Truecaller personal loan - Eligibility, Interest rates, documents required



Truecaller is a smartphone application that has features of caller-identification, call-blocking, flash-messaging, call-recording, Chat & Voice by uses the internet. The service requires users to provide a standard cellular mobile number for registering with the service. Truecaller is developed by True Software Scandinavia AB, a privately held company in Stockholm, Sweden founded by Alan Mamedi and Nami Zarringhalam in 2009.

It was initially launched by BlackBerry on 1 July 2009. After a good response from users, it launched for Symbian and Microsoft Windows Mobile. It was released for Android and Apple iPhone on 23 September 2009, for RIM Blackberry on 27 February 2012, for Windows Phone on 1 March 2012, and for Nokia Series 40 on 3 September 2012. As of September 2012, Truecaller had five million users performing 120 million searches of the telephone number database every month. As of 22 January 2013, Truecaller reached 10 million users. As of January 2017, Truecaller had reached 250 million users worldwide. As of 4 February 2020, it crossed 200 million monthly user-base globally, of which 150 million were from India.

Truecaller personal loan - Eligibility, Interest rates, documents required

Truecaller loan Features

  • Minimum loan amount from ₹ 8,000 up to the sanctioned amount
  • The amount offered is between Rs.10000 to Rs.5 lakh. The actual amount you’re eligible for will be displayed in the app.
  • There are no prepayment charges
  • Traditional lending institutions charge you a fee if you decide to pay off the loan earlier than decided, based on your remaining balance. 
  • With Truecaller Credit, we charge no penalty for this, which means you don’t have to worry about closing your loan obligation ahead of the pre-decided date subject to the following conditions.

Eligibility Criteria for Truecaller personal loan 

Truecaller Credit offer is applicable only to users who see the offer in their app.

  • Your Credit Bureau score. It doesn't provide loans if your Credit Bureau score is less than 650.
  • It has own proprietary credit scoring process.
  • Your monthly in-hand salary should not be less than Rs.13,500. If you’re self-employed, your monthly income should be a minimum of Rs.25,000.
  • The number of active drawdowns is restricted to 2
  • Withdrawal can be done only on successful completion of the registration process and signing the loan documents issued by our lending partner, “CapFloat Financial Services Pvt. Ltd.”


Documents required for Truecaller personal loan 

  • Aadhar card
  • PAN card
  • Bank account.

Truecaller Interest rates and Fees

  • There are no membership/joining/sign-up fees
  • In case of insufficient balance on the EMI date, a NACH bounce penalty of ₹ 500 + GST will be charged per EMI cycle.
  • Partial prepayment is not allowed.
  • Closure prepayment is allowed only 30 days after the withdrawal date.

Steps to apply for Truecaller 

  • You can visit the official Trucaller app. 
  • Register for a new account and fill in the details
  • Upload the necessary documents
  • Apply for the loan amount that you wish to take
  • Once approved you will get the loan amount credited into your bank within a few hours 
  • You can easily repay the loan amount by auto-debiting, bank transfer or by Paytm.

Truecaller customer care details


     You can contact through mail: loan.grievances@truecaller.com 


Where to apply for a Truecaller Loan?


     If you have a Truecaller Loan offer, you will see it on the landing page under the banking tab of Truecaller app for pay registered users & underpayments tab for non-pay users. Click on the Truecaller Loan card, and complete the sign-up process in the app. Once we receive the documents, we will enable Truecaller Loans for you and the money can be withdrawn anytime you want.


How do I pay my monthly EMI?

    The loan EMI will be automatically deducted from your bank account. This is done only after you’ve authorized us to deduct the proposed EMI amount that’s specified during the loan request process in the app.

What is NACH?

     National Automated Clearing House (NACH) is a mandate from you, telling your bank to make regular monthly payments on your behalf. Once set up, it is an easy and automatic method to pay the EMI.

Will you send EMI reminders?
   We will send you EMI reminders 2 days before the EMI due date & on the EMI due date as well.

Where can I see my payment due date?

   The EMI due date will be updated on the Truecaller Loans card on the landing page under the banking tab of the Truecaller app.

What happens if I don’t pay my EMI on time?

     We do not charge any late payment fees. However, paying the EMI is very important in order to maintain a healthy credit score.

Can I change my repayment date?

    Currently, the EMIs are collected only on the 5th of every month.

How can I make payments in case of failure of my NACH registration?

     In case of failure of NACH registration, we will re-attempt setting up your NACH mandate. If the EMI due date arrives before the NACH mandate is set up, you can make the payments through the Truecaller app.


Conclusion (Personal review)

   It one of the most reliable apps around for more than five years. They disburse loan very quickly and the customer care response is also quick, The interest rates are high and there is a limited loan that you can borrow. 

Also read:

Know more about Indiabulls personal loans


One of India's most popular personal loans Bajaj Finserv personal loan