Table of Topics
- How to apply for an Instant Loan through App?
- List of 5 Best Instant loan apps in India 2021
- 1) Paysense
- Features and benefits of the PaySense App
- 2) Indiabulls Dhani
- Features and benefits of Indiabulls Dhani App
- 3) KreditBee
- Features and benefits of KreditBee App
- 4) MoneyTap
- Features and Benefits of MoneyTap App
- 5) MoneyView
- Features and benefits of MoneyView app
Instant loan apps in India: The necessity for money can occur to anyone and any time like house rent, car EMI, medical treatment, month-end crisis, or any other financial emergency. To ditch, this crisis one has to borrow money either from the bank or from the moneylender.
As we know, borrowing money from a bank is not as simple as we see it. If you do not have proper information about the procedure, this can be difficult and time-consuming. To display our credibility to have seamless loan processing, we have to go through various paperwork and also have to place something as security. But this is not the scenario now, smartphones and the Internet help us diversely on many occasions. With the help of the Internet, we can apply for an instant loan from our smartphone through an application. We need to download the specific loan application, and by following certain simple steps, anyone can get money directly in their bank account within a few hours.
There are many applications available right now in the market, which offer enough amount on reasonable interest rates. With the help of these applications, one can quickly get a loan without approaching a bank or any office physically. You have to download the app and also fulfill the criteria to avail of the loan.
How to apply for an Instant Loan through App?
Getting a personal loan through instant personal loan apps is quick and takes a few seconds for approval. You need to follow the following steps to get a loan through these apps.
- Register for instant personal loan applications such as Paysense, Indiabulls Dhani, Kreditbee, MoneyTap, and MoneyView.
- Check your eligibility for the personal loan.
- Next, fill in the essential personal and bank details.
- The loan amount will instantly be transferred to your bank account.
List of 5 Best Instant loan apps in India 2021
- Indiabulls Dhani
In this post, we have listed some of the best instant loan apps in India. You can easily apply for these apps and get instant loans within minutes.
Paysense is one of the best ways to get a personal loan in India. Here are both platforms (app and a website) where salaried professionals and self-employed individuals can apply for an instant personal loan. The approval process for the loan is very fast provided documents submitted by you are in order. Get a personal loan ranging from Rs 5000 to 5 lakhs without collateral and flexible interest rates. The app allows you to choose an auto-debit option for your EMI, making it easier to secure a personal loan.
Features and benefits of the PaySense App
- The Application interface is easy and quick.
- PaySense offers a 2-minute loan application process.
- The whole process is paperless and online.
- Minimum Loan Amount: INR 5,000 and Maximum Loan Amount: INR 5,00,000
- No processing fees for getting loan approval.
- Automatic deduction of EMI from your bank account.
- Interest rates of 13% per annum.
2) Indiabulls Dhani
Former Indian cricket team captain Mahendra Singh Dhoni became the brand ambassador of Indiabulls.
You can apply for a personal loan anytime, anywhere. You can get a loan of up to Rs. 15 Lakh instantly into your bank account at an interest rate starting at 13.99% onwards. All you need is your Pan Card and Address Proof, personal loan application with the Dhani app has minimum eligibility and documents requirement. The lean interface aims at providing the most simple and instant personal loan disbursement experience with minimum documentation.
Using the Dhani App, you can not only apply for a personal loan at the best interest rate but also manage your loan account, pay dues, earn Dhani points and do much more by just using your smartphone.
You can download the Dhani loan app for free, enter your Adhaar card number, your loan amount, and get the loan amount in your account instantly. If your documents are verified, then you will receive your loan amount instantly in your bank account.
Features and benefits of Indiabulls Dhani App
- Refer friends and family for a Dhani loan and get Dhani cash up to ₹ 500 on each successful loan referred.
- A paperless online loan approval process.
- You only need to digitally upload scanned copies of the subsequent documents like PAN
- Card Details, Address Proof, Bank Details while applying for a personal loan.
- You should be a Citizen of India
- Interest rates starting from 1% to 3.17% p.m., ranging from ₹ 1,000 to ₹ 15 Lakhs, and has zero foreclosure charges on loans below ₹ 20,000.
- One can avail of loans for a tenure of 3 months to 36 months.
- You should be at least 21 years of age
- You should be a salaried professional or a self-employed entrepreneur
- Processing Fees range from 1.5% to 6%.
KreditBee is especially for young professionals with a stable monthly salary and needs quick cash without any Bond. It is one of the best instant loan app. Remember, one thing If your age above 18 years old then you can get an instant loan from the Kreditbee app. This App allows us to applied loans range of Rs 1000 to Rs 1 lakhs. The disbursement may take time between 5 min to 24 hr. KreditBee directly transfers to your bank account.
You can also use the App to shop on partner websites like Flipkart, Amazon, Myntra MakeMyTrip, etc. using an e-voucher from Kreditbee and later paying it in equal installments.
Features and benefits of KreditBee App
- A paperless online loan approval process.
- Minimum documentation required like PAN Card and Adhaar card, the approval of the loan application.
- The App is secured with 128 bit SSL encryption to safeguard your relevant data.
- Get extra benefits and a higher loan amount for the timely repayment of EMI.
- Choose a flexible tenure ranging from 62 days to 15 months.
- This app will charge a processing fee of rs 100 onward. Processing fee depending on your loan amount.
- Flexible interest rates ranging from 0% to 2.49% per month.
MoneyTap is one of the most popular instant loan apps currently available in India. It is an app-based personal credit line, offered in partnership with banks and NBFCs, to bring you the best service among all the others. MoneyTap provided instant approval for a credit line of up to 5 lakh. And you can withdraw as little as Rs 3000 up to your full approved credit limit. And also pay interest only o the amount you use. You need to download the MoneyTap app and register after it completes KYC documentation for final approval.
Features and Benefits of MoneyTap App
- Minimum Loan Amount: INR 3000 and Maximum Loan Amount: INR 5, 00,000
- Flexible EMI tenure ranging from 2 to 36 months.
- A paperless online loan approval process.
- Get cash immediately in an emergency.
- Using the application, you can get approved for a personal loan within 4 minutes.
- Based on your salary and credit score, you can choose any amount from the pre-approved loan amount.
- MoneyTap App has a fully secured API and interface to protect your sensitive documents.
- You also get added benefits like getting 0% Interest rate EMI for shopping on Amazon.in for three months.
If you need significant money for an emergency, this is probably the best instant loan app that you can download. It is a great app that allows you to borrow an amount starting from 10,000 INR up to INR 5 lacs and also lets you pay in easy EMIs within three months to 3 years. This app can automatically read your bank SMS to help you manage your budget and track your expenses. The whole process takes place through the app, which is quite easy and paperless. After your documents are approved, you get access to your desired loan amount. MoneyView has been growing over the last few years and is now present in several Indian cities.
Features and benefits of MoneyView app
- Get a personal loan of up to 5 lacs within two business hours credited directly to your bank account.
- You can use the built-in expense tracker system to track all the expenses through text messages.
- The loan amount ranges from 10000 rupees to 5 lacs.
- The processing fee charged is nominal at 2.5 % to 4%.
Hope you like this article on the best Instant loan App in India 2021, then share it with friends, colleagues, and those who need it.
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Note – Except for Kreditbee, I have not used any of the apps mentioned above for availing of a personal loan. The information given above is collected from various sources.
Do you use any of the Instant personal loan apps given above? Do share your experience in the comment section given below.