When financially distressed times hit us, we have no choice but to use our savings to manage our finances. At times, even our savings are not even to cover the cost of a medical emergency, wedding, education, or international travel. In such cases, you can apply for a personal loan without putting any burden on your monthly budget.
With the advent of personal loan apps in India, acquiring personal loans has become quick and convenient. You only need to download a personal loan app on your phone, fill in your details, submit your documents, and then receive the approved loan amount into your bank accounts within hours. Irrespective of the time and place, you can access funds to cater to your financial needs.
We have prepared some of the best quick loan apps in India to help you choose one that best suits your needs and preference
List of Some Best Quick Loan Apps in India:
- Fullerton Indian Instaloan App
It is one of the best quick loan apps that offers a hassle-free application process for salaried and self-employed professionals. You can pay the sanctioned loan amount for almost any purpose you would like. For instance, you can pay for a medical emergency, education, wedding, international travel, or home renovation.
The benefit of Fullerton India’s quick loan app is that it is available 24×7. It enables you to access funds instantly from the comfort of your home. After your loan is approved, the amount gets transferred to your bank account within 24 hours. Fullerton India offers up to Rs. 25 lakhs as a loan at interest rates starting from 11.99%, and the repayment tenure can go up to months.
The entire application procedure to acquire a personal loan is online, and it also allows you to track your application status on the app. The documentation process is easy and hassle-free. If you are an existing customer, you can avail yourself of additional loan benefits.
- KreditBee Loan App
KreditBee is known for having robust security. The personal loan app comes with 128-bit SSL encryption to protect your personal information on the app. Download the app from your smartphone’s app store, fill in your details, and upload your documents. The approved loan amount will be credited to your bank account within minutes.
KreditBee offers a maximum loan amount of Rs. 2 lakhs at an interest rate of 2.49% per month, and its repayment tenure ranges between 62 days to 15 months. You can use KreditBee to shop websites like Amazon, Flipkart, Big Basket, etc.
- EarlySalary Loan App
Both salaried employees of an organization and self-employed individuals can apply for a personal loan EarlySalary. It is, however, designed to meet the needs of borrowers with short-term commitments and no credit score. The loan amount can range between Rs. 5000/- to Rs. 5 lakhs.
You will have to ensure that the information and documents you have submitted are accurate to get the approved loan amount credited to your registered bank account within 10 minutes. EarlySalary offers a minimum interest rate of 2% monthly. To get a personal loan, you will have to incur Rs. 399/- as a processing fee.
- mPokket Loan App
mPokket is a personal loan app that best serves students and professionals with no credit score. The primary purpose is to provide financial assistance to students from authorized educational institutions in India.
A student can apply for a maximum loan amount of Rs. 20000. Unlike other personal loan apps, you do not even have to provide your salary slips to apply for a loan.
The interest rate starts from as low as 1% and can go up to 6% per month. Also, the loan tenure ranges between 61 days to 90 days.
- CashBean Loan App
Whether you are a salaried individual or a self-employed professional, you can apply for up to Rs. 60000 as a loan through CashBean to cater to your small-ticket needs. You can avail of facilities like minimum documentation, flexible repayment options, and quick approval. It ensures to credit the approved loan amount to your bank account within an hour.
The minimum loan amount you can borrow is Rs. 1500. You will have to incur a 2.7% interest rate every month. You will also have to pay Rs. 3000 as a processing fee, depending on the required loan amount.
Personal loan apps have revolutionized the loan industry. If you require funds to cater to an urgent need, the online loan apps in India can help you without putting any burden on your pocket.