Fees & charges
No hidden costs. Every charge that can apply to a loan facilitated through CredBean is listed here, along with the Key Fact Statement your lending partner must give you before you sign.
Schedule of charges
| Loan amount | ₹5,000 – ₹5,00,000 |
|---|---|
| Tenure | 3 – 60 months |
| Annual Percentage Rate (APR) | 14.5% – 34% p.a. on a reducing balance, set by the lending partner based on your profile |
| Processing fee | Up to 2% of the sanctioned amount, one time, deducted at disbursal (plus GST). |
| Penal charges | Penal charges on overdue EMIs are levied by the lending partner as a fixed amount and are never capitalised — TO BE CONFIRMED per partner. |
| Bounce / mandate failure | Mandate/EMI bounce charges as specified in your loan agreement — TO BE CONFIRMED. |
| Foreclosure & part-prepayment | Nil foreclosure or part-prepayment charges after the first EMI is paid. |
| Charges payable to CredBean | No membership, subscription or advance fee is ever charged by CredBean. |
Your Key Fact Statement (KFS)
Before you sign any loan agreement, the lending partner must give you a Key Fact Statement in a language you understand. It states your sanctioned amount, the all-inclusive APR, every fee, the EMI, the total amount repayable and the recovery mechanism. Nothing outside the KFS can be charged to you. If a figure on your KFS does not match what you saw on CredBean, stop and write to hello@credbean.com before signing.
Cooling-off period — 3 days
As required by the RBI Digital Lending Directions, you may exit the loan within 3 days of signing the agreement by repaying the principal and the proportionate APR, without any penalty. Tell your lending partner, or write to hello@credbean.com and we will pass the request on the same working day.
Representative example
Representative example: ₹75,000 for 18 months at 14.5% p.a. — EMI ₹4,661, total interest ₹8,902.
What we will never do
CredBean never asks for an advance fee, security deposit, membership or "processing charge" paid to a personal account before disbursal. Disbursal always goes straight from the lending partner's bank account to your own bank account — never through a wallet, agent or third party. Repayments must also be made only to the lending partner. Report anyone asking otherwise to hello@credbean.com or +91 98990 20223.
Important disclosure
CredBean is a brand of Privena Financial Services Private Limited. CredBean is a technology platform and does not lend on its own account. Loans are offered by RBI-registered lending partners. Interest from 14.5% p.a. reducing balance; processing fee up to 2%. Representative example: ₹75,000 for 18 months at 14.5% p.a. — EMI ₹4,661, total interest ₹8,902. Credit at sole discretion of the lending partner.