In today’s fast-paced world, getting a loan from the “Fastest Instant Loan App“ has become very easy. If you also want to take a small personal loan to fulfill your needs, you can easily take it in the way we have mentioned.
You can get the required loan amount in your account by keeping some specific things in mind. You will get this loan at low interest and by doing KYC sitting at home.
You will not need to submit any documents manually.
Contents
- 1 Why should you use the Fastest instant loan apps?
- 2 Meet Your New Financial Lifelines: India’s Top Fastest Instant Loan Apps
- 3 How to apply for an Instant loan on Fastest Loan apps?
- 3.1 Step 1: Download and install the app.
- 3.2 Step 2: Registration and account creation:
- 3.3 Step 4: Fill out the application form:
- 3.4 Step 5: Complete the KYC process:
- 3.5 Step 6: Choose loan amount and tenure:
- 3.6 Step 7: Approval and Disbursement:
- 3.7 FAQ Related to Fastest Instant Loan Apps:
- 3.8 How quickly can I get a loan from an instant loan app?
- 3.9 What is the interest rate on instant loans offered by apps?
Why should you use the Fastest instant loan apps?
Remember the last time you needed money urgently? You must be aware that taking a loan from the traditional banking system takes a lot of time and paperwork, which is a cumbersome process.
Those days are gone forever. Your smartphone and the Internet have made raising extra money to fulfill your dreams easier.
Fintech companies have made it easy and convenient for every user to take through the Fastest Instant loan apps. Today, you can get the loan amount in your bank account within 1 hour without any paperwork.
Meet Your New Financial Lifelines: India’s Top Fastest Instant Loan Apps
We have listed the trusted apps that can provide you with the fastest, instant loan. All the companies are RBI-registered and assure you that your personal information is kept confidential.
| Apps Name | Loan Amount | Interest Rate (per annum) | Tenure |
| Poonawalla Fincorp | Up to ₹5 lakhs | Starting from 16% p.a. | 1 to 36 months |
| KreditBee | ₹1000 to ₹4 lakhs | 15% to 29.95% p.a. | 62 days to 24 months |
| Ring Power Loan | ₹20000 to ₹5 lakhs | 28% to 32% p.a. | 3 to 36 months |
| Fibe (Early Salary) | ₹5000 to ₹5 lakhs | 15% per annum onwards | Up to 36 months |
| Zype Personal Loan | Up to ₹5 lakhs | 18% to 39% p.a. | 3 months to 12 months |
| MoneyView | ₹5000 to ₹5 lakhs | 16% p.a. | Up to 60 months |
| Lendingplate Personal Loan | Up to ₹2 lakhs | Starting from 12% p.a. | 3 to 15 months |
| MPokket Personal Loan | ₹500 to ₹1000 | 24% to 48% p.a. | Up to 4 months |
| InCred Loan | Up to ₹3 lakhs | 16% to 18% p.a. | 3 to 60 months |
| Piramal Finance | ₹25000 to ₹5 lakhs | Starting from 12.99% p.a. | 3 to 60 months |
Benefits of Fastest Instant Loan apps in India
The fastest loan-providing apps have gained immense popularity due to the numerous benefits they offer to customers seeking instant financial assistance. Below are some benefits provided to customers that will help you choose the right lender.
Digital application process: Applying for a loan is fully digital. The user does not need to submit any documents manually. You can apply for a loan on instant loan apps with the help of your smartphone and the internet.
No Collateral Required: Instant personal loans are unsecured, so you don’t need to put up any assets as collateral.
Quick approval and disbursement: You learn about loan approval immediately after applying for a loan on these apps. After getting loan approval, the loan amount is transferred to the account within a few hours.
Pre-approved offers: Some apps offer their users pre-approved personal loans at lower interest rates based on their credit history and existing relationship, often including discounts on processing fees.
Transparency: Genuine lenders inform their users about all the charges, such as interest rate, processing fee, repayment period, etc., which helps the user in choosing the loan amount.
Eligibility Criteria for Fastest Instant Loan Apps
Instant loan approval depends entirely on the eligibility criteria. Eligibility criteria differ for each lender; below are some necessary criteria.
- Age: You must be above 21 years of age.
- Nationality: Must be an Indian citizen.
- Source of Income: It is necessary to have a source of monthly income so that you can pay the monthly EMIs on time.
- Credit History: Lenders check your credit report to know your creditworthiness. If your score is 700+, you can apply for a loan. A good credit score attracts higher loan amounts.
- Mobile Number Linked to Aadhaar: To do online KYC, you must have a mobile number linked to your Aadhaar card, which you must keep with you while applying for a loan.
Documents Required for Fastest Instant Personal Loan Apps in India
To apply for an instant personal loan, a borrower needs some necessary documents, which are listed below:
- Identity Proof: Any one of the documents – PAN Card, Ration Card, Aadhar Card, Voter’s ID Card, Driving Licence
- Address Proof: Any one of the documents – Aadhar Card, Passport, Voter ID Card.
- Income Proof: If you are applying for a higher loan amount, you must submit proof of regular income, such as a 6-month bank statement, salary slip, or income tax return. For a business loan, provide a 3-year balance sheet, registration certificate, CMA data, and more documentation.
How to apply for an Instant loan on Fastest Loan apps?
Applying for an instant loan is a simple process, You get the required loan amount in your bank account by following some easy steps:
Step 1: Download and install the app.
Download the application from Google Play Store by link and install the application.
Step 2: Registration and account creation:
After installing, open the app and register yourself by entering your Mobile Number and email ID so that your account is created on the app.
Step 4: Fill out the application form:
After creating the account, you will have to fill out the “New Loan” application form in which you will have to fill your PAN, Aadhaar number, employment status, residence proof, Bank Details, etc.
Step 5: Complete the KYC process:
After filling out the application form, you will have to complete the KYC process with the help of your Aadhaar, in which you will also have to take a selfie through the app.
Step 6: Choose loan amount and tenure:
Once the KYC process is complete, you can choose the loan amount and select the repayment tenure, then submit your application for approval.
Step 7: Approval and Disbursement:
After submitting your application form, you get the approval within a short time, and the loan amount is transferred to your bank account within a few hours.
FAQ Related to Fastest Instant Loan Apps:
How quickly can I get a loan from an instant loan app?
If you fill out the application form correctly, fulfilling all the criteria, then the lenders disburse the loan within a few minutes or hours. If you have a pre-approved loan offer, then you can get the loan amount within 10 to 20 minutes without any documents.
What is the interest rate on instant loans offered by apps?
Because instant loans are offered without the need for any security, you will usually find that their interest rates are slightly higher than what you would get from a regular bank. For starters, with most NBFC loan apps in India, the interest rate can range from around 13% to 30% per annum, depending on your profile. If you have a good financial history, you might get lucky with a pre-approved offer that comes with a kinder, lower interest rate.
