KreditBee Loan is an instant personal loan platform for self-employed and salaried professionals where they can apply for a personal loan from INR 1000 to INR 2 Lakh as per their requirements. It is a complete digital loan platform, with the entire loan lifecycle, from origination to application to disbursement and repayment, being completely online. People can avail a loan from their smartphone directly to their bank account at any time of the day and week.
The platform focuses on alternative loan data beyond salary and bureau scores and is therefore able to pay out young professionals who are starting out with loans and are not paid (part-time, freelance and self-employed).
KreditBee products include
Flexi Personal Loan – You can borrow from INR 1,000 to 50,000 for a tenure of 62 days to 6 months
Personal Salary Loan – You can avail a loan between INR 10000 to INR 2 Lakhs for 3-15 months
Online Shopping Loan – This option allows you to avail e-vouchers in the KreditBee app and use them to purchase products/services from KreditBee partner platforms like Flipkart, Amazon, MMT, Myntra etc. You can repay KreditBee later in EMIs.
KreditBee has been instrumental in providing instant and hassle-free “KreditBee Card” to all its customers. More than 75% of these card customers acquired by the company are from metros and Tier-1 cities like Bangalore, Mumbai, Hyderabad, Pune and Thane among others. Currently, almost 70% of these cardholders are under the age of 30.
The “KreditBee Card” provides unserved and underserved bank customers with fast and secure access to short-term liquidity with multiple repayment options, eliminating the need for a separate line of credit. A customer can avail a credit limit of up to ₹10,000, which can be repaid within a single billing cycle not exceeding 45 days.
It will also help new credit customers build their credit scores, which can help them access financing in the future, while establishing a healthy credit culture and financial inclusion.
Key features of the KreditBee Card
100% Virtual – A virtual card will be generated in the app that can be used for transactions immediately
Safe & Secure – The card is generated in the KreditBee application and is secured by a PIN
Fast access – The underwriting process is controlled by artificial intelligence and generates the card instantly
Quick Credit Upgrade – Customers can upgrade their credit limit within one billing cycle
No hidden charges – 100% transparent product with absolutely no irrational fees and charges
What happens if you do not pay the KreditBee loan?
If you do not repay your loan on KreditBee, your CIBIL score will be affected, which will affect your ability to avail loans from any bank or financial institution in the future and you will automatically be ineligible for availing faster Personal Loans much higher value from KreditBee in the future.