TrueBalance Loan
TrueBalance offers instant personal loans ranging from ₹5,000 to ₹2,00,000 with a flexible repayment tenure of 6 to 12 months. The interest rate starts from 2.4% per month, and a processing fee of up to 10% may be charged on the sanctioned loan amount, making it a convenient option for meeting short-term financial needs. Final loan offer is based on your credit score, income, and overall eligibility. TrueBalance loans are offered through RBI-licensed NBFC partners, ensuring a secure and reliable borrowing experience. The loan is suitable for both salaried and self-employed individuals, and in some cases, additional documents such as bank statements may be required during verification. With ₹70,000 Million+ loan amount disbursed and over 3 Million+ customers served, TrueBalance has become a trusted platform for quick and hassle-free online personal loans.
TrueBalance Personal Loan App Details
Below are the key details of the True Balance loan:
| Loan amount | Rs. 5,000 - Rs. 2,00,000 |
|---|---|
| Tenure | 6 - 12 months |
| Interest rate | Starts from 2.4% per month |
| Processing fee | 0% - 10% of the loan amount |
| Annual Percentage Rate (APR) | 16% - 43% p.a. |
| Age | 18 - 58 years |
Features & Benefits of True Balance Loan
- 24×7 Availability: Access loan services anytime, anywhere through the TrueBalance app.
- 100% Safe Lending: Loans are provided through RBI-licensed NBFC partners, ensuring a secure borrowing experience.
- 100% Digital Process: Enjoy a completely paperless application with quick verification and minimal documentation.
- Quick Loan Disbursal: Get fast approval and quick credit of funds directly to your bank account.
- Loan Amount: Instant cash loans ranging from ₹5,000 to ₹2,00,000.
- Flexible Repayment Tenure: Choose a repayment period of 6 to 12 months based on your convenience.
- Affordable Interest Rates: Interest rates start from just 2.4% per month.
- Processing Fee: A processing fee ranging from 0% to 10% may be charged on the sanctioned loan amount.
- APR Range: Annual Percentage Rate (APR) ranges between 16% and 43% depending on eligibility.
- Fixed EMI Schedule: EMI due date is the 5th of every month for easy repayment planning.
- Transparent Terms: Enjoy clear terms and no hidden charges on your loan.
TrueBalance Personal Loan Interest Rates & Charges
The interest rate and charges of the TrueBalance personal loan are as follows:
| Interest rate | Starts from 2.4% per month |
| Processing fee | 0% - 10% of the loan amount |
| Annual Percentage Rate (APR) | 16% - 43% p.a. |
Compare TrueBalance Loan App with Other Loan Apps
Below is the comparison of the personal loan taken from the TrueBalance personal loan app with other app-based personal loans:
| App | Loan Amount | Rate of Interest | Tenure |
|---|---|---|---|
| TrueBalance | ₹5,000 - ₹2,00,000 | 2.4% p.m. onwards | 6 - 12 months |
| Anytime Rupee | ₹2,000 - ₹30,000 | 0.1% - 1% per day | 62 - 90 days |
| Ram Fincorp | ₹4,000 to ₹2 Lakhs | 0.35% to 1% per day | 90 days to 365 days |
| Kundanmal Finance | ₹5,000 - ₹2,00,000 | 1.5% - 2.92% p.m. | 90 - 365 days |
| mPokket | ₹500 - ₹50,000 | 0% - 4% p.m. | Up to 4 months |
| PayRupik Loan | ₹1,000 - ₹1,00,000 | Up to 36% p.a. | 91 - 365 days |
| FatakPay | ₹30,000 - ₹5,00,000 | 12% to 35.95% p.a. | 3 months - 3 years |
| Buddy Loan | ₹10,000 - ₹15,00,000 | 11.99% p.a. onwards | 6 months - 5 years |
| PhonePe | ₹5,000 - ₹5,00,000 | 13% - 20% p.a. | Up to 5 years |
| Kamakshi Money | ₹1,000 - ₹2,00,000 | 18% p.a. onwards | Up to 3 months |
True Balance Loan Eligibility Criteria
Below are the detailed eligibility criteria of the TrueBalance personal loan:
- Age: The applicant must be 18 to 58 years old.
- Citizenship: The applicant must be an Indian citizen and resident.
- Employment: The applicant must be salaried or self-employed.
- Monthly Income: The applicant must be earning a minimum average salary of Rs. 10,000.
Documents Required for TrueBalance Personal Loan
No physical documents required for the TrueBalance personal loan, below details might required to upload
- PAN Card
- One of the mentioned officially valid documents: Passport, Driving License, Aadhaar Card, Voter's ID, or NREGA Job Card
- Bank statement (for Cash Loan)
- True Balance may ask for one-time access to the camera for the customer onboarding KYC process.
How to Apply for a TrueBalance Loan Online
Follow the steps mentioned below to apply for the TrueBalance loan:
- Download and install the True Balance app from the Google Play Store.
- Sign up/register with your phone number.
- Select the Cash Loan option from the Loan Product.
- Finish the KYC process by providing PAN.
- Upload your bank statement, and follow the instructions to check your eligibility for a Cash Loan.
- Provide bank details and set up auto-debit to get a quick loan disbursal.
TrueBalance Loan Customer Care Details
Below are the TrueBalance loan customer care details for any service-related queries or feedback:
- Email: cs@balancehero.com
- Customer support number: (0120) - 4001028
- Alternatively, you may use the True Balance App to register a complaint or report an issue. They generally respond within 24 - 48 working hours.
FAQs
Yes, TrueBalance loans are considered safe as they are disbursed through RBI-licensed NBFC partners. The platform follows secure digital lending practices and provides transparent loan terms, interest rates, and repayment schedules.
TrueBalance itself is not an NBFC but operates as a digital lending platform that partners with RBI-licensed NBFCs to offer personal loans. This ensures that the loans are provided through regulated financial institutions following RBI guidelines.
TrueBalance loan approval typically happens within minutes.
Yes, you can repay your TrueBalance loan early without penalty, as TrueBalance allows early repayment through the app.
You can get an urgent loan of ₹20,000 through the TrueBalance app by completing the online application process. Eligible users can apply digitally, verify their details, and receive quick loan approval with funds disbursed directly to their bank account.
If a TrueBalance loan is not repaid on time, late payment charges may apply and it can negatively impact your credit score. Continued non-payment may also lead to recovery actions by the lending NBFC as per the loan agreement.