21 November 2018, 02:21
The internet has revolutionized the way we live and almost everything we do, including borrowing money with the click of a button.
There are times when we are in dire need of money and applying for bank loans can take a long time.
To solve this problem, several fintech companies are now offering quick and easy instant loans in India.
Here are 5 companies that offer quick loans.
With MoneyView, get loans quickly and easily
MoneyView is one of the most popular platforms for instant loans. Customers can get loan offers within minutes of filling in their details; they can upload the required documents through the MoneyView mobile app.
They can get a loan of Rs. 10,000 to 5,000,000 disbursed within a few hours.
The loan term varies from 3 to 36 months with an interest rate ranging from 16 to 24% and processing fees of 2.5 to 6%.
Finance Buddha disburses personal loans online in 24 hours
Finance Buddha, a DSA (Direct Selling Agent) for major banks and NBFCs, offers quick personal loans called âInsta Loansâ.
Interested persons only need to submit KYC details online to get electronic approval, after which loans are disbursed within 24 hours.
The loan amount varies between Rs. 50,000 to 15,000,000 with a processing fee of 1.5-2% and a repayment term of 12-24 months. The interest rate ranges from 11.99% to 24%.
Monexo connects individuals who wish to borrow and lend money
Monexo is an online peer-to-peer lending marketplace that connects borrowers and lenders.
Borrowers must first register, upload the required documents and submit their loan application, which can be approved within a minute.
Loans are disbursed once they are funded by the lenders. The loan amount can vary between Rs. 50,000 to 5,000,000.
The repayment term can range from 6 to 36 months and the interest rate is 12 to 30% per annum.
Indiabulls Dhani provides instant personal loans up to Rs. 15L
India’s leading business group, Indiabulls, offers instant and easy personal loans through its Dhani platform.
Customers only need to download the app, apply for the loan, submit their contact details and required documents on the Dhani mobile app and the funds are instantly transferred to their account.
They can get loans from Rs. 1,000 to 15,000,000 with a repayment tenure of 3 to 24 months; interest rates start from 11.99%.
RupeeLend approves loan applications in minutes, transfers funds quickly
RupeeLend is another online money lending platform that offers quick loans and same day loans.
Eligible customers must first register before selecting loan amount and term. Then, they must submit personal information, proof of employment, bank details and other documents.
The loan amount can be between Rs. 10,000 to 1,000,000; RupeeLend charges 30% interest on a 30 day loan and there are no hidden charges.