Money Loan

Frequently Asked Questions

• 1. What are the benefits of availing a money loan?

  The significant benefits of availing a money loan are that the funds will be credited to your account instantly as soon as the loan is approved. As long as you stay within the maximum loan payback duration set by the lender, you can choose a repayment period that suits your needs.

• 2. How do I apply for a money loan from KreditBee?

  You must first use your mobile number to register on the KreditBee platform. Then apply for a KreditBee money loan by filling out the questionnaire and uploading your KYC documentation.
  
  After your profile has been automatically assessed and your documents verified, you can apply for the loan amount you’re eligible for. Fill in your bank account details so we can deposit the loan amount there. The entire process, from application to disbursal of the loan amount, only takes about 10 minutes.

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

  To process a loan, banks frequently need the borrower to complete a lot of documentation and visit many branch offices. Normally, it takes one to three weeks. Depending on how urgently you need the funds, this long wait time might be a setback.
  
  At KreditBee, the entire process is conducted online, allowing you to apply from anywhere. The loan is processed in just 10 minutes, and the funds are directly disbursed into your bank account so you can utilize them any way you see fit.

• 4. What are the types of online loans offered by KreditBee?

  KreditBee provides a variety of loans like
  
  

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

• 5. What documents do I need to apply for a money loan on KreditBee?

  A digital copy of your photograph (selfie), PAN card for identity verification, and address proof must be uploaded to apply for a money loan using KreditBee (such as your passport, voter ID, or Aadhaar).

• 6. Is there any precondition for me to apply for a money loan on KreditBee?

  Yes, we must verify that the users identities match the KYC documents supplied in the application. The following requirements for eligibility must also 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 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 money loan?

  Documents required for salaried employees are as follows.
  

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

• 8. What do you mean by Credit Score?

  The credit score calculates your creditworthiness and predicts how likely you are to pay back your debts. The range is between 300 and 850. In India, credit scores are generated by four different credit reporting agencies: CIBIL, Experian, Equifax, and CRIF High Mark. The eligibility of a person for a loan is determined by their credit score.

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

  KreditBee is an excellent resource if you want to raise your credit score.
  
  Availing of a loan from KreditBee and making on-time payments helps improve your track record of paying off your debts on time. You can obtain a larger loan from us or any other bank or financial institution in the future more easily by maintaining a good credit score.

• 10. How can I repay my Loan?

  Through our KreditBee app, you can make your EMI payments with ease. You can pay back your private loan using debit cards, net banking, and UPI, among other payment options.

• 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 possible through the KreditBee app. Send us an email at [email protected] if you are experiencing problems repaying your loan so that we can investigate and provide you with more information.

• 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 place a request for your loan to be settled before the due date, write an email to[email protected].

• 14. What is the available repayment tenure for a money loan from KreditBee?

  Money loans from KreditBee have tenures ranging from 6 to 60 months. It depends on the loan amount and the borrower's repayment plan.