Terms of use

Our role

CredBean is a lending service provider and technology platform. It does not lend on its own account. Loans are sanctioned and disbursed at the sole discretion of RBI-registered lending partners.

Eligibility

You must be an Indian resident aged 21 to 58, with a valid PAN, Aadhaar, bank account and a verifiable source of income. Submitting false information may lead to rejection and reporting.

Fees and interest

Interest starts at 14.5% p.a. on a reducing balance. A one-time processing fee of up to 2% applies. Late payment charges, if any, are disclosed in the Key Fact Statement before you accept the loan.

Repayment

EMIs are collected by e-mandate on the due date. Missed payments may attract charges and are reported to credit bureaus. Prepayment and foreclosure are permitted after the first EMI at no extra cost.

Fair practices

Collection follows the RBI Fair Practices Code. Recovery agents may contact you only between 8:00 AM and 7:00 PM and may never use abusive or coercive means.

Changes

These terms may be updated. Continued use of CredBean after an update constitutes acceptance of the revised terms.