5 Best Instant Personal Loan Apps In India

A personal loan is a godsend for borrowers because they can use it in a distressing time or when they are low on funding. Needless to say, it is an unsecured loan that can be taken out by individuals to fulfill their personal objectives from a bank or a non-banking financial company (NBFCs). A loan is sanctioned based on important factors including income, credit, repayment capability, and so on. You can also borrow money to use as an emergency fund by taking out a personal loan. Of all those advantages, most borrowers consider that a personal loan is the most convenient financial support. The application and disbursement of personal loans have become even simpler & credit into the back account just in 24 hours, thanks to advances in technology. 

As a result, applying for a personal loan with an app has revolutionized the method of individuals to borrow funds efficiently with a 100% online & paperless process. Instant Personal Loan Apps have become a popular option for individuals searching for quick loans with minimal paperwork. Borrowers can use apps to not only file an online loan application but also to manage the whole loan process digitally and conveniently. 

Read More: How is AI having an impact on people from all walks of life? | 7 Reasons Why You Should Invest in IT Support

And considering the same here are the 5 best instant personal apps in India that you must give a look at before applying for a loan. 

Money View Loans 

Money View’s personal loan app will help you get a personal loan in as little as 24 hours. Money View’s personal loan is completely paperless, quick, convenient, and flexible. Money View offers personal loans ranging from Rs 5,000 to Rs 5 lakhs. The repayment period will be somewhere between three months to five years. Start applying for an instant loan with Money View now and receive the money just in 24 hours directly to your bank account. With a flexible loan repayment term of up to 5 years, you can take advantage of low interest rates starting at 1.33% per month and low loan processing fees starting at 2%. 

MobiKwik 

The main advantage of an unsecured loan is that you don’t have to pledge any collateral to get an instant personal loan. The procedure is simplified with the MobiKwik app; users can access an online loan by downloading the MobiKwik app or visiting the MobiKwik website. Apply for a personal loan online via MobiKwik, one of the most trusted sites available. The MobiKwik app enables customers to get an instant personal loan up to Rs 5 lakhs without the need for any collateral. MobiKwik will satisfy your wishes in a single touch as the loan procedure is simple and straightforward. With the MobiKwik app, you can apply for an instant loan online and get instant cash loans with minimal eligibility criteria and paperwork. The MobiKwik app or website

is the safest tool to use for low-interest instant loans. With MobiKwik, one can get instant money from a loan in just a few simple taps. 

Read More: Benefits of Machine Learning in Point of Sale | How Fintech is Going to be Big in 2021

KreditBee 

Under the KreditBee group of companies, KrazyBee Services Private Limited, a non-banking financial company (NBFC) provides a personal loan app and credit partner to the loan borrowers of India. With KreditBee you can easily apply for an instant personal loan online and get up to Rs 2 lakh directly in your bank account. KreditBee is a portal that facilitates loan transactions between borrowers and non-banking financial companies (NBFCs) and banks. You can get a flexible loan option with KreditBee, where you can get a loan in as little as 10 minutes through direct bank transfer. What you need is your PAN card and proof of address to borrow between Rs 1,000 and Rs 50,000 for a period of 62 days to 6 months. A salaried person, on the other hand, can borrow between Rs 10,000 and Rs 2 lakhs for a period of 3 to 15 months. 

MoneyTap 

Get personal loans up to Rs 5,00,000 in as little as 2-36 months. MoneyTap provides instant loans through the smartphone app with minimal paperwork and clearance in a matter of minutes. MoneyTap Personal Loans begin with a monthly interest rate of 1.08% (13% per annum). The best thing is that you can have a credit limit of up to Rs 5 lakh approved, so you won’t have to pay any interest before the money is transferred to your bank account. You don’t even have to withdraw the whole amount; you can just take out as much as you need from your credit limit. Just the amount that has been used will be charged interest. Choose flexible EMI options of 2-36 months to pay when it’s suitable for you. MoneyTap is the first and most successful app-based credit line loan in India. The MoneyTap app has been downloaded by over 10 million users. For a MoneyTap Personal Loan 2.0, you’ll also get a MoneyTap-RBL Credit Card, which comes with a variety of perks and advantages. This credit card can be used for both online and offline transactions, and you can spend up to your authorized cap, which you can then turn into EMIs if you choose. MoneyTap is an easy-to-use smartphone app that allows you to access your account without leaving the comfort of your home or workplace. 

Also Read: Best Android App Development Tools in 2021 | How to Set Up Your Own Live Stream Website for Your Audience?

LoanTap Personal loans from LoanTap are available online, instantly, and in a straightforward manner. With LoanTap app witness the online loan approval process and the fast disbursement of the amount within 24-36 hours. After 6 months of disbursement, you can turn to an EMI-free loan, enhancement, and accelerated repayment option. An individual can apply for a personal loan with LoanTap if he or she is at least 21 years old and has a monthly income of Rs 30,000. Personal loans are available in an amount ranging from Rs 50,000 to Rs 10 lakhs. The amount of your loan is determined by your eligibility and credit score. On the total loan amount sanctioned, there is a 2% processing charge plus GST.