Many safe and secure money lending apps exist in India, with more than five crore users. It mainly offers instant credit within a few minutes, directly in our bank account, and we can easily avail of the loan without any paperwork or physical documentation. A borrower has to be an Indian national with more than 21 years of age and a steady monthly income.
Various Types Of Loans They Offer:
- Instant Personal Loan:
An urgent loan app offers Flexi personal loans with short reimbursement tenure of three months. Moreover, borrowers can take a certain amount of loan and apply for it online without any hassles. They need to provide address proof, salary proof, and a PAN card.
- Loans For Salaried Individuals:
An instant money app offers personal loans to salaried individuals for a flexible repayment tenure of three to twelve months. However, the loan amount is not more than three lakhs, and borrowers need to submit necessary documents, identity proof, and address proof during the loan application process.
- Loans For Self-Employed Individuals:
It offers a specific loan amount to self-employed individuals, primarily to fulfill business credit needs ranging from forty thousand to three lakhs with flexible tenures of a maximum of twelve months. Moreover, it allows users to apply online for an instant loan using income proof, identity proof, and address proof.
- Online Shopping Loans:
A loan app allows us to get instant loan approval to shop on our favorite e-commerce platforms, including Flipkart, Amazon, Myntra, Nykaa, MakeMyTrip, GoIbibo, Tata CLiQ, and more. It is straightforward to repay the loan amount in easy monthly installments at an affordable interest rate. The lending process is entirely online, and we have to upload a few documents to their platform to get the shopping loan in our bank account immediately.
- Credit Card:
We can also apply for a credit card for online shopping and purchases up to the total credit limit of ten thousand. Furthermore, a lending app allows us to withdraw the balance to our savings bank account for urgent fund requirements.
Why Should We Choose An Instant Lending Platform?
- A salary loan app ensures 100% digital processing; therefore, salaried individuals can get quick online loan approval and fast loan disbursal.
- It offers low-interest loans to fulfill all credit needs such as medical emergency expenses, consolidating debt, travel, online shopping, etc.
- We can avail of Flexi personal loans with minimum interest rates and flexible tenures. The loan approval process is dependent on our credit score, and we can repay the loan in simple EMIs through the virtual lending platform.
- Most loan apps provide online loans, ensuring complete safety and security. These platforms mainly work with RBI-certified NBFCs or banks that are always transparent and without hidden costs.
Nowadays, the steps to avail of a loan are straightforward, and we can always request a money transfer or e-voucher for our credit line. Moreover, a loan assist app has a tie-up with well-known lending partners. Some are IIFL Finance Ltd, AU Small Finance Bank Ltd, Western Capital Advisors Pvt Ltd, PayU Finance India Private Ltd, MAS Financial Services Ltd, etc.