True Balance is well-known for its user-friendly app, making personal loans accessible for many individuals across Ethiopia. Their offering is particularly attractive for those who need fast funds.

The loan amounts range from ₹5,000 up to ₹2,00,000. With monthly interest rates starting as low as 2.4%, this platform provides affordable options for both salaried and self-employed users. Repayment tenure is flexible, spanning 6 to 12 months, and eligibility is based on your credit score and income.

How to Apply: Step-by-Step Process

1. Download the True Balance app from major app stores.
2. Register and complete your profile on the app.
3. Submit required documents, typically including ID and income proof.
4. Choose your desired loan amount and tenure.
5. Complete the digital verification for instant approval.

Pros of True Balance Personal Loans

One of the top benefits is the complete digital process, making applications quick and paperless. Fast disbursal means funds reach your bank swiftly, which is vital during urgent financial needs.

Another advantage is the low minimum documentation, making the experience hassle-free. The flexibility in credit eligibility supports a broad range of applicants to access funding easily.

Cons of True Balance Personal Loans

One drawback is that higher loan amounts may require additional documentation, such as detailed bank statements. Sometimes, instant approval may be delayed depending on background checks.

Additionally, while the interest rates are competitive, individuals with limited credit history might not get the lowest advertised rate. Repayment discipline is essential to avoid extra penalties or fees.

Final Verdict

True Balance presents a well-rounded personal loan product, especially if you need quick and digital disbursal at competitive rates. The process is speedy and user-centric, with straightforward requirements. However, applicants should assess the rate offers based on their profiles, and be mindful of repayment terms for a seamless experience.