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Looking for an Rs.20,000 loan quickly? Here are some of the best options available in the market:
- Bajaj Finserv Personal Loans
- MoneyTap
- IndiaLends
- Earlysalary
- Credy
- Kreditbee
- Cashbean
- Nira
- PaySense
- LoanTap
These are some of the top instant loan apps in India. They will give you instant loans starting from as low as Rs.1000 and up to Rs. 10 lakhs.
How To Apply For Instant Loans?
Most of the instant loan apps are completely online. You have to log in to the lender’s website, enter your mobile number, name and PAN details. The loan is processed and approved in minutes. The loan amount is also credited to your account instantly. These loans can come in handy when you are in dire situations and need immediate cash.
Documents Required
The only documents you will need is your PAN card, that too just a soft copy. Some apps will ask for your Aadhaar number for authentication. That is all! No need for pages and pages of application forms to be filled, photos, ID proof, address proof, salary slip, none of that is required.
Eligibility Criteria?
These loans are mostly based on your monthly salary and credit score. They don’t have other stringent eligibility criteria.
Points to remember:
- Instant loans are helpful in times of urgent cash requirement
- They come with repayment tenures that range from 30 days to 12 months
- Interest is charged on a monthly basis which starts from 1% per month
- They have very high processing charges; somewhere around 2.5% of the loan amount
Make sure to compare interest rates, processing fees and other charges to find the best instant loan option for you.