TrueBalance Loan
TrueBalance offers instant loans up to Rs. 2 Lakhs for a 6 to 12 months tenure. TrueBalance loan interest rate starts from just 2.4% per month, and a processing fee of up to 10% is charged on the sanctioned loan amount. It offers online personal loans through RBI-licensed NBFCs, making it a secure way of getting quick funds for all your personal needs.
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
The main features and benefits of a personal loan offered by the TrueBalance loan app are:
- Instant cash loan of Rs. 5,000 to Rs. 2,00,000.
- Flexible tenure of 6 to 12 months.
- Interest rate starting from just 2.4% per month.
- A processing fee of 0% to 10% is levied.
- APR ranges from 16% to 43%.
- Loans disbursed by the RBI-licensed NBFCs in partnership with TrueBalance’s partners.
- EMI due date is the 5th of every month.
- A secure and convenient way to avail of a personal loan online.
- 24/7 loan credit access to eligible customers.
- 100% digital and paperless process with quick disbursal.
- Transparent terms with no hidden fees.
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
The documents required for the TrueBalance personal loan are as follows:
- 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
The minimum and maximum loan amount offered by TrueBalance is Rs. 5,000 and Rs. 2,00,000, respectively.
The interest rate for TrueBalance Loans starts from 2.4% per month.
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.
The loan tenure available on TrueBalance Loans is 6 to 12 months.