Gone are the days when you were dependent on your bank account balance or Credit Card limit to get approval for loans. These are the times when raising an emergency loan has become easier and much accessible. Whether you are a salaried employee, a self employed or the one who has just started working on part time basis, you can avail of Instant Personal Loans up to Rs 2 Lakh from online lenders like Kreditbee.
Kreditbee Personal Loan
KreditBee Personal Loan is primarily a product for Young Professionals & Millennial Population. The borrower can apply for Personal Loan up to Rs 2 Lakh for 62 days to 15 months. The eligibility criteria are easy to meet for anyone who has a stable income source of Rs 15000 per month. It will not take more than 15 minutes to apply for Kreditbee Loan. The rate of interest varies as per customer鈥檚 risk profile. The interest rates are quite competitive and can cost maximum of 2.49% per month. In all, it is completely hassle free to qualify for Kreditbee Personal Loan.
Types of Kreditbee Personal Loan
Personal Loan for salaried:
Kreditbee Personal Loan for salaried employees is available for Rs 10000 to Rs. 2 lakh for 3 months to 15 months. The processing is swift & 100% online. Available at flat interest rate of 1.02% per month, these loans offer you transparent loan for your urgent needs.
Flexi Personal Loan:
As the name suggests, Kreditbee Flexi Personal Loan is a short term flexible loan. These are small-ticket loans up to Rs 10,000 for a few days. These are ideal for fulfilling your very short cash gaps instantly. You can instantly use these loans and pay any of your utility bills, insurance premiums or any other last minute expenses.
Online Purchase Loan:
Kreditbee Online Purchase Loan is a facility that allows you to buy on EMI from partner merchants. To access this facility you simply need to register on KreditBee app. Here avail of e-voucher and shop on partner platform at EMIs.
How to apply?
It is completely hassle free to apply for Kreditbee Personal Loan. It is a step by step simple process.
- Login with your Google or Facebook account on the app.
- Share basic personal information.
- Upload income proof and required documents.
- Connect your bank account.
- Your application is verified and amount is disbursed directly into your bank account.
Benefits of Keditbee
- Instant Loans: Kreditbee offers you instant credit power. You can borrow instantly as per your requirement. You also get choice to borrow for online purchases.
- Easy Eligibility: The eligibility criteria are perfect for young professionals. The minimum salary capping is Rs 15000. The age of the applicant should be between 21 years to 45 years.
- Unsecured borrowing: You do not require any collateral or guarantor to apply for Personal Loan at Kreditbee. The loans are completely unsecured in nature.
- 100% digital processing: The entire process is paperless and completed online. Thus it offers extreme ease of application to the borrowers.
- Loan for multiple uses: The loan is available to meet multiple requirements ranging from wedding, gifting, travelling, auto purchase to bills & EMI payments.
- Approval is not based on Credit Score: Unlike traditional lenders, loan eligibility is not based on your CIBIL score. The app will instead use your social media accounts and ask for reference contacts before accepting the loan request.
Things to watch
In all, Kreditbee is certainly one of the Go-To options for urgent cash lapses. However, it is important to keep the financial golden rules in mind before you apply for an Instant Loan. If misused, instant loans can be quickly put you into a debt trap.
You should not borrow if you are doubtful of successfully serving EMIs. As a rule of thumb keep your debt to income ratio below 50% of your net income. Remember: a loan is a debt and needs to be repaid successfully. Defaulting on your monthly EMI can accelerate your debt burden. Thus always assess repayment capacity before applying for instant loan. For uninitiated, it is recommended to use professional advice and make an informed decision.
