As we are expanding our digital accessibility, Personal loan processing also has become easier using an instant loan app. Their paperless and fully digital process has made them popular among people.
You can sign up, complete eKYC, and apply for a personal loan. You get instant approval and loan amount credit. You can find a myriad of personal loan apps. Here is the list of the top 25 Instant Loan Apps offering a significant loan at competitive interest rates:
| Instant Personal Loan Apps | Loan Amount |
| 1. Fullerton India InstaLoan App | Rs.25 Lakhs |
| 2. Bajaj Finserv | Rs. 25 lakhs |
| 3. Navi | Rs. 20 Lakhs |
| 4. Buddy Loan | Rs. 15 Lakhs |
| 5. Indiabulls Dhani | Rs. 5 Lakhs |
| 6. MoneyTap | Rs. 5 Lakhs |
| 7. EarlySalary | Rs. 5 Lakhs |
| 8. StashFin | Rs. 5 Lakhs |
| 9. MoneyView | Rs. 5 Lakhs |
| 10. PaySense | Rs. 5 Lakhs |
| 11. CASHe | Rs. 4 lakhs |
| 12. PayMe India | Rs. 2 Lakhs |
| 13. Flex Salary | Rs. 2 Lakhs |
| 14. Home Credit | Rs. 2 Lakhs |
| 15. KreditBee | Rs. 2 Lakhs |
| 16. FlexSalary | Rs. 2 Lakhs |
| 17. RupeeLend | Rs. 1 lakh |
| 18. Credy | Rs. 1 Lakh |
| 19. LazyPay | Rs. 1 lakh |
| 20. NIRA | Rs. 1 lakh |
| 21. ZestMoney | Rs. 1 lakh |
| 22. CashBean | Rs. 60,000 |
| 23. SmartCoin | Rs. 25,000 |
| 24. mPokket | Rs. 20,000 |
| 25. ePayLater | Rs. 20,000 |
Table of Contents
Why Choose Instant Personal Loan App
1. Fast processing
Loan apps make the loan approval procedure much faster. It allows applicants to access instant credit to meet unplanned expenses. Personal loans are often taken for emergencies, and these apps are a great help in those conditions.
2. Minimal Documentation
Another perk of instant personal loan apps is minimal documentation requirements. The basic documents needed for an easy personal loan are as follows:
– ID Proof
– Residence Proof
– Bank statements (past 6 months)
– Salary slips (past 3 months), and ITR or Form 16 (for salaried persons)
3. A High Personal Loan Amount
Depending on your eligibility, you can apply for a personal loan of Rs. 50,000 to Rs. 25,00,000 with leading NBFCs. You can use this amount to meet medical expenses, fund the higher education of your children, manage wedding expenses, or pay your home’s repair or renovation costs. There is no end-use limitation to use loan amounts.
4. Flexible Loan Tenure
Personal loans are offered with flexible repayment tenures. You can choose from 12-60 months. You calculate the EMIs in different tenures using an online personal loan calculator and apply for the best one according to your financial situation.
5. Online Personal Loan Eligibility Calculator
Lending institutions offer an online calculator that helps you to check your personal eligibility and calculate the loan EMIs. You will know the applicable interest rates offered per your eligibility. It helps the borrowers decide on the suitable loan amount and tenure they can repay on time without financial distress.
Ways to Ensure Security While Using Instant Loan Apps
While looking for easy loan processing via instant loans, you should prefer trustworthy platforms. You can check the credibility of the lending institution by visiting the official website.
1. Look at the background of the lender.
Little research is always recommended before applying. Find out how long the institution has been in the market and when it launched its official loan app. You should always go with renowned and credible sources.
2. Pay attention to the asked personal data access by the app.
When you apply for a loan via an instant loan app, it wants you to access your personal data. It may ask for your gallery access to take a picture and upload your scanned KYC documents. You can restrict apps from accessing your financial data.
3. Consider ratings and reviews given for the app.
Individuals often post reviews on the Google Play Store or the official website of the lending institution. Pay attention to the feedback of existing clients of an institution to know about the service quality, loan facility, and app safety.
Thus, in today’s technological era, you can benefit from speedy financing sources, like Instant personal loans. Apply for a personal loan on your mobile using the InstaLoan app.
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