A mobile loan or money lending application is a one-stop solution to avail the loan amount at the time of your need. These applications save the borrowers’ valuable time and effort. This article aims at offering you an insight into the top 5 lending applications available in the market.
The emergence of the internet is playing a huge role in modernizing the world. Over the past few years, the popularity of loan apps in India has increased like never before. Loan applications have emerged as a great alternative to inefficient lending practices. They not only eliminate the trouble of submitting a lot of documents but also save a significant amount of your time. Today, a majority of the population prefers such loan applications for a hassle-free overall experience.
Here are the Top 5 lending Applications you can Consider:
- Fullerton India Instaloan App
Fullerton India is currently one of the most popular loan apps available in the market. The loan application is available both on the Android and iOS platforms. By using this application, one can apply for a loan of up to Rs. 25 lakhs within a few hours. On the other hand, you also get the option to choose the loan tenure between 12 to 60 months, basis for your convenience. Besides, the lower interest rate is definitely another plus for aspiring borrowers. As these are personal loans, you can finance the borrowed amount for several reasons, such as weddings, vacation, medical emergency, month-end crisis, etc.
- Bajaj Finserv
Currently, Bajaj Finserv is one of the leading lending platforms available in the country. Using its personal loan application, you can check your eligibility, apply for a loan, and complete the entire documentation process within a few hours. However, the instant approval feature seems to be the most significant advantage for Bajaj Finserv as it helps you get your loan approved within 24 hours of applying for it. The absence of any collateral, minimal paperwork and the organization’s pan-India presence has lead to the unprecedented popularity of Bajaj Finserv.
If you need a personal loan of a relatively smaller amount, PaySense is an option to consider. The lender is available in 43 plus cities across the country. By using its instant personal loan app, you can apply for a loan up to Rs.5 lakhs. Any professional who is earning more than Rs. 12,000 per month is eligible to apply for this loan. You can access your loan amount within 5 hours of document verification.
Through the EarlySalary platform, one can apply for a loan amount of up to Rs. 2 lakh. You don’t need any credit history to avail a loan from this platform. Besides, you will also get flexibility in the repayment period and can even opt for the EMI option as well.
- Loan Tap
You can apply for a loan between Rs. 1 lakh to Rs. 10 lakhs from Loan Tap application with minimal documentation. You will get a repayment period of up to 5 years to pay back the loan amount. The application is known for fast approval; therefore, most people opt for this app at the time of financial emergency.
Mobile loan apps are making the entire process of applying for a loan a lot easier. They save a lot of your time as well as effort. In fact, more people are expected to connect with such platforms in the future.