Loan apps are an excellent resort while you need funds for personal commitments without a bond. You can easily avail of instant loans provided by instant loan apps without any paperwork in a shorter processing time. Most lenders allow you personal loans before 24 hours. Additionally, the loan amount is disbursed within minutes of sanction to your bank account.
There is a myriad of instant loan apps available in the market. Given the choices, it is naturally confusing to pick one among them. So, here is a list of the top 5 personal instant loan apps in India.
List of Top 5 Best Personal Loan Apps in India
- Fullerton India Insta Loan App
Look no further if you are looking for an established lender who offers the lowest personal loan rates. Fullerton India is the best lender out there. The lender has an established reputation with offices spanning around 649+ cities in India. The app offered by them is trustworthy and easy to use. It provides the lowest ever interest rates on personal loans and a reasonable loan amount. According to your eligibility, you can avail of personal loans up to 25 lakhs with interest rates as low as 11.99%*. The app also has free tools like the Eligibility Calculator and EMI calculator to help you plan your loans. It is hassle-free and easy to use and offers customer support facilities too.
- Payments Loan App
Payments is an Instant personal loan app that offers instant personal loans up to 5 lakhs. The app provides an interest rate starting at 15.96%. It offers instant loans online to salaried millennials. It includes credit, EMI, insurance services and payments to much financial assistance through the online portal. The app has features like affordable EMI options and auto-debit facilities.
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- MoneyTap Loan App
Money tap is another popular online loan app that offers you quicker personal loans at a short turnaround. You can avail of a loan of up to 5 lakhs using the app at an interest rate of 13% per annum.
The app offers you instant loan approval in just 4 minutes and lesser paperwork. The loan amount starts from ₹3,000 up to five lakhs. The maximum loan amount will be based on the credit limit authorized to you. The app also offers you credit card features to allow you to spend up to the credit limit sanctioned to you.
- India Lends Loan App
One of the premium lending platforms, the instant loan app offers users low-interest rates and 40+ loan schemes. India Lends loans up to 50 lakhs at an interest rate starting at 10.75% per annum. The loans are swiftly disbursed to your account within 24 hours. The app offers you a minimum loan amount of 15,000. To avail of the loans, one needs to register themselves in the app. It will also reveal your credit scores in a minute.
- mPokket Loan App
mPokket is a popular loan app that students most prefer. The app offers short term loans to students and young professionals who face the end-of-month cash crunch. The loans do not ask for a mandatory bank account. The loans are transferred according to the modern payment alternatives using digital wallets according to the borrowers’ preferences. The flexibility of this app is preferred by all. One can avail of short-term loans for a minimum amount as low as Rs 500 using the app. There is no documentation involved for the app other than a college ID. The easy repayment and the flexibility offered by the app makes it the most preferred by students and young millennials.
Check for additional costs and conditions before choosing a lender. It is also imperative to evaluate the apps safety, credibility, third party integrations, user-friendliness before zeroing in. Look for the one that suits your requirement before making the decision.
With so many personal loan apps in the market, we hope this quick comparison guide for instant loan apps helped you pick and choose among the plethora of possibilities out there. Note that not all apps in the play store are trustworthy. With plenty of scams out there, it is imperative to research the lender’s credibility and check for the physical office address on the internet. Conduct a thorough market search before taking any decision.