Do you need money quickly? Discover the top 10 instant personal loan apps in India that provide quick and easy access to funds. Read on to find the app that best suits your needs!
Are you short of money to buy an expensive mobile phone or need extra money for fancy dinners or holidays? Financial need can arise at any time, often when you least expect it.
The best option to face a financial emergency is to take a personal loan from a bank or non-banking financial institution. Nowadays, all you need is a smartphone and a few minutes of free time to apply for a personal loan.
Before choosing the best option, it is recommended to familiarize yourself with the features, costs, terms and conditions of all options. These are some of the best instant personal loan apps in India.
1) payment
It offers instant personal loans ranging from Rs 5,000 to Rs 5,000,000. It offers loans to salaried or self-employed people with a minimum monthly salary between Rs 18,000 to Rs 2,00,000.
2) Money Token
It offers loans up to Rs 30,000 to salaried employees and self-employed professionals such as doctors, lawyers, businessmen and business owners with a minimum monthly salary of Rs 500,000. The minimum age criteria for this is 23 years or more.
3) Credit B
KreditBee is a platform that facilitates loan transactions between borrowers and individual loan providers such as NBFCs and banks. It offers 100% online processing for personal loans ranging from Rs 1,000 to Rs 4,00,000.
4) IIFL Loan Application
Financial services group IIFL Finance’s mobile app is a one-stop shop for all the loan services it offers. New customers can apply instantly for loans starting from Rs 5,000 on the app, while existing customers can view all details of loans taken from IIFL Finance.
5) Answered
It is a quick loan app that provides loans to college students and young working professionals. It provides loans of less than Rs 500 for daily expenses or emergencies. For students, the program offers loans based on proof of college enrollment.
6) fond of money
ZestMoney is basically a “Buy Now, Pay Later (BNPL)” platform that also offers instant personal loans to its customers along with ZestMoney Line of Credit. Zestmoney facilitates personal loans through its lending partners by selecting customers based on various factors such as good payment behaviour.
7) cash
It provides instant personal loans to salaried people. It offers a variety of loans ranging from Rs 1,000 to Rs 400,000 for tenures up to one and a half years.
8) Smart Currency
It offers loans ranging from Rs 1,000 to Rs 70,000 for a tenure of 91 to 270 days at a minimum interest rate of 20% and a maximum interest rate of Rs 36.
9) FIBE (Starting Salary)
Fibe, formerly known as Early Salary, offers instant loans at affordable interest rates as low as Rs 9 per day. It provides loans ranging from Rs 5,000 to Rs 5,000,000 to salaried individuals in the age group of 21 to 55 years.
10) Neera
It claims to provide loans up to Rs 100,000 in just three minutes. The borrower must be an Indian citizen and aged between 21 to 55 years, working for at least six months and earning a salary of at least Rs 12,000 per month.
Benefits of instant personal loan application
Below are some of the key features of instant personal loan apps available in India.
Fast delivery and instant access to cash:
This is the easiest way to raise money, especially in times of emergency or urgent need of money.
Minimum Documents:
With the advent of personal loan applications, the process is now 100% electronic and with minimal documentation.
No minimum credit score required:
Instant loan applications do not require a good credit score or credit history. This expands the borrower base as they sanction loans based on criteria such as social quotient to check personal loan eligibility.
conclusion
Instant personal loan apps provide quick and easy financing in times of urgent cash needs and emergencies. These loans are available to a wide customer base and are also available for small loans for daily expenses or specific purchases of a consumer product.
However, like any personal loan, before choosing the best option, you should know the features, costs, terms and conditions of all the lenders.
IIFL Finance, one of India’s largest non-banking finance companies, is one of the most reputed lenders in the country. The company offers hassle-free personal loans at attractive interest rates. The loan application is processed in five minutes and requires minimal documentation.
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