Instant Loan Apps in India

An instant loan is a legal way of giving loans for helping the individuals to meet their financial needs and all their dreams can be fulfilled by applying it. All these loans are given to individuals based on their credit history and ability to repay the loan. So, the loans can be given to them on the purpose of the emergency when they are applying from the applications. Also, individuals can apply for a loan online by sending their scanned documents and then credited to your bank account instantly. Below are the steps for instant loan apps in India.

PaySense

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This the online platform for getting the instant personal loan and PaySense is partnered with IIFL and Fullerton for disbursal of personal loan. The individuals can install the PaySense application and get the loan for medical emergencies, marriage expenses, buying a two-wheeler or any other requirements. So, the maximum amount of loan which is given by the application is 2 Lakh and the rate of interest will start at 16.8% per annum.

EarlySalary

Through this application, individuals will be getting loans ranging from Rs15000 to Rs2 lakh and credit history is required for applying for the loan. So, the interest rate will range from 2-2.5% per month. Also, you have to pay a 2% processing fee for availing loans by using this application.

MoneyTap

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MoneyTap is the instant loan apps in India where individuals need to pay interest only on the withdrawn amount. So, this application has a partnership with leading NBFCs in India. You can get an instant personal loan online with zero collateral and interest rates which starts from 13-24.3% pa for 2 to 36 months.  Also, the maximum loan amount offered by the application is 5 Lakh.

CashE

CashE will provide instant short-term personal loans for the young professional based on their social profile, merit and earning potential by using its proprietary algorithm based on the machine learning platform. This application doesn’t require any personal intervention and physical documentation for availing personal loans. The individual can get the loan from Rs 5000 to Rs 2 Lakh through this application with 1.5% per month.

The loan can be beneficial to individuals who need money for their personal and emergency purpose which can benefit them in some way or another. Hope that I have covered all the topics in my article about instant loan apps in India. Thanks for reading!

About janejoshua 17 Articles
Jane Joshua is a research analyst for Smarter Choice. He is an expert on consumer banking products, bank innovations, and financial technology. Joshua has contributed and/or been quoted in major publications and outlets including Consumer Reports, American Banker, Yahoo Finance, U.S. News - World Report, The Huffington Post, Business Insider, and Lifehacker

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