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KreditBee offers personal loans ranging between Rs. 1,000 to Rs. 2 lakh to help individuals meet various financial needs. KreditBee Personal Loan interest rate starts at 12.24% p.a. To cater to the diverse needs of borrowers, this online lender currently offers three different personal loan options – Flexi Personal Loan, Personal Loan for Salaried and Online Purchase Loan. These unsecured loans come with flexible repayment tenure and can be easily availed online with minimal documentation. The following are the documents required to apply for a KreditBee personal loan.
KreditBee Personal Loan Documents Required
The following documents are needed to apply for a KreditBee Personal Loan depending on the type of applicant or type of loan opted for:
For Salaried Applicants:
- Proof of Address: Voter ID Card, Aadhaar Card, Passport
- PAN Card
- Salary slips
- Bank statement of salary account
For Flexi Personal Loan:
- PAN Card
- Proof of Address: Voter ID Card, Aadhaar Card, Passport
Currently KreditBee personal loans are not offered to self-employed applicants.
Also read about Kreditbee Personal Loan Login.
Important Aspects
Follow the tips given below to increase your chances of approval for a personal loan from KreditBee:
- Know the lender’s eligibility criteria- Have a clear idea of the lender’s eligibility criteria and ensure that you meet all applicable criteria. This will help you avail a personal loan more easily.
- Build and maintain a high credit score- A high credit score is one of the most important things that could help you avail a personal loan more easily. Build and maintain a good credit score (usually 750 or above) as it indicates a higher credit-worthiness and better repayment capacity and thus, helps increase the chances of approval of your personal loan.
- Stable history of employment- Having a steady job and a stable employment history usually indicates that you have sufficient funds to repay the loan and are less likely to default on repayments and thus, enables you to secure a personal loan more easily.
- Credit utilization ratio- It is the ratio of the amount of credit availed to the available credit limit. A low credit utilization ratio (generally 30% or lower) indicates a lower dependence on credit and a higher credit worthiness and thus, enables you to avail additional credit more easily.
- Avoid making multiple simultaneous loan applications- Making too many loan applications/enquiries with several lenders at the same time/within a short period of time shows you to be credit hungry. It also leads to an increase in the number of hard enquiries (made by these lenders) for your credit report which adversely affects your credit score and thus, decreases the chances of approval of your personal loan.
Also read about Kreditbee Personal Loan Customer Care.
FAQs
Q1. What is KreditBee Personal Loan interest rate per annum?
KreditBee Personal Loan interest rate starts at 12.24% p.a. However, specific interest rate applicable to an applicant varies based on the applicant’s profile including his/her credit score, loan amount and tenure desired, the personal loan variant opted for, etc.
Q2. What are the different personal loan options offered by KreditBee?
KreditBee offers 3 personal loan variants including Flexi Personal Loan (small-ticket size loan to deal with cash crunch), Personal Loan for Salaried and Online Purchase Loan (EMI E-Vouchers).
Q3. Who can avail a personal loan from KreditBee?
To avail a personal loan from KreditBee the following eligibility criteria need to be met:
-Applicant must be an Indian citizen and more than 21 years of age.
-Should have a valid bank account.
-Salary should be more than Rs. 10,000 per month
-Must provide a valid KYC address proof and PAN card copy
Q4. What is the tenure option available on KreditBee personal loans?
KreditBee Personal Loans come with a repayment tenure ranging between 2 months (minimum 62 days) to 15 months.
Q5. What is the minimum and maximum amount that I can avail on a personal loan from KreditBee?
The minimum amount that you can avail through a KreditBee personal loan is Rs. 1,000 and the maximum amount disbursed is Rs. 2 lakh.