Financial emergencies can arrive at any time and in any place with no prior notice. In such dynamic situations, there is a need for an instant solution that caters to diverse financial needs quickly. This is where personal loan apps with the fastest disbursal come into play. These personal loan apps offer instant approval of loans to individuals with urgent requirements, whether it is for medical expenses, education, emergency travel and much more. ]pkjb
With personal loan apps, unlike traditional banks, the loan approval process takes only a few hours or even minutes and minimal documentation. Yes, not only do these apps offer lightning fast disbursal, but they also provide convenience and flexibility of taking loans.
Top 5 Personal Loan Apps in India
We have mentioned some of the best loan apps that offer instant approval and disbursal directly into your bank account.
. Bajaj Finserv
Bajaj Finserv is a non banking financial institution that offers loans up to Rs 55 lakh with interest rates varying from 10%-31%. With a tenure payment of up to 96 months, individuals can manage their unexpected expenses with ease. With loan requests being approved under 5 minutes and amount getting transferred within 24 hours, this is one of the most trusted personal loan apps.
Eligibility
- Nationality – Indian
- Age – 21 to 80
- CIBIL Score – 650+
- Monthly Salary – 25,000+
Loan Disbursal – 24 hours
KreditBee
With the KreditBee personal loan app, individuals can enjoy a hassle free online loan approval process. KreditBee offers loans ranging from Rs 6000 to Rs 10 lakh with an interest rate of 12%-28.5%. The tenure period is up to 60 months and the best part is that those with a low CIBIL score can also explore loan offers tailored to their needs. Within a few minutes, people can easily get loans transferred into their bank accounts which makes KreditBee the best personal loan app in India.
Eligibility
- Nationality – Indian
- Age – 21 and above
- Monthly income – Rs 10,000 to Rs 25,000
Loan Disbursal – 5-10 minutes
. Fibe
Previously known as EarlySalary, Fibe is a lending platform that provides easy and quick access to personal loans within minutes. On Fibe, you can borrow loans from Rs 8000 to Rs 5 lakh with an interest rate of 12%-30%. With flexible EMIs, paperless process and repayment period up to 36 months, Fibe is the most suitable personal loan app for those in urgent need of financial assistance.
Eligibility
- Nationality – Indian
- Age – 19-55
- Monthly Salary – Rs 20,000
Loan Disbursal – 2 minutes
. MoneyView
MoneyView is a digital financial platform that helps people get financial aid within minutes, while also managing finances and tracking their credit behavior. It offers a personal loan up to Rs 10 lakh with a flexible tenure period up to 60 months. MoneyView offers 100% transparency in interest rates which range from 6% to 36% and simplifies the lengthy processes with just one tap.
Eligibility
- Nationality – Indian
- Age – 21 to 57
- CIBIL score – 650+
- Monthly Salary – Rs 25,000(credited into bank account is a must)
Loan Disbursal – 24 hours
- CASHe
CASHe is an instant loan app that provides loans for each and every financial need of individuals with a 100% online application process. Offering short term loans from 9 months to 1.5 years, CAHSe helps young salaried professionals ease financial tension and stress. Individuals can borrow loan up to Rs 3 lakh with a tenure period of 18 months and an interest rate starting from 9.9%. The loan amount can be transferred into an individual’s bank account within minutes.
Eligibility
- Nationality – Indian
- Age – 21 to 65
- Credit Score – 650+
- Monthly Salary – Rs 25,000
Loan Disbursal – a few minutes
Conclusion
These top personal loan apps, which offer quick disbursement of loans, have become a lifeline for people with financial emergencies. Offering instant solutions in a faster and paperless way, individuals can choose from any of these personal loan apps depending on their needs and eligibility. With competitive interest rates and tenure periods, these loan apps have simplified the loan approval process without the need of collateral.