Instant Loan

Frequently Asked Questions

• 1. What are the benefits of availing of an Instant Loan?

  The biggest benefit of an instant loan is that the funds will be credited to your account as soon as the loan is approved. Instant loans process faster, and when you apply for an instant loan, you are typically given a flexible loan term. Considering you stay within the maximum loan payback duration, you can choose a repayment period that suits your needs.

• 2. How do I apply for an Instant Loan from KreditBee?

  To apply for a KreditBee instant loan, you must first download our app and register using your mobile number. You have to create an account on our platform, enter your information, complete the questionnaire, and upload your KYC paperwork for profile verification.
  
  It won't take you more than 10 minutes to do this. You can then apply for an instant loan from KreditBee after having your profile instantaneously evaluated based on the validity and quality of the papers you supplied. To get the loan amount in your bank account, provide your bank account information.

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

  A personal loan from a bank often takes one to three weeks to process and necessitates a lot of paperwork and several branch office visits. It's possible that you won't always have this much free time.
  
  On the other hand, the financing process at KreditBee is online, allowing you to apply for a personal loan from the comfort of your home. The procedure is easy and quick. Considering your eligibility requirements, processing the loan takes very less time. The money is then immediately credited to your bank account.

• 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 documents do I need to apply for an Instant Loan on KreditBee?

  To apply for a personal loan through KreditBee, you must upload a digital copy of your self-portrait 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 Instant Loan on KreditBee?

  Yes, to comply with our KYC criteria, we must confirm that the KYC documents supplied in the app match the person submitting their information. Also, the below-mentioned eligibility criteria should be met.
  
  

  • 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 register a mobile number compulsorily.
  • 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 an Instant Loan?

  Documents required for salaried employees are as follows
  

  • Workplace details (like company name)
  • Picture of your office ID card
  • Workplace email address
  • Salary slip
  • Salary account details

• 8. What do you mean by Credit Score?

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

• 9. How is my credit score connected to the Instant Loan that I avail of from KreditBee?

  KreditBee is a good resource for improving your credit score. When you accept a personal loan from KreditBee and pay it back on time, it shows that you have a proven track record of repaying debts. This improves your credit score and makes it easy for you to be eligible for future loans.

• 10. How can I repay my Instant loan?

  You can repay your existing instant loan using various payment methods such as debit cards, net banking, and UPI on our KreditBee app.

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

  No, only the KreditBee app supports your KreditBee loan repayments. If you face any issues in repaying your loan, kindly contact us through email at [email protected] so that we may investigate and provide you with additional guidance on the best course of action.

• 12. Can I repay the loan before the due date?

  Yes, you can.

• 13. Is it possible for me to pre-close my loan?

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