Top 5 apps in India through which you can take personal loans

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To facilitate the process of personal loan application most lenders have their own mobile apps which help their potential customers get quick approval of loan application and credit tracking. Using a personal loan app can make it easier to apply for a loan instantly without visiting any bank. Let’s have a look at India’s top 5 personal loan apps.

  1. Finserv MARKETS App

You can get a personal loan with the Finserv MARKETS app to meet a wide range of financial requirements. This loan app offers an enhanced user experience to its customer and greater control over various aspects of money management. Finserv MARKETS App is quite easy and effortless to use. This app is an efficient and practical way of looking after your finances.

Terms of Personal Loan

  • With Bajaj Finserv Personal loan you get flexible repayment tenure with easy access to EMIs over a period of 12-60 months.
  • Their hassle-free online application process with minimal documentation of loan makes it an ideal choice for getting a loan.
  • Offering personalized pre-approved offers, instant approvals, and quick disbursal of loan, on the Finserv MARKETS App, you can get the most attractive interest rates on loans.
  • The app also lets you check your CIBIL score for free and also obtain a Financial Health Check Report (FHCR).
  • The Finserv MARKETS app has an inbuilt friendly BOT – YARA that offers assistance for all your account and payment related queries.
  • Indiabulls Dhani Loan App

Indiabulls Dhani supported by Indiabulls Consumer Finance Limited is the fastest digital loan fulfilment platform in India, which provides instant loan disbursal. Indiabulls Dhani provides loans that enable its customers to earn rewards along with their personal loan. You have an opportunity to reduce your loan EMIs by earning Dhani points which get converted into cash on every timely EMI payment.

Terms of Personal Loan

  • You can get a personal loan from rupees 1000 to Rupees 15 lacs at an affordable interest rate of 1% to 3.17% per month using the Dhani app.
  • No physical documentation is required for approval of your loan. All you need is to upload your documents through the app for verification.
  • Loan prepayment is also selected using the app which makes it easier for paying your EMI on time.
  • You can choose from the flexible tenure of 3 to 36 months for repayment of your loan.
  • LoanTap

LoanTap provides loans in the category of two-wheeler loans, flexible personal loans, lifestyle and celebration loans, home loans and lower instalment loans. Loan Tap provides customized loans to the customer according to their requirements. The process of applying for a personal loan is simple and requires minimal paperwork.

Terms of Personal Loan 

  • You can borrow any amount from rupees 3000 to 5 lacs transferred directly to the bank account.
  • They have a flexible loan tenure ranging from 2 to 36 months.
  • The interest rates are variable from 13 % to 24.3 % per annum.
  • You need to have a salary of Rs 20,000 or above per month to be eligible for a personal loan from MoneyTap.
  • PaySense

PaySense is a digital platform to get an online Instant personal loan based on the person’s risk profile. The KYC documents and loan bank statements are required to establish your eligibility for the loan. Once documents are approved, the loan is disbursed within 5 hours.

Terms of Personal Loan

  • An Indian citizen can apply for a personal loan from PaySense.
  • You must be above 21 years old and not above 60 years to get a loan from PaySense.
  • A self-employed person with monthly earnings of 15000 rupees and above can easily apply for a personal loan up to 5 lacs directly using the personal loan app.
  • There is a flexible interest rate applicable starting from 13 % per annum.
  • Nira

Nira offers a credit line up to rupees 1 lakh which you can use at any time and pay only for the amount used. Anyone with a monthly salary of rupees 12000 or above can apply for a credit line on Nira. You can choose from the flexible interest rate of 1.5 % to 2.5 % per month applicable only on the amount drawn for use from your approved credit line.

Terms of Personal Loan

  • You can take a loan ranging from rupees 5000 to Rupees 1 lakh instantly using the app.
  • You only have to apply once for approval of your credit line.
  • Once your Credit Line is approved you can withdraw any sum within the credit limit as and when required without any further need for approval.
  • You can choose from their flexible repayment tenure of 3 to 12 months.
  • Eligible for a loan you need to be working from the last 6 months and drawing a salary not less than rupees 12000 per month.