 30% per annum.
However, the rate of interest is determined depending on various factors, such as your credit score, monthly income, and repayment tenure. The credit score is the most important factor that determines your trustworthiness as a borrower.
A good credit score means that you are a reliable borrower, resulting in getting loans at the lowest interest rates. Anyway, let’s now talk a bit about KreditBee personal loan EMI.
Suppose, you borrow ₹1 lakh for 24 months with an interest rate of 17%, then your monthly EMI would be ₹4,944 and the total interest you’ll have to pay for the loan with this repayment term is ₹18,661.
If you wish, you can calculate your KreditBee personal loan EMI through the below EMI calculator.
KreditBee Personal Loan Charges
| Types of Charges | Applicable Amount |
| Processing Fees | ₹85 and a maximum of up to 6% of the loan amount |
| Prepayment Charges | Zero |
| Late Payment Fees | Per day 0.2% of the loan amount |
KreditBee Personal Loan Eligibility
Eligibility Criteria
Age: 21 to 45 years
Employment Type: Salaried and Self-Employed
Monthly Income: ₹8,000 and above
Credit Score: 700 and above
Citizenship: Indian
Required Documents
Aadhaar card and PAN card
Last 3 months of bank statement
3 recent salary slips
Debit card or net banking to enable e-mandate
Is It Safe to Take a Loan From KreditBee?
Absolutely! KreditBee is a 100% safe platform to borrow credit in India. Since it is not a bank or financial institution, it does not finance the loan. It has partnered with some leading Banks/NBFCs who lend the credit to the borrowers.
And, all of their NBFC partners are registered with RBI, so you can rest assured that your transaction is processed securely.
Moreover, KreditBee is one of the popular loan apps that has over 7 crore downloads. Till now, KreditBee has disbursed more than ₹30,000 crore.
How to Get a Personal Loan From KreditBee?
Step 1: Click Here to apply for the loan. Once the link opens, enter some details such as your name, mobile number, PIN code, and PAN number, and then Submit it.
Step 2: After that, you’ll be redirected to KreditBee’s official website. Sign in with your mobile number and continue application.
Step 3: Fill in the required details and complete your KYC. Once done, wait a few minutes to get your application approved.
Step 4: If your application gets approved by the lender, tap on the loan amount you are eligible for and click on Get it now.
Step 5: After that, a new page will open up. There, enter the bank account details where you want to receive the loan amount.
Step 6: Once your bank is verified, agree to their terms and conditions and sign the loan agreement. Don’t forget to read the agreement carefully.
Step 7: After that, you can transfer the loan amount directly to your bank account. You can view it on your Kreditee account.
KreditBee Personal Loan Review
“KreditBee is a great platform for those looking for instant personal loans at the lowest interest rate. There is nothing to worry about its security because it offers credit through RBI-licensed NBFCs.
Its processing fees and other charges are okay, but its repayment tenure is not flexible for everyone because its maximum repayment tenure is 24 months (2 years).
However, its application process is simple and easy. It does not require so many documents and the chances of getting the loan approved are very high.” – Review by Ashim
| Specifications | Ratings |
| Features and Benefits | 5/5 |
| Interest Rate | 4/5 |
| Fees and Charges | 4/5 |
| Repayment Tenure | 3/5 |
| Overall | 4/5 |
Frequently Asked Questions
Q. Can I foreclose my KreditBee loan?
Yes, you can! KreditBee does not charge fees if you prepay the loan amount before its repayment tenure is over.
Q. How to increase the KreditBee loan amount?
Unfortunately, you cannot increase your KreditBee personal loan amount. It is determined by the credit lender based on some factors such as credit score, monthly income, and loan duration.
Q. Can KreditBee take legal action?
Yes, it can! If you don’t pay your KreditBee loan EMIs, it can take legal action against you. Even it can tie up with collection agencies to get to repay the entire loan amount with applicable charges.