CredBharat, a platform by TwoMinutes Fintech Pvt Ltd., promises various loans, including home, personal, and business loans.
With its claims of low-interest rates and high loan amounts, it attracts many visitors. However, its reliability is questionable, as my experience with Cred, another fintech service, was disappointing.
What is CredBharat?
CredBharat is a fintech service offering loans similar to Aditya Birla Capital home loans. It provides three types of loans: home, personal, and business.
CredBharat’s website is well-designed, with multiple options available: Home, Credit Cards, Loans, Online Account, and Trading.
Registered on August 18, 2023, the site has 107K visitors as of June 2024. The application process requires documents like PAN card, bank statement, and Aadhar card, and is available to users aged 18 to 25 with a credit score of 750 and above. Loans up to 2 lakhs can be granted at once.
The platform claims to offer loans up to 50 lakhs with an interest rate between 4.75% and 8.80% P.A., a 1% processing fee, and a tenure of up to 30 years.
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Website Profile
| Website | Credbharat.com |
| Name | CredBharat |
| Registration Date | August 18, 2023 |
| Claim | Loan, Trading, Financial Services |
| Adress | – |
| Contact | – |
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CredBharat Review
While the platform’s design and user interface are appealing, potential borrowers should be aware of the requirements, including a minimum credit score of 750. The claim of disbursing loans up to 50 lakhs is impressive, but users should thoroughly review the terms and conditions, as well as verify the authenticity of the interest rates and fees.
Here are some red flags that make the fake claims obvious.
- Similar issues to Cred’s experience may arise, such as money being credited to the wrong account.
- Customer service might be unhelpful, as seen in my dealings with CredBharat.
- The requirement for sensitive personal documents raises privacy concerns.
- Users must be cautious about hidden terms and conditions.
While CredBharat offers attractive loan options, my negative experience with Cred makes me skeptical. Users should proceed with caution, thoroughly review terms and conditions, and ensure robust communication with customer support.
Fintech companies can offer convenient services, but reliability and customer support are crucial for a satisfactory experience.
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