In today’s digital era, getting a personal loan is easier than ever, thanks to mobile apps like True Balance. Whether you need money for urgent medical bills, education, shopping, or any unexpected expense, True Balance offers instant loan services without heavy paperwork.
In this article, we’ll guide you step-by-step on how to take a loan from the True Balance app, eligibility criteria, documents required, repayment process, and FAQs.
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โ What is True Balance App?
True Balance is a trusted financial services app available on the Google Play Store in India. It offers services like mobile recharge, utility bill payments, insurance, and instant personal loans ranging from โน1,000 to โน50,000.
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๐ Eligibility Criteria to Apply for a Loan
Before applying for a loan, make sure you meet the following conditions:
๐ฎ๐ณ Must be an Indian citizen
๐ Age: Between 21 to 55 years
๐ฑ Must have a smartphone with the True Balance app installed
๐ผ Should have a regular source of income (salaried or self-employed)
๐งพ PAN Card and Aadhaar Card required
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๐ฒ How to Apply for a Loan on True Balance App?
Follow these simple steps to apply:
Step 1: Download the App
Go to the Google Play Store
Search for True Balance
Install and open the app
Step 2: Register Your Account
Sign up using your mobile number
Verify using OTP
Allow required permissions (for KYC and credit check)
Step 3: Complete KYC
Upload Aadhaar card and PAN card
Enter basic personal details
Add bank account details for loan disbursement
Step 4: Check Loan Eligibility
Go to the Loan Section in the app
Check how much loan you are eligible for (based on your credit score)
Step 5: Choose Loan Amount and Tenure
Select the amount you want to borrow (e.g. โน3,000 or โน10,000)
Choose repayment tenure (e.g. 3 months, 6 months)
Step 6: Apply and Get Disbursal
Review interest rates and charges
Submit your application
If approved, amount will be credited to your bank within 5-10 minutes โฑ๏ธ
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๐ธ Loan Details
Feature Description
Loan Amount โน1,000 to โน50,000
Interest Rate 2.4% to 36% per annum (varies)
Tenure 62 days to 6 months
Processing Fee โน50 to โน350 (plus GST)
Disbursal Time Within minutes after approval
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๐ณ Repayment Process
EMI (Equated Monthly Installment) auto-debited from your bank
You can repay via UPI, Net Banking, Debit Card
Make sure to repay on time to avoid penalty charges and to maintain your credit score
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โ ๏ธ Important Tips
Always read loan terms carefully before applying
Do not borrow more than what you can repay
Timely repayment can help increase your loan limit for the next time
Contact support through the app if you face any issue
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โ Frequently Asked Questions
1. Is True Balance Loan safe?
Yes, it is RBI-registered via its NBFC partners and follows legal loan practices.
2. Can I take a second loan before repaying the first?
You can apply again only after repaying your current loan fully.
3. Will it affect my credit score?
Yes. Late payments will affect your credit score negatively. Timely repayments improve your score.
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๐ Final Words
Taking a loan from True Balance is quick and convenient, especially for short-term emergencies. However, it is important to borrow responsibly and ensure timely repayment to avoid extra charges or credit score damage.
With just a few taps on your mobile, you can manage your financial needs with ease! ๐ผ๐ฑ