Looking for a loan in India? This post is what you need. I'll be sharing with you the top 8 reliable loan apps in India.
Best Apps To Get Loans In India
1.Bajaj Finserv
The Bajaj Finserv Experia App is the one-stop solution for all post-loan or investment services provided by Bajaj Finserv, India’s most diversified non-banking financial company. Benchmarked against the best in the industry, the app comes with a clean, simple user interface, a design to deliver an excellent user experience and intuitive navigation.
Through the Bajaj Finserv Experia App, consumers can view or apply for preapproved and recommended offers customized for the consumers.
Bajaj Finserv app may collect information with your consent from your mobile device like device location, device information (including storage, model, installed apps, Wi-Fi, mobile network) transactional and promotional SMS, communication information including contacts to provide customized offerings
Here is what you can do with the new and improved app.
1. Active relations: View and manage your active loans and investments, make payments, download your financial statements on the go.
2. Previous relations: Access information on your closed loans and investments, view your statements and more.
3. Pre-approved offers: View pre-approved offers & details, get product information or request a call back.
4. Payments: Pay your EMIs, part pre-pay or foreclose your loans and access information on future payments through the app itself.
5. Drawdown facility: Drawdown functionality is now a lot more convenient than before.
6. Notifications: View all your payments, statement downloads and offer notifications on the home page under the notifications tab.
7. Raise a request: Log a request, check status and a more detailed view of previous requests.
8. Navigation across apps: Easy navigation across Experia and BFL Wallet
9. Rate us: You can review the app and rate us at just a click.
10. Other assets: You can navigate from this app to other Bajaj Finserv assets easily through the main navigation menu.
Also Read: 8 Websites To Get Finance For Your Business in Nigeria
2. Shubh Loan
Shubh Loans app is a digital lending platform which not only provides you loans for your personal needs but also generates your personalized credit report. The app gives you tips on how to improve your credit score and get approval for higher loan amounts.
To get a loan just follow these 6 simple steps:
1. Download the Shubh Loans android app and log in using Gmail ID
2. Complete profile information: Aadhaar, PAN, Online Bank Statement
3. Generate your free - Shubh Loans Credit Report
4. Apply for loan on the app
5. Get money in your account
6. Start paying EMIs from your salary account
Why Shubh Loans?
1. Get loans for all your personal needs including education, vehicle, business etc.
2. Easy access to credit from the comfort of your home
3. eKYC: Documents to be uploaded on the application
4. Get loans ranging from ₹25,000 to ₹5,00,000
5. Long term payment tenure of up to 4 years
6. EMI starting from ₹2,364 for a loan of ₹25k
3. Lazy Pay
Get Instant Personal Loans up to Rs. 1 lakh with LazyPay, through an easy digital process and minimal documentation.Avail instant online loans for 3 to 24 months, at affordable interest rates from 15% to 28%, depending on the EMI tenure and risk profile. A processing fee of 2% will be applicable on the amount withdrawn.
So, surprise your loved ones with festive gifts, go on that dream trip with your friends, buy yourself the latest smartphone or meet all your emergency expenses.
What is LazyPay?
LazyPay, powered by PayU, is the fastest way to get access to an instant line of credit online. Just enter your mobile number & discover your unique limit.
With quick approvals & secure online processing, LazyPay successfully disburses 1 million+ loans every month, by ensuring convenience to the consumer through our key offerings including pocket- friendly EMIs, Personal Loans and the option to Pay Later across 100+ of your favourite apps & websites.
How it works?
LazyPay extends a personalized limit to users through a simple process:
1. Sign up on the app & provide PAN details to check your eligible limit, instantly!
2. To activate your enhanced limit, submit your KYC details.
3. Then, complete your auto bill payment setup & done!
4. You can start using your enhanced LazyPay credit limit as an instant loan, convert to No cost EMIs on partner merchants or buy now pay later in One Tap!
EMI Calculation:
For a loan amount of Rs. 10,000 availed for a period of 6 months, at 18%* interest per annum, the EMI amount per month will be around Rs. 1755. We will charge a processing fee of Rs. 200 on the loan amount.
* Interest rate varies
Why choose LazyPay?
1. No Bank visits, LazyPay’s approval process is 100% paperless
2. Get 24X7 access to credit, anytime anywhere
3. Pay interest only for the amount borrowed
5. Collateral free instant personal loans online, for all eligible users
6. E Pay Later in One Tap at 100+ apps & websites, like Swiggy, BookMyShow, Airtel, HungerBox, Hathway, Ixigo & more!
7. Convert your high-value purchases into flexible EMI plans from 3 to 24 months with a single OTP checkout
8. Receive consolidated bills of all transactions and repay LazyPay on the 3rd & 18th of the month
9. Track purchases, bill payments & EMIs on the app
10. Transfer your available credit limit direct to your bank account or save for unforeseen situations.
Okay
4. ePayLater
ePayLater is a Buy Now Pay Later payment option which lets you make multiple purchases, and pay for all of them in one go on a later date. You get a 14 day interest free period from the date of order to clear your dues. ePayLater offers the simplest possible checkout experience in existence today. As you are not required to enter your 16-digit card number, or log in to your bank account or for that matter even refill your wallet, you can conclude your transaction with just a tap!. We eliminate the dependencies on any third party payment service providers such as payment gateways, banks etc. at the point of transaction, thereby providing an unmatched transaction success rate and security.
ePayLater not only provides the benefits of COD, such as a seamless checkout experience and a pay after delivery option, but also goes beyond by doing away with the hassles associated with handling cash. You are no longer needed to struggle to find change or worry about your order not getting delivered when you are not around to make the payment. On timely repayment, you get to choose from a list of tempting discount vouchers, which you can use for other purchases!
Must Read: 15 Ways To Be Financially Successful in 2019
5. Indiabulls Dhani
Indiabulls Dhani is an instant personal loan app which will make your personal financing needs easier than ever before. Get a personal loan, two wheeler loan, car loan, travel loan, marriage loan or medical loan instantly.
• Instant Personal Loan from ₹ 1,000 to ₹ 15 Lakhs
• Tenure: 3 months to 24 Months
• Interest rates ranging from 0.99% to 2.83% p.m. depending on the customer’s credit and risk profile
• Zero Foreclosure Charges on loans below ₹ 20,000
• Processing Fees up to 5%
With Indiabulls Dhani, you can avail:
• Personal Loan: With Indiabulls Dhani, one can fulfill any dream of travel or marriage or any other requirement with an unsecured instant personal loan or cash loans, as we provide easy and instant loan disbursals.
• Two Wheeler Loan: You can now get a loan for your Two Wheeler at the most attractive rates instantly. Indiabulls Dhani is a faster and simpler way to get an instant two wheeler loan online.
✔ Get 100% loan value for your two wheeler
✔ Get your accessories covered under the loan
✔ Get loan amount in your bank account even before visiting the bike dealer
✔ Choose a bike and dealer of your choice
✔ No need to pledge your bike against the loan (Hypothecation on Registration Certificate)
• Car Loan: You can now get a car loan at the most attractive rates instantly. Buy a brand new car or a used car, as per your convenience. Indiabulls Dhani is a faster and simpler way to get an instant car loan online.
✔ Get loan amount in your bank account even before visiting the car dealer or seller
✔ Choose a car and dealer/seller of your choice
✔ Any accessories or upgrades can also be covered under the car loan
✔ No need to pledge your car against the loan (Hypothecation on Registration Certificate)
• Travel Loan: You can now get a travel loan to make all your vacation dreams come true. Visit an exotic location or take a break, whenever you want with Indiabulls Dhani.
✔ Plan and take your holiday whenever you want
✔ No need to wait to save money for your travel plans
✔ Upgrade to better destinations instantly
• Medical Loan: Look after any medical need immediately. With Indiabulls Dhani, money will never be concern for medical emergencies.
✔ Look after any medical requirement
✔ No need to wait for insurance payment
✔ Use at any hospital of your choice
How does it work?
Download the Instant Personal Loan App - Indiabulls Dhani for free from Play Store/App Store and receive your personal loan instantly anytime, anywhere, in just 3 simple steps.
✔ STEP I – Enter your Pan Card and Address Details to verify yourself
✔ STEP II - Enter your desired loan amount and apply for a loan
✔ STEP III - Receive your loan amount in your bank account within minutes
6. Capital First App
Welcome to the Capital First app, your one stop solution for most of your financing needs. For existing customers of Capital First, this app eases most of your servicing needs such as loan account details, loan statements, raise customer service requests. You can easily see outstanding dues if any, & such outstanding EMI or overdues can be paid instantly using this app.
Just login into the app with your Capital First customer id & password & get access to host of features like:
- Check your Capital First Loan Account Status
- Calculate your EMI
- Pay your EMI online
- Raise a Service Request
- View Latest Offers
- Apply for Instant Loans
- Track your Loan Application
With Capital First, you can apply for the following loans:
- Business Loans: Apply for MSME loan from Capital First to meet your short term working capital needs, or long term loans.
-- Loan Against Property: Capital First’s Loan against Property allows you to borrow by mortgaging your property as collateral.
- Personal Loan: No matter what your financial needs are - unexpected expenses, a medical emergency, school or college admission; whatever the occasion, Capital First Personal Loans can help you meet your needs.
- Consumer Durable Loan (short term loans for <1 year, no prepayment or foreclosure charges) : Apply for EMI loans without a credit card with 0% interest & low down payment with Capital First.
7. Paysense
Install PaySense app to get an instant personal loan app within a few hours. PaySense has partnered with IIFL and Fullerton for disbursing personal loans.
Over 10,00,000 users have already installed the PaySense app to get a personal loan for medical emergencies, marriage expenses, buying two-wheeler, paying school and college fees, upgrading to new electronics, paying credit card bills, buying jewelry, for home decor, etc.
Taking a personal loan through PaySense’s instant loan app is super easy and quick:
1. Install the app and check how much loan you’re eligible for
2. Complete your KYC
- Selfie
- Address proof
- Identity proof
- Bank statement
3. Sign your application and get instant approval
4. Once approved, you will get the loan in your account within a few days
Loan FAQ:
1. What's the amount and tenure I can apply for?
- Rs 5,000 and 2 Lakhs
- 3 months - 24 months
2. How quickly can I get my loan?
As quickly as 3-5days
3. What are the interest rates on these loans?
Interest rates start at 16.8% annum. Interest rates depend on customers risk profile and loan tenure. For example, on a loan of Rs. 10,000 for 6 months your EMI will Rs. 1809 and the total interest you will pay is Rs.857
8. CASHe
CASHe is India's most preferred digital lending company for young salaried millennials. CASHe provides instant short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm based machine learning platform. Powered by its industry-first proprietary algorithm-driven credit scoring platform, Social Loan Quotient (SLQ), CASHe quickly determines a user’s credit worthiness by using multiple unique data points to arrive at a distinct credit profile of the customer. CASHe is completely automated and requires no personal intervention and no physical documentation. The average time taken for a loan to be disbursed is about 10 minutes, subject to proper documentation.
CASHe is the winner of Entrepreneur India’s Best Tech Start-up for the year 2018.
CASHe currently provides instant personal loans to salaried professionals with a minimum salary of Rs 15,000/-
What You'll Love
● Avail instant loans from CASHe through your smartphone
● Completely Digitized: Few documents to upload on the application
● Get instant cash loans from as little as Rs 5,000
● Gets loans ranging from Rs.5,000 – 50,000 for 15 & 30 days, Rs. 19,000 – 1,00,000 for 90 days & 25,000 – 2,00,000 for 180 days.
● Faster approval process with less documentation.
● Get collateral-free loans without any bank visits or phone calls
● Attractive rate of interests
● Flexi repayment methods.
● Loan disbursement in 10 minutes
● Multiple Repayment options: A choice of repayment options ranging from 15, 30, 90 and 180 days
● Multiple Loan Options: Choose from a variety of loan options from Rs 10,000 to Rs 2,00,000
Eligibility criteria
Minimum salary in hand: Rs 15,000/-
Documents required
● A Self Signed PAN Card, Aadhar Card
● Latest Salary Slip
● Updated Salary Bank Account Statement
● Any Address Proof (Current and Permanent)
● A selfie and a company id.
In Conclusion
I just shared with you the best 8 loan app in India. Kindly share with us in the comment box your preferred platform and also other loan applications that worked for you.
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