What is KreditBee?
The working population of India includes a large number of professional workers and freelance employees. They usually live in a stable financial situation but might require some larger amounts of money for any emergencies that pop up. Occasionally, they do need financial aid to make two ends meet. However, most of the time, the entire documentation processes for loans can take too long, thus causing frustration during difficult times. With the help of KreditBee, you no longer need to worry about whether you can accumulate the funds in time.
KreditBee (1) is an online personal loan platform where you can apply for a loan without going through lengthy and tiring documentation processes. It is a startup that understands the situation of employees and helps them out when they have an urgent need for funds. If you are a self-employed or salaried professional, you can apply for a personal loan through KreditBee and get it within 15 minutes. KreditBee provides loans from 1000 rupees to two lakh rupees based on the customer’s requirement.
KreditBee provides you with loans in different ticket sizes and reimbursement terms so that it might be convenient for all unexpected necessities of money. Within the last single year, KreditBee has built more than one million clients who approached the platform with valid bureau scores to obtain loans from banks. As of now, KreditBee has more than 30 Million App downloads inside two years of activity. Around five million people have availed loan from KreditBee out of which two million are active customers.
The features of KreditBee
The best part about KreditBee is the flexibility of their services. They also require very few documents and do not give you a hard time about presenting them. Regardless of whether you have not taken a loan previously, or don’t have a credit card, you will be able to avail a loan quickly from KreditBee. They charge you a processing fee starting from 100 rupees. KreditBee usually provides you with a reimbursement term of up to 15 months. The interest rates of the loans availed from KreditBee is 0 per cent to 29.95 per cent per annum.
More often than not, your financial needs arise when you are least expecting it. KreditBee provides loans for various reasons such as problems related to health, celebration shopping, paying your EMIs/bills, and so forth. You can apply for a loan from KreditBee even if it is something you need for yourself, such as a holiday, tickets for concerts or shows, or simply to satisfy the shopaholic in you.
KreditBee believes that the working population should not miss out on an active social life. It is not fair that they should give up their dream concert or vacation just because they do not have ready cash with them. All procedures of KreditBee are carried out through the Internet, and they have numerous Non-Banking Financial Companies (NBFCs) who have a permit from the Reserve Bank of India (RBI). This incorporates KreditBee Services Private Limited and partners of this startup.
The founder and team of KreditBee
The founder and CEO of KreditBee is Madhusudan Ekambaram. He created the company during a time when the citizens of India were not even familiar with the team “digital lending”. Even before launching KreditBee, Madhusudan Ekambaram had five years of expertise in the personal finance sector. He had also been closely observing the area for a few decades. He realised that people had to go through various troubles to get the banks to approve and credit a loan.
Most workers and employees had to sacrifice a lot of time and effort to submit the required documents. Even so, there was no assurance that they would finally be able to receive a loan. Moreover, these services were only available during the working hours of the bank. People who lived in areas with less banks had a difficult time finding money when any emergency arises. Madhusudan felt the need to create an online platform that could solve all these issues.
KreditBee has a team of graduates from the best institutions such ad National University of Singapore, IIM Bangalore, IIM Indore and NITK Surathkal. They are a group of individuals who concentrate their endeavours on just a single thing: being the best at what they do and nothing less. At KreditBee, they keep making constant changes. They are continually searching for the most effective and client driven method of doing everything. KreditBee persistently assesses their work, and keeps looking for chances to learn and develop. The company strives to empower their employees to accomplish their objectives and inspire them to contribute their ideas to KreditBee.
The types of loans from KreditBee
- Personal Loan: KreditBee provides this loan to enable salaried workers to address any immediate need of money that they might encounter. It can be frustrating when this need arrives toward the end of the month before their incomes are credited. In most companies, the employers do not permit the workers to lease money against their salaries. These loans can be helpful for such individuals who require critical payment. Personal loans require very few documents and KreditBee dispenses it to your record very quickly. This loan is also useful in circumstances when your pay gets postponed, and you need to deal with any other loan instalments.
- Flexi Personal Loan: To obtain higher sums from KreditBee, you can apply for a Flexi Personal Loan. It is a loan with less period of repayment and loan sum. KreditBee will qualify you for higher sums as and when you reimburse every one of your pending loans. In any case, there is no assurance that you will be qualified for a sum of Rs.1 lakh after you have effectively reimbursed your loans. To be qualified for the Flexi Personal Loan from KreditBee, you have to reimburse your past debts. Once they affirm and transfer the amount, you cannot change the period of reimbursement. On the off chance that your application for a Flexi Personal credit gets dismissed, you can reapply inside half a year from your past application.