Online instant loan apps have been gaining tremendous popularity among borrowers in India for the past few years. Much of their popularity stems from features like quick approval, hassle-free documentation, and their 24×7 availability. Unlike traditional personal loans, instant loan apps enable you to access funds within hours after submitting your application for a loan.
Salaried and self-employed individuals can avail of personal loans through online loan apps and cater to all their financial needs without pledging their assets as collateral. There are numerous online loan apps available in the market, but which one serves your needs? Here are some of the most reliable instant loan apps that you can opt for to manage your finances without redeeming your savings or investments.
Some Reliable Instant Loan Apps Available in India
- Fullerton India Instaloan App
Fullerton India’s online loan app is not only quick and hassle-free, but a reliable platform to apply for a personal loan. Since the entire process of application is online, you can benefit from an easy documentation process. It offers quick disbursal of the approved loan amount to your registered bank account within 24 hours of approval.
The best thing about Fullerton India’s instant loan app is that you can apply for a loan from the comfort of your home or office. You can fill in your details, submit documents, and track your application status online.
Features of Fullerton India Instaloan App
|Maximum Loan Amount||Rs. 25 lakhs|
|Minimum Loan Amount||NIL|
|Loan tenure||12 to 60 months|
|Interest rates||Starts from as low as 11.99|
|Processing fee||0 to 6% of the loan amount|
|Disbursal||Within 24 hours of approval|
- Credy Loan App
Credy is known for its instant approval features. If you have provided accurate information and relevant documents, your personal loan application will get approved within 1 minute, making it one of the quickest online loan apps. You can check the buddy app to check your eligibility and ensure that your personal loan application meets the basic criteria.
Features of Credy
|Maximum Loan Amount||Rs. 1 lakh|
|Minimum Loan Amount||Nil|
|Interest rates||1% to 1.5% monthly|
|Processing fee||3% of the loan amount|
|Disbursal||Within 48 hours of approval|
- MoneyTap Loan App
MoneyTap is another popular online loan app in India that comes with a secured API to protect your sensitive information. You can avail yourself of a 0% interest rate EMI for shopping on Amazon and Flipkart for three months. The process of personal loan application is 100% online. It eliminates the need to visit any physical location. You can get your loan application approved within 4 minutes using the instant loan app.
Features of MoneyTap
|Maximum Loan Amount||Rs. 3 lakhs|
|Minimum Loan Amount||Rs. 3000|
|Loan tenure||2 to 36 months|
|Interest rates||1.8% monthly|
|Processing fee||2% on the loan amount|
- KreditBee Loan App
KreditBee is designed to serve young professionals with a stable income who need immediate cash without pledging their assets as collateral. There are generally three types of personal loans: Flexi personal loan, personal loan for salaried people, and online purchase loan.
The instant loan app is equipped with 128-bit SSL encryption to protect your personal data on the app. The sanctioned amount gets transferred directly to your bank account. The best part is that you can use the app to shop on Amazon, Flipkart, Bigbasket, etc.
Features of KreditBee
|Maximum Loan Amount||Rs. 2 lakhs|
|Minimum Loan Amount||Rs.|
|Loan tenure||62 days to 15 months|
|Interest rates||0% to 2.49% monthly|
|Processing fee||Rs. 130 to Rs. 850|
|Disbursal||Within 24 hours|
- MoneyView Loan App
MoneyView is popularly known as the money management online loan app. It tracks your expenses and helps you secure a personal loan of up to Rs. 5 lakhs. It is an online app that automatically reads the SMS alerts from your bank to help you manage your budget and keep track of all your expenses, using the built-in tracking system. It has a state of art security system which does not have your bank OTP and account number to protect your transactions.
Must Read: In What Situations Should You Apply For A Personal Loan?
Features of MoneyView
|Maximum Loan Amount||Rs. 5 lakhs|
|Minimum Loan Amount||Rs. 10000|
|Loan tenure||3 to 60 months|
|Interest rates||1.3% to 2.5% monthly|
|Processing fee||2% of the loan amount|
|Disbursal||Within 2 hours of approval|