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KreditBee Loan App: Information, Eligibility Criteria, Interest Rates, Review & More

KreditBee

If you are a salaried professional or a self-employed person, then you might require loans for various purposes. Getting an instant personal loan at a low-interest rate becomes a necessary requirement in such cases. This is where KreditBee can come to your rescue. You can now apply for a loan from the KreditBee App easily.

On the KreditBee loan app, as well as on KreditBee’s website, you will get every detail related to KreditBee loan details and the types of loans offered. Apart from that, you will also get a KreditBee loan amount list on the app.

In this article, we will mainly know about KreditBee, which offers quick personal loans as per the requirement of an individual. Furthermore, you will also get to know about the types of loans and interest rates offered by KreditBee. Moreover, we will also check whether KreditBee is a safe place to get a loan or not. Lastly, we will look at some useful user reviews about the KreditBee loan app.

KreditBee – A General Overview

KreditBee – A General Overview

KreditBee is a platform where multiple non-banking financial services companies offer you loans. The loans are instant, and the amount ranges from INR ₹1,000 to ₹4 Lakhs. You can avail of your loan as per your needs and requirements.

The best part about this app is that you will be able to get your loans fast and easily. Furthermore, the document verification process is also not time-consuming. The process is fast and free of hassles. On the other hand, you will get your loan by showing only minimal documentation through the KreditBee app. All these processes can be done online, in the comfort of your home.

KreditBee Is Safe Or Not: Is KreditBee Safe?

KreditBee Is Safe Or Not: Is KreditBee Safe?

As per our understanding of the KreditBee app, and the website, the platform seemed safe. The KreditBee website claims that they only work with licensed NBFCs of India –

“We host multiple non-banking financial companies (NBFCs) who have a license from the Reserve Bank of India (RBI).”

But we cannot certainly certify an NBFC to be safe. Many registered NBFs have been linked with big scams. Hence, their licenses were cancelled as well. So, caution is our utmost priority, while taking emergency loans from NBFCs like Kreditbee.  

Apparently KreditBee is safe.  

Not only is Kreditbee licensed to act as an officially RBI recognized NBFC in India. But they already have 4 million customers as well.  

The legalities are not the only context of safety, coming NBFCs.  

Safety of personal data, personal financial credentials and financial transaction safety also matters.

So, How Does Kreditbee Ensure Safety In These Niches?

Whether there are RBI regulations for ensuring safety of personal data of customers is another question.  

Section 45-IA of the RBI Act, 1934 says that Kreditbee is safe. Their app has the authorization to collect personal data for financial transactions. So, it’s Kreditbee’s liability to maintain the security of the personal data that they collect from their 4 million customers.  

Safety Measures of Kreditbee

Kreditbee is safe, as they have partnered with AWS to improve their security an stability. Experts say that stable financial transactions are safer. 

But how? 

The blockchain communications are better when you use a stable system. At the same time, the loopholes for hackers trying to siphon personal data of users are also minimal, when systems are stable.  

The Loopholes 

The datasets of Kreditbee’s central servers are increasing. So, these data centers can be soft targets for the cybercriminals.  

However, Kreditbee registered for Amazon GuardDuty to monitor the threats minutely. To improve security, Kreditbee uses Amazon Rekognition services too. This service software can prevent fraud comprehensively.  

Amazon rekognition allows Kreditbee to confirm the identity of applicants. So, you must submit a real-time photo while applying for a loan from their app.  

It’s not enough to upload your identity documents. Amazon Rekognitin helps in real time comparison between your current photo and your ID card’s photo.  

Threats from Chinese Patronization 

Are you aware of Chinese loan app?  

Digital lenders using funding from Chinese companies were common in India some years ago. However, The Indian government took stringent actions against them.  

Most of the apps were scamming people by setting up debt traps for them. However, most such apps’ licenses were canceled.   

For the time being, Kreditbee’s license was suspended as well. However, they submitted all necessary clean documents to regain their license. 

Kreditbee submitted: 

  • A clean shareholding structure without any Chinese influence 
  • All due and expected compliances 
  • Miscellaneous details  

Allied firms like Avail Finance, mPocket and others were stripped off their previous licenss. However, Kreditbee’s license was restored in full form.  

Kreditbee is safe for another reason. They were never associated with any Chinese gambling apps too. There are very less malicious transactions by Kreditbee customers as well.  

There is a clear scrutinization process as well.  

What was it banned in the first place 

Many people ask why the app was banned, if Kreditbee is safe in the first place? 

There were no statutory reasons for the ban. The only plausible cause is that the Indian government did it as a cautionary move under critical circumstances.

Benefits Of Investing In Kreditbee

There are various benefits of making investments in the Kreditbee. You must be well accustomed of it while meeting your goals with complete ease. Some of the key benefits that you must know about it are as follows:-

1. Exposure To Fintech Growth

Fintech companies, especially those focusing on lending and credit services, have witnessed substantial growth due to increased digital adoption and demand for convenient financial solutions. Personal loan businesses are susceptible to default risks. Economic downturns or changes in borrower behaviors can affect the company’s asset quality and profitability.

2. Growing Market Potential

In India, there’s a significant demand for accessible credit services, particularly among segments with limited access to traditional banking. Platforms like KreditBee cater to this demand, potentially offering growth opportunities.

3. Tech-Driven Innovation

Fintech companies often leverage technology to streamline processes, offer quick approvals, and provide personalized financial solutions. Investments in innovative platforms may benefit from technological advancements. You need to understand the reality while meeting your needs with complete ease. Once you follow the correct solution things can become easier for you.

4. Scalability & Reach

Successful platforms like KreditBee have the potential to scale their operations rapidly, expanding their user base and services, which could translate to increased revenues and profitability.

5. Diversification

Investing in fintech platforms like KreditBee can diversify an investment portfolio, providing exposure to a different sector with growth potential beyond traditional industries. The fintech space is highly competitive. Established players or new entrants with innovative solutions could challenge KreditBee’s market position.

Before investing in KreditBee or any similar company, it’s essential to conduct thorough research, understand the company’s financial health, growth prospects, regulatory environment, and competitive landscape. Diversifying investments across different sectors and consulting with financial advisors can help manage risks associated with investing in individual companies or specific sectors.

KreditBee Loan Details And KreditBee Interest Rate  

KreditBee Loan Details And KreditBee Interest Rate  

The following is the KreditBee Loan Amount List, where you will get all the details of the types of loans KreditBee offers you:

1. KreditBee Personal Loan For Salaried

As a salaried individual, KreditBee offers you a loan of up to 200% of your net monthly salary. Here are some features:

Loan FactorWhat Do You Get?
Loan AmountINR 10,000 to 3,00,000
Rate of Interest15.00% – 29.95% (per annum)
Time of Disbursement1 working day
Tenure3 to 15 months
Minimum Salary RequirementNet Salary of INR 15,000 per month

2. KreditBee Online Purchase Loan/E-Voucher Loan

You will get this loan to finance your shopping, but only on the platforms of KreditBee partners. Here are some features:

Loan FactorWhat Do You Get?
Loan AmountWithin the assigned credit limit as per the KreditBee app- Down payment amount selected to purchase the product.
Rate of InterestUp to 24% per annum
Time of DisbursementInstant (only a few minutes)
TenureWithin a year
Minimum Salary RequirementNot Available

3. KreditBee Flexi Personal Loan

If you are a salaried individual looking for a small-sized loan to take care of small expenses and unexpected emergencies, then this KreditBee loan is the best option for you. Here are some features:

Loan FactorWhat Do You Get?
Loan AmountINR 1000 to 10,000
Rate of Interest18.00% – 29.95% per annum
Time of DisbursementWithin 15 minutes of application
TenureMinimum 62 days to 6 months.
Minimum Salary RequirementNet Salary of INR 10,000 per month

KreditBee Loan Eligibility  

All the different types of loans offered by KreditBee that you saw above have their own eligibility and requirements. Here is what you need to know:

1. KreditBee Personal Loan For Salaried

CitizenshipIndian
Age21 to 45 years
Work ExperienceMinimum 3 months (current organization)
Minimum Salary RequirementNet Salary of INR 15,000 per month.
Required Documents– PAN Card- Voter ID Card, Aadhaar Card, Passport- Salary slips- Bank statement of salary account

2. KreditBee Online Purchase Loan/E-Voucher Loan

CitizenshipIndian
AgeAbove 21 years
Work ExperienceNA
Minimum Salary RequirementNA
Required Documents– PAN Card- KYC Address Proof

3. KreditBee Flexi Personal Loan

CitizenshipIndian
Age21 to 45 years
Work ExperienceNA
Minimum Salary RequirementNet Salary of INR 10,000 per month.
Required Documents– PAN Card- Voter ID Card, Aadhaar Card, Passport

How To Get A Loan From KreditBee? – A Few Steps  

How To Get A Loan From KreditBee – A Few Steps

The following are the steps you need to follow to avail yourself of a KreditBee loan through the app:

Step 1: Login or sign-up using the KreditBee mobile app.

Step 2: Enter your basic information and data, and check your eligibility

Step 3: Upload your KYC and address proofs and verify your profile.

Step 4: Offer your bank account details.

Step 5: Choose the amount and tenure of your loan.

KreditBee Reviews

Although there have been very few KreditBee complaints, here are some of the useful KreditBee reviews that you must check:

Review 1:

venkatadrepalem1
Review Source

Review 2:

reyansh8478
Review Source

Review 3:

SANDEEPSINGH952
Review Source

Final Thought  

As you can see from the article, as well as the user reviews, KreditBee is a safe place to get your instant personal loans from. To avail yourself of a KreditBee loan, all you need is to follow the steps given in this article and fulfill your business or personal needs. Hope that you have found enough details regarding the loans and interest rates of KreditBee in this article. What do you like the best about the KreditBee loan app? Share your reviews with us in the comments section below.

Read More About:

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Soumava Goswami

Inspired by The Social Network, Soumava loves to find ways to make small businesses successful – he spends most of his time analyzing case studies of successful small businesses. With 5+ years of experience in flourishing with a small MarTech company, he knows countless tricks that work in favor of small businesses. His keen interest in finance is what fuels his passion for giving the best advice for small business operations. He loves to invest his time familiarizing himself with the latest business trends and brainstorming ways to apply them. From handling customer feedback to making the right business decisions, you’ll find all the answers with him!

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