A Step-by-Step Guide on Using the TrueBalance App to Apply for a Loan
A complete guide to How to apply loan from Truebalance application,millions of people now have access to personal loans thanks to the rise in popularity of the digital lending sector and smartphone-based lending apps like TrueBalance. Short-term loans from TrueBalance are quick, easy, and made to meet your urgent financial needs. We’ll walk you through the whole loan application procedure through the TrueBalance app in this guide.
Describe TrueBalance and get to know How to apply loan from Truebalance application.
An Indian fintech company called TrueBalance offers mobile recharges, utility payments, personal loans, and other financial services. It’s well-known for providing small-ticket loans that are simple to apply for and repay, which makes it the perfect choice for consumers in need of quick cash without having to cope with the drawn-out procedures of traditional banks.
Essential Elements of TrueBalance Loans
Amount of Loan: ₹1,000–₹50,000
Duration of Loan: 62 to 90 days
Interest rates: $2.4% monthly starting point
Indian nationals with a reliable source of income are eligible.
No collateral required: loans are unsecured, so you do not need to pledge any assets.
Prior to submitting an application for a loan on TrueBalance, confirm that you possess the following:
1) Aadhar and PAN cards are valid forms of identification for KYC verification.
2) Bank Account: A current bank account that is eligible to receive loan funds.
3) Truebalance requires a stable income for payback their debt.
4) Truebalace application is a mobile based application so a smartphone required to apply the loan.
How to apply loan from Truebalance application following are the steps
Step 1: Install and download the app
Hello Friend, Are you in urgent need of money? Quick loan for you in minutes from True Balance! Downloading the TrueBalance app from the following link.
https://kjkf8.app.goo.gl/3yQdrXP6jb2gSY247
Look up “TrueBalance.”
While you wait for the app to download, click Install.
Step 2: Sign up or Sign in
Following app installation:
1) When it opens, choose your preferred language.
2) Use your mobile number to register.
3) To confirm it, enter the OTP that was issued to your mobile number.
4) Enter your name, email address, and birthdate when creating a profile.
Third Step: Finish the KYC Verification
You will be required to finish the KYC (Know Your Customer) procedure after enrolling. This is an important step since without KYC verification, no loan will be issued.
1) Enter your Aadhar number and use an OTP to confirm it.
2) Put a picture of your PAN card online.
3) Give your bank information so that payments can be made.
4) Verify Your Loan Eligibility in Step Four
5) After completing your KYC, you can verify your eligibility for a loan:
Fourth Step: Go to the Loan Section after opening the app.
Select “Verify Eligibility.”
TrueBalance will reveal the maximum loan amount that you qualify for based on your profile.
Your eligibility is determined by a number of variables, including your income, credit score, and payback history.
Step 5: Selecting the Loan Amount and Tenure.
Once eligibility has been verified, you can move on with loan application:
1) Decide how much you want to borrow for a loan.
2) Select the term (between 62 and 90 days) that best fits your ability to repay.
3) all the information related to interest rates , processing fee and total due amount shown in the application.
Step Six: Make a Loan Application
As soon as the loan terms meet your needs , Select “Apply Now.”
Verify the tenure and amount of the loan.
Examine and sign the terms and conditions of the loan agreement.
Step 7: Loan Disbursement
TrueBalance will assess the loan application after it is submitted. If accepted:
In a few minutes or hours, the loan money will be deposited to your bank account.
An SMS verifying the transaction will be sent to you.
Step 8: Compensation
Repayment choices are flexible with TrueBalance:
Repay the loan with a debit card, net banking, or UPI by using the TrueBalance app.
To prevent late payment penalties, you can set up an auto-debit from your bank account.
Things to Remember
Interest Rates: Although the loan approval procedure is rapid, make sure you are aware of all associated fees and interest rates. TrueBalance levies interest and processing costs, which can build up over time.
On-time Repayment: Your credit score will be impacted by late payments, which can lead to fines and make it more difficult for you to obtain loans in the future.
Credit Limit Increase: Users who make timely repayments are eligible for a credit limit increase from TrueBalance. Paying back your loan on time increases your chances of getting a larger amount later on.
In summary
With TrueBalance, you may easily get a loan quickly without having to go to the bank or fill out a lot of paperwork. It’s a good choice for people with immediate cash needs because of its simple eligibility requirements, quick disbursement process, and user-friendly interface. But, to avoid needless debt or fines, always borrow sensibly and make sure you can repay the loan on time.
You will have no trouble getting a loan with TrueBalance and improving your money management if you adhere to the preceding instructions.
Cheers to your borrowing!