When you are in urgent need of a quick cash loan, or an emergency fund or are in short of cash, it can be awkward to ask your friends and relatives or may not be lucky to get enough advance loan on salary. Going to a regular bank or alternatively applying for credit card, might be time-consuming because it needs a lot of documentation or interest rates are extremely high. Thanks to technological advancement if you urgently need a quick cash loan some mobile applications(Apps) provide personal loan processes a lot easier and more convenient. This loan has no restriction of use where you can use it for multiple purposes like vacation, medical or wedding expenses, etc. Here we discussing 4 best loan app in India that are offering instant loan approval.
PAYSENSE is an instant money app that is Mumbai-based company founded in 2015. It is simple to use, transparent, and easily accessible.
Founder : Founded by Prashanth Ranganathan and SayaliKaranjka
Partner of Pay sense India’s leading NBFCs:
|Interest Rate||1.4 – 2.3%|
|Loan Amount||Rs. 5000 to 5 lakh|
|Processing Fee||2.5% of the loan amount|
|Late Fees||500 + GST|
|Applicant Age||21- 60 yrs|
CASHe is a digital lending platform that is founded in 2016 and offers short-term personal loans, especially for salaried people. Their main aim is to provide loans to middle-income young customers.
Founder : V Raman Kumar
|Interest Rate||2.25 to 2.50%|
|Loan Amount||Maximum 4 lakh|
|Processing Fee||1200 or 3% of the principal which is higher|
|Applicant Age||23- 58 yrs|
|Monthly Salary||Minimum Rs. 12000|
Dhani is formerly known as Indiabulls Consumer Finance Limited founded in 2017 and registered with RBI. The company is now offering comprehensive range of health care and financial service.
Founder of DHANI: Sameer Gehlaut (Chairman/CEO/Co-Founder, Dhani Services Ltd.)
|Interest Rate||11.99% p.a onwards|
|Loan Amount||Maximum 15 lakh|
|Processing Fee||Up to 5%|
|Applicant Age||21years and above|
Documents required to get loan:
Money Tap founded in 2015 headquarter in Bangalore. The company is registered with RBI. The company claimed to be India’s first online app to offer instant loans.
Founder: Bala Parthasarathy
The company offers loans for:
|Interest Rate||1.08% p.m, pay interest on usage amout.|
|Loan Amount||Upto 5 lakh|
|Applicant Age||23- 55 yrs|
|Processing Fee||1.99% + GST to 2% of the Borrowing amount +GST|
Read Also: | Best Health Insurance Plan in India 2022.
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