Individuals needing funds to cover their expenses can consider the option of getting financial support from a personal loan. Shelling out considerable amounts from savings is not the wisest thing. Whether they need funds to finance a wedding, vacation, home improvement, education, or medical emergency, an instant loan app on the smartphone gives the option of acquiring funds as required.
Not sure which personal loan app is the best? Here is a list of the best loan apps in India.
List of Personal Loan Apps in India:
- 1. Fullerton India Loan App
Fullerton India InstaLoan app is one of the most reliable apps offering instant loans of up to Rs. 25 lakhs with no end-use restrictions. They have easy eligibility conditions and minimal documentation requirements, making it easy for the borrowers to get the needed funds at the right time. The best features of the app include 100% digital loan procedure, 24/7 accessibility, and the trust of Fullerton India, which has been offering financial products in India since 2007.
The online loan app from Fullerton India has a simple 7-step procedure to apply for a personal loan. The lender is best known for its competitive interest rates, flexible repayment terms, and quick disbursal in 24 hours. So, whenever there is an urgent need for funds, download the Fullerton India app on a smartphone and start the application process anywhere.
- CASHe Loan App
CASHe offers personal loans of Rs. 1,000 to Rs. 3,00,000 at competitive interest rates and a repayment term of 3 to 12 months. The app supports 100% digital loan procedures without human intervention, making a wide range of personal loans accessible within minutes. A personal loan from CASHe does not require any collateral or guarantor. There are no foreclosure charges involved, and the borrower may enjoy shopping at no-cost EMI. Borrowers may avail of a personal loan within minutes by following the 5-step loan procedure at the CASHe instant loan app.
- PaySense Personal Loan App
An app from PaySense Services India Private Limited, PaySense personal loan app, is one of India’s fastest and safest personal loan apps. Those looking for personal loans from Rs.5,000 to Rs.5,00,000 can avail of one within minutes at competitive interest rates. The only condition is that the applicant should be 21 to 60 years of age and based in any of the 180+ cities they serve in India. However, there are eligibility conditions related to the applicant’s income. The app’s best features include convenient EMIs, a 2-minute digital application procedure, paperless documentation, and loans for individuals with low credit scores.
- Home Credit Loan App
Home Credit is an online loan app from Home Credit India Finance Private Limited, offering personal loans from Rs. 5,000 to Rs. 5,00,000 to eligible candidates. The 5-step digital application procedure makes funds accessible within five minutes. Any salaried employee, self-employed professional, or pensioner from 19 to 68 years of age can apply for a personal loan using the app. The repayment tenure may range from 3 to 51 months, depending on the borrower’s financial obligations and repayment capacity.
- MoneyView Loan App
The MoneyView instant loan app makes personal loans of Rs. 10,000 to Rs. 5,00,000 available within minutes. The interest rates are competitive, and the borrower may select a repayment plan from 3 months to 5 years. Serving over 5000 locations in India, the application has a 5-step procedure to get a personal loan in two minutes. A salaried employee or self-employed professional from 21 to 57 years of age can apply for a personal loan using the app. It supports 100% online loan procedure, paperless documentation, and no hidden charges.
- PayMe India Loan App
PayMe India offers personal loans of Rs. 2,000 to Rs. 2,00,000 to fund education, medical emergencies, wedding, home improvement, or travel. Borrowers may also take it to buy a mobile phone, pay a rental deposit, clear monthly bills, or buy furniture, home appliances, or other consumer durables. A salaried employee earning more than Rs. 15,000 can apply for a loan at PayMe India. Furthermore, they may select a repayment tenure of 3 to 24 months, depending on their repayment capacity. The best features of the online loan app include 100% paperless documentation, quick approval, no foreclosure charges, and no collateral requirement.
The presence of so many reputable loan apps has made personal loans easily accessible to the common person. However, it’s crucial to compare them and select an instant loan app suitable for the current credit requirement.