List of Best Personal loan App in India

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It can be easy to apply for a personal loan or check the progress of your loan using a fast-lending app. Most instant loan apps will offer a user-friendly design that will make it simple for users to apply for a loan. The instant loan app also reduces the amount of time and paperwork required during the loan approval procedure. With the help of the given information, you can compare and select from the best personal loan apps available in India before availing of the loan.  

Personal Loan Interest Rate 


How does the user determine which is the best personal loan deal? As there is a lot to decide on the basis of the interest rate and end up choosing a not so convenient option. Yes, the interest rate is a very important aspect for the user that helps to consider. Other than the lower rates, the user needs to look for lenders that can lend more based on your income and repayment capacity. In India, the best personal loan apps offer interest rates at 9.05% up to 13.65% p.a. 


Best Instant Loan Apps in India 2021  


Although there are several personal loan applications available today, not all of them provide the same level of convenience and flexibility. Here's a rundown of the best loan apps or programs in India that can help you get a good deal on a personal loan. 

Loan Apps Name 

Interest Rate (per month) 

Loan Amount 

Money View app 

1.33% onwards 

Rs.5,000-Rs.5,00,000 

Dhani app 

1.16% onwards 

Rs.1,000-Rs.15,00,000 

MoneyTap app 

1.08%-2.03% 

Rs.3,000-Rs.5,00,000 

KreditBee app  

2%-3% 

Rs.1,000-Rs.1,00,000 

PaySense app 

1.08%–2.33% 

Rs.5,000-Rs.5,00,000 

 

Features and benefits of Instant Loan App  


Instant loan applications always help the user to avail the loan and get ample funds that you require with no or minimum paperwork. To avail of the loan, you need to check the features and benefits of personal loan apps. Here are some of the features and benefits of instant loan application:  

  • Instant cash credit: As mentioned above, the applicant can avail funds from these apps instantly within a few hours.  
  • Paperless: In the instant loan applications, as the user can apply for a personal loan online, you need to upload the documents online, for this online process there is no requirement of physical paperwork.  
  • Collateral-Free Finance: These applications provide funds with less requirement of collateral or security.  
  • No-End Usage Restrictions: As there are no-end usage restrictions on the use of funds that can be easily availed through the instant loan application.  
  • Available for 24x7: The application allows the user to avail funds for 24x7 at competitive interest rates.  
  • No Credit History Required: At last, the user doesn’t require any credit history or proof to provide a personal loan.  

How to apply through a personal loan app?  


For availing of a personal loan through instant personal loan apps in a quick and takes a few seconds for approval. You need to follow the steps mentioned below, to get a loan through these apps. 

 

  • Step 1: First, you need to register for instant personal loan applications such as PaySense, MoneyTap, and Early Salary.  
  • Step 2: Then, fill in the essential personal loan and bank details.  
  • Step 3: After checking your eligibility check, the loan amount will be approved.  
  • Step 4: Submit KYC and bank statement.  
  • Step 5: At last, after verification, the loan amount will be transferred into your bank account.  

Personal Loan App Eligibility Criteria  


For availing of the loan and getting funds easily, you must have the fulfillment of basic eligibility criteria which are listed below:  


  • Age Limit: The minimum and maximum age for availing of the personal loan from online loan applications is 21 years and a maximum of 60 years.  
  • Income Criteria: If you need to avail the funds from these applications, you should have a minimum income of Rs. 12,000. Some applications have requirements of income of the applicants.  
  • Loan amount: The loan applications provide the loan amount starting from Rs. 1,000 up to Rs. 10 lakhs respectively.  
  • Occupation: Both the individuals such as salaried and self-employed as well as professionals can be availed of digital loans from these apps.  

Essential documents required for Personal Loan Apps 


The personal loan applications provide instant loans to their customers with the help of the following minimum documents. With these points, you can get some generic ideas for availing the loan through the lenders:  

  • Aadhaar Card 
  • Passport size photograph  
  • Bank Statement and other details  
  • KYC Form 


Conclusion 


In this article, one can easily check the best personal loan app in India. You can compare and choose the best instant loan apps available in India when you require to get the eligibility check the eligibility. If you need to get more information for availing of the loan then, contact Afinoz and avail the information easily. You can also check the interest rates offered by the lenders.  

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