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KreditBee Personal Loan

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KreditBee is an online platform facilitating loan transactions between banks/NBFCs and borrowers. The personal loan interest rates available through the platform starts from 16% p.a. for loan amounts of up to Rs 5 lakh and for tenures of up to 3 years. KreditBee Personal Loan comes with instant disbursal (within 10 minutes) and with minimal documentation. KreditBee also provides pre-closure facility on their personal loans.

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Updated: 27-11-2024 11:47:43 AM

Apply for Kreditbee Personal Loan Online

Kreditbee

Up to ₹5L

16% - 29.95%

Upto 3 Years

₹1,250

100% Digital Process* Quick Disbursal

*Applicable for selected customers

KreditBee Personal Loan Interest Rates

The interest rates for KreditBee Personal Loan range between 16.00% to 29.95% p.a. The personal loan interest rates for various KreditBee loan schemes are mentioned below:

Particulars Interest Rates (p.a.)
Flexi Personal Loan 24.00% – 29.95%
Personal Loan for Salaried 17.00% – 29.95%
Personal Loan for Self-Employed 16.00% – 29.95%

Note: Interest rates updated as of 27th November 2024

Processing Fees and Charges

Particulars Rates
Processing fees*
  • For Flexi Personal Loans: Rs 65 to Rs 5,560
  • For Personal Loans for Salaried: Rs 500 to Rs 13,750
  • For Personal Loans for Self-Employed: Rs 350 to Rs 16,800
  • For Online Purchase Loan/E-Voucher Loan: Up to 5% of the loan amount
Convenience fees**
  • Bank transfer: Nil (borrower’s bank may levy charges for NEFT/IMPS transfer)
  • Net banking: Rs 6 to Rs 15 per transaction (depending on the borrower’s bank)
  • Debit Card:
    • Less than Rs 2,000: Nil
    • Above Rs 2,000: 0.90%
  • UPI: Rs 5 to Rs 11 per transaction (depending on the borrower’s bank)
  • Wallet/Prepaid: Up to 1.90% (depending on the wallet chosen for payment)
Penalty Charges for Auto Debit Rs 100
Late Payment Charges Flexi Personal Loan:

  • For a 2 month loan of 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 every overdue instalment

Personal Loan for Salaried:

  • For a 15 month loan (loan amount of Rs 10,000 to Rs 3 lakh): One time overdue charge of Rs 500
  • Per day penalty charge: 0.15% of principal amount for every overdue instalment

Online Purchase Loan/E-Voucher Loan:

  • One time overdue charge: Rs 500
  • Per day penalty charge: 0.2% of principal amount for every overdue instalment

*charges are indicative and may change based on an individual’s profile. It is deducted from the loan amount upfront

**excluding GST and other applicable taxes

Also Read: What is the processing fees and charges on personal loans for top banks and NBFCs?

Types of KreditBee Personal Loans

Flexi Personal Loan

  • Flexi Personal Loan is aimed at salaried individuals looking for small-ticket size loans for meeting unexpected emergencies or taking care of small expenses (insurance premiums, utility bills, etc.). The loan amount is disbursed within 10 minutes of application
  • Tenure: 3 months to 10 months
  • Loan Amount: Rs 1,000 – Rs 80,000 (Based on the repayment track record and other factors, borrowers can increase their loan amount eligibility to Rs 1 lakh at later stages)
  • Interest Rate: 24.00% – 29.95% p.a.
  • Minimum Salary requirement: More than Rs 10,000 per month (net)

Personal Loan for Salaried

  • Personal Loan for Salaried is disbursed to eligible salaried applicants within 1 working day of making loan application. KreditBee prefers providing loans to employees seeking to continue with their existing employers during their loan tenure.
  • Tenure: 3 months to 3 years
  • Loan Amount: Rs 10,000 to Rs 5 lakh
  • Interest Rate: 17.00% – 29.95% p.a.
  • Minimum Salary requirement: More than Rs 10,000 per month (net). A salaried individual can take a loan up to 200% of their monthly net salary

Personal Loan for Self-Employed

  • Personal Loan for Self-Employed is disbursed to eligible self-employed individuals within 10 minutes of making the loan application. KreditBee offers this personal loan facility to self-employed applicants for meeting their business-related expenses.
  • Tenure: 3 months to 2 years
  • Loan Amount: Rs 1,000 to Rs 4 lakhs
  • Interest Rate: 16.00% – 29.95% p.a.

Online Purchase Loan/E-Voucher Loan

  • Online Purchase Loan/E-Voucher Loan is offered to salaried individuals for financing their shopping on KreditBee partner platforms. They can register on KreditBee and make an upfront down payment to avail E-Vouchers on EMI to shop on multiple online platforms.
  • Tenure: The E-Voucher expires within a year from the date of issue
  • Loan Amount: The E-Voucher loan amount should be within the assigned credit limit (available on the KreditBee app) and the down payment amount selected for purchasing the product.

Eligibility Criteria for KreditBee Personal Loan

The eligibility criteria for KreditBee Personal Loan is similar to the eligibility criteria for personal loans set by most banks and NBFCs. Some of the main factors considered by KreditBee for ascertaining the personal loan eligibility of their loan applicants are as follows:

Eligibility for Flexi Personal Loan

  • Indian Citizen
  • Minimum Salary requirement: Rs 10,000 per month (net)
  • Age: 21 to 60 years

Eligibility for Personal Loan for Salaried

  • Indian Citizen
  • Minimum Salary requirement: Rs 10,000 per month (net)
  • Age: 21 to 60 years
  • Work Experience: At least 3 months (in the current organization)
  • Minimum Family Income: Rs 25,000
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Eligibility for Personal Loan for Self-Employed

  • Indian Citizen
  • Minimum Salary requirement: Rs 10,000 per month (net)
  • Age: 21 to 60 years

Eligibility for Online Purchase Loan/E-Voucher Loan

  • Indian Citizen
  • Age: above 21 years

Documentation Required for Personal Loan from KreditBee

Flexi Personal Loan

  • PAN Card
  • Address Proof: Voter ID Card, Aadhaar Card, Passport

Personal Loan for Salaried

  • PAN Card
  • Address Proof: Voter ID Card, Aadhaar Card, Passport
  • Bank statement of salary account
  • Salary slips

Personal Loan for Self-Employed

  • PAN Card
  • Address Proof: Aadhaar Card, Passport

Online Purchase Loan/E-Voucher Loan

  • PAN Card
  • KYC Address Proof

KreditBee Personal Loan EMI Calculator

EMI Calculator
₹
%
Year(s)
EMI Calculator

Monthly EMI ₹ 15,622

Total Amount Payble ₹ 5,62,395(Principal + interest)

Principal Amount ₹ 5,00,000

Total Interest Payble ₹ 62,395


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KreditBee Personal Loan Customer Care

You can reach out to KreditBee personal loan customer care through one of 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

FAQ’s on KreditBee Personal Loan

Is it safe to take a Personal Loan from KreditBee?

Ans. KreditBee hosts multiple NBFCs, licensed by the RBI, on its online platforms for offering personal loans. Therefore, it is safe for borrowers to avail personal loans from KreditBee.

What is the Personal Loan limit in KreditBee?

Ans. The maximum loan amount offered on the KreditBee platform is up to Rs 5 lakh. However, the maximum personal loan amount set for Flexi Personal Loans Scheme is Rs 80,000, for Personal Loan for Salaried is Rs 5 lakh, for Personal Loan for Self-Employed is Rs 2 lakh and for Purchase on EMI is Rs 2 lakh.

How do I check my KreditBee Personal Loan Eligibility?

Ans. Prospective applicants seeking KreditBee Personal Loans can check their eligibility criteria by visiting the website, going to the ‘Check eligibility’ section, selecting the personal loan scheme they wish to avail and providing the necessary details.

 

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