True Balance Review

Micro-loan app with amounts up to Rs 2 lakh targeting first-time borrowers.

FINTECHNo CIBIL NeededZero PrepaymentZero Foreclosure
Reviewed by BankCreds App Review Team· App Review Analysts Updated 14 June 2026

True Balance is a micro-loan app built for people the banks turn away — first-time borrowers with no credit history who need a small amount fast. It delivers on speed: a few thousand rupees can reach your account within minutes.

But that access comes at a steep price. Behind the "2.4% per month" headline sits an effective APR that can climb toward roughly 78% once the upfront fee and short tenure are counted, and some borrowers report aggressive recovery calls. This review is deliberately blunt about the true cost.

Quick Facts

4.5★ · 20L

Play Store

₹2L

Max Loan

28.80% – 36.00% p.a.

Interest Rate

Within minutes

Disbursal

6 – 12 months

Tenure

0% – 8.4% of loan amount

Processing Fee

Rs 20,000 per month

Min Income

Play Store rating sourced from Google Play, as of 18 Jun 2026. Other figures from the lender's official disclosures.

Our Ratings

Disbursal speed 4.5/5

Genuinely fast — a small loan can reach your account within minutes of approval.

Interest & cost 1.5/5

The real problem. A "2.4% per month" headline annualises, with fees, to an effective APR that can approach ~78%.

App experience 3.0/5

A simple eKYC flow, but borrowers report being disbursed less than approved and a confusing cost disclosure.

Customer support 2.0/5

Some users report aggressive recovery calls, and support can be slow and automated.

Safety & transparency 3.0/5

Loans come from an RBI-registered NBFC (True Credits) — reassuring — but the high effective cost is not clearly surfaced upfront.

Loan Details & Charges

Loan Amount Rs 1,000 – Rs 2,00,000
Interest Rate 28.80% – 36.00% p.a.
Tenure 6 – 12 months
Processing Fee 0% – 8.4% of loan amount
Late Payment Penalty on overdue amount
Prepayment No prepayment charges
Foreclosure No foreclosure charges

Eligibility Criteria

Age 18-50 years
Min Income Rs 20,000 per month
CIBIL Score Not required
Employment salaried
Documents PAN Card, Aadhaar Card

What It Actually Costs

Loan amount ₹29,123 sanctioned
Tenure 6 months
Monthly EMI ₹5,261
Total interest ₹2,443
Processing fee 8.4% + 18% GST (~₹2,640), deducted upfront
Total repayment ₹31,566 — but only ~₹25,000 reaches your account

Illustrative, based on a documented borrower case. Because fees are deducted upfront while interest accrues on the full sanctioned amount over a short tenure, the effective APR can reach roughly 78%. Confirm the exact APR and net disbursal on your in-app Key Fact Statement (KFS) before accepting — figures vary by offer.

Try the True Balance EMI calculator

Pros

  • Approves thin-file and no-CIBIL first-time borrowers that banks reject
  • Genuinely fast — a small amount can reach your account in minutes
  • Loans are issued by an RBI-registered NBFC (True Credits Pvt Ltd)
  • No prepayment or foreclosure charges, so repaying early saves interest
  • The "Level Up" model raises your limit and helps build a credit history with on-time repayment

Cons

  • Very high effective cost — APR can reach roughly 78% once fees and the short tenure are counted
  • The processing fee (up to 8.4%) plus 18% GST is deducted upfront, so you receive less than sanctioned
  • Short 6–12 month tenures mean high EMIs relative to the amount borrowed
  • Some users report aggressive recovery calls, including to their contacts
  • A small ceiling (₹2 lakh) and limited customer support

Our Verdict

True Balance does one thing well: it lends small amounts, fast, to people with no credit score who can't get a bank loan. As a one-off, quickly-repaid stepping stone to build credit it can serve a purpose — and unlike many app lenders, its loans come from an RBI-registered NBFC (True Credits) with no prepayment penalty. But it is an expensive way to borrow. The "2.4% per month" rate, the up-to-8.4% upfront fee plus GST, and the short 6–12 month tenure combine into an effective APR that can reach roughly 78%. Borrowers routinely receive less than they were approved for, and some report aggressive recovery calls. If you can qualify anywhere cheaper, do. If you do borrow here, take the smallest amount you can repay quickly — and read your Key Fact Statement first.

Who True Balance suits

First-time or no-CIBIL borrowers locked out of banks and low-rate NBFCs
People who need a small amount (₹1,000–₹30,000) urgently and can repay it quickly
Borrowers deliberately building a credit history with on-time repayment, as a short-term stepping stone

Look elsewhere if

You can qualify for a bank or low-rate NBFC loan (12–18% p.a.) — the cost there is a fraction of this
You need a large amount or a long, low-cost tenure
You're financially stretched or at risk of default, where the short tenure and recovery pressure will hurt
You're not comfortable granting the app broad data permissions

Things to Watch

  • The headline "2.4% per month" hides the real cost — once the up-to-8.4% fee, 18% GST and short tenure are annualised, the effective APR can reach roughly 78%. Read the Key Fact Statement before accepting
  • Borrowers are routinely disbursed less than approved because fees and GST are deducted upfront, yet interest accrues on the full sanctioned amount
  • Some borrowers report aggressive recovery calls, including to their contacts. RBI rules forbid calls before 8am or after 7pm, contacting third parties to shame you, or abusive language — if it happens, document any breach and escalate to the RBI Ombudsman

How to Apply for True Balance

  1. 1

    Register and pick a product

    Download True Balance, sign up with your phone number, and choose a Cash or Level Up loan.

  2. 2

    Complete eKYC

    Verify with your PAN and one officially valid document (Aadhaar, Driving Licence, Voter ID or Passport), plus a camera check.

  3. 3

    Check the offer carefully

    Before accepting, open the Key Fact Statement and confirm the exact APR, the net amount that will reach your account after fees, and the EMI.

  4. 4

    Set up repayment

    Add your bank details and an auto-debit mandate; approved funds are disbursed within minutes.

Documents Required

PAN card
One officially valid ID (Aadhaar, Driving Licence, Voter ID or Passport)
Bank account details for disbursal and auto-debit
A recent bank statement (for some cash loans)

What Real Users Say

True Balance rates around 4.4–4.6★ on the Play Store with 50 million-plus downloads — but app-store ratings reward the fast disbursal, not the cost.

Reviews split sharply between people who valued the quick access and those stung by the cost and recovery calls.

What users love

Borrowers praise the speed, the low barrier to entry, and approval with no credit score.

Common complaints

The common complaints are receiving less than approved, a high and confusing effective rate, some reports of aggressive recovery calls, and unhelpful support.

How True Balance Compares

vs KreditBee — KreditBee offers larger loans, longer tenure and lower advertised rates — better if you have some credit profile; True Balance wins only on lowest-barrier access.

vs mPokket — mPokket targets students and young salaried with tiny tickets and an even higher effective APR — comparably costly, but True Balance offers bigger amounts.

vs OLYV — OLYV's APR band brackets True Balance's and it allows longer tenure with similar no-CIBIL access — close substitutes, so compare each one's Key Fact Statement.

How we tested

We reviewed True Balance's published rates and product terms, confirmed its lending entity (True Credits Pvt Ltd) against RBI NBFC records, and read recent borrower feedback across the Play Store and complaint forums. The effective-APR figure is an estimate that depends on the fee and tenure of your specific offer — always confirm the exact APR and net disbursal on your in-app Key Fact Statement before borrowing.

Frequently Asked Questions

What is the real (effective) cost of a True Balance loan?
The headline is 2.4% per month (about 28.8% p.a.), but once the up-to-8.4% processing fee, 18% GST and short 6–12 month tenure are annualised, the effective APR can reach roughly 78% or more. Always read the in-app Key Fact Statement, which shows the exact APR and total amount repayable before you accept.
Is True Balance RBI-approved and safe?
It is legitimate: loans are issued by True Credits Pvt Ltd, an RBI-registered NBFC, and the app operator Balancehero is an RBI-authorised prepaid-payment-instrument issuer. But "legitimate" is not "cheap" — it is a high-cost product, so borrow only what you can repay quickly.
Why did I receive less money than I was approved for?
The processing fee plus 18% GST are deducted upfront from your disbursal, so a sanction of, say, ₹29,000 can land as about ₹25,000. You still pay interest on the full sanctioned amount, so confirm the net figure on your Key Fact Statement before accepting.
What are my rights if recovery agents harass me?
Under RBI's rules, agents may not threaten or abuse you, contact your family or contacts to shame you, or call at odd hours. Record incidents and complain to the lender's grievance officer, then escalate to the RBI's CMS and Sachet portals.
Can I get a True Balance loan with no CIBIL or a low credit score?
Yes — it is one of its main draws for first-time and thin-file borrowers, and the "Level Up" model raises your limit and builds your score with on-time repayment. Because of the high effective cost, use it as a short-term, credit-building stepping stone, not a long-term borrowing source.

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Disclaimer: BankCreds.com is a loan comparison platform and does not directly lend, disburse, or provide any financial products. We aggregate and display loan offers from RBI-registered banks and NBFCs to help you make an informed decision. All loan applications are processed directly by the respective lender. Interest rates, charges, eligibility, and terms shown are indicative and subject to the lender's final assessment. Please read the lender's terms and conditions carefully before applying.