Personal Loan App Online Loan KreditBee Application from play store: Loans up to 5 lakhs will be available in a 5-minute navy Lending App has introduced a great plan for its customers. With the help of this app, you can take a personal loan in a few minutes.
Navi Lending App has officially announced the launch of a plan to provide instant loans to the public. With the help of this app, you can take a loan of up to 5 lakhs through the digital and contactless process. You will get 36 months to repay this loan. Personal Loan App Online is also useful for all.
Loans range from ₹1,000 to ₹200,000
Tenure: 62 days to 15 months. Interest rates range from 0%-29.95% depending on the risk profile of the customer and product availed
Example: If the loan amount is ₹50,000 & interest is 22% per annum with tenure of 62 days; after deducting any other fees
Interest = ₹50,000 x 22%/365 x 62 = ₹1,868
KreditBee is an Instant Personal Loan App & Credit Platform for Young Professionals across India, where one can apply for Personal Loan Online & avail up to ₹2 Lakh as Direct Cash Transfer to Bank Account.
Flexi Personal Loan – A flexible loan option where you can avail loans within 10 minutes of app install as direct bank transfer. All you need is your PAN Card, ID & Address Proof, and you can avail from ₹1,000 to ₹50,000 for a tenure ranging from 62 days to 6 months.
Personal Loan for Salaried – A personal loan option where you can avail amounts from ₹10,000 to ₹2 Lakhs as direct bank transfer for a tenure ranging from 3 to 15 months. All you need is your PAN Card, ID, Address Proof, and Salary Proof.
Online Purchase Loan – A loan option where you can Buy anything Now, Pay Later in EMIs. Via this option, you can avail e-vouchers on KreditBee App on loan, purchase on KreditBee’s partner platforms like Flipkart, Amazon, MakeMyTrip, Myntra & many more through those e-vouchers, and pay KreditBee later in EMIs.
1. 100% Online process
2. Minimal documentation
3. Fast approval
4. Immediate bank transfer
Benefits & Risks
1. Get access to higher amounts & tenures as you repay on time
2. As a compliance requirement your payment behavior is shared with credit rating agencies; based on that your credit score may increase/decrease
1. Indian resident
2. Above the age of 21 years
3. Should have a monthly source of income
How to get started
1. Install KreditBee App
2. Register through your Facebook/Google account
3. Fill your basic details to check first level eligibility
4. Upload KYC documents – ID, Address Proof & PAN card
5. Avail Loan as bank transfer or e-voucher as per your request
Amount, Tenure, Fees & Charges
Loans amount: ₹1,000 to ₹200,000, Tenure: 62 days-15 months. KreditBee charges a one-time service fee while onboarding or during the upgrade which is ₹30-₹350 depending on the risk profile and membership band availed by the customer. Interest rates range from 0%-29.95% with an equivalent monthly interest rate of 0%-2.49% only. A small processing fee is charged for loans e.g. for low-risk customers 0%-3% of the principal, for very high-risk customers 2.5%-6.5%*. The charges and repayment tenures vary based on the creditworthiness and repayment ability of the customers.
The penalty is charged only when someone delays their scheduled payment.
The APR for different products is separate as per the risk profile of the customers. The APR for different personal loan products: low-risk customers are 0%-36%, medium risk customers are 18%-39%, high-risk customers is 24%-42%* and very high-risk customers is 24%-70%*.
In addition to it, GST will be applicable only to the fee components as per Indian laws.
*The higher charges are only for loans of the lower amount and lower repayment tenure.
A new low-risk customer availing personal loan for salaried can avail a loan of ₹50,000 at an interest rate of 22%, processing fee of ₹1,250 for a period of 12 months, and onboarding fees of ₹350. This would translate to an APR 25.2%.
If the loan amount is ₹50,000 & interest is 22% per annum; and the loan is to be repaid over 12 EMIs, then overall interest payable is ₹6,157 only. The EMI per month would be ₹4,680 only.