3 apps to consider when in need of an instant loan

By Leandra Monteiro

People can now efficiently get funds at very low-interest rates by applying for a personal loan via an app. Not only do these applications allow borrowers to submit an online loan application, but they also help them digitally complete the whole loan process in a viable manner. These funds have no constraints, so the borrowers can use them for anything they choose, including weddings, trips, medical expenses, and so on.

Traditional banks take a long time to complete money loan applications, but India is altering its policies and standards, and easing the way money is borrowed. With the use of rapid personal loan applications in India, one can receive a personal loan in minutes. Furthermore, the application and disbursement of personal loans have become much easier and faster because of lending apps.

Here are a few apps that can help get instant loans:

SmartCoin: SmartCoin is a Bangalore-based consumer financing firm that provides small-ticket personal loans to India’s underserved. SmartCoin is a 100% digital organisation with a loan disbursal network across the nation, serving 19,000 pin codes across India. This app-based credit platform provides quick loan alternatives ranging from INR 1,000 to INR 1,00,000 on a pan-India scale, with 100% automation.

Through the app, users can apply for a variety of objectives, including travel, shopping, and personal needs for smaller sums, as well as microcredit to small businesses. The company’s goal is to meet the credit needs of a large number of self-employed micro-entrepreneurs, micro-merchants, and salaried people.

KreditBee: This instant loan platform provides quick personal loans to self-employed and salaried professionals. Even if you haven’t taken out a loan or don’t have a credit card, you can use KreditBee loans. They provide three different sorts of loans: flex personal loans, online purchase loans, and salaried personal loans. KreditBee charges a one-time service fee while onboarding. A small processing fee is charged for loans.

MoneyTap: The platform allows both self-employed people and professionals to apply for a loan. They provide adjustable interest rates and currently operate in over 30 Indian locations. MoneyTap offers loans up to INR 5, 00,000 & pays interest on the exact amount you withdraw from your MoneyTap balance. For salaried employees only, the minimum salary should be INR 30,000 per month. You can use any amount from your available credit line to make UPI transactions directly from your Credit Line Interest rates starting from as low as 13% per annum.

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