A personal loan is an easy method of
tackling immediate needs or sudden expenses. There are numerous Personal Loans apps online that
offer to assist you by providing instant disbursal of funds with as few
documents as possible. However, not all apps are equally efficient because each
one of them has a different loan amount to offer, have varied ranges of minimum
salary requirement etc. Below are some of the most popular instant personal
loan apps that you can look for while applying for an urgent personal
loan.
Kissht – This is a budding NBFC that is evolving rapidly as an instant Personal Loan app. Started in 2015, Kissht has gained popularity in the lending business for its easy accessibility. It offers Personal Loan up to Rs 1 lakh. It has the lowest salary pre-requisite of Rs. 12,000/- & age of the applicants should be 21 years and above. However, a low amount of funding is one of the cons of this application. To sum up, Kissht may have the easiest criteria to fulfil but it has a very less amount to offer as a loan to its customers.
Bajaj Finserv – The Bajaj Finserv app is a multi-lingual platform that caters to the diverse financial needs of the Indian consumer. Online Personal Loan from Bajaj Finserv starts at a rate of 12%. You can avail financial assistance up to 25,00,000 easily upon fulfilling the eligibility criteria. You must fall into the age range of 23 to 55 years & your CIBIL score should be more than 750. Bajaj Personal Loan app can be a viable option for the masses as its scope is pan-India and not just limited to a few cities. The fund disbursal process is quick & easy with a requirement of minimal documents.
Money Tap – This platform too is quite recent in the lending market and has some promising features too. Money Tap offers online Personal Loan starting from Rs 3000/- to up to Rs 5 lakh. You must be in the age range of 23 to 55 years & have a monthly income of a minimum of Rs 20,000/- This app provides financial assistance only in a limited number of cities which can hinder its reach and popularity. To conclude, the app has limited funding to offer & is selective about the area in which it operates.
Tata Capital – Tata Capital is the financial services & lending arm of the Tata group. Operating since 2007, this platform offers a variety of financial products. Personal Loan from the Tata Capital app can be availed at an interest rate starting at 11.25%. You can get funds up to Rs 25 lakh instantly upon the fulfilment of the eligibility criteria. It needs the applicants to have a minimum work experience of at least 1 year. The monthly take-home salary to avail instant Personal Loan from this app is a minimum of Rs. 15,000/- & age range should be between 22 to 58 years.
Early Salary – Founded in 2015, Early Salary is a new entrant in the lending business. The app is specially designed for salary advances and Instant Personal Loan. It lends financial assistance up to 5 lakhs to salaried individuals at an interest rate of 30% per annum. Other eligibility criteria include the age of the applicant; which should be at least 21 years & it requires applicants to have a minimum salary of at least 20,000/- to avail a Personal Loan. It only lends Personal Loan in select cities of India and this can be one of the drawbacks of the Early Salary app.
|
App Name
|
Max. Loan Offered
|
Minimum Salary Needed
|
Minimum Age Needed
|
|
Kissht
|
1 Lakh
|
12,000/-
|
21 Years & above
|
|
Bajaj Finserv
|
25 Lakh
|
25,000/-
|
23 to 55 Years
|
|
Money Tap
|
5 Lakh
|
20,000/-
|
23 to 55 Years
|
|
Tata Capital
|
25 Lakh
|
15,000/-
|
22 to 58 Years
|
|
Early Salary
|
5 Lakh
|
20,000/-
|
21 Years & above
|
No comments:
Post a Comment