KreditBee Personal Loan Interest Rates

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.

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

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

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

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

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.