Best instant personal loan apps in India for a quick loan

The internet has made everything fast how the financial world could be left behind. So, the leap has been made in terms of taking a personal loan online via the app. The app has made it possible to get instant personal loans in less than 1 day.

However, using the right instant loan is the way to get it quickly. Many scammer apps are trying to rip money from a genuine borrower in the online financial marketplace. So, here are the best instant loan apps you could use for getting the loan.

StashFin personal loan

A financial professional who wanted to make it easy to take the personal loan started StashFin. It used the latest technological developments to make it easy to get instant loans. It offers every need loan, has hassle-free processing, provides complete security, and the loan is disbursed quickly.

Ø StashFin offers a personal loan from Rs 500 to Rs 5 lakhs.

Ø The rate of interest ranges from 11.99% to 59.99% APR.

Ø The processing fee is from 0% to 10% of the loan amount.

Ø The loan tenure is from 3 months to 36 months.

What is the eligibility criteria for a Stashfin instant loan?

Ø The borrower should be an Indian citizen.

Ø The borrower should be a minimum of 18 years of age.

Ø The borrower should be a salaried employee.

Ø The borrower should have a monthly income of Rs 18,000.

Ø The borrower should have a good credit history.

Documents required for StashFin personal loan?

Ø Identity proof – Aadhar card, PAN Card, Voter ID card

Ø Bank statement

Ø Address proof –Rent agreement, electricity bill

How to apply for a Stashfin personal loan

Ø Download the StashFin app on your smartphone.

Ø Register on the app.

Ø Fill out the personal loan application, upload the necessary documents.

Ø Wait for verification.

Ø Once the verification process is completed, the loan amount is disbursed.

Due to its usage easiness, StashFin has been considered one of India's best instant personal loans. Now, let’s move to the next lender, the FlexSalary personal loan app.

FlexSalary personal loan

FlexSalary was also invented by financial experts who wanted to explore the online personal loan market in India. In a short time, it has become a popular lender disbursing more than 35,000 loans.

Ø FlexSalary offers personal loans up to Rs 2 lakhs.

Ø The processing fee is Rs 650.

Ø The loan tenure is up to 3 years.

Ø The rate of interest could go up to 3% monthly.

FlexSalary personal loan eligibility criteria

Ø The applicant should be an Indian resident.

Ø The borrower should be above 21 years of age to apply for the loan.

Ø The borrower's minimum salary should be at least Rs 8,000 monthly.

Ø The borrower has an active bank account.

Features of FlexSalary personal loan

Ø It offers instant loans up to Rs 2 lakh.

Ø There is no need for collateral since it is an unsecured loan.

Ø The loan could be approved and disbursed within 24 hours of applying.

Required documents for FlexSalary persona loan

Ø Proof of identity ( PAN Card, Aadhar Card, Driving license)

Ø Proof of address ( Rent agreement, postpaid bill, utility bill, electricity bill)

Ø Bank statement, salary slips

Ø 2 Passport size

Types of Loan offered by FlexSalary

Ø Personal loan

Ø Travel loan

Ø Debt consolidation loan

Ø Education loan

How to apply?

Download the flex salary app from the Google play store to apply for the loan.

Conclusion

Both are amazing app to apply for a personal loan. You should compare them both before you apply for it. And do not forget to read the loan documents paper before signing it.