Top 5 Personal Loan Apps in India: Some apps are very popular for getting instant loans of Rs 50,000 or more in India, which provide loans at low interest rates and with fast approval. Bajaj Finserv is one of the top applications, which facilitates fast loan application and low interest rate on amounts above 50,000. PaySense is also great for people who need a low salary loan, and it offers a paperless approach and fast processing. MoneyTap offers a line of credit, where users can use flexible payment options to avail loans of up to Rs 50,000. CashBean is a popular application especially for instant loans, which provides pace-free and fast loan application. It transfers money immediately after approval. Finally, EarlySalary provides fast and easy loans to users, especially for those who need money immediately. All these apps provide an easy way to get loans with low interest rate, paperless and fast processing.
Top 5 Personal Loan Apps in India – Highlights
| Name of the application | Loan amount | Interest Rate (General) | Time of loan approval | specialty |
|---|---|---|---|---|
| Bajaj Finserv | More than 50,000 | 10%-20% | 24 to 48 hours | Fast loan, paperless process, flexible payment options |
| PaySense | 50,000 to 5 lakhs | 12%-30% | 24 hours | Low Salary Loan, Fast & Paperless Application |
| MoneyTap | 50,000 to 5 lakhs | 13%-24% | 3 to 4 days | Line of credit, flexible payment options, two-to-one fast loans |
| CashBeans | 10,000 to 5 lakhs | 18%-30% | 1-2 hours | Instant Loan, Paperless, Instant Money Transfer |
| EarlySalary | 10,000 to 5 lakhs | 13%-24% | 24 hours | Paperless, fast approval for monetary emergencies |
Eligibility and Criteria
Eligibility & Criteria for reliable personal loan applications generally depend on some specific premises. Here are the general eligibility criteria for top loan applications in India:
Bajaj Finserv
Eligibility :
- Indian citizen
- 21 to 60 years of age
- SELRED EMPLOYEE, FREELANCER OR BUSINESSMAN
- Salary record and credit score (700 or higher)
- A minimum income of Rs 25,000 per month (for salary earners)
Criteria :
- Depends on your credit performance
- Proof of Documents (ID, Address Proof, Income Proof)
PaySense
Eligibility :
- Indian citizen
- 21 to 60 years of age
- Salaried EMPLOYEE or Self-Employed
- A monthly salary of Rs 20,000 to Rs 50,000 (for salaried employees)
- Good credit score (650 to 750)
Criteria :
- Age, income, and credit report evaluation
MoneyTap
Eligibility :
- 23 to 55 years of age
- Indian citizen
- Cellrid EMPLOYEE, Freelancer, Businessman
- Minimum income 20,000 rupees per month
- Good credit score (700+)
Criteria :
- Quick online verification for eligibility
- Must provide online documents (Aadhaar, PAN Card, Income Proof)
CashBean
Eligibility :
- Indian citizen
- 21 to 58 years of age
- Salaried, Employed Persons, Self-Employed
- 15,000 to 30,000 rupees monthly income
- Good credit score (600+)
Criteria :
- Examples related to employment or business (salary letter/business document)
- Credit report to verify eligibility
EarlySalary
Eligibility :
- 21 to 55 years of age
- Indian citizen
- Salaries, Pay-Pay Approval, Business Holder
- 18,000 to 25,000 rupees monthly income
Criteria :
- Credit score, income, and job verification
- Required Documents: Aadhaar Card, PAN Card, Income Proof
General Eligibility Criteria :
- Age : 21 to 60 years (may vary as per application)
- Income : Generally, a monthly income of Rs 20,000 to 50,000 is required.
- Credit Score : A credit score of 650 to 750 or above is usually required.
- Documents : Aadhaar Card, PAN Card, Income Proof, Address and Identity Proof.
How to use Top 5 Personal Loan Apps in India?
- App Download : Download the app from Play Store or App Store.
- Register/Login : Register with your mobile number, email and Aadhaar.
- Apply for Loan : Select your income, loan amount and payment model.
- Document Upload : Upload Aadhaar Card, PAN Card, Address Proof, and Income Proof.
- Loan Approval : After eligibility verification, get loan approval and immediate transfer of loan.
Conclusion
To conclude , the top 5 personal loan apps in India — Bajaj Finserv , PaySense , MoneyTap , CashBean , and EarlySalary — offer users an easy, fast, and paperless loan process. These apps offer a lot of benefits with low interest rates, flexible payment terms and fast sanctioned loans.
These applications are very easy to use, which can be availed by anyone who needs an urgent loan for financial needs. It offers users a pleasant experience of availing loans in a fast manner with the eligibility criteria and easy document processing.
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