Personal Loan for Shopping

Frequently Asked Questions

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

  A few benefits of taking out a personal loan from KreditBee are:

  • 100% online
  • Loans start from ₹6,000 to ₹10 Lakhs
  • Applications accepted 24x7
  • Hassle-free documentation
  • Get your loan disbursed in just 10 minutes

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

  Downloading our app and registering using your phone number will allow you to apply for a personal loan from KreditBee. After completing the questionnaire and creating a profile on our online platform, your KYC documentation must be uploaded.

  The method entails several steps. Based on the validity of your documents, KreditBee will automatically evaluate your profile. For the loan amount to be disbursed into your account, you will need to enter the details for your bank account.

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

  Banks frequently process a traditional loan after numerous trips to branch offices and the completion of substantial documentation. Usually, it takes between one and three weeks, and you may need funds urgently.

  KreditBee's online lending process allows you to apply from the comfort of your home. The procedure can be finished quickly, and the loan is processed depending on your qualifying conditions. Upon approval, the loan is disbursed in 10 minutes for usage as you see fit.

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

  KreditBee offers a variety of loans, including

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

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

  • Photograph (Selfie)
  • Identity Proof (PAN)
  • Address Proof (Aadhaar or Passport)

• 6. Is there any precondition for me to apply for a shopping 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.

  • You must be an Indian citizen.
  • You must be above 21 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.

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

  Documents required for salaried employees are as follows

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

  For self-employed individuals, it is mandatory to submit the bank statement for the last six months along with the documents mentioned above.

• 8. What is meant by credit score?

  Your credit score reveals your financial standing and projects how likely you are to pay back your debts. The score ranges between 300 and 850. In India, credit scores are generated by credit reporting agencies: CIBIL, Experian, Equifax, and CRIF High Mark. Their credit score determines the eligibility of a person for a loan.

• 9. How is my credit score related to the loan from KreditBee?

  KreditBee is a useful tool if you'd like to raise your credit score. You can prove your ability to repay debts by taking a personal loan from KreditBee and paying it back on schedule. With time, this could raise your credit score, making it simpler for you to get a bigger loan from other banks, financial organizations, or us.

• 10. How can I repay my loan?

  You can finish the entire payback process using the KreditBee app to repay your existing private loan. You can pay back your loan using debit cards, net banking, and UPI, among other payment options.

• 11. I cannot repay my loan on the KreditBee mobile app. Is there any other way to do so?

  No, only the KreditBee app can be used to make loan repayments for KreditBee loans. If you have any problems paying back your loan, kindly email us at [email protected] so that we can look into it and give you further details.

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

  Yes, it is possible. To get approval to pay off your loan before the due date, send an email to [email protected]

• 13. What is the available repayment tenure for a personal loan from KreditBee?

  Online borrowers can repay their loans in 6 to 60 months, depending on the type of loan, the amount borrowed, and selected repayment options by the borrower.