If you are looking for a loan, KreditBee is a platform that helps you get a personal loan online fast and easy. By Using KreditBee Loan borrowers can fulfill their urgent financial. This platform offer instant personal loans up to Rupees 5 Lakhs with interest rates starting from 16% – 29.95% p.a. and tenures ranging from 3 to 24 months.
But is KreditBee a reliable and trustworthy option for your financial needs? In this article we will tell you the features, benefits, eligibility, documents, and charges-related information and provide Kreditbee Reviews to help you decide if it is the right choice for you.
KreditBee Customer Reviews
To get a better idea of the customer experience and satisfaction with KreditBee reviews, we have collected some of the positive and negative reviews from Google Play Store. Here are some of the examples of KreditBee customer reviews:
Positive Reviews
Negative Reviews
Is KreditBee loan Fake or Real?
KreditBee is a real and genuine company that is registered as NBFC under the Reserve Bank of India (RBI). KreditBee is also a member of the Digital Lenders Association of India, and follows the guidelines issued by the RBI.
KreditBee has partnered with various banks and NBFCs to provide loans to its customers. KreditBee also has a valid website, app, and social media presence, where users can find more information about the company and its services.
What is KreditBee Personal Loan App?
KreditBee is a fintech company that provides personal loans to individuals through its mobile app. The app is available for both Android and iOS users and can be downloaded from the Google Play Store and App Store. KreditBee offers loans ranging from Rs. 3,000 to Rs. 5 lakhs with repayment tenures from 4 to 24 months.
The loans can be used for various purposes, such as medical emergencies, education, travel, shopping, home renovation, etc. KreditBee claims to have a simple and fast application process, where users can get their loan approved and disbursed within 15 minutes. Users can also check their loan status, repayment schedule and other details on the app.
| KreditBee Loan Details | |
| Loan Amount | 3000 to 5 Lakh Rupees |
| Interest Rate | Interest Rate Range Between 16% – 29.95% p.a. |
| Processing Fees | between ₹150 and ₹13,750 of the on loan amount |
| Loan Tenure | 4 to 24 months of Total Loan Tenure |
| Other Charges | Per day penalty charge: 0.2% on Total Loan Amount |
KreditBee loan App Features & Benefits
Some of the features and benefits of using KreditBee app are:
- No collateral or guarantor required
- Minimal documentation and verification
- Flexible repayment options and prepayment facility
- Instant loan approval and disbursal
- Multiple loan products to suit different needs
- Secure and transparent transactions
- Rewards and referrals program
- Customer support via phone, email, and chat
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KreditBee Personal loan App Interest Rate & EMI
The interest rate charged by KreditBee loan app depends on various factors, such as the loan amount, repayment tenure, credit score, income, etc. The interest rate can vary from 0% to 29.95% per annum, depending on the loan product and the customer profile. Here are some of the examples of the interest rate and monthly EMI for different loan amounts, as on November 2023 month:
| KreditBee | Interest Rate | Monthly EMI |
| Rs. 5,000 | 0% – 29.95% p.a. | Rs. 1,667 – Rs. 1,916 |
| Rs. 10,000 | 0% – 29.95% p.a. | Rs. 3,333 – Rs. 3,833 |
| Rs. 20,000 | 16% – 29.95% p.a. | Rs. 3,733 – Rs. 4,467 |
| Rs. 25,000 | 16% – 29.95% p.a. | Rs. 4,667 – Rs. 5,583 |
| Rs. 30,000 | 16% – 29.95% p.a. | Rs. 5,600 – Rs. 6,700 |
| Rs. 50,000 | 16% – 29.95% p.a. | Rs. 9,333 – Rs. 11,167 |
KreditBee Personal Loan Eligibility Criteria
To be eligible for a loan from KreditBee, the applicant must meet the following criteria:
- Be an Indian citizen and resident
- Be above 18 years of age
- Have a valid Aadhaar card and PAN card
- Have a bank account and a debit card
- Have a minimum monthly income of Rs. 15,000
- Have a good credit score and history
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Documents Required for KreditBee Loan
The documents required for applying for a loan from KreditBee are:
- Aadhaar card (for identity proof and address proof)
- PAN card (for identity proof and tax compliance)
- Selfie (for identity verification and facial recognition)
- Bank statement or salary slip (for income proof and repayment capacity)
Pros & Cons of KreditBee Loan App
Like any other product or service, KreditBee has its own pros and cons. Here are some of the advantages and disadvantages of using KreditBee, based on the feedback and reviews of its customers:
Pros – KreditBee Loan App
- Easy and convenient to use
- Fast and hassle-free loan process
- Low interest rates and processing fees for some loan products
- Good customer service and support
- User-friendly and intuitive app interface
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Cons – KreditBee Loan App
- High interest rates and processing fees for some loan products
- Low loan amount and tenure for some loan products
- Strict eligibility criteria and credit score requirements
- Harassment and spam calls from recovery agents
- Negative impact on credit score for late or missed payments
KreditBee Customer Care Number
If the user has any query, complaint, feedback, or suggestion regarding KreditBee, they can contact the customer care team through the following ways:
- Phone: 080-44292200
- Email: help@kreditbee.in
- Chat: In-app chat support
Suggested Read
1. Nira Personal loan App
2. Karur Vysya Bank Consumer Loan
3. Cred Cash Loan Review
4. Liquiloans Review
Conclusion
KreditBee is a digital lending platform that offers personal loans to individuals through its mobile app. KreditBee has some advantages, such as easy and fast loan process, flexible repayment options, and multiple loan products.
However, KreditBee also has some drawbacks, such as high interest rates and processing fees for some loan products, strict eligibility criteria and credit score requirements, and negative impact on credit score for late or missed payments.
Therefore, the user should carefully compare and evaluate the loan products, terms and conditions, and customer reviews before applying for a loan from KreditBee. KreditBee loan app is not a fake or scam app, but a real and registered NBFC that follows the RBI and DLAI guidelines.
However, the user should also be aware of the risks and responsibilities involved in taking a personal loan and repay it on time to avoid any penalty or legal action. KreditBee loan also provides customer support via phone, email, and chat, where the user can reach out for any assistance or grievance redressal. KreditBee is a good option for those who need a quick and easy personal loan, but not the best option for those who want a low-cost and long-term loan.
FAQs Related to KreditBee loan App
Q.1 What are the documents required for a loan from KreditBee?
You need to have a valid Aadhaar card, PAN card, selfie, bank statement or salary slip as the documents for a loan from KreditBee.
Q.2 How long does it take to get a loan approval and disbursal from KreditBee?
KreditBee claims to have a fast and simple loan process, where you can get your loan approved and disbursed within 15 minutes.
Q.3 What are the charges and penalties for late or missed payments on KreditBee loans?
KreditBee charges a late payment fee of 2% per month on the overdue amount, a cheque bounce charge of Rs. 500 per bounce, and a foreclosure charge of 5% of the principal outstanding for late or missed payments on their loans.
Q.4 How can I check my loan status, repayment schedule, and other details on KreditBee app?
You can check your loan status, repayment schedule, and other details on KreditBee app by logging in with your registered mobile number and OTP. You can also access your loan agreement, NOC, and loan closure certificate on the app.
Last Updated on 6 months
