Personal loans can be a great help. However, the old way to apply for a bank loan is tedious and time-consuming, and this is where the online personal loan app comes to your rescue.
The best instant loan Apps Or Applications in India
Although there are numerous personal loan applications today, not every app offers much convenience and flexibility. A list of the best loan apps or applications in India that can offer favorable personal loans.
Features and Benefits of the 5 Best Instant Credit Applications in India
Although there are many personal loan applications on the market today, we have selected the 5 best loan applications based on popularity and other criteria. These are -
1) Money View Loans App
Money View, one of the most popular credit applications in the country today, offers its customers unparalleled features and benefits. Some of these include -
- The loan amount will be disbursed within 24 hours once an application is approved
- Eligibility verification can be completed anywhere in the country within 2 minutes
- You only need to submit three documents and the application process is very simple
- Affordable interest rates start at 1.33% per month with repayment terms of up to 60 months.
- Borrowers have to pay Rs. 5,000 to Rs. 5 lakhs
- Easy loan repayment through Auto Debit EMI and there is no need for collateral
- Uses a unique credit rating model so that even those with a low credit score can use it
- The borrower can repay the loan amount of Rs. 1000 to Rs. 15 lakhs.
- The loan repayment period is from 3 months to 24 months.
- Loans are provided to salaried and self-employed people
- The entire application process is online and requires minimal documentation
- Interest rates start at 13.99% per annum
- The no-use-no-interest feature ensures that interest is paid only on the amount used by one.
- Flexible repayment period ranges from 2 months to 36 months
- Interest rates are 1.08% per month and Rs. 3,000 to Rs. Up to Rs 5 lakh can be obtained
- Borrowers will also receive a complimentary MoneyTap-RBL credit card that comes with many features and benefits.
- Rewards and discounts on food, fuel, and entertainment expenses are also offered on this card
- Applicants must be between 23 and 55 years of age and have a minimum monthly income of Rs. 30,000.
- Depending on the type of loan obtained, the borrower will have to pay Rs. 1,000 to Rs. 2 lakhs
- The interest rate starts at 1.02% can vary based on the borrower’s credit history and other factors
- The repayment period starts at 2 months and lasts up to 15 months, again, depending on the type of loan obtained
- The entire loan application process from start to finish is done online
- A unique feature is the ability to collect documents at the doorstep easily and conveniently for borrowers.
- The loan amount is Rs. 5,000 to Rs. Up to Rs 5 lakh can be obtained
- These loans are available to salary person and self-employed people
- Even those without a credit history can get a cheap loan from PaySense
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