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 |
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