Personal Loan for Low Salary / Income

Frequently Asked Questions

• 1. What are the advantages of obtaining a Low Salary Loan?

  Opting for the loan by KreditBee offers the following advantages:

  1. 100% online
  2. Loans start from ₹1,000 to ₹5 Lakhs
  3. Applications are accepted anytime, anywhere
  4. Hassle-free documentation
  5. Get your loan disbursed in just 10 minutes

• 2. How to apply for KreditBee’s Low Salary Loan?

  You must first download our app and register using your mobile number to apply for the loan. Create an account on our platform, enter your information, complete the questionnaire, and upload your KYC paperwork for profile verification. Your loan amount will then be directly disbursed into your bank account.

• 3. What benefits do Low Salary Loans from KreditBee have over Personal Loans from banks?

  A bank typically processes a traditional Personal Loan over one to three weeks, involving a significant amount of paperwork and numerous trips to different branch offices. No one has this much free time anymore in this digital age.

  Instead, KreditBee's financing procedure is 100% online, so you can apply for a loan while lounging at home. The process is simple and fast, and the loan amount is disbursed in just 10 minutes.

• 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 a Low Salary Loan on KreditBee?

  To apply for the loan through KreditBee, you must upload a selfie and PAN card for identity verification and address proof (such as your passport, voter ID, or Aadhaar).

• 6. Is there any precondition for applying for a Low Salary 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.

  • You must be an Indian citizen.
  • You must be above 21 years of age and less than 60 years of age.
  • You must have a PAN card.
  • You must register a mobile number compulsorily.
  • You 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 Low Salary Loan?

  Low-salaried individuals can apply for a Personal Loan on salary slip. The documents required for salaried employees are as follows:

  1. Workplace details (like company name)
  2. Picture of your office ID card
  3. Workplace email address
  4. Salary slip
  5. Salary account details

  For self-employed professionals, bank statements for the last six months will be required.

• 8. What do you mean by credit score?

  The credit score is based on a numerical scale ranging from 300 to 850 and determines your creditworthiness and ability to repay your debts. Four credit bureaus in India- CIBIL, Experian, Equifax, and CRIF High Mark- are certified to generate credit scores.

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

  Availing of a KreditBee loan is a good strategy for improving your credit score. When you opt for a Personal Loan from KreditBee and repay on time, it reflects positively on your credit score.

• 10. How can I pay back KreditBee's Low Salary loan?

  The KreditBee app offers an intuitive UI for you to complete the payment process hassle-free. There are multiple modes to repay your low-salary loan, including debit cards, online banking, and UPI.

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

  Only the KreditBee app is authorized to accept KreditBee loan repayments. In case of issues regarding the payment, kindly contact us through email at [email protected] so that we can assist you better and offer guidance on the best course of action.

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

  Yes, you can do that. Simply send an email at [email protected] and request permission to pre-close your loan.

• 13. What is the available repayment tenure for a Low Salary Loan from KreditBee?

  You can repay the loan between 3 to 36 months, depending on the type of loan taken, the amount availed by the borrower, and the chosen repayment plan.