Gone are the days when you had to physically apply for personal loans. It’s the digital era where even the whole process of loan application has got digitized. The trouble of standing in long queues of banks or being a victim of the high interest rates of the money lenders won’t have to be witnessed by you ever again.
In this article, we will take a look at some of the best and top rated personal loan apps in India. After a detailed research, I came up with this list of instant personal loan apps. Major factors like time to clear the loan application, repayment terms, etc. were taken into consideration before finalizing upon the following list.
Best Loan Apps in India
1. Money View Loans
If you are looking for a quick online loan app/service that would not get you stuck in hassles of paper work and grant you loan at the earliest, then you should check out Money View loans app. It’s one of the finest personal loan apps at this time in India. It doesn’t matter what your requirements are, whether you are looking forward to buying a new electronic device or covering some emergency expenses, Money View is there to help you within a matter of hours.
Right from 10,000 to 5, 00,000, you are free to choose a loan amount. Of course, you will also have to repay it with the set interest rates and for that, we recommend you to clearly go through the rules mentioned. The best part about Money View is that they not only have an easier loan grant system, but even the repayment system is very flexible upto 5 years.
2. Dhani
Dhani or more popularly known as phone se loan app is one of the most popular online loan apps in 2020, that you surely can’t miss checking out. It allows you to directly apply for a personal loan, whenever you wish to. You are obliged for a maximum of 15 lakhs loan at the interest rate of 12%. The great thing is that Dhani directly releases the loan into your bank account.
It’s very easy to get started on the app! All you have to do is just download the Dhani app and input your required credentials including Aadhaar card number, loan amount and pretty much that’s it! You will now directly receive the personal loan into your bank account. The repayment time period hails from three months to 72 months. The minimum loan amount you will get from Dhani is Rs. 1000 whereas the maximum being Rs. 15, 00,000.
3. PaySense
PaySense sports a website and an app where self employed or freelancers can easily apply for loans. Just send in your required details and wait for a few hours to get your loan approved. The whole process is very fast and smooth. There’s no need to go through hours of hassles. Obtaining a personal loan through PaySense is far better than applying for it in the real world.
The company allows you to procure loans anywhere from Rs 5000 to Rs 5,00,000. You can reach the maximum of your limit also. To make the calculation easier and fatter for you, there’s an inbuilt EMI calculator, which will basically give you an idea on how much you have to pay each month.
4. KreditBee
The young professionals are in love with KreditBee as it makes it very easy for any 18+ individual to apply for a loan. Just like other loan apps listed in here, this one too works full electronically. You don’t have to worry about physical examinations and all at any point of the loan application process. It’s important that you submit all the necessary documents as then only you can expect your personal loan request to be passed.
The validation and processing period may take a little time, depending upon situation to situation. Though, once the loan is approved, it will be directly transferred to your bank account only. KreditBee has a minimum loan amount of Rs. 1000, whereas the maximum going up to Rs 1, 00,000. All in all, this is a fantastic credit app running since 2015.
5. Early Salary
Early Salary is a Pune-based fin-tech company, which is gradually gaining its mark in the industry. If you are someone who works on the wage system, then you should definitely check out this app. Early Salary, as the name suggests, is perfect for those individuals whose income gets over in the middle of the month only. It basically provides you a personal loan that can help you to pay your remaining bills and cover other necessary expenses.
There’s the option to repay the loan amount in a period of 50 days in clear EMIs. Early Salary has also started to gain the attention of potential investors, as some time back, it was funded 100 crores and to be honest, that’s a commendable strike for a company like Early Salary! The service has got you covered with a personal loan of up to 1, 00,000.
Conclusion:
The market is filled up with a variety of personal loan apps, and instead of making the market better more choices have led to more confusion. This was one of the sole reasons that we decided to bring up an article, where we discuss the top instant loan apps in India for 2020. The above listed apps are few of the top players in the industry and should get you covered with your personal loan at the earliest and in a smooth manner.
That being said, don’t forget to always carefully read up the rules, conditions, policies, etc. of the service that you are opting for. Once you leave this article, make sure that you perform a comparison among the top listed apps and then go for the best one that meets your requirements.
