Money can’t buy everything, but it is one of the most crucial necessities that can make people’s lives better in many ways. For instance, a person may not get higher education, renovate the home, or fund a wedding the way they want without sufficient funding. This is when an instant loan provides much-needed financial support.
To keep up with the digital pace, many lenders have launched their loan apps in India, making the borrowing process much easier and faster. Now, one can download their preferred lender’s app on their smartphone and complete the entire loan procedure digitally. Here is a list of the seven best fastest instant loan apps that offer quick money to prospective borrowers in India.
List of Best Fastest Instant Loan Apps in India:
- Fullerton India InstaLoan App
A product of Fullerton India Credit Company Ltd, borrowers can avail of instant loans of up to ₹ 25 lakhs through this loan app. Best features include 100% digital loan procedure, online processing, hassle-free documentation, immediate approval, and disbursal in 24 hours. Salaried employees and self-employed professionals may apply for an online personal loan for weddings, travel, or medical emergencies.
- Early Salary Instant Personal Loan App
Associated with Social Worth Technologies Private Limited, this app offers loans of ₹ 8000 to ₹5 lakh at competitive interest rates. Any salaried employee earning a minimum of ₹ 15,000 can apply for a personal loan through this app.
Having disbursed more than 1.7 million personal loans through the instant loan app, the lender approves and disburses the loan in 10 minutes without any pre-closure charges. Other products available through the instant loan app are short-term and long-term personal loans, no-cost shopping loans, free education loans, and SalaryCard.
- Tata Capital – Personal Loan
Borrowers may avail of personal loans worth ₹ 20,000 to ₹ 25 lakhs through this instant loan app managed and operated by Tata Capital Financial Services Limited. Its best features include flexible EMIs, instant approval, competitive interest rates, and no collateral requirement. Not only personal loans, the app also enables users to apply for instant business loans and home loans according to their needs. Personal loans for travel, wedding, vehicle, education, and home renovation feature zero paperwork, no foreclosure charges, and a completely digital EMI process.
- Bajaj Finserv- UPI, Pay, Loans
Bajaj Finserv loan app is a Bajaj Finance Limited product that allows borrowers to apply for personal loans of ₹ 30,000 to ₹ 25 lakhs. Featuring nominal processing fees, flexible repayment tenure, and attractive interest rates, the Bajaj Finserv app facilitates quick approval and hassle-free documentation. Apart from a loan app, the application also works like an e-wallet, store locator, expense manager, and bill payments and mobile recharge app.
- IBL FINANCE – Quick Online Personal Loan App
IBL Finance Pvt. Ltd. is an RBI registered NBFC that offers personal loans of ₹ 10,000 to ₹ 50,000 through their quick personal loan app. Featuring minimal processing fee and flexible repayment tenure, the app allows instant loan eligibility checks, fast loan applications, convenient loan repayment, and 100% paperless documentation.
The best thing is that the applicants do not need to provide any collateral, guarantor, income proof, or salary slips to apply for a loan. Consumers can automatically track their monthly expenses and manage their budgets using the app’s money manager and daily expense tracker tools.
- RapidRupee – Personal Loan App Instant Online Loan
Launched by AFG Business Solutions (India) Private Limited, RapidRupee app allows prospective borrowers to apply for an instant personal loan of ₹ 1,000 to ₹ 60,000. Interest rates are competitive, processing fees are minimal, and there is no upfront or membership fee. Applicants may get approval within 30 minutes, and repayment terms range from 61 to 365 days. Without any credit checks and paperwork, the loan procedure at RapidRupee instant loan app is straightforward and quick.
- Faircent – Personal Loan and Investments
Faircent is the first NBFC-P2P lending platform to receive CoR (Certificate of Registration) from the Reserve Bank of India. Fairassets Technologies India Pvt Ltd was founded in 2013 and connects borrowers with lenders looking for the best deals. At Faircent, applicants can avail of instant personal loans of ₹ 30,000 to ₹ 10,00,000 for debt consolidation, business funding, or wedding with 100% digital procedure and no collateral requirement.
MoneyTap is India’s first app-based personal line of credit that has partnered with
several reputed banks to provide instant loan approvals of up to ₹5 Lakh. The app is
made available to all salaried employees and self-employed professionals living in Delhi
NCR, Mumbai, Bangalore, Hyderabad, and Chennai. Now get flexible interest rates on
your personal credit line quickly and easily!
Take care of all your financial needs in 3 simple steps:
- Download the app and get through a simple and secure registration process
- Complete your KYC documentation and wait for approval
- Once approved, your credit line is ready to use!
Additional Read: https://technostalking.com/gadgets/apps-and-games/
These are the top seven loan apps in India offering instant personal loans to prospective borrowers. After comparing their eligibility requirements, application procedures, approval times, and other terms and conditions, download and use the app that can most conveniently cater to your monetary needs.