When emergencies strike, you may need instant funds. At such times, going to the bank will only create a mess instead of providing a solution. This is because the processing time of loans from banks can take a longer time. Luckily, plenty of personal loan apps are available, and instant funds can be at your doorstep with a click of a button. In this blog, you can find some of the best personal loan apps, their features, and how you can pick one that best suits you.
Personal loans are unsecured loans, making them ideal for various situations. The advancement of technology has made banking and getting personal loans more convenient. Over the years, many personal loan apps have emerged, making borrowing and lending more accessible to many people in need. Read on to find out the best apps and their features.
One of the best personal loan aggregators is Buddy Loan. You can get loans at a low-interest rate of 11.99% from its lenders. They also have a mobile app, which you can download to gain more insights about how the app works. Click here to download the app now.
What are the best personal loan apps?
Some of India’s best apps for personal loans are:
- Buddy Loan: Buddy loan is one of the most trusted aggregator platforms for finding the right lenders for a personal loan. With the lenders from buddy loan, you can borrow a maximum amount of Rs 15 lakhs. It also has an approval rate of 80%. Some of the key features of Buddy Loan are:
| Interest Rate | 11.99%p.a |
| Minimum monthly income | Rs 15,000/- |
| Age requirement | 18-60 years |
| Tenure | 6-60 months |
| Pros | No hidden or pre-payment charges. |
- Paysense: Paysense is the best as it is the fastest instant loan app. It is best known for quick loan approvals. They offer personal loans, which you can take for a maximum amount of Rs 5 lakhs. The lenders also offer low EMI plans making repayment easy. Some of its features are:
| Interest rate | 1.4%-2.3% p.m |
| Minimum monthly income | Rs 18,000 |
| Age requirement | 21-60 years |
| Tenure | 3-30 months |
| Pros | No salary slip required |
- Induslnd Bank: Borrowing has been made easier with Indus easy credit personal loan with their simple four-step online process to get the necessary funds that you need. You can easily get a personal loan of up to Rs 5 lakhs with IndusInd Bank. Some of its features are:
| Interest rate | 10.49%p.a |
| Minimum monthly income | Rs 25,000 |
| Age requirement | 21-60 years |
| Tenure | 12-60 months |
| Pros | Processing fee of only 3% |
How to choose the best app?
It is easy to be lost in a sea of online applications offering an array of services. Knowing how to choose the best one that fits your requirements will be quite helpful. Below are some tips and tricks on how to pick the right app:
- Check the credibility of the online application.
- Check for hidden charges. An app must be transparent about its transactions.
- Go for an app that offers quick approval.
- A good application must have good repayment options.
- Make sure your requirements align with the offers given by the lenders.
In conclusion
Choosing the best app will come with a thorough understanding of the features they provide and a clear understanding of what you need. Visit the websites or contact customer support to learn more about what each application offers.
Feel free to contact Buddy loan if you have any queries or questions at info@buddyloan.com.