Need instant money for an average-sized payment or significant amount for your holiday? Or maybe you need to pay off your credit card bills or finance a grand wedding? Times are changing and with everything done online, consumers have a multitude of choices to get a large amount of credit for their purchases, particularly credit cards and loans. However, personal loans are rising in popularity for several reasons such as paying off credit card bills, consolidating your debts, personal financing and paying off other bills. With a particular focus on banks that accept applications through their personal loan mobile applications, we bring you a list of 5 personal loan lenders that provide instant personal loans through seamless processes with minimum documentation requirements:
- Indiabulls Dhani App
Indiabulls Dhani App has the most seamless & instant processing for borrowing personal loans through their personal loan mobile app Dhani. They offer a variety of benefits like earning reward points on their loan which helps in reducing EMI cost along attractive top up loan offers & pre-approved credit line and more. You can borrow any amount between Rs. 500 to Rs. 15 lakhs at an interest rate of 1.17 percent p.m. The process to get a personal loan is simple and one can do it online in few steps online, documentation is simple & everything can be done online. There are flexible loan tenure options from 3 to 36 months. Also Dhani app is Indias only app which lets its loan customers earn cash back using Spin The Wheel, Refer & Earn and simple things like using Dhani App for making daily bill payments, recharge & travel booking. All money earned actually helps in saving of EMI cost.
- HDFC Bank
With its mobile app, HDFC Bank provides loan amounts between Rs. 50,000 to Rs. 40 lakhs at interest rates from 11.25 percent to 21.45 percent p.a. The loan is disbursed within 10 seconds and the monthly EMI can stand a minimum of Rs. 2,162 per lakh with a flexible tenure period between 12 to 60 months. The process requires minimum documentation, making it completely seamless through their website or separate mobile app HDFC Loan Assist to obtain, manage, and pay off personal instantly online.
- State Bank of India (SBI)
SBI offers instant and quick loans by applying through their mobile app or website for amounts between Rs. 25,000 to Rs. 15 lakhs at interest rates between 12 percent to 17.05 percent p.a. Their loan tenure only has a maximum period of 60 months and a minimum salary requirement of Rs. 5,000 per month for their Xpress credit loans and other loan options for those with higher salary requirements. SBI provides multiple mobile apps for loan securement and management with instant approvals but disbursement can happen either instantly or take up to 3 days depending on the loan you applied for.
- Upwards
Upwards offers instant personal loans at amounts between Rs. 15,000 to Rs. 2 lakhs with interest rates at a minimum of 12 percent p.a. They offer multiple loan options from student loans to same day loans with a minimum salary requirement of Rs. 15,000 per month. The approval time is longer as it takes a maximum of 24 hours and disbursement is even longer wherein it takes up to 2 days. They provide flexible tenure periods between 6 to 60 months. Their mobile app has a 3-step process of completing your application for a loan and later managing and paying it off through the app itself.
- Axis Bank
Axis bank is one of the well-established banks in India, which helps you avail a personal loan in India. It has a purely seamless process to obtain personal loans. You can get a personal loan in amounts between Rs. 50,000 to Rs. 15 lakhs and the tenure period is between 12 months to 60 months. The interest rates range between 15.75% to 24% p.a. They provide hassle free application with minimum documentation and offers the feature of transferring existing high interest loans to them through balance transfer.
So, you need to make those small quick payments and consolidate your remaining debts? Try getting instant personal loans from these banks and credit providers with their mobile applications and hassle-free documentation requirements. Not only do you get quick disbursements but you can also manage your loans and pay off your installments instantly through safe and secure transactions on these apps itself quickly.