3 apps to consider when you need an instant loan


3 apps to consider when you need an instant loan

By Leandra Monteiro

March 09, 2022

  • Credit card
  • credit management
  • Credit score

People can now efficiently obtain funds at super low interest rates by applying for a personal loan through an app. Not only do these apps allow borrowers to submit a loan application online, but they also help them complete the entire loan process digitally in a viable way. These funds are unconstrained, so borrowers can use them for anything they want, including weddings, travel, medical expenses, and more.

Traditional banks take a long time to complete applications for loaning money, but India is changing its policies and standards and making it easier on how money is borrowed. With the use of fast personal loan applications in India, one can receive a personal loan within minutes. Also, applying for and disbursing personal loans has become much easier and faster through loan apps.

Here are some apps that can help you get instant loans:

SmartCoin: SmartCoin is a Bangalore-based consumer finance company that provides low-cost personal loans to underserved people in India. SmartCoin is a 100% digital organization with a nationwide loan disbursement network, serving 19,000 PINs across India. This app-based lending platform offers fast lending alternatives ranging from INR 1,000 to INR 1,00,000 pan-India scale with 100% automation.

Through the app, users can apply for a variety of purposes, including travel, shopping, and personal needs for small amounts, as well as small business microcredit. The company’s objective is to meet the credit needs of a large number of independent micro-entrepreneurs, micro-traders and employees.

CreditBee: This instant loan platform offers fast 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 offer three different types of loans: flexible personal loans, online shopping loans, and salaried personal loans. KreditBee charges a one-time service fee during integration. A small processing fee is charged for the loans.

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

ALSO READ: Global Loan Providers and Landscape Report Q4 2021

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