You can get a KreditBee Personal Loan at interest rates starting from 1.25% per month. Multiple factors have a major impact on the interest rates of your loan. These include your credit score, income, employment history, and more. Also, the additional charges associated with the loan can impact the total borrowing cost. Understanding the interest rate charged on your loan and other related charges is important to make informed decisions. You can also compare the KreditBee Personal Loan interest rate with rates offered by other lenders on Bajaj Markets before applying.

Details of KreditBee Personal Loan Interest Rates

Here are the interest rate details of a KreditBee Personal Loan:

Particulars

Details

Interest Rate

1.25% p.m. or 15% p.a. onwards

Processing Fee

Up to 3% of the loan amount

*Disclaimer: The mentioned values are subject to change at the lender’s discretion.

Other Fees and Charges Associated with KreditBee Personal Loans

Let’s check the other fees and charges you should know about alongside the interest rate:

Particulars

Details

Convenience Fee

  • No fees for NEFT/IMPS transfer

  • ₹6 to ₹15 per net banking transaction

  • 0.90% of the loan amount for debit card transactions of over ₹2,000

  • ₹5 to ₹11 per UPI transaction

Late Payment Fees

  • A per-day penalty of ₹500 + 0.15% of the loan EMI

  • A per-day penalty of ₹5 to ₹75 and a fine of ₹10 to ₹200 for flexi personal loans

*Disclaimer: The mentioned values are subject to change at the lender’s discretion.

Factors Affecting KreditBee Personal Loan Interest Rates

The following factors may impact your KreditBee Personal Loan interest rate:

  • A high credit score shows reliability, making you eligible for a low interest rate

  • Higher earnings assure the lender of your repayment ability, which can lead to a low interest rate

  • Having a stable job can help assure the lender of your ability to make regular payments. This makes them less reluctant to offer low interest rates to you.

  • Usually, the shorter the tenure, the higher the interest rate. Similarly, the longer the tenure, the lower the rate.

  • The debt-to-income ratio shows how much of your income is used to repay your debt each month. This helps the lender see if you have enough income to repay the new loan after your obligations. A lower ratio can help you get better loan terms.

  • Your employment type, i.e., salaried or self-employed, can influence the interest rate

  • Changes in government policies or inflation can affect your personal loan interest rates

How To Calculate the EMI for a KreditBee Personal Loan?

To calculate the EMI for your KreditBee Personal Loan, you can use the following formula:

EMI = P x R x (1+R) ^N / [(1+R) ^N-1]

 

Here,

 

  • EMI = The instalment amount

  • P = The borrowed principal amount 

  • N = The repayment period

  • R = The interest rate

 

To avoid any miscalculations or errors, you can also use the personal loan EMI calculator available on Bajaj Markets. This tool can help you compute the instalment of your loan for free within seconds. For this, simply enter the loan amount, interest rate, and tenure in the calculator. You can also check the total interest charges payable on the loan, the amortisation schedule, and aggregate repayment costs. 

 

Let’s check the EMI of your KreditBee Personal Loan with the help of the following example. Consider you have a loan of ₹10,000 at an interest rate of 15% p.a. for a tenure of 12 months. Enter these 3 details in the EMI calculator which will compute the instalment amount instantly. In this case, the EMI amounts to ₹902.58. Remember, a change in any of the three loan terms has a massive impact on the loan EMI. Check the various combinations and offers with the help of this tool to identify the loan terms that best suit your financial needs and preferences.

Compare KreditBee Personal Loan Interest Rates with Other Partners

Our Partners
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Minimum Interest Rate
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Maximum Loan Amount
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Maximum Loan Tenure
sort list
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Bajaj Finance Limited

11% p.a.

₹35 Lakhs

96 months

4.7
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CASHe

27% p.a.

₹4 Lakhs

18 months

4.4
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Federal Bank

11% p.a.

₹5 Lakhs

48 months

4
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Fibe

14% p.a.

₹5 Lakhs

36 months

4
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Finnable

15.95% p.a.

₹10 Lakhs

60 months

4
Image

IIFL Finance

18% p.a.

₹5 Lakhs

42 months

4.1
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InCred

16% p.a.

₹10 Lakhs

60 months

4.3
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Kissht

14% p.a.

₹4 Lakhs

24 months

4.2
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Kotak Mahindra Bank

10.99% p.a.

₹40 Lakhs

72 months

4.2
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KreditBee

15% p.a.

₹5 Lakhs

24 months

4.1
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L&T Finance

12% p.a.

₹7 Lakhs

48 months

4.6
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moneyview

1.33% p.m.

₹10 Lakhs

60 months

4.2
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mPokket

24% p.a.

₹45,000

90 days

4.1
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Muthoot Finance

14.50% p.a.

₹15 Lakhs

60 months

4
Image

Olyv

18% p.a.

₹1 Lakh

12 months

4.1
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PaySense Partners

15% p.a.

₹5 Lakhs

60 months

4.3
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Privo

9.99% p.a.

₹5 Lakhs

60 months

4.5
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SMFG India Credit

12% p.a.

₹25 Lakhs

60 months

4.2
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Upwards

1.5% p.m.

₹5 Lakhs

36 months

4.3
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YES BANK

10.99% p.a.

₹50 Lakhs

72 months

4.2
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Zype

18% p.a.

₹3 Lakhs

12 months

4
View More

Frequently Asked Questions

Who is eligible for a personal loan from KreditBee?

To get a KreditBee Personal Loan, you must fulfil the following eligibility criteria:

  • Age over 21 years

  • Indian citizenship

  • Minimum monthly salary of ₹10,000

  • Aadhaar card linked to your mobile number

 

Also, you are required to provide some documents when applying for the loan. These usually include:

  • PAN card

  • Bank statement or salary slip

  • Aadhaar card/passport

  • Employment proof

Be sure to get a complete list of these requirements from KreditBee before applying for a loan. 

What is the minimum salary required to apply for a KreditBee Personal Loan?

A minimum salary of ₹10,000 per month is required to be eligible for a KreditBee Personal Loan.

How to check the interest charges payable for a KreditBee Personal Loan?

Use the personal loan EMI calculator for this. Provide the loan amount, interest rate, and tenure. The tool will calculate the EMI, total interest payable, and the cumulative repayment amount. Also, an amortisation schedule is provided which can help you understand what portion of your EMI is used to pay the interest charges each month.

What is the late payment fee charged on a KreditBee Personal Loan?

You are usually required to pay 0.15% of the EMI + ₹500 per day as a penalty for late payments. This is the case for regular personal loans. For flexi personal loans, the per-day penalty ranges from ₹5 to ₹75 + ₹10 to ₹200.

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