EMI without Credit Card

Frequently Asked Questions

• 1. What are the benefits of EMIs without a credit card?

  EMI payments without a credit card give you the freedom to buy things you need in monthly instalments at no additional charges. The repayment tenure is flexible, and the interest rates are lower than a credit card.

• 2. How do I apply for EMI without a credit card option from KreditBee?

  Securing any type of loan from KreditBee is as simple as it can get. Get EMI without a credit card from KreditBee by following these steps:

  
  

  1. Sign up with your mobile number.
  2. Check your eligibility using your basic information.
  3. Upload required documents.
  4. Provide your bank account details.
  5. Get the loan amount credited directly into your bank account.
  6. Get loan disbursed directly into your bank account.

• 3. What is the advantage of availing a personal loan from KreditBee over a bank personal loan?

  With KreditBee, it will take you not more than 10 minutes to get a loan based on your eligibility. The entire process is hassle-free and requires no collateral, which is one of the biggest advantages. The lump sum amount you need is then directly transferred to your account with an EMI option. Repayment of the loan then happens via regular instalments over a fixed period.

• 4. What are the types of Online Loans offered by KreditBee?

  • Flexi Personal Loan
  • Personal Loan for Salaried
  • Personal Loan for Self-Employed

• 5. What documentation do I need to apply for EMI without a credit card through KreditBee?

  To apply for EMI without a credit card through KreditBee, you must upload a digital copy of your photograph and PAN card for identity verification and address proof (such as your passport, voter ID, or Aadhaar).

• 6. Is there any precondition for me to apply for an EMI without a credit card on KreditBee?

  Yes, to comply with our KYC criteria, we must confirm that the KYC documents are genuine and correspond to the individual applying for the loan. It is mandatory to meet the following eligibility criteria to apply for a loan.
  

  • The applicant must be an Indian citizen.
  • The applicant must be above 21 years of age and less than 60 years of age.
  • The applicant must have a PAN card.
  • The applicant must have a registered mobile number.
  • The applicant must have a minimum income of ₹10,000 per month.

• 7. Apart from my KYC documents, what employment details/documents are required to apply for a Loan?

  Documents required for salaried employees are as follows:

  • Company information
  • Picture of your office ID card
  • Official email address
  • Salary slip
  • Salary account details

  You need to furnish bank statements for the last 6 months if you’re a self-employed individual applying for a loan.

• 8. What do you mean by Credit Score?

  A credit score is a three-digit number that dictates your credit history and shows your ability to repay debts. The credit score ranges from 300 to 850. Credit scores are generated by four credit bureaus in India - CIBIL, Experian, Equifax, and CRIF High Mark. Your eligibility to secure a certain amount of loan is determined by your credit score.

• 9. How is my Credit Score connected to the EMI without a credit card I avail of from KreditBee?

  Since the credit score measures your ability to repay your debt, paying back your loans on time improves your credit score. A high credit score can increase your chances of being eligible for loans from KreditBee, banks, or any other financial institution.

• 10. How can I repay my EMI without a credit card?

  You can repay your existing EMI without a credit card from KreditBee by visiting our KreditBee app and completing the repayment process. It is possible to repay your instant loan using different payment methods such as debit cards, net banking, and UPI.

• 11. I am unable to repay my loan on the mobile app. Is there any other way to do so?

  No, loan repayments for your KreditBee loan are only supported on the KreditBee app. In case you face any issues with repayment, kindly contact us through email at [email protected] so that we can assist with guidance on the best course of action.

• 12. Can I repay the EMI without a credit card before the due date?

  Yes, you can. Repaying your KreditBee EMIs before the due date is a straightforward process.

• 13. Is it possible for me to pre-close my EMI without a credit card?

  Yes, you can pre-close your loan. To request permission and have your loan settled before the due date, write an email to [email protected].

• 14. What is the available repayment tenure for an EMI without a credit card from KreditBee?

  The repayment tenure for a KreditBee loan ranges from 6 to 60 months. It depends on the loan amount the borrower availed and the repayment plan chosen at the time of applying for the loan.