Whenever you have a cash emergency and your peers and family are unable to help you or If you need a large amount of money, You might approach financial institutions but the processing time will be around few weeks.
In these situations, some of these apps can help you by providing instant personal loans, with less paperwork and documents. The processing time will be around 3-5 days.
1. Paysense
PaySense is the Mumbai based venture-backed financial services startup founded in 2015. The main aim of PaySense is making finance more simple, accessible and transparent.
- Get instant personal loans from ₹5000 to ₹5 lakh to fit all your needs and dreams
- Get prompt loan approval and money in your account
- Doorstep collection of documents; just sign & hand over the required documents to the courier
- Easy to manage EMI plans with reminders and auto-debit features so that you don’t miss out on timely payments
The interest will be around 17% based on your risk profile. Your request will be processed in 3-4 days once KYC documents and bank statements are submitted.
2. Kredit Bee
KreditBee offers instant Personal loan up to ₹ 1 Lakh at competitive interest rates. Thanks to the minimal documentation and processing time required, the entire loan application process (from profile creation to disbursement) takes less than 10 minutes.
It is also completely online, through the KreditBee app. That way, a lot of time and effort is saved as there is no manual intervention required. Upon approval of your documents, the loan amount is transferred directly to your bank account within minutes. You needn’t worry about rigid repayment schedules either, as they are flexible and can be set based on your repayment capacity.
3. Indiabulls Dhani
Indiabulls Dhani is backed by Indiabulls ventures. You can get a personal loan from 1000 to 15 Lakh using this app. The interest rates will be ranging from 1% to 3.17% per month depending upon the risk profile of the customer. The tenure will be around 3 months to 36 months, customers can choose the tenure.
The processing fee ranges from 1.5% to 6%. Zero foreclosure charges on loans below 20000 Rs
4. Cashe
CASHe is the mobile app through which you can avail the instant personal loan from Rs. 10000 to Rs. 200000. The loan approval process is really fast and easy. You can avail the loan for 15, 30, 90 and 180 days.
CASHe has a unique credit ranking system called Social Loan Quotient (SLQ). The SLQ system is based on big data analytics, Artificial Intelligence and predictive tool to calculate SLQ score. This basically predicts your current social behavior and future behavior.
The credit risk through SLQ is calculated based on the various aspect like a mobile and social footprint, education, monthly income etc.
Salient Features of CASHe App :
- Send up to Rs. 2000 to any of your mobile phone contact using CASHe app
- Its SLQ (Social Loan Quotient) uses your social media footprint to determine your creditworthiness
- CASHe uses Blockchain technology to offer loans
- Paperless loan application
5. EarlySalary
EarlySalary is projected as a salary advance and Instant Personal Loan App. You can get a loan up to 2 lakhs. No credit history required for availing loan using this app. This app can be used at Amazon, Flipkart and Big Bazaar, etc
The interest rate applicable on loan amount is 24-25% i.e, 2-2.5% per month. The EarlySalary app can be used to avail loan at specific cities. There is no processing fee required for availing loan using this app.
6. MoneyTap
MoneyTap is among best instant personal loan apps where you pay interest only on the withdrawn amount.
- Through a simple and secure registration process, fill up basic details such as your age, city, PAN number, income.
- Once you have received your pre-approved line of credit amount, we’ll schedule a KYC visit from Moneytap registered banking partners to collect your KYC documentation for final approval.
- Borrow as little as ₹ 3,000, or up to your approved limit, 24/7. Use your MoneyTap credit card anywhere, anytime.
- Repay your borrowed amount in flexible EMIs of 2-36 months right from the app with one tap
- Keep track of all your transactions and details, EMIs and available credit limit right from your MoneyTap account.
The maximum loan amount offered by this app is 5 Lakh.
7. Moneyview
Moneyview is a personal loan app that allows customers to apply for a loan through the app, without collateral. All you have to do is upload relevant documents and in a few hours, get to know if they have been approved or not.
Moneyview provides loans ranging from Rs 25,000 to Rs 2 Lakh, with repayment tenures of 3 to 12 months. This can be a great way to fund big-ticket purchase or expenses.
8. Upwards
Upwards is a Mumbai based short-term loan provider for salaried people in India. You can take personal loan between Rs. 15000 to Rs. 50000 through the mobile app. The process of taking loan is completely paperless and it takes no more than 1 day for loan approval.
The loan can be avail in major 30 cities of India that includes Mumbai, Delhi, Bangalore, Hyderabad, Chennai, Jaipur, Pune, Indore, Bhopal, Coimbatore & Ahmedabad.
You can avail the loan for weddings, home renovation, medical emergencies, travel, gadget purchase, debt consolidation, etc.
Eligibility for availing loan through Upwards
- A salaried person with a minimum take-home salary of Rs. 15000/month
- Age above 24 years and below 50 years
- Resident Indian
- CIBIL score should be above 625
- Purpose of the loan must be matching with the list
