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Kredit Bee Personal Loan

Apply Kredit Bee Personal Loan

Max Tenure

2 yrs

Best Rate

18%

Processing Fee

3-4%

View Details

Features

  • Complete Online Process
  • Minimal Documentation
  • Faster Disbursal

Pricing

  • Processing Fee - 3 to 4 % of Loan Amount
  • Interest Rate Starting at - 18%

Documents Required

  • Proof of identity and proof od address - (Pan Card and AadharCard)
  • Proof of income - Salary Bank Statement
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KreditBee Instant Personal Loans – Eligibility, Interest Rates & FAQs

Kredit Bee is an instant personal loan platform that connects eligible borrowers with leading banks and NBFCs. Individuals can avail personal loans starting from Rs.1000 to Rs.3 lakhs through the Kredit Bee online portal.

KreditBee has partnered with KrazyBee Services Private Limited, a qualified NBFC, and other NBFC partners to provide lending. KreditBee works as a technology interface between licensed lenders and individuals, facilitating Personal Loans.

The documentation is simple, and the entire process, from registration to disbursement, takes less than 15 minutes. The application process is entirely online, and upon approval, the funds are immediately transferred to the user's bank account.

What Are The Types Of Personal Loans Available From Kreditbee?

KreditBee's lending partners offer a variety of Personal Loans ranging from Rs. 1,000 to Rs.3 lakhs. These loans are offered with varying repayment terms on the KreditBee Platform.

The following loan products are accessible through the KreditBee Platform:

  • Flexi Personal Loan: A Personal Loan with a ticket size ranging from Rs. 1,000 to Rs.1,00,000
  • Personal Loan for Salaried: A Personal Loan with a ticket size ranging from Rs. 10,000 to Rs.3 Lakh
  • Online Purchase Loans / E-Voucher Loans: A personal loan that allows you to purchase products directly on a merchant website. Credit limit based on your eligibility and price of the product.

KreditBee Personal Loans – A Snapshot

Interest RatesFlexi Personal Loan - 18-29.95% Personal Loan for Salaried - 15-29.95% E-voucher loans - 12-24%
Tenure62 days to 15 months
Loan AmountRs. 1,000 to Rs. 3 Lakhs
Processing feesFlexi Personal Loan: Flat rate of Rs. 85 to Rs. 1,250 Personal Loan for Salaried (for loan amount from Rs. 10,000 to Rs. 2 Lakhs): Rs. 500 to up to 6% of loan amount Online Purchase Loan/E-Voucher Loan: Up to 5% of loan amount
Minimum Net Monthly IncomeFlexi Personal Loan: Rs. 10,000 Personal Loan for Salaried: Rs. 15,000

KreditBee Personal Loan – Application Process

It takes less than 15 minutes to apply for a Personal Loan through the KreditBee Platform. It is simple, quick and easy. Just follow the below steps:

a. Download the KreditBee app from the Play Store.

b. Sign up using your Facebook or Google account.

c. Enter your basic information to see if you are eligible for a Personal Loan with KreditBee. This process should take no more than 3-5 minutes, following which you will be directed to a 'eligibility successful' page. An SMS indicating the same will also be sent to your registered mobile number. (This process may take up to 24 hours if a detailed check is required.) In such circumstances, you will receive a call from Kredit Be within one business day of submitting your application)

d. Once your eligibility has been confirmed, you will be required to upload your KYC documents and provide some further information about yourself. It should take you no more than 5-10 minutes to complete the same task.

e. Once you've uploaded the KYC documents and any supporting documentation, the profile will be confirmed based on the validity and quality of the documents.

f. After you have been validated, you can apply for a loan through KreditBee and sign a loan agreement. After you sign the loan agreement and submit the loan application, the funds will be transferred to the bank account you specify within 15 minutes.

Who is eligible to apply for a personal loan with Kreditbee?

1. Any Indian citizen over the age of 21 who is salaried or has a monthly source of income may apply for a Personal Loan using the KreditBee Platform

2. An acceptable credit score as set down by the lending partners

3. A healthy repayment history

What are the documents I need to submit to get the KreditBee Personal loan?

Applicants applying for a KreditBee personal loan must submit two types of documents:

a. PAN: Your PAN information is collected in order to calculate your credit score and other financial metrics.

b. Address and Identity Proof: Copy of your Aadhaar, masked e-Aadhaar, Passport, or Voter ID are accepted.

c. Each user must present their PAN card together with one of the above-mentioned documents as Identity and Address Proof.

c. Please keep in mind that submitting Aadhaar is entirely optional, and you are free to use any of the other options listed above.

KreditBee Personal Loan Repayments

  • KreditBee offers comfortable repayments of 62 days up to 15 months to repay your personal loan
  • Repayments can be done on the KreditBee app using Net Banking, Debit Card, UPI, Paytm Wallet and Bank Transfer
  • You have the option to pre-close the loan by paying the entire outstanding in full, without any additional charges
  • You can also opt for the auto-debit option to make payments automatically

Interest Rates, Charges & Fees – Kreditbee Personal Loans

Interest rate

Flexi Personal Loan18-29.95%
Personal Loan for Salaried15-29.95%
E-voucher loans12-24%

Processing Fees

Flexi Personal LoanFlat rate of Rs. 85 to Rs. 1,250
Personal Loan for Salaried (for loan amount from Rs. 10,000 to Rs. 2 Lakhs)Rs. 500 to up to 6% of loan amount
Online Purchase Loan/E-Voucher LoanUp to 5% of loan amount

Convenience fees - collected by Payment Gateway for online repayment

Bank TransferRs. 0
Net BankingRs. 6 - 15 per transaction (depending on your Bank)
Debit Card -Less than Rs. 20000
Debit Card - Above 20000.90%
UPIRs. 5 - 11 per transaction (depending on your Bank)
Wallet/Prepaidup to 1.90% (depending on wallet selected)
Auto DebitRs. 0

Late Payment Charges

Flexi Personal Loan Products up to 2 months ranging from Rs.1,000 to Rs.10,000One-time overdue charge of Rs.10 - 200 and a per-day penalty charge of Rs.5 – 75, for each and every installment that is overdue
Personal Loan for Salaried product up to 15 months on loan amounts ranging from Rs.10,000 up to Rs.3 LakhA one-time overdue charge of Rs.500 and a per-day penalty charge of 0.15% of the installment principal amount for each and every installment that is overdue
E-voucher Loan productA one-time overdue charge of Rs. 500 and a per-day penalty charge of 0.2% of the installment principal amount for each and every installment that is overdue

Other ‘One-Time’ Charges

  • On-boarding Fees
  • Document Collection Fees
  • Credit Re-Assessment Fees
  • Agreement Fees

Why should I choose KreditBee Personal Loans?

Get instant personal loans in less than 15 minutes

High credit limit based on your credit score and repayment history

Loans of up to Rs.3 lakhs for any personal purpose

No restriction on the end use of the loan money

Convenient repayment options

Completely online process

Simple documentation requirements

FAQs

1. What are the types of personal loans available with KreditBee?

The following loan products are accessible through the KreditBee Platform:

  • Flexi Personal Loan: A Personal Loan with a ticket size ranging from Rs. 1,000 to Rs.1,00,000
  • Personal Loan for Salaried: A Personal Loan with a ticket size ranging from Rs. 10,000 to Rs.3 Lakh
  • Online Purchase Loans / E-Voucher Loans: A personal loan that allows you to purchase products directly on a merchant website. Credit limit based on your eligibility and price of the product.

2. Can I use KreditBee personal loan like a credit card?

No, the KreditBee personal loan is very much a personal loan where the loan amount is credited to your bank account for use.

3. Can I access the KreditBee loan platform without a Google or Facebook account?

No, you have to have a Facebook or Google account for signing up on KreditBee.

4. Where is the loan amount disbursed?

The loan amount is deposited immediately into your bank account, which you specify throughout the loan application procedure.

5. My mobile number is not linked to my Aadhaar. What should I do?

Before a loan may be disbursed to you, you must have an Aadhaar-linked mobile phone and complete the Aadhaar-based E-signing of the Loan Agreement. By visiting the local Aadhaar Centre, you can have your Aadhaar linked to your mobile number.

6. Why was my loan application rejected?

There could be a variety of reasons for this, including, but not limited to, a low credit score, illegible paperwork, and information mismatch.

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