What happens if I don't repay on time? Your CIBIL score will get affected, which will affect your ability to avail loans from any bank or financial institution in the future. You will automatically be ineligible for availing quicker Personal Loans of a much higher value from KreditBee in the future.
Can KreditBee take legal action?
KreditBee shall to the best of its abilities aid the concerned User in terms of provision of information to initiate any legal proceedings. However, KreditBee shall not be responsible for any default on behalf of the User.
Is KreditBee is RBI registered?
KreditBee Services Private Limited (“Company”), a Non-Banking Finance Company registered with Reserve Bank of India (“RBI”) is presently in the business of providing different types of loans which includes consumer loans, auto loans, and SME loans, to its various customers.
Can we foreclose loan in KreditBee?
Flexible tenure: You can repay your KreditBee Loan in flexible repayment tenure ranging between 62 days and 15 months. No prepayment or foreclosure charges: You can make payments before the stipulated repayment period and close the loan faster without paying any additional fees.
Can I get loan after settlement in KreditBee?
Yes, based on your repayment behaviour and documents provided, you may avail a loan with an amount more than ₹ 1,00,000/-.
Is KreditBee an Indian company?
Founded in 2018, Bengaluru-based fintech startup KreditBee is registered as Finnovation Tech Solutions Pvt Ltd. Founders Madhusudan Ekambaram, Karthikeyan Krishnaswamy and Vivek Veda started the company with the mission of democratising credit.
Who is owner of KreditBee?
Madhusudan Ekambaram
How do I close my KreditBee loan?
You can request us to block/deactivate your KreditBee account by dropping a request to us at help@kreditbee.in. Your request would be processed ONLY if there are no outstanding dues against your account.
Can a loan company take you to court?
You may be wondering “will a debt collector take me to court?” While it is a possibility, a creditor rarely uses legal action as a first attempt to collect an outstanding debt. These calls and letters may persist for many months before debt collection agencies try to sue you for the money.
Can a loan company take you to jail?
Can You Go To Jail For Not Paying Debt? (including student loans & credit card debt) The short answer is no you will not go to jail for failing to pay back your debts.
Can you go to jail for not paying online loan?
The short answer is no you will not go to jail for failing to pay back your debts.
What happens to unpaid online loans?
When you fail to pay your EMI on the online loan, the lender will send you an intimation about the amount due to be paid. You can then repay the loan with a penalty as prescribed by the lender. Failing to pay continuously for more than 6 months will make the lender to write off your account.
Can I delete KreditBee account?
How can I block/deactivate my KreditBee account? You can request us to block/deactivate your KreditBee account by dropping a request to us at help@kreditbee.in.
How do I close my loans?
- Visit bank with the complete set of documents (as mentioned above).
- You may be required to fill a form or write a letter requesting pre-closure of the Personal Loan account.
- Pay the pre-closure amount.
- Sign the required documents, if any.
- Take acknowledgement of the balance amount you have paid.
Is CashBean registered with RBI?
The CashBean website said that P.C. Financial Services is a Non-Banking Finance Company(NBFC) duly registered with Reserve Bank of India(RBI), engaged in the business of providing loans. Its customers avail loans by applying online on the mobile App.Oct 1, 2021
Is KreditBee safe or not?
Is my data safe with KreditBee? Yes, your data is safe with us. It is transferred over a secure connection to us, and we only share it as per our privacy policy for the purposes of facilitating a loan for you.
What happens if we are unable to pay loan?
In many cases, a loan in default may be sent to the lender's collections department or sold to a third-party collections agency. Going into default may also result in your wages or tax refund being garnished if the creditor seeks a judgment against you.
Is KreditBee approved by RBI?
List of our lending partners is provided at Schedule 1 herewith. KreditBee is a platform facilitating the loan transactions between the borrowers and the NBFCs/Banks. All loan applications are approved and sanctioned by NBFCs/Banks registered with RBI and communicated upfront during Loan application.