Best Instant Loan App in India

Choose from the best Instant Loan Apps to for quick Personal Loans

Key Takeaways

Instant Loan Apps are developed by banks and NBFCs and registered with the RBI.
These apps offer unsecured Personal Loans with hassle-free loan application processes.
You have to upload scanned copies of the required documents to complete the paperless loan application process.
Enjoy instant credit of the loan amount into your account.
There are no end-use restrictions on the loan amount.

The fintech sector of India is rapidly booming. Today, you can conduct all kinds of banking transactions, from fund transfers to loan applications online. With Banks and Non-Banking Financial Institutions (NBFC) developing mobile apps, it has become far more convenient to access Personal Loans at your fingertips. Now you can download the best Instant Loan App in India on your internet-enabled smartphone. Here is all you need to know.

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Best Loan App in India – Features & Benefits

Paperless Documentation: With Instant Loan Apps involve paperless documentation, which means you can complete the loan application by submitting scanned copies of your PAN Card, age, identity, and address proof documents.
Collateral-Free: When you apply for a loan via an Instant Loan App, the lender approves your loan application without asking for collateral.
No End-Use Restrictions: You can use the loan amount to finance any contingencies or leisurely spends.
24*7 Availability: You can avail of funds from these apps 24*7, 365 days a year.
No Credit History: Few Instant Personal Loan Apps approve the loan without a credit score if you submit your bank statements.
Instant Approvals & Disbursals: Loans are approved quickly, and the loan amount gets disbursed into your savings account within minutes.

What Is the Best Instant Loan App In India?

The Best Loan App in India has the following attributes.

Clearly Mentioned Charges

The best apps mention the charges associated with the loan clearly, such as the loan processing, prepayment, EMI defaulting charges, and more.

Clearly Mentioned Loan Details

The best Instant loan app must indicate the minimum and maximum loan amount you can get, along with the potential repayment tenures and the applicable interest rates on the loan. You should not have to run multiple internet searches to find this information.

Clearly Mentioned Eligibility Criteria

You should be able to check whether you are eligible for the loan in seconds. The app should mention the age limits, the minimum net monthly income requirements and the type of people who may apply (salaried, self-employed, business owners, etc.)

Smooth User Interface

Another vital attribute of the best Instant Loan App in India is that it should be user-friendly. You should be able to download it easily from the app store and navigate through it comfortably so that you can complete the loan application seamlessly in minutes.

Access to Customer Care Helpline Service

The app should have a special section through which you can easily access the customer care helpline of the bank. With customer care details, you should be able to reach out to the bank for any necessary assistance regarding loan application and repayment process.

Conclusion

The best instant loan Apps like the DBS Bank mobile banking app make it incredibly easy to apply for Personal Loans. With such apps, you can access all the necessary loan-specific details. The app also allows you to load scanned copies of your documents, fast-track your loan application, and get speedy disbursals.

Download the DBS Bank mobile app on your smartphone. Launch the app and click on the "Get Personal Loan" link on the login page

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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.