Top-10 Best Instant Personal Loan Apps
- Introduction
- What is an Instant Personal Loan?
- Top 10 Instant Personal Loan Apps in India
- Features
- Documents for Personal Loan
- Conclusion
Introduction
Looking for an instant personal loan in India? Check out our list of the top 10 apps that offer quick and easy loans.
What is an Instant Personal Loan?
An instant personal loan is a type of loan that can be obtained quickly without lengthy application processes or documentation.
This makes them ideal for emergency expenses, medical bills, and unforeseen costs.
Instant personal loans can be used for anything from home improvements to vacations.
With an instant loan, you can access funds quickly, without worrying about collateral or a down payment.
List of Personal Loan Apps in India
- CASHe is one of the most popular personal loan apps in India and provides a sleek, user-friendly interface. This app lets borrowers apply for instant loans within minutes and provides competitive interest rates and flexible repayment plans.
- Money View Loans offers a variety of quick loan options, which range from Rs. 10,000 to Rs. 1,00,000. This app also provides competitive rates, and monthly and daily repayment options, and is one of the few that offers a 100% online application process.
- Home Credit India is a simple and easy-to-use loan app offering personal loans from small to large amounts. Home Credit India offers several repayment plans such as monthly instalments and shorter ones such as weekly and daily.
- Dhani offers personal loans with a range of features such as flexible repayment options, competitive interest rates, and an instant disbursal within minutes.
- EarlySalary provides small loans with quick disbursement times, which is convenient if you need cash fast. It also offers one of the lowest interest rates available and the option of repayment in instalments.
- Bajaj Finserv. Bajaj Finserv is an online lending platform that offers an array of loan products such as personal loans, home loans, and car loans. It also provides some of the most competitive interest rates and simple repayment plans.
- NIRA. It is an all-in-one personal loan app that offers access to a broad range of services – from travel, and shopping to insurance and much more. On the downside, however, its loan amounts are limited to a maximum of ₹ 2 lakhs.
- MoneyTap. It is an all-in-one app that offers access to multiple services including loan disbursal and credit card management. It can instantly process loan amounts of up to ₹ 5 lakhs with a repayment tenure of up to 36 months.
- Kreditbee. It is known for its flexibility, fast processing times and loan amounts with up to 2 years of tenure. It also allows for easy repayment with minimal paperwork and stringent security measures.
- Paysense bridges the gap between users without a credit score and those who can access traditional sources of loans and credit. Instead of using credit scores, PaySense uses your income, monthly repayment history, bank accounts, and other documents to create an in-depth view of your creditworthiness.
Features
Personal Loan Apps | Interest Rates | Loan Amount | Tenure |
CASHe | 2.50% | Rs. 1000 – Rs. 4,00,000 | 90-540 days |
Money view | 1.33% onwards | Up to Rs. 5,00,000 | 5 years |
HomeCredit | 24-34% | Rs. 10,000- Rs. 2,00,000 | 26 months |
Dhani | 1-3.17% | Rs. 1,000- Rs. 5,00,000 | |
Fibe | 24-30% | Rs. 8,000- Rs. 5,00,000 | |
Bajaj Finserv | 24-30% | Rs. 2,00,000 | |
Nira | 1.5- 2.5% | Rs. 3,000- Rs. 5,00,000 | |
MoneyTap | 1.08 to 2.3% | Rs. 3,000- Rs. 5,00,000 | |
Kreditbee | 0-29.88% | Up to Rs. 2,00,000 | |
PaySense | 1.08- 2.33% | Rs. 5,000 – Rs. 5,00,000 |
Documents for Personal Loan
(Copies of your passport, voter ID card, driver’s licence, or Aadhaar card)
a bank statement for the last three months (Passbook for the previous 6 months)
Two most recent pay stubs/currently dated pay certificates along with the most recent Form 16.
Income Requirement – Applicants must have a regular monthly income of at least Rs 10,000. This is subject to change depending on the loan amount and the duration of the loan.
Conclusion
If you need a loan, using an instant personal loan app is a great way to get fast cash. No need for any paperwork, long queues, and waiting. You can apply for a loan in just a few minutes and get it approved – all from the comfort of your own home.
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