Obtaining a personal loan could have never been easy with the availability of numerous instant loan apps. It offers customers approved loans instantly within just a few minutes. The presence of multiple apps in the existing market makes it extremely complicated to pick the ones that match your needs and expectations. Instant loan apps offer immediate approval of a personal loan to the customer.
Features of an Instant Personal Loan App
An instant loan app allows you to apply for a personal loan or monitor the status of your loan. The majority of the instant loan apps are user-friendly that assist the customers to apply for a loan in a hassle-free manner.
An instant personal loan app narrows down the time required as well as paper works during the loan approval process.
In this blog, I have compiled a list of the best instant personal loan apps in India that helps you secure a loan without any complications. The below-mentioned list would assist you in choosing a personal loan app that demands minimum approval time and budget-friendly.
However, you need to keep in mind the fact that approval time is quite different from that of disbursal time. The application process might be completed within just a few minutes but a considerable amount of time is required for the money to be credited to your bank account. Since the entire procedure is carried out online, there is no need to physically visit and furnish essential documents that are required for a personal loan.
There are also options to track the due date for EMI which helps avoid default payment of the EMI. You will have complete control over the personal loan using an instant loan app. All you need is a smartphone that helps in applying for and managing a personal loan. It offers complete control to the customer to deal with the loan in an effective manner.
The List of Best Instant Personal Loan Apps in India are as follows:
Money View provides instant personal loans for up to Rs. 5 Lacs through its digital loan platform. Users can apply using the Money View Loans app, and get an instant decision on the loan amount and terms. Money View has provided loans to users in more than 500 cities and towns across India through its digital loans platform. The app is available in 8 languages
This type of loan app would also help to manage your bank SMS and adjust the budget accordingly. The interest rate starts from 1.33% per month. You do have the option to pick a flexible tenure ranging from 6 months to 60 months.
● Leverage the default expense tracker system to monitor expenses via text messages
● Options available to set up and track your budget thereby managing monthly expenses effectively.
● This app sends bill payment reminders to avoid default payment
● Loan amount starts from Rs.10,000 to Rs. 5 lakhs
● The processing fee is charged around 2.5% to 8%
Money Tap is currently one of the leading instant loan apps available in the Indian market. You do have the option to obtain a loan amount between Rs.3000 and Rs. 5 lakhs. It is a paperless procedure and you could transfer the entire amount to your bank account instantly.
● A paperless process with instant approval of loan through online rather than visiting the bank
● Interest to be paid only for the borrowed amount instead of the entire amount.
● EMI tenure is flexible ranging from two to thirty-six months
● Absence of collateral security
● Obtain emergency funds instantly online.
● Approval of personal loan within four minutes
● Option to pick any loan amount out of pre-approved loan amount based on salary and credit score.
● Money Tap has a secured API along with a user interface to safeguard valuable documents
● Additional benefits include receiving 0% interest rate EMI for shopping on Amazon within three months
● Receive a variable rate of interest for the borrowed loan amount.
It is an app that is exclusively designed for professionals who earn a stable income per month and require emergency cash in the absence of collateral security. You do have the option to apply for a loan amount of two lakhs from Kreditbee and transfer the entire amount to your bank account. They offer three major types of loans namely Flexi personal loan, personal loan for salaried professionals, and online purchase loan.
● The paperless online approval procedure
● Only minimum documents required for approval of the loan
● Immediate transfer of funds to your bank account
● Obtain additional benefits along with a higher loan amount for proper repayment of EMI
● Pick a flexible tenure starting from sixty-two days to fifteen months
● Receive a Flexi personal loan starting from Rs.1000 to Rs.50, 000. It gets approved within ten minutes using your PAN card and relevant KYC details.
● Kreditbee is highly secured with 128 bit SSL encryption to protect valuable information.
● This app could be utilized to shop on partner websites such as Flipkart, Amazon, Myntra, and Makemytrip.
Pay Sense is a personal loan instant app that is best suited for salaried professionals and self-employed individuals. You could obtain a personal loan amount starting from Rs.5000 to Rs. 5 lakhs in the absence of collateral security and a flexible rate of interest. The application procedure for a personal loan is fast and instant.
● User-friendly app
● Provides a 2-minute loan application procedure
● The entire process is paperless and online
● An auto-debit of EMI from the bank account
● Flexible tenure starting from three months to sixty months
● The rate of interest is 13% per annum
● Self-employed individuals earning a monthly income of Rs.15, 000 may consider applying for a personal loan using Pay Sense
● The loan amount is credited within few days to your bank account
Dhani is yet another personal loan app that covers all your health care and financial requirements. There are several options including immediate doctor consultation, instant loans, Demat, Trading/stockbroking accounts, and management of bill accounts. You could easily obtain loans starting from Rs. 2500 to Rs. 1 lakh with a 0% rate of interest. Flexible tenure of three months as well as budget-friendly subscription plans starting from Rs. 125 to Rs.1500.
In this article, some of the best instant personal loan apps in the existing Indian market. They provide a flexible tenure with an attractive rate of interest. You may choose a reliable loan amount to cover all your financial and health care needs using these apps.