KreditBee is an online digital lender that offers personal loans to fulfil various personal financial needs. KreditBee personal loans start from Rs. 1000 and can go up to Rs. 2 lakh and can be repaid within the flexible tenure decided by you. The loan can be applied online from the comfort of your home or office with minimum documentation and quick transfer of funds.
Table of Contents
Features of KreditBee Personal Loan
- Loan amount: Varying from Rs. 1000 to Rs. 2 lakh, the personal loan amount offered by KreditBee can take care of various personal expenses including a medical emergency expenses, vacation costs, shopping, home renovation, wedding, etc.
- Flexible tenure: The tenure of a KreditBee personal loan is flexible and varies from 2 to 15 months
- Easy Online application: The digital platform allows you to apply for a personal loan online at any time to ensure easy availability of funds
- Minimum documentation: You no longer have to submit multiple documents while availing a personal loan as KreditBee only asks for basic documents that need to be uploaded online at the time of loan application
KreditBee Personal Loan Interest Rate
| Type of Product | Interest Rate |
| Personal Loan for Salaried | Starts from 12.24% |
| Flexi Personal Loan | 18% to 29.95% |
| Online purchase loan | 0 to 24% |
Eligibility Criteria
1. Personal Loan for Salaried
- You should be at least 21 years old and your maximum age at the time of application should not be more than 45 years
- Your monthly income should be more than Rs. 15,000
- You should be working in your current organization for at least 3 months
2. Flexi Personal Loan
- You should be at least 21 years old and your maximum age should not be more than 45 years
- Your monthly income should be more than Rs. 10,000
Types of KreditBee Personal Loan
1. Personal Loan for Salaried: A personal loan for salaried is offered to all working professionals who need instant funds to deal with a financial emergency. This loan varies from Rs. 10,000 to Rs. 2 lakh and can be repaid within a tenure ranging from 3 to 15 months. The 100% online process makes it easier for you to avail funds conveniently.
2. Flexi Personal Loan: The flexi personal loan from Kreditbee is offered with low amount starting from Rs. 1,000 to Rs. 10,000 with shorter repayment tenure stating from a few days to longer tenures of up to 62 months. This loan is an ideal option for a wide variety of fund requirements.
3. Online Purchase Loans: KreditBee online purchase loan also known as shopping loans can allow you to instantly buy new clothes, mobile phone, electronics, furniture, flight tickets and more from leading ecommerce portals such as Flipkart, Myntra, Amazon, Jabong, MakeMyTrip and Nykaa. To avail this facility, you need to do to apply for an e-voucher on KreditBee and use it to purchase the product of your choice from any of the partner stores mentioned above. Also, you may have the option to repay an e-voucher loan/online purchase loan via the no cost EMI route.
Documents Required for Loan Application
The following are key documents required when applying for key types of Kreditbee personal loan:
1. Personal Loan for Salaried:
- PAN Card
- Address proof: Aadhaar Card, Voter ID Card, Passport
- Bank statement of salary account
- Salary slips
2. Flexi Personal Loan:
- PAN Card
- Address proof: Aadhaar Card, Voter ID Card, Passport
How to Apply for KreditBee Personal Loan with Paisabazaar?
You can apply for KreditBee Personal Loan through Paisabazaar by following the below mentioned steps:
- Fill out the online personal loan application form on Paisabazaar.com to check eligible personal loan offers
- Arranged according to the chances of approval, you will get various personal loan offers from different NBFCs/banks
- Select a lender or call Paisabazaar in case of an query or if you need assistance
- After you select the lender and complete/submit the loan application online, you will receive a conditional e-approval instantly.
Personal Loan Verification Process
The verification process at Paisabazaar involves the following steps:
- When your personal loan application is forwarded to the selected lender, you will be asked to upload specified documents as per the type of loan
- Once your documents are verified, you receive a confirmation call from the lender specifying the terms and conditions of the loan agreement
- Once you provide verbal consent, you will receive the loan amount within as short a period as a few hours.
Check KreditBee Personal Loan Application Status
If you already have an outstanding loan with Kreditbee, you can download the Kreditbee app available for both Android as well as iOS users. You can subsequently check the status of your personal loan application by logging into the app using your Kreditbee credentials. Alternatively, you can call customer care on 080-44292200 to know the status of your personal loan application status.
Fees and Other Charges
The following are some of the key fees and charges other than interest charges associated with a KreditBee personal loan:
| Processing Fee | Flexi Personal Loan | Rs. 100 to Rs. 1,000 | ||||
| Personal Loan for Salaried | Rs. 750 to upto 3.5% of the loan amount | |||||
| Online purchase loan/ E- voucher loan | 0 to up to 3% of the loan amount | |||||
| Convenience Fee | Bank Transfer | Nil. (Your bank may levy a charge for IMPS/NEFT transfer. Please check with your Bank for more details.) | ||||
| Net Banking | Rs. 6 to Rs. 15 per transaction (depending on your bank) | |||||
| Debit Card | Less than Rs. 2,000 | Nil | ||||
| Above 2,000 | 0.90% of amount paid | |||||
| UPI | Rs. 5 to Rs. 11 per Transaction(depending on your Bank) | |||||
| Wallet | Up to 1.90% of amount paid (depending on wallet selected) | |||||
| Late payment charges | Flexi Personal Loan | From Rs. 1,000 to Rs. 10,000 | one-time overdue charge of Rs. 10 to Rs. 200 | |||
| Per-day penalty charge | Rs. 5 to Rs. 75 for each and every instalment that is overdue | |||||
| Personal Loan for Salaried | From Rs. 10,000 up to Rs. 2 Lakh | One-time overdue charge of Rs. 500 | ||||
| Per-day penalty charge | 0.15% of the principal amount outstanding for each installment that is overdue | |||||
| Online purchase loan/E- voucher loan/Shopping Loan | One-time overdue charge | Rs. 500 | ||||
| Per-day penalty charge | 0.2% of the instalment principal amount for each and every instalment that is overdue | |||||
How to Login on KreditBee Portal?
- Go to the KreditBee sign in page
- Log in using either Facebook or Google
Or
- Login using your registered mobile number
Read More about KreditBee Personal Loan Login.
KreditBee Personal Loan Statement
There is no specific feature available at KreditBee to check the personal loan statement but you can check the personal loan statement by logging to the online portal of KreditBee by following the above mentioned steps.
EMI Calculation
The following table illustrates the EMI calculation results for various KreditBee personal loan amounts, interest rates and tenures.
| Loan principal @ interest | Tenure | ||||
| 3 months | 6 months | 9 months | 12 months | 15 months | |
| 20,000 @ 12.24% | Rs. 6,803 | Rs. 3,453 | Rs. 2,337 | Rs. 1,779 | Rs. 1,445 |
| 80,000 @ 13% | Rs. 27,247 | Rs. 13,843 | Rs. 9,377 | Rs. 7,145 | Rs. 5,807 |
| 1 lakh @ 13.5% | Rs. 34,086 | Rs. 17,329 | Rs. 11,745 | Rs. 8,955 | Rs. 7,282 |
| 1.5 lakh @ 15% | Rs. 51,255 | Rs. 26,105 | Rs. 17,726 | Rs. 13,539 | Rs. 11,029 |
Comparison of KreditBee PL vs. Other Lenders
The following is a comparison of personal loan from KreditBee to some leading online lenders and NBFCs:
| Particulars | KreditBee | Early Salary | Home Credit | Cashe | Bajaj Finserv |
| Interest Rate | Starting from 12.24% | 24% to 30% | 24% to 49% | 33% to 36% | Starting from 12.99% |
| Tenure | 2 to 15 months | 90 to 365 days | 18 to 48 months | 2 to 12 months | 12 to 60 months |
| Loan amount | Up to Rs. 2 lakh | Up to Rs. 2 lakh | Up to Rs. 2.40 lakh | Up to Rs. 3 lakh | Up to Rs. 25 lakh |
| Processing Fee | Up to 3.5% of the loan amount | Up to 1.50% of the loan amount | Nil | Up to Rs.1500 or 3% of the principal amount whichever is higher | Up to 3.99% of the loan amount |
KreditBee Customer Care
You can reach out to the customer service department of KreditBee in the following ways:
- You can call on 080-4429-2200 (call charges applicable)
- You can send an email on help@kreditbee.in
- You can send a letter on 3rd Floor, No.100, The Royal Stone Tech Park, Benninganahalli, K.R.Puram, Bengaluru, India – 560016
- You can leave a message on the Kreditbee website using the online contact us form
Benefits of Applying for Personal Loan at Paisabazaar
- Compare before you select: With the help of Paisabazaar, you can make an informed decision when selecting a personal loan after comparing the interest rate, processing fee, foreclosure charges, etc. of personal loans offered by over 30+ lenders
- Online application: You can easily apply for a personal loan online through the Paisabazaar portal and can save yourself from the hassle of physically visiting branch location for submission of documents and completing other loan formalities
- Eligible loan offers: When you fill your basic details on Paisabazaar including your salary, city you live in, employer you work for or the loan amount you need, you get redirected to a page displaying eligible loan offers as per the chances of approval
- Online EMI Calculation: Keeping you away from the complex manual calculation, Paisabazaar offers you an EMI calculator that lets you know the EMI even before you avail the loan by just entering the desired loan amount, tenure and interest rate
Important Aspects
- Consider total cost of the loan: Evaluate the complete cost of the loan including interest payout, processing fees and other charges associated with the loan. Only then choose the lender offering the lowest interest rates, fees and charges
- Do not apply with multiple loans at the same time: Avoid applying for a personal loan with multiple lenders at the same time as it may lead to multiple hard inquiries showing up in your credit report leading to a lower credit score
- Maintain a high credit score: A good credit score is necessary to be eligible for a personal loan. Low credit score might be the reason for rejection of your loan application, therefore, it is important to maintain a healthy credit score
- Borrow only if you need money: Do not apply for a personal loan just because you got an offer from the lender or you are getting a low interest rate. It is financially prudent to borrow money only if you need is and moreover you should never borrow more than what you actually need
FAQs
Q1. How many days will it take for my personal loan to get disbursed?
If your KreditBee personal loan application is approved, it can get disbursed to your bank account within 1 working day.
Q2. My flexi personal loan application just got rejected. Can I reapply for it?
Yes, you can reapply for a KreditBee flexi personal loan after completion of 3 months counted from the date of your last application.
Q3. I don’t have a Google or Facebook account. It is still possible for me to use KreditBee app?
No, a Facebook or a Google account is necessary to sign up on the KreditBee app.
Q4. Is it possible to get the personal loan amount transferred to someone else’s bank account?
No, the personal loan amount can only get transferred to your savings or current account.
Q5. Where can I know about my monthly repayment schedule?
You can login to the app to know about your repayment schedule.
Q6. How can I repay my personal loan?
You can repay your personal loan by making an online payment through debit card, Internet banking, PayTM wallet or bank transfer.
Q7. Is it possible to postpone or reschedule my EMI date?
No, this facility is currently not available in case of a KreditBee personal loan.
Q8. Can I avail two or more loans simultaneously at KreditBee?
No. You are only allowed to have a single outstanding personal loan with KreditBee at any given point of time.
Q9. Is there an expiry date for the e-voucher issued for KreditBee Online Purchase Loan?
Yes, e-vouchers provided by KreditBee under the Online Purchase Loan program come with an expiry date of 1 year counted from the date of issue as printed on the voucher.
