With numerous personal loan apps available in the online loan market, it is difficult to find a personal loan app that guarantees instant approval and helps borrowers secure personal loans almost instantly.
The benefits of using loan apps available online are – you can apply for a personal and track your application status, the app’s interface is easy to use. Since it is completely digital, you can apply for a loan from the comfort of your home and receive the sanctioned amount to your bank account. The best part is that instant loan apps significantly reduce the time required and paperwork involved in a personal loan application approval.
Here is a list of the best personal loan apps available in India, which require minimum approval time and are the most affordable.
List Of Best Personal Loan Apps Available
A. Fullerton India InstLoan App
Fullerton India InstLoan app has the simplest interface, and it is available for both salaried and self-employed professionals. It is available 24×7 and provides a quick loan approval and disbursal process. The loan amount after approval gets disbursed to your registered bank account within 30 minutes. Borrowers can easily install the Fullerton India InstLoan App on the handset and get approval on the personal loan.
Features of Fullerton India InstaLoan App
- You can borrow up to Rs. 25 lakhs depending on your income, age, and current financial obligations.
- The flexible interest rates start from as low as 11.99%.
- It is 100% digitized, which means no paperwork is involved.
- There are additional benefits for existing customers.
B. MoneyTap Loan App
It is one of the most popular paperless quick loan apps available in India. Borrowers can borrow from Rs. 3000 to 5 Lakhs and the sanctioned loan can be transferred to your bank account after approval. It is the best option if you need instant cash to cater to your needs.
Features of MoneyTap App
- No need to visit the lender’s physical location as it is 100% paperless.
- Repayment tenure starts from 2 months and can go up to 36 months.
- It offers a secured API and interface to protect customers’ sensitive information.
- You can enjoy a zero percent interest rate EMI for shopping on Amazon for three months.
C. Credy Loan App
The best part is that Credy offers to approve your personal loan application within a minute. It is an instant personal loan app that disburses the loan amount within 48 hours of approval. Follow a few steps on the app and get your loan application approved within a minute. Do not forget to check your eligibility before applying on the app.
Features of Credy App
- The maximum loan amount to borrow is Rs. 1 lakh.
- You can get real-time decisions on loan terms.
- Completely paperless with few documentation requirements.
- There are no hidden charges.
- You can easily earn benefits as referral bonuses.
D. KreditBee Loan App
It is designed for young professionals with stable income and requires an instant fund without collateral. The maximum loan amount eligible under KreditBee is Rs. 2 lakhs. It offers three types of loans; Flexi Personal Loan, Personal Loan for Salaried people, and Online Purchase Loan.
Features of KreditBee App
- You can benefit from a paperless online loan application process.
- The loan tenure ranges between 62 days and 15 months.
- The interest rates start from zero percent and can go up to 2.49% per month.
- A Flexi personal loan can be availed of within 10 minutes, with loan tenure up to 6 months and the loan amount up to 50,000/-
E. MoneyView Loan App
It is a money management personal loan app. Its main objective is to track customer’s expenses and offer loans based on the customers’ needs. You can avail of up to Rs. 5 lakhs as a loan for a repayment tenure of up to 60 months.
Features of Money View App
- The interest rates start from 1.33% and can go up to 2.5%.
- Get the sanctioned amount disbursed to your registered bank account within 2 hours of approval.
- It enables you to set and track your expenses to avoid overspending.
- The app sends bill payment reminders to borrowers to help them make on-time payments.
F. EarlySalary Loan App
EarlySalary targets borrowers who have no credit history. It helps borrowers to access instant funds based on their monthly salary of Rs. 18000 and above. Instead of a CIBIL score, the lender uses a proprietary method to establish your creditworthiness.
Features of EarlySalary App
- You can avail of up to Rs. 2 lakhs as a loan.
- The loan amount can be disbursed to your bank account within 10 minutes of approval.
- You can avail yourself of a zero percent interest rate for three months for shopping on Amazon, Flipkart, and BigBasket.
- The best part is that you can get Rs. 2 lakhs as a loan at Rs. 9 per day.
These are the list of some Best Personal Loan Apps Available in the market nowadays. Users can select the best one according to the needs.