Best lenders to get instant loan up to 5 lakhs

There is no doubt; the ongoing coronavirus pandemic has devastated many family savings. A lot of families are struggling to get their life back on track. The issue of money has impacted society at large. If there is an emergency, those families do not have backup money for it.

So, if you are one of those families facing the situation, what options you have. Well, the first natural option is to ask for monetary support from your friends and family. If the help is provided, then you won’t further issue. However, if there is no help at all, it is time to consider other options.

Your best option is to get an instant personal loan. But before you apply, it’s essential to know about the lender. Thus, we wanted to present the 2 best lenders in the market to get a loan. Let’s check them out.

LazyPay

We will begin with a lender who offers loans up to 1 lakhs. It is one of the leading loan apps in India. The process of getting the is extremely easy. You only have to download the app, fill the form, and apply for it. Let's see the loan details.

Ø LazyPay offers instant loans from ₹10,000 to ₹ 5 lakhs.

Ø The rate of interest for the loan ranges between 15% to 32% P.A

Ø The loan tenure for repayment is from 3 months to 24 months.

Ø The processing fee is 2% of the loan amount.

Documents required to apply

Ø Proof of Identity ( PAN Card, Aadhar Card)

Ø Address proof ( Passport, Driving license)

Ø Bank Details ( Bank statement and salary slips)

Ø A photograph or selfie

The eligibility criteria

Ø The borrower age minimum should be at least 22 years to apply

Ø The borrower should be a salaried individual.

Ø The borrower should be an Indian citizen living in tier 1 or tier 2 cities.

We have covered the first lender. Now, we will move to the second lender, which is StashFin.

StashFin

When professional experts in finance launch an app, the result is bound to be good. StashFin has a loan for every need offering up to ₹5 lakhs. Currently, it is operating in more than 20 cities in India. Here are the basic loan details.

Ø StashFin offers loans from ₹500 to ₹5 lakhs.

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

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

Ø The processing fee could go up to 10% of the loan amount.

Documents required for StashFin

Ø Proof of Identity ( PAN Card, Aadhar Card)

Ø Address proof ( Passport, Voter ID card, driving license)

Ø Bank statement and salary slip

Ø GST and ITR papers for Self-employed professionals

The Eligibility criteria

Ø The borrower should be a minimum of 18 years to apply.

Ø The borrower should be an Indian resident.

Ø The borrower should be a salaried individual or self-employed professional.

How to apply

Ø First, download LazyPay or StashFin personal loan app from the Google Play store.

Ø Create an account.

Ø Check the eligibility by entering the basic details.

Ø Fill out the application form.

Ø Wait for verification call.

Ø Once the verification is complete, the loan amount is transferred into your bank account.

Both the app offer a big loan amount for any emergencies. They need minimal documents, have easy eligibility criteria, and the applying process is smooth. In case you need an instant loan without documents, that option is available too.

If you have any trouble regarding applying for the loan, contact us. We would be happy to assist you.