List of the best instant personal loan apps in India
1). Indiabulls Dhani – Dhani is a one stop shop for all your financial needs. You can get Instant Personal Loans, Credit Line and Wallet to manage all your payments. Also, earn Dhani Points for all transaction made on the Dhani App.
Personal loans are available from ₹ 10,000 to ₹ 15 Lakhs period ranging from 3 months to 36 Months. Avail loans at interest rates from 1.2% to 3% p.m*. and Processing Fees range from 1.5% to 6% only. Zero foreclosure charges on loans below ₹ 20,000.
2). MoneyTap – MoneyTap is India’s first app-based credit line. The best part is its no-usage-no-interest feature, which has made taking credit more affordable. It is a personal loan app that provides a line of credit to customers, which works as an instant loan or a credit card. interest rates starting from as low as 13-24.3% pa for 2 to 36 months duration.
3). PaySense – PaySense provides instant personal loans from ₹5000 to ₹500,000, with an Annual Percentage Rate (APR) on the loans between 18% to 36% (on a reducing balance basis) + a maximum of 3.5% processing fee on the principal loan amount. These instant loans are given for a duration of 3 months to 60 months. The standard processing fee is 3.5% of the loan amount. For example, a loan of ₹1 Lakh (₹1,00,000) for 24 months will typically have an APR of 24% (on a reducing balance basis) and a processing fee of 3.5% (₹3,500). This loan would be paid back in 24 EMIs (equated monthly installments) of ₹5,377 each with the total interest amount being ₹29,048.
4). Money View – Money View is the #1 Money Management App for automatically tracking your expenses, budgeting and getting an instant loan personal loan of upto Rs. 5,00,000. These instant loans are given for a duration of 3 months – 5 years (60 months).
The standard processing fee varies from 2.5% to 4% of the loan amount.
5). ZestMoney – ZestMoney is a consumer lending platform that helps you upgrade your lifestyle by providing you consumer durable loans. No credit card or CIBIL score is required. You can purchase products across Amazon, Flipkart, MakeMyTrip, Myntra, Mi.com, Mi Homes and 800+ merchants and payback in easy EMIs.
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