5 Apps for instant personal loan
Posted by Digital India on March 22nd, 2020
Multiples have been offering instant loans in India for recent years. With the infusion of technology in finance, these instant loan apps provide borrowers with instant loans with minimal documents. Some apps offer an instant loan without documents once borrowers repay the credit on time.
Some apps act as a technology intermediary to facilitate credit to borrowers from banks and NBFCs. Now borrowers can get instant loans with some clicks using these next-gen apps. The process of applying for loans using apps is pretty simple and short.
Dozens of personal loan apps offer personal loan, but a few of them offer better services than others in terms of approval, the flexibility of usage, loan amount, repayment tenure, prepayment charges. The following are 5 apps that offer instant personal loans online in India.
Top instant loan apps
Flexsalary instant loan
FlexSalary personal loan scheme is sponsored by Vivifi India Finance Private Limited, a non-banking finance company (NBFC) registered with the RBI (Reserve Bank of India). Young employees with minimum work experience and underserved customers can avail instant loan under the FlexSalary scheme. Instant loans can be availed for any unplanned financial emergency. Once you repay the balance, avail the new instant loan without documents.
MoneyTap personal loan
MoneyTap has partnered with multiple lenders to offer instant personal loans to its customers anytime, anywhere. You can get customized personal loans to fulfil your short-term credit needs. A personal loan from Rs. 3,000 to Rs. 5 lakh is available, depending on your credit limit. The instant loan can be availed for a flexible tenure ranging from 2 months to 36 months.
Key features of MoneyTap personal loan
KreditBee personal loan
KreditBee offers instant loans in association with several non-banking financial companies. KreditBee instant loans are available in different forms:
Flexi personal loan: KrediBee Flexi personal loan is a very short-term small loan ranging from Rs. 1,000 to Rs. 10,000. After repaying the loan amount, borrowers can get a higher instant loan without documents. This type of credit is the best financial option for the payment of petty bills, insurance premium, or last-minute gifting for your friend’s wedding anniversary.
Personal loan for salaried class: Salaried professionals experiencing unplanned financial problems before the end of the month can fulfil their needs with KreditBee personal loan. The loan amount is credited into the borrower’s bank account immediately.
Features of KreditBee personal loan
LoanTap personal loan
Both salaried professionals and self-employed individuals alike can get a personal loan using LoanTap app. Using its proprietary algorithm, LoanTap offers several customized personal loans, such as Advance Salary Loan, Rental Deposit Loan, EMI Free Loan, Credit Card Takeover Loan, and a lot more. Borrowers can apply for a personal loan up to Rs. 5 lakh using the LoanTap app. The interest rate applicable on the loan starts from 15% per annum and goes up to 24% per annum, and processing fees up to 2% of the loan disbursed + GST.
Benefits of LoanTap personal loan
PaySense has tie-ups with leading NBFCs, IIFL and Fullerton to offer a personal loan. Personal loans up to Rs. 2 lakh can be availed through PaySene instant loan app. PaySense personal loans can be used for medical emergencies, wedding expenses and big-ticket purchase. PaySense personal loan interest rates are very attractive ranging from 1.4% to 2.33% per month.
Key features of PaySense instant loan
Documents required for an instant personal loan
Documentation may vary from lender to lender. Here are the common documents you will need to submit to get instant loans
Instant loan apps have made it unimaginably easy to get instant loans for unexpected financial requirements. Apply for instant loans using these apps for your personal financial requirements.Also See: Personal Loan, Instant Loans, Instant Loan, Personal Loans, Up, Rs, Personal
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