A personal loan is an urgent source of finance people may use when they are short on cash. They have no end-use restrictions. As a result, one may borrow them for any planned or unplanned expense, be it a medical emergency, wedding, vacation, education, or home improvement. For a borrower, a personal loan app is like a financial cushion they may rely on.
Personal loan apps have made a loan application and disbursal much easier and faster than ever. While traditional lenders take several days to process loan applications, loan apps make funds available within 24 hours without the borrower leaving their house. So, the next time you feel a pinch for cash, check out these nine user-friendly instant loan apps in India.
List of User-Friendly Instant Personal Loan Apps:
- Fullerton India Loan App
Fullerton India is one of the best loan apps offering personal loans of up to Rs. 25 lakhs at competitive interest rates. Applicants don’t need to wait for long to get approval. Why do we call it the best instant loan app among others? It supports 100% digital loan procedure, including application, documentation, approval, and disbursal.
The lender offers flexible EMI plans of 12 to 60 months, making loan repayment easily manageable and hassle-free for the borrowers. If you need a personal loan in an emergency, simply download the app on a smartphone and provide a few basic details to start the application procedure.
- PaySense Personal Loan App
PaySense is one of the fastest personal loan apps in India. To get started, download the application, register, check eligibility, provide KYC details, and apply. After that, you may acquire a personal loan of Rs.5,000 to Rs.5,00,000, which you may use to fund any expense, like wedding, two-wheeler purchase, education, medical emergency, home renovation, vacation, consumer durables, or credit card bills.
- MoneyTap Loan App
MoneyTap is a credit line-based personal loan app offering credit lines of up to Rs. 5,00,000. You need to pay interest only on the amount you withdraw from your approved credit balance. They also offer Rs. 10,000 at 0% interest to select customers in over 1200 cities. Borrowers are free to select their EMIs for 3 to 36 months. The instant loan app offers a 100% paperless loan experience to applicants.
CASHe is known for its instant loan approvals. That is the primary reason why we call it one of the best loan apps in India. You may easily get a personal loan of up to Rs. 1,00,000 with a simple download and registration process. Boasting instantaneous loan approvals, allows borrowers to choose a loan term of 91 days to 24 months.
- Home Credit
Home Credit has established itself as the user-friendliest personal loan app in India. You can easily download and register on the app and apply for a personal loan of Rs. 5,000 to Rs. 5,00,000. Choose a repayment term of 3 to 51 months without the need to visit the lender’s office even once.
- PayMe India
This is one of the most accessible personal loan apps for any Indian citizen from 18 to 56 years of age. Are you looking for a short-term loan?
You may use this app to get a loan of Rs. 2000 to Rs. 2 lakhs for 3 months to 2 years. Easy eligibility conditions and minimal documentation requirements make the loan process simple and short. Hence, we include this app in this list of the best loan apps in India.
IndiaLends is an excellent platform offering extensive benefits to personal loan borrowers. The personal loan app lends loans of up to Rs. 25 lakhs for almost all kinds of financial necessities in terms of a medical emergency, home renovation, vacation, education, etc.
This is one of the favorite personal loan apps for Indians. They offer personal loans of Rs. 10,000 to Rs. 5,00,000 for 3 months to 5 years of the loan tenure. Low-interest rates and transparent loan procedures make this app a platform most people look for.
Are you looking for a small loan amount of Rs. 500 to Rs. 30,000? Apply at pocket to get the funds at competitive interest rates and a loan tenure of 61 to 120 days. The app transfers the loan amount to your bank account or Paytm account within 2 minutes, and you even get rewards for timely repayments.
Must Read: Know How Technology is Helping Lenders Disburse Loans Instantly!
With so many loan apps in the market due to technology, the chances of getting an easy loan have grown exponentially. Quickly compare the available loan apps and get the one most suitable for your needs. What are you waiting for? Download and install your favorite personal loan app now!