Mobile apps have made our life convenient, making it easier for one to access anything across the world from the comfort of their homes. It allows you the power to make a purchase, consult a doctor, gift someone, apply for loans at the tap of a button without having to step out of your home.
For emergency funds, instant loan apps are always the most convenient and the fastest way of obtaining funds. But when you speak of instant loans, the lengthy procedure and the hefty interests are the scares many people get, making them hesitant to avail themselves of the loans. But if you choose the right trustworthy lender, you get personal loans at affordable rates, and the process is a breeze. Sounds interesting, right? So Let’s dive in to have a greater insight on the top instant loan apps that are best for applying for personal loans.
Top 10 Personal Loan Apps in India that are Best for Applying for Loan
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The play store and the app store are flooded with a myriad of apps claiming the best offers and services. But which of them are the vest? Let’s see the top 10.
1. Fullerton India Personal Loan App
Fullerton India Personal Loan App is a trustworthy NBFC that offers you the best loan options at affordable interest rates and flexible repayment options. The app offers you a loan amount of up to 25 lakhs based on your eligibility in less than four steps. In that case, the Fullerton instant loan apps are the best suited for your requirement. The lender offers credibility and affordable interest rates from 11.99% to a flexible repayment period from 1 year to 5 years. Borrowers can easily download the Fullerton app via the play store.
2. MoneyTap Loan App
This instant loan app is easy to use and hassle-free. It is entirely paperless and a hassle-free loan app. The loan sanctions through the app take less than 5 minutes. MoneyTap allows you to transfer money from UPI transactions to any person or eCommerce apps quickly. The interest rate offered starts at 13% and has a repayment tenure from 3 months to 3 years.
3. KreditBee Loan App
This instant loan app is used by young professionals who are looking for cash without collateral. The loan amount provided ranges from ₹1000 to ₹ two lakhs to its customers at a monthly interest rate that starts at 2.49%. It provides flex personal loans, online purchase loans, and personal loans for salaried people. The repayment duration of the app is two months to 15 months.
4. CASHe Loan App
CASHe is an instant personal loan app in India that offers instant loans. Just 10 mins of documentation are perfect. The app allows a loan amount of a minimum of ₹5000 and a maximum of ₹ five lakhs to its borrowers. The monthly interest rates offered by the app start from 1.7%. It also has tie-ups with eCommerce platforms making it a hassle-free trader of credit amounts.
5. Credit Loan App
This online loan app takes a minute for loan approval, making it the fastest instant loan apps. The app guarantees money credit within 48 hours of sanction. Additionally, it provides loans up to 1 lakh based on the borrower profile.
6. EarlySalary Loan App
The app provides loans to borrowers who have a salary above Rs. 18000. It provides a loan amount of up to Rs. 2 lakh. The app also lends individuals with low CIBIL balance with proper documentation.
7. LazyPay Loan App
Lazy pay offers easy credit access with minimum documentation from the borrower. It lends you a loan amount between Rs. 10,000 to Rs. 1,00,000. The app allows you to use credits to shop from Zomato, Swiggy, Amazon, Flipkart,
8. PaySense Loan App
The PaySense loan app lends to self-employed individuals. It also allows an easy auto-debit option for your EMI to avoid miss repayment schedules and maintain your credit scores.
9. MoneyView Loan App
This loan app offers up to Rs. 5 lakhs as a loan for a loan tenure of up to 5 years. The lowest loan amount you can get from MoneyView is Rs. 10,000. The interest rates range between 1.33% to 2.0% depending on the loan amount you borrow.
10. SmartCoin Loan App
This homegrown instant loan app provides small loans to customers. The app lends credit from Rs. 1,000 to Rs. 25,000 through its easy loan platform. The app does not have a minimum salary limit either.
Most loan apps in India offer online personal loans but think twice and research extensively before the plunge. Go for the apps that offer encrypted and secure payment options and have a good reputation in the market.