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Learn about how to make your KreditBee loan repayment online, the associated fees, and how to manage your EMI payments seamlessly.
KreditBee offers a seamless loan repayment process with flexible online payment options. Paying online ensures you never miss a payment and helps you stay on track with your loan repayment schedule. The KreditBee online EMI payment system makes managing your payments hassle-free and efficient.
Repaying your KreditBee loan is simple and convenient with multiple online payment methods available. Here's how to make your KreditBee loan payment online:
Open the ‘Repayments’ section in the KreditBee app
Choose your preferred payment method (Net Banking, Debit Card, UPI)
Enter your payment details and confirm the transaction
Go to the ‘Repayments’ tab on the website
Once you click on this tab, you will be redirected to the ‘Login/Signup with Mobile’ page
Use your credentials to log in and proceed with the payment process as prompted
Choose your preferred payment method (Net Banking, Debit Card, UPI)
Enter your payment details and confirm the transaction
After completing your payment, you will receive an SMS confirming the transaction and an email stating the loan closure.
Understanding how to calculate your KreditBee loan repayment is crucial to managing your finances. To calculate the EMI, you can use the standard formula for loan repayments:
EMI = P × R × (1+R)^N / [(1+R)^N - 1]
Where:
P = Principal loan amount (the total amount borrowed)
R = Monthly interest rate (annual interest rate divided by 12, then by 100)
N = Loan tenure in months (the number of months over which you will repay the loan)
For example, if you take a KreditBee Personal Loan of ₹1,00,000 at an interest rate of 12% p.a. for 12 months, you can calculate the EMI as follows:
P = ₹1,00,000
R = (12% / 12) / 100 = 0.01
N = 12 months
Using the formula, the EMI amount can be calculated, giving you an idea of how much you’ll pay every month. You can also use the KreditBee Personal Loan EMI calculator for quick calculations before committing to a loan.
Before you make a payment, it’s important to be aware of the associated fees for your KreditBee loan repayment.
Here is a breakdown of the charges that may apply:
| Particulars | Details |
|---|---|
Late Payment Fees |
₹500 + 0.15% of the loan EMI (per day) ₹5 to ₹75 + ₹10 to ₹200 for flexi personal loans |
Foreclosure Charges |
Nil |
Convenience Fee |
₹6 to ₹15 per net banking transaction ₹0.90% of the loan amount for debit card transactions over ₹2,000 ₹5 to ₹11 per UPI transaction |
Processing Fee |
Up to 5.1% + GST |
Disclaimer: The mentioned charges are subject to change at the lender's discretion.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
You can repay your KreditBee personal loan through the KreditBee app or website, using options like Net Banking, Debit Card, or UPI.
Yes, you can repay your loan anytime before the due date, with no penalties or extra charges for early repayment.
If your repayment is delayed, a penalty of ₹500 per day plus 0.15% of the loan EMI will be applied. Additionally, overdue repayments will affect your credit score, making future loans harder to obtain.
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