Best Apps To Take Personal Loan Online In India

 

The process of getting an instant cash advance in times of emergencies has been changed drastically in the past few years. With their growing online presence, instant loan apps have made it to the top of the list of preference when it comes to ease and convenience. 

The procedure for application & relationship management is very different and easy with online loan apps as compared to traditional banks. There are some basic pre-requisites like having a desirable CIBIL score, fulfilment of eligibility criteria which generally includes age, salary or citizenship etc.

Once these checks are passed, you can be sure of getting instant approval for your online personal loan.

Below are some Instant Personal Loan apps that we think might interest you -

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. 

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. 

Read Also - 6 Awesome Advantages of taking a Personal Loan

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. 

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.

 

App Name	Max. Loan Offered	Minimum Salary Needed	App Rating
Early Salary	5 Lakh	20,000/-	4.4
Bajaj Finserv	25 Lakh	25,000/-	4.3
Money Tap	5 Lakh	20,000/-	4.2
Tata Capital	25 Lakh	15,000/-	3.8
Kissht	1 Lakh	12,000/-	4.4

 

6 Awesome Advantages of taking a Personal Loan

If you are a salaried employee or a business owner, your financial needs can arise unexpectedly. You may have enough funds saved, but there are times when you need additional funds. Taking out a loan with a Personal Loan app might be a safe option in this situation. There are benefits to taking out this loan, particularly if your credit score is strong.

What is a Personal loan?

Personal Loan is an unsecured loan, which means you don't have to put up any assets as collateral. If you have a strong credit score, banks and financial institutions will be able to give you a lower interest rate on this loan. The repayment period will last anywhere from one to ten years. Personal loans may be used for almost anything, but some lenders may have limitations on how they may be used. Personal loan interest rates are fixed, so the rate will not adjust when you repay the loan.

Personal loan apps have some awesome advantages over other kinds of loans. The benefits of using this method of financing over other alternatives are mentioned below.

1.       Easy financing of up to Rs. 25 lakh

Personal loans apps from NBFCs and financial institutions will provide up to Rs.25 lakh in funding. The funds can be used for a variety of items, including home renovations, higher education, car purchases, and medical expenses. Companies like Bajaj Finserv offer an instant personal loan of up to Rs. 25 lakh at affordable interests and quick disbursal.

2.       Flexible repayment tenure

One of the advantages of a personal loan is the repayment period, which may be as long as 60 months. You also have the option of selecting a time based on your requirements. So you can choose a repayment tenure that best suits your needs.

3.       Multiple end uses

A personal loan app can be a good option if you need to finance a large purchase but don't want to be restricted with how you use the funds. Before applying for a loan, you should check the permitted uses with your lender. The money you get from this loan can be used for a lot of things. You can use a Personal Loan app  to finance any need, whether it's to support a foreign trip or to buy a gadget or for debt consolidation purposes.

4.       No collateral requirement

These loans are unsecured loans with no collateral. This ensures you won't have to put up your car, house, or other valuable as collateral to secure the loan. You'll face serious financial consequences if you can't repay the loan according to the conditions agreed upon with your lender. However, you do not need to be concerned about losing your home or car as a result of this.

Read Also - Best Personal Loan Apps for Emergency Cash

5.       Easy to manage

Consolidating debt, such as multiple credit card accounts, is one explanation why some people take out loans. A single fixed-rate monthly payment on a personal loan is simpler to handle than multiple credit cards with varying interest rates, payment due dates, and other variables. Consolidating all current loans is one of the easiest ways to use a Personal Loan.

6.       Quick disbursal

Lending companies like Bajaj Finserv disburses personal loans within 24 hours of approval. This quick loan disbursal process makes these loans ideal for medical and other emergencies. You can apply with their personal loan app. You could find yourself living salary to salary, with no money set aside for savings. Rather than waiting for an emergency, it is preferable to take out a loan to build an emergency fund in this situation. Whether it's for medical bills or a last-minute holiday, getting a rainy day fund is always a smart idea. Quick disbursal helps in such situations.

 

 

Features and benefits of a Credit Card

Credit cards are a safe bet when it comes to balancing your last-minute finances. They are a financial instrument that allow you to borrow funds up to a pre-approved limit from both banking and non-banking institutions to help you handle your finances. Many people see it as a liability or a way to accumulate debt. When used with caution, however, the advantages will outweigh the drawbacks.

What is a credit card?

It is an offering by the financial institution that allows the borrowing of funds from a pre-approved limit for your finances. The credit limit is decided by the institution supplying the card based on your credit score. Higher the credit score, the more your credit card limit will be. The repayment of the amount borrowed should be done within the stipulated time to avoid penalty charges.

 

What are some of the features of a credit card?

The features of a credit card include:

• 1.       Easy and comfortable transactions
• 2.       Convert your purchases to EMIs
• 3.       Win reward points and cashback
• 4.       Easy approval
• 5.       Secure payments
• 6.       Tailored card limit

 

What are some of the benefits of a credit card?

With the emergence of many mobile apps, you can use your online credit card for your transactions. When you walk out the front door with wads of cash, you're an easy target for thieves. Carrying cash in an age of digital wallets isn't ideal. Instead, a credit or debit card would be more realistic.

·         Helps build your credit score

·         Earn reward points on transactions with credit card

·         Increases your purchasing power

·         Avail emergency personal loan

·         Convenient repayment window

·         Hassle-free EMI conversions

 

1.       Helps build your credit score

If you want to borrow money, you'll need a credit score, which is based on your financial activity history. Your credit card background contributes to these ratings. On several levels, using your card wisely is beneficial to your financial health. To begin, disciplined credit use, which involves spending less than 40% of your credit limit and paying your bills on time and in full, will help you improve your credit score.

2.       Earn reward points on transactions with credit card

Many banking and non-banking institutions also offer Rewards Points to their users for spends on the credit card. You can choose cards with point or reward structures that suit their lifestyle and spending habits to get the most out of these benefits. You can see the list of advantages or perks offered on the credit card app of the lender. You also can check the expiration of the rewards on the mobile app. You can use these reward points to get discounts on your purchases and thus save money.

3.       Increases your purchasing power

By using the credit card and paying later, the card issuer provides the user with a pre-approved spending cap. Individuals' buying power is increased as a result of their use of cards. Large purchases, such as luxury goods for the home, are easier to make with a card with a higher cap. It can also come in handy during emergencies. A card with a high limit comes in handy in situations where major payments must be made up front, such as an unexpected hospitalization.

Read Also - Top Advantages of Using Credit Card

4.       Avail emergency personal loan

Companies like Bajaj Finserv offer an instant emergency advance with your credit card on your pre-approved credit limit. You can get a Personal Loan on your cash limit with a nominal interest rate of up to 1.16% without processing fee charges with your Bajaj Finserv co-brand credit card. You can check for other offers by the company on the online credit card.

5.       Convenient repayment window

Most online credit card companies offer a no-interest loan for up to 30 days. Different to debit cards, they do not immediately deduct the amount from your savings account. It comes with a grace window of up to a month for easy repayment. This can prove to be beneficial when dealing with financial inadequacies and dealing with emergencies.

6.       Hassle-free EMI conversions

You can easily convert your big purchases into easy EMIs which can be repaid over a flexible range of selected tenure. Also, most financial institutions offer an option of no-cost EMI, so you do not end up paying extra or surcharge on your purchases. This is done to aid in the repayment of your big-ticket purchases

Also, many companies offer consumer protection on their card to protect against accidental damages and theft. There are many companies offering sign-on bonuses on an online application that can be redeemed later for your purchases. It can come in handy when paying for your monthly expenses, grocery, bills and more.

 

Best Personal Loan Apps In India

Financial crunches come unexpectedly, and not always are we prepared for it.

The process of getting an instant cash advance in times of emergencies has been changed drastically in the past few years. With their growing online presence, instant loan apps have made it to the top of the list of preference when it comes to ease and convenience. The procedure for application & relationship management is very different and easy with online loan apps as compared to traditional banks.

There are some basic pre-requisites like having a desirable CIBIL score, fulfilment of eligibility criteria which generally includes age, salary or citizenship etc. Once these checks are passed, you can be sure of getting instant approval for your online personal loan. The online loan apps come in handy as they allow you to view and monitor all your loan-related information at anytime, anywhere even on holidays. Unlike banks, which are available for customers only in stipulated timings, apps are available 24 x 7. Hence, they are becoming more popular.

Below are some Instant Personal Loan apps that we think might interest you -

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. 

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. 

Read Also - Tips To Choose Best Personal Loan For Us

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. 

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.

To conclude, we might suggest Bajaj Personal loan app or Tata Capital are affordable options to look for when you think of availing an instant Personal Loan for urgencies.

 

App Name	Max. Loan Offered	Minimum Salary Needed	App Rating
Early Salary	5 Lakh	20,000/-	4.4
Bajaj Finserv	25 Lakh	25,000/-	4.3
Money Tap	5 Lakh	20,000/-	4.2
Tata Capital	25 Lakh	15,000/-	3.8
Kissht	1 Lakh	12,000/-	4.4

 

 

 

Best online utility bill payments apps in India

 

The way in which we pay our bills for utilities has undergone a massive upgrade in the past few years. We no longer need to go to the administrative offices, stand in a queue and wait for our turn to pay bills. The fast-growing digitization has led us into a comfort space of mobile apps specially created to serve as a medium through which to pay bills for various utilities in our day to day life.

What are the bill payment apps?

Bill payment apps are mobile applications that act as a medium through which you can pay bills, recharge your phone, DTH, OTT subscriptions, transfer funds etc. These apps have made it extremely convenient to pay bills anytime, anywhere. Especially in the pandemic, these apps have made it possible to transact easily & quickly from the comfort of the 4 walls of your home. You do not need to step out for paying any bill.

Which apps are good for paying utility bills?

The internet is flooded with apps that can be useful for paying utility bills, making payments etc. But we must carefully choose our options as it involves monetary transactions and we must be mindful of the security & user experience of the app. Below are a few options that you can look for if you want an app for online payment of utility bills –

Paytm – Paytm is one of the earliest apps to enter the bill payment’s realm in India. It has gained popularity steadily ever since and is still growing. The app offers services like money transfer, mobile and DTH recharges bill payments for utilities etc. It also allows you to buy and sell digital gold (24K). It comes with additional features like travel and hotel bookings, online shopping etc.

Bajaj Finserv App – Bajaj Finserv App comes with a host of premium features for its users. You can make payments for utility bills like electricity, water, LPG etc with great ease. The bill payment app also allows you to recharge for DTH, mobile, OTT subscriptions etc seamlessly. You can view and download payment receipts, access past transactions and manage your accounts online. The app is available in 14 different regional languages so that users can view the app in the language of their choice.

Read Also - Advantages of Online Bill Payment

PhonePe – PhonePe app is another great option to pay for your utility bills instantly. It also allows you to make payments for offline and online stores seamlessly. The recharge facility of the app includes Mobile, DTH and OTT recharge for all top operators like Jio, Vodafone, Airtel, Idea, etc. Users can also transfer money with BHIM UPI to anyone, anytime, anywhere. The app offers other products like insurance, buying and selling 24K gold, mutual funds, and partner apps of other brands under ‘PhonePe switch.’

MobiKwik – MobiKwik is a popular payments app among the masses. It is a platform through which you can make utility bill payments for over 200+ billers. You can pay for electricity, water, LPG, prepaid and postpaid mobile recharges etc. Users can also transfer money using MobiKwik seamlessly. It also offers offline QR payments at its partner outlets. Users can order groceries, medicines, food, gadgets, etc very easily. The app also offers instant loans at affordable rates.

Freecharge – This is one of the preferred apps by people when it comes to utility bill payments. Freecharge has its own set of unique offerings apart from utility bill payments. It offers its users mutual fund, loans, Express FD, Google Play recharges etc. One can avail best deals from top brands for movies, entertainment, food, shopping etc. Users can also buy digital gold through Freecharge.

PayZapp – PayZapp is the payments app developed by HDFC bank to facilitate the need for recharge and payments of its users. It is the one app for user’s many needs. One can pay for utilities, recharge mobile, DTH, etc, shop online and much more with the PayZapp app. It also enables money transfer and has exclusive partner offers for its customers.

 

App	Rating
Paytm	4.4
Bajaj finserv App	4.4
PhonePe	4.4
MobiKwik	4.2
Freecharge	4.1
PayZapp	3.9

 

How and Where Can I Apply for Bajaj Finserv EMI Card

 

Whenever you go on a shopping spree, there are various methods of payment you can opt for including credit card, EMI card, cash or online transfer. EMI card is an instrument which is most affordable and a convenient instrument of all. Majorly because you can buy things you need easily at no-cost EMI.

EMI cards have a pre-approved loan amount on the card which can be used to convert purchases of high value into no-cost EMI. You cannot exceed the limit of your EMI Card. This is an affordable and preferred choice of moderate-income groups as they can easily buy things at no-cost EMI.

Therefore, EMI card seems to be a better mode of payment rather than a credit card as it does not charge huge rate of interests. Although a credit card can earn you reward points or offers but that does not account for the extra interest that you would pay for making any purchase through it.

You can easily apply for a Bajaj EMI card online using the Bajaj Finserv App. Follow the steps below if you want to apply for it –

1) Download the Bajaj Finserv app from PlayStore or App Store

2) Register on the app using your mobile number and OTP

3) Login using your credentials like MPIN

4) Go to the pre-approved section and check if you have an EMI Card offer

5) If you have the offer, click on ‘Apply Now'

6) Fill in some basic details and pay the card fee.

How to apply Offline?

You can apply for the Bajaj Finserv EMI network card offline as well. Here are the steps to follow –

1. Visit one of the Bajaj Finserv EMI network stores

2. Fill the Bajaj Finserv EMI network card application form

3. Submit your KYC.

Once validation is successful, you will receive a User ID and Password for the Bajaj Finserv Experia Portal, where you can easily check the status of your application.

Read Also - Top Emi Card In India

Benefits of the EMI Card –

1) Online shopping without a credit card – Now you can shop online on EMIs using the Bajaj Finserv EMI card. Shop from the latest range of electronics, home appliances, gadgets etc without having to use your credit card.

2) Pre-approved loan – This exclusive EMI card comes with a pre-approved limit of 1.5 lakh which can be used to convert your purchases into easy no-cost EMIs. It makes online purchases simple and convenient.

3) Offline Shopping – You can use the Bajaj Finserv EMI card not just for online shopping but also for offline shopping at partner stores. You can choose from 1 million+ products from 84,200+ partner stores spread across the country.

4) Offers & perks – The Bajaj Finserv EMI card has exclusive offers on electronics, home appliances, gym equipment, gadgets etc. You can also get holiday packages upon buying select products from the partner stores.

5) Holiday packages – You can stand a chance to win exciting holiday packages upon buying select products using the Bajaj Finserv EMI network card.