Best Instant Loan Apps In India 2021 You Should know

In this article we’re going to talk about some of the best Instant Loan apps in India !

Smartphones have become an integral part of our lives. Because of the smartphone, we can control the world in a way. With the advent of the Internet, life has become very easy and our smartphone can do many things in one click.

Be it entertainment, whether it is online shopping, studies or social media – Smartphones have made all our work easy. Now you can do all the above things from your smartphone sitting at home.

But have you ever thought that with the help of this smartphone you can also take a loan?

Whenever we talk about loan, the scene of banks, many documents etc. comes in front of our eyes, but you can also take loan with the help of your smartphone because nowadays many Instant Loan Apps have come into existence.

What is Instant Loan Apps?

There come many times in our life when we suddenly need money whether it is medical related expenses or marriage of a friend or to get our bike serviced. In such a situation, if we want to withdraw money from our banks, then it may take us some time and in case of not being near the bank or ATM, there is a loss of both time and energy.

In such a situation, the loan which we can get quickly without much documents, we call that loan Instant Loan. We have to do a lot of paperwork when taking loan from banks, but instead of them, the loan is obtained quickly and we do not even have to show any kind of our assets.

The mobile apps that provide this type of Instant Loan facility are known as Instant Loan Apps.

Features of Instant Loan Apps :

• These types of loans are of short term which can range from 62 days to 1 year.
• The loan amount can also range from around Rs 9,000 to Rs 3,00,000.
• You can apply for this type of loan from anywhere whether you do it from your home or your office.
• This type of application also usually gets approved on the same day.

What is the eligibility to apply for Instant Loan?

• To apply for Instant Loan in India, the first qualification is that you must be a citizen of India.
• Apart from this, you have the qualification of an employee in any registered company.
• The age of the person applying for the loan should be between 23 years to 58 years.

Apart from this, no special qualification is asked for and every person can apply for it, irrespective of his credit history.

Required Documents for Instant Loan :

• Identity Proof :- You can use Aadhar Card, PAN Card, Driving License or Passport as your ID Proof.
• Photo Proof :- A photo of yourself.
• Address Proof: – You can also use your passport or electricity water bill as this.
• Bank Statement: – You have to submit a bank statement which describes your salary.
• Salary Slips: – You will also need the slip of the latest salary received from your employer.

Best Instant Loan Apps in India :

Although there are many apps available that claim to give loans, but we will tell you about the 10 best apps here.

1.Instant Loan From MoneyTap :

MoneyTap is a famous app for taking Instant Loan, in which the whole process is paperless and you can take a loan of Rs 3,000 to 5 lakh within 5 minutes through this app.

• The loan available in this app is available without any guarantee. That is, even if you do not have any property, you can take a loan.
• In this, you can also take advantage of the changing interest rate on the amount borrowed.
• You will also get the facility of EMI at 0% interest rate for 3 months shopping on Amazon.

2. Instant Loan From Credy :

With the help of Credy app, you can also take an Instant Loan where your application is accepted in less than 1 minute and the loan amount is transferred to the customer’s account within 48 hours. It has always been the endeavor of the Credy app to simplify the loan process and meet the needs of the customers.

• In this, you get a loan up to Rs 1 lakh.
• Their customer support is very good.
• Referral bonuses are also available in this app.
• The interest rate is also flexible.

3. Instant Loan From EarlySalary :

Individuals whose salary is more than Rs 18,000 can take a loan of up to Rs 2 lakh with the help of EarlySalary app. Through this app, an attempt is made to provide loan facility to those people who do not have any kind of credit history.

If all your documents are ready, then you can take a loan within 10 minutes with the help of this app.

• 9 rupees per day you can get advance salary up to 2 lakh rupees.
• While shopping on platforms like Amazon, Flipkart or BigBasket, you can get EMI at 0% interest rate by using the EarlySalary limit.
• You can also pay with this app while paying for your holidays.

 

4. Instant Loan From mpokket :

mpokket mainly tries to provide loans to those people who are either college students or have just started working. With the help of this app, you can take loan which starts from Rs.500 without showing any other guarantee or proof of salary.

Students are also given a lot of flexibility while paying back so that they can make the payment comfortably.

• Here the loan is available within 24 hours of applying and you can take the loan money in your bank account or Paytm Wallet.
• If you want to take more loan in future then your credit history should be good in this app.
• If students want to take loan then their student ID will be required along with the loan documents.

5. Instant Loan From KreditBee :

Through this app, an attempt is made to provide loans to those people who have a good source of monthly income but sometimes there is a need for loan in urgent situation. You can take loan up to Rs 2 lakh through this. In this you get 3 types of loans – Flex Personal Loans, Online Purchase Loans and Personal Loans.

• You can take a loan from 6 days to 6 months.
• This app also has the facility of 128 bit SSL Encryption to protect the data of the customers.
• You can also use this app to shop from websites like Flipkart, Amazon.

 

6. Instant Loan From MoneyView :

With the help of this app, you can also take a loan up to a maximum limit of Rs.5 lakh. This loan tracks your expenses and here you can take a loan from 3 months to 60 months.

• You will have to pay 2.5% to 4% as the processing fee of the loan.
• The balance of other third party payments like Paytm can also be tracked through this app.
• Reminders related to Bill Payment are also sent to you through this app.

 

7. Instant Loan From LazyPay :

One of the best things about LazyPay app is that you can take loan from Rs.10,000 to Rs.1,00,000 with the help of very few documents through this app.

• Here you get a loan in just 3 steps.
• In this app you are also provided with 15 days free credit facility where you can shop on other popular apps.
• You also get a higher credit limit if you repay your loan on time.

 

8.  Instant Loan From PaySense :

With the help of this app, you can also take a loan by following the easy process. You can also use an Auto-Debit option for your EMIs in this app.

• In this, you can take a loan from Rs 5,000 to Rs 5 lakh.
• You can avail loan facility through this app within 2 minutes.
• The interest rate for the loan is 13% p.a.
• You can take a loan from 3 months to 60 months.

9. Instant Loan From CASHe :

Your credit profile is tracked using an algorithm in this app and with all the documents available, you can take a loan from this app in just 10 minutes.

 

• This app runs very smoothly and the process is very easy.
• You can take loan from Rs.9,000 to Rs.80,000 through this app.
• The interest rate in this app is also affordable and there is a lot of flexibility even while paying back.
• You can choose flexible loan options as per your choice.

10. Instant Loan From SmartCoin :

You can also take an Instant Loan through SmartCoin app. It is a Fintech company that provides loans ranging from Rs.1,000 to Rs.25,000.

• SmartCoin app is useful for all types of customers whether it is Salaried Employees, any type of Business Owner or people belonging to Stay-at-home category.
• This app does not have any kind of minimum salary related compulsion for the customers.

 

Conclusion :-

If you need money suddenly in your normal life and you do not want to get involved in the long process of banks, then Instant Loan apps are a boon for you.

You can take a loan in a few minutes with the help of your smartphone while sitting at your home and these types of apps are also very easy to run.

The way people got a lot of ease after Zomato started supplying food, similarly there are some apps where you can take a Instant Loan comfortably without falling in the bank’s argument.