True Balance Loan
In today’s fast-paced world, financial emergencies can arise at any time. Whether it’s a medical expense, urgent bill payment, or an unexpected repair, having access to quick loans can be a lifesaver. True Balance Loan is one such digital lending solution that offers instant personal loans with minimal documentation.
If you’re looking for a quick, hassle-free loan, this comprehensive guide will cover everything about True Balance Loan, including eligibility, interest rates, application process, repayment, pros & cons, and alternatives.
What is True Balance Loan?
True Balance is a digital lending app operated by True Balance Financial Services Pvt. Ltd., an RBI-registered NBFC. It provides small-ticket personal loans (₹1,000 to ₹50,000) with fast approval and disbursal directly into your bank account.
Unlike traditional banks, True Balance uses AI-based credit scoring, making loans accessible even to those with low or no credit scores.
Key Features of True Balance Loan
●Loan Amount: ₹1,000 – ₹50,000
●Interest Rate: 18% – 36% per annum
●Tenure: 7 days to 12 months
●Processing Fee: Up to 3% + GST
●Instant Approval: Disbursal in 24 hours
●Minimal Documentation: PAN, Aadhaar, Bank Account
True Balance Loan Eligibility Criteria
To apply for a True Balance instant loan, you must meet the following criteria:
1. Age Requirement
-Minimum Age: 18 years
-Maximum Age: 60 years
2. Income Requirement
– Salaried/Self-employed: Minimum ₹10,000/month income
3. Documents Needed
– PAN Card (Mandatory)
– Aadhaar Card (For KYC verification)
– Bank Account (For loan disbursal)
– Mobile Number (Linked to Aadhaar)
4. Credit Score Consideration
– True Balance checks credit history but may approve loans even for low CIBIL scores.
True Balance Loan Interest Rates & Charges
Before applying, it’s crucial to understand the True Balance loan interest rate and fees:
Example: If you take a ₹10,000 loan for 3 months at 24% interest:
– Interest: ~₹600
– Processing Fee: ₹300 + GST
– Total Repayable: ~₹10,900
How to Apply for a True Balance Loan? (Step-by-Step Guide)
Getting a True Balance personal loan is simple and completely digital. Follow these steps:
Step 1: Download the True Balance App
– Available on Google Play Store .LINK 🔗 CLICK HERE
– Install and register with your mobile number.
Step 2: Complete KYC Verification
– Enter PAN & Aadhaar details.
– Allow biometric verification (if required).
Step 3: Select Loan Amount & Tenure
– Choose between ₹1,000 – ₹50,000.
– Select repayment period (7 days to 12 months).
Step 4: Submit Documents & Get Approval
– Upload PAN & Aadhaar.
– Provide bank details for disbursal.
Step 5: Receive Loan in Bank Account
– Once approved, the loan amount is transferred within 24 hours.
True Balance Loan Repayment Options
Repayment is flexible, with multiple options:
1. Auto-Debit from Bank Account
– EMI is automatically deducted on the due date.
2. UPI/NET Banking/Wallet Payment
– Pay manually via PhonePe, Google Pay, Paytm, etc.
3. Late Payment Consequences
– Late fees (₹50 – ₹500).
– Negative impact on credit score.
4. Prepayment & Foreclosure
-Prepayment allowed, but charges may apply.
Pros & Cons of True Balance Loan
●Advantages
✔ Instant Approval & Disbursal (Within 24 hours)
✔ No Collateral Required (Unsecured loan)
✔ Available for Low Credit Score Borrowers
✔ Minimal Documentation (Digital process)
● Disadvantages
✖ High-Interest Rates (Up to 36% p.a.)
✖ Short Tenure for Small Loans (7-90 days)
✖ Late Payment Penalties
✖ Not for Large Loan Amounts (Max ₹50,000)
Is True Balance Loan Safe & Legit?
– Yes, True Balance is an RBI-approved NBFC.
– The app uses secure encryption** for data protection.
– Read loan terms carefully to avoid hidden charges.
True Balance Loan Customer Care & Support
– Email: support@truebalance.io
– Phone: Available in the app
– App Support: Live chat option
Final Verdict: Should You Take a True Balance Loan?
True Balance is a good option for urgent small loans (₹1,000 – ₹50,000) when traditional banks reject you. However, due to high interest rates, it’s best for short-term emergencies only.
Best For:
– Quick cash for emergencies
– Borrowers with low credit scores
– Those needing instant approval
Avoid If:
– You need a large loan amount
– You want low-interest rates
Frequently Asked Questions (FAQs)
1. Is True Balance loan approved instantly?
Yes, loans are approved within minutes and disbursed in 24 hours.
2. Does True Balance check CIBIL score?
Yes, but it may still approve loans for low credit scores.
3. What happens if I miss an EMI payment?
Late fees apply, and it may hurt your credit score.
4. Can I prepay the True Balance loan?
Yes, but prepayment charges may apply.
5. Is True Balance registered with RBI?
Yes, it is an RBI-approved NBFC.
Conclusion :
True Balance Loan is a convenient digital lending solution for urgent cash needs. While it offers quick approval and easy eligibility, the high-interest rates make it suitable only for short-term borrowing.
Before applying, compare with other lenders*and ensure you can repay on time to avoid penalties.
Need a loan? Download the True Balance app today! LINK : CLICK HERE
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