Availing a personal loan has never been smoother with ample number of instant loan apps offering consumers with immediately approved loans within minutes.
With wide number of instant loan apps available in the market, it becomes tough to pick the one that suits your requirements. Instant loan app offers immediate approval of the personal loan and aids consumers avail a loan almost immediately.
With the help of a loan app you can also apply for an instant personal loan online or check the status of your loan. Major segment of the instant loan apps will have asmooth and simple user interface that will support consumers to apply for a loan without much hassle.
An instant loan app also reduces the time needed and paperwork engaged in a loan approval procedure. We have brought a list of top 6 best loan apps that supports you in securing a personal loan.
This list presents you the best personal loan apps 2020 that requires nominal approval time alongside these also stands out affordable for most.
You should bear in mind that approval time and disbursal time are two different things. Your application can be approved within a matter of minutes even though the loan amount may take a few hours to get credited in your bank account.
As the procedure is completely online, thus, you would not require visit physically and bring hard copy documentswith you for the loan approval procedure.
An instant loan appallows you to upload the significant documents required to avail a personal loan. You can also trace your due date for EMI so that you don’t miss any payment of the EMI.
You can get a total control over your personal loan with the use of an instant loan app. This helps in applying and controlling a personal loan using just a mobile app. It offers total control to the consumer to control their loans efficiently. Let’s have a look on these top 6 instant loan apps.
List of best instant loan apps 2020 in India
Here are the top 6 instant loan apps that you can pick to avail an instant personal loan in India in 2020.
- PaySense
PaySense is one of the most popular instant personal loan apps in India that offers instant cash loans online. You can use your smartphone or laptop to check your loan eligibility, submit your KYC informationand apply for a loan, PaySense approval time lies within 5 hours.
The loan appoffers personal loans online of up to Rs. 5 lakhs and you can use anywhere from Rs. 5,000 till the time you get the full approval limit at one time. PaySense also provides an option of EMI calculator which helps you in checking how much you’ll be paying per month.
- MoneyTap
MoneyTap is also a popular personal loan app in India that provides instant funds to consumers in form of loans.
The loan app is primarily a money lending organisation with flexible rates of interest, which at present is providing service to consumersin Delhi-NCR, Hyderabad, Mumbai, Bangalore, Chennai, alongside 30+ other citiesthroughout India.
- IndiaLends
IndiaLends provides instant personal loans, credit cards, and free credit reports.The loan appprovides instant personal loans online with the best rates of interest and pays out the loan amount within 48 hours.
IndiaLends’ use extensive data and technology to enhance workflows and risk evaluations so that the loan disbursal procedure is effective, shorter and simpler.
- Dhani
Indiabulls Dhani which is often marketed as phone se loan app, disburses the loan amount instantly to your bank account. The loan app allows you to apply personal loan anytime, anywhere. Dhani provides a loan of up to Rs. 15 lakhs instantly at an affordable rate of interest starting at 12%.
The app can be downloaded for free from the Play Store/Apple Store, furthermore, enter your Aadhaar card number, your required loan amount, and the loan amount gets credited in your bank instantnly.
- NIRA
NIRA is a leading fintech company in India that provides various fund help to salaried individuals. The loan app provides personal loan online to youranging from Rs. 3,000 to Rs. 1 lakh in the form of a line of credit.
The loan tenure ranges from 3 months to 12 months. You can avail of at least Rs. 5,000 at one time. The rate of interest on the loan amount depends on how much you take out and when you pay off the loan amount.
- KreditBee
KreditBee is a popular instant personal loan app in India in between young individuals. You can avail of a loan up to Rs. 1 lakh. The loan app offers a complete online process while providing you the loan. The loan amount gets credited directly to your bank account within 15 minutes post approval.
Besides, KreditBee offers personal loan with an interest rate starting from 1.02%, however, this is the lowest interest rate that KreditBee offers, the interest rate may differ on account of various factors.
The final stroke
All of the above mentioned loan apps are the leading apps in India when it comes to avail of a personal loan, however, there are many other reliable loan apps that you can find in the market and they offer instant line of credit.
If you are also tackling with any severe condition or willing to fulfil any personal problem and lacking funds, a personal loan from any of these apps can stand out best to you.
