Flexi Loan

Frequently Asked Questions

• 1. What is a Flexi Loan or a Flexi Personal Loan?

  A Flexi Personal Loan is a short-term personal loan product by KreditBee with a shorter repayment cycle. It is one of the most convenient solutions for all your financial needs, with loan amounts ranging from ₹6,000 to ₹10 Lakhs. You can use this loan for various reasons – from buying groceries to paying utility bills or other unexpected expenses.

• 2. What is the repayment tenure offered for the Flexi Personal Loan product?

  You can choose to repay your Flexi Personal Loan in a tenure of anywhere between 6 months to 60 months from the loan disbursal date, depending on the terms of your loan.

• 3. How long does it take for the Flexi Personal Loan amount to be disbursed?

  As long as you are eligible for a Flexi Personal Loan and your profile is confirmed, you can get your flexi credit amount transferred directly into your bank account within just 10 minutes.

• 4. My application for a Flexi Personal Loan did not get approved. Why?

  Your application may not be approved for multiple reasons, such as a duplicate profile or low credit score. If you feel that an error has been made, you can reach out to us at help@kreditbee.in, and we will rectify it.

• 5. Can I reapply for a Flexi Personal Loan in case I couldn't get it on my first attempt?

  Sure, you can. You can reapply for a Flexi Personal Loan within 3 months of your last application. However, the approval of the same will occur solely at the discretion of KreditBee.

• 6. What is the difference between a Flexi Personal Loan and a regular Personal Loan?

  Typically, personal loans have some stringent rules when selecting the principal loan amount, tenure, and interest rates, while KreditBee's Flexi Personal Loan gives you flexible loan amounts, attractive interest rates, shorter repayment cycles, and the ease to withdraw funds when needed.

• 7. What are the minimum and maximum loan amounts I can borrow with a Flexi Loan?

  The minimum loan amount for a Flexi Personal Loan is ₹6,000, with the maximum amount being ₹10 Lakhs.

• 8. What documents are required to apply for a Flexi Personal Loan?

  To apply for KreditBee's Flexi Loan, you need to submit documents such as:

  • Photograph (Selfie)
  • Identity Proof (Driving Licence, PAN card)
  • Address proof (Passport, Aadhaar card)

• 9. Is the Flexi Personal Loan available for salaried individuals only?

  Flexi Personal Loans are available to salaried individuals as well as self-employed individuals as long as they have a regular monthly source of income.

• 10. How does my credit score affect my eligibility for a Flexi Personal Loan?

  Your credit score is one of the factors that determine your loan amount capacity and how much interest rate can be applied. The better your credit score, the higher the amount you can get within the maximum amount.

• 11. Can I get a Flexi Loan with a low credit score?

  Yes, you can get a KreditBee Flexi Personal Loan with a low credit score, as your credit profile is not the only factor we look at. As long as you submit the correct documents required and meet our eligibility criteria, even new-to-credit users can avail of our loans.

• 12. Can I increase my loan limit in a Flexi Loan?

  No, once approved for a specific loan amount, you cannot increase it. However, you can reapply and possibly avail of a higher principal amount if you have repaid your previous loan on time.

• 13. Can I make multiple withdrawals in a Flexi Loan?

  Once approved, the money is transferred directly to your bank account. You can withdraw funds as you wish.

• 14. What happens if I don't pay my Flexi Loan?

  If you don't repay your Flexi Loan, you can incur late payment penalty charges on the next month's EMI. Further, late repayments can also affect your credit score adversely. A decreased credit score can lead to future loan process inconveniences.

• 15. Are there any special conditions, hidden costs, or fees associated with Flexi Loans?

  There are no hidden charges associated with our Flexi Loans. We only charge standard fees, and discounts on the processing fee are also available.

• 16. What are the interest rates for Flexi Personal Loans?

  Typically, the minimum interest rate for a Flexi Loan is 12%, and the maximum interest rate is 28.5% annually.