Personal loans are your one-stop solution for any financial emergencies. They are not only available without any collateral but also the entire processing and approval is simple. Personal Loan also offers the borrower the freedom to use it as per their needs without any restriction on the spending.
Get Personal Loan From India’s Top Online Loan Apps
While earlier, getting a personal loan was difficult, as it came with a lot of extra effort and hassle. Now with the loan apps in India, this too has become easy. Now with just a click one can get a personal loan for any purpose.
However, before you download the app ad start applying, here are some tips that you must keep in handy.
Know Your Requirements
The first step to take a personal loan is to know your requirement. This will help you in making sure that you are neither borrowing in excess nor less. A higher loan amount may cause you excess financial burden as the interest rate on a personal loan is higher. At the same time, a lesser amount will not fulfil your need, making the borrowing useless.
Check the eligibility criteria:
Eligibility criteria are the basic requirements that an applicant must fulfil to get the loan. This is a necessary criterion but does not confirm your loan is approved. So, before you apply make sure to check the eligibility criteria like:
- The applicant must be between 21 to 60 years of age.
- The applicant must be a resident citizen of India.
- The applicant must either be self-employed or a salaried professional.
- The credit score of the applicant must be over 650.
All these criteria, especially the credit score determines the amount of loan you will get, the interest rate being charged and the loan tenure.
Loan Terms being offered:
Based on your income, age and eligibility different lenders will offer varied loan terms i.e the loan amount, interest rate and tenure. You must make sure of the terms being offered to you. This will help you make a better decision about the lender you want to choose.
EMI calculator:
Based on the loan terms, you can calculate the EMI that you have to pay monthly.
Choose the lender:
All the above factors are important, but the focus should be on choosing the best lender. A recognised lender which provides you with the best terms. Some of the lenders you can choose are listed below.
Instant Loan Apps In India
A good lender not only makes the entire process of application easy but also offers the best terms, minimum documentation, low processing fee and 24*7 customer service. Some of the best lenders in India are:
Fullerton India InstaLoan App:
With decades of experience, Fullerton India is the first choice of borrowers for a personal loan. It offers personal loans up to Rs 25 lakhs for all your emergencies. Along with this, Fullerton India has a market-driven interest rate and flexible repayment option, helping the borrower focus on the important aspects of life.
Install Fullerton India InstaLoan App for applying for a loan for both salaried as well as self-employed individuals who are looking for funds for a medical reason, vacation, business or education.
Early Salary Loan App:
Only for salaried professionals, who face month end crisis, Early Salary provides an instant loan of up to Rs 2 Lakhs. The loan amount for each individual is based on their salary, credit and risk profile. Early Salary also supports shopping credit. The loan is available for a tenure of 3 months and offers same-day loan disbursement for eligibility.
Money View App:
You can now get a loan of Up to Rs 5 Lakhs in just a few minutes with Money view App. The loan is available for 3-36 months and is available in over 500 cities in India.
CASHe App:
The winner of Entrepreneur India’s Best Tech Start-up for the year 2018, CASHe offers personal loans to salaried individuals with a salary of over Rs 15,000. The instant loans available are in the range of 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. The amount is disbursed in your bank account in just 10 mins of approval.
Conclusion | Get Personal Loan From India’s Top Online Loan Apps
These are top loan apps in India which can help you get the funds for your financial crisis. However, before you apply make sure to read the terms in conditions of the leader.