Denice R. Preston
What should you do if you have an urgent need for money? A personal loan is the best option. Although most banks and financial institutions offer personal loans, it can take time and effort. It can be time-consuming to complete the documentation. You also need a clean credit history. The best instant loan app for India should not be used if you have a salary slip.
- Rapid approvals and disbursals
- Easy eligibility rules and a high degree of flexibility
- No collateral requirement.
- Convenient documentation.
- User-friendly features.
These are the top ten instant loan apps in India that don’t require salary slips.
1. HTML5_ MoneyTap Loan
The first step is to download the MoneyTap App from Google PlayStore and AppStore. Next, enter your details, such as age, income, residence, and PAN, to determine your eligibility for the MoneyTap Credit Line. After obtaining the approval, you can start using the funds.
MoneyTap personal loans up to Rs 5 Lakhs at interest rates between 1.08 and 2.3% per month. Additionally, borrowers can get flexible repayment terms of up to 36 months. MoneyTap’s best feature is its quick approval process, which takes only four to five minutes. The interface and secured API make MoneyTap India’s most popular instant loan app.
2.PaySense Loan
PaySense partners with well-respected banks and financial institutions in order to provide instant personal loans online. Personal loans range between Rs 5,000 to Rs 5 Lakhs for almost all kinds of emergencies. The best part about personal loans is the fact that they are available to anyone without a credit history.
It takes minutes to complete the application, submit documentation, approve, and disburse. The interest rates are between 16% to 36% per year. Maximum 60-month repayment terms are available. PaySense allows both salaried and unemployed people to apply for personal loans. PaySense has recently merged with.
3.Nira
Nira is one of the top instant loan apps without salary slips. It offers instant approvals, easy registration, and loans with no CIBIL score. Based on your online documents, Nira automatically calculates your credit score.
Personal loans from Nira range from Rs 3,000 to R 5 lakhs with interest rates of 1.5 to 2.5% per month. You can extend your credit term with this instant personal loan app. You can also set up auto-debits or auto-credits through the app.
Kissht is an app that allows you to get a loan quickly. This is a great personal loan option for freelancers and students who don’t have a steady income.
Kissht provides a QR-based revolving credit line within five minutes. Kissht only requires a photo of your Aadhar card to verify your eligibility, approve the personal loan and deposit it into your bank account. Maximum Rs 2 lakhs loan with interest rates of 14% to 30%. It is attractive because it is 100% digital.
4.Smart Coin
Smart Coin is a popular loan app that does not require a salary slip. It provides quick personal loans to help you meet your immediate cash needs. This app offers small loans of up to Rs. 70,000 to low-income and middle-class people.
Smart Coin Instant Loan App is unique in that it provides instant personal loans solely on Aadhar and PAN cards. The interest rate ranges from 20 to 36% per year. These short-term loans can be repaid in 91 to 270 days. The loan amount for applicants who still need to get a CIBIL Score is Rs 20,000.
5.Dhani Card
Dhani Card is a top-rated instant personal loan app for students, salaried people, and self-employed individuals. You can get loans up to Rs 5 Lakhs at an interest rate of 1 to 3.17% per month, depending on your eligibility, loan amount, and repayment term.
Dhani Card allows you to get a credit line of up to Rs 5 Lakhs at a 0% rate and without linking your bank account. The facility provides unlimited access to doctors for a nominal monthly fee. This loan can be repaid in three installments and is interest-free.
The Dhani Card also offers cashback of up to 2% on all purchases. Dhani Store also offers discounts of up to 20%, which allows users to purchase their daily groceries and household goods.
6.mPokket Loan
mPokket, a short-term personal loan app that is available on Google PlayStore for salaried workers and students to help with their immediate financial needs. The loan amount can be between Rs 500 to Rs 30,000 with interest rates starting from 3.5% per month.
Students can apply online for an instant personal loan. While salaried workers will need to submit their salary slips and pay a fee, students can upload their ID proof. Online loan approval is possible and usually disbursal takes less than 24 hours. The disbursal can be made to a digital wallet, such as PayTM, so borrowers don’t need to open a bank account.
7.CASHe Loan
CASHe has one of the easiest interfaces. Before setting up their credit limit and clicking on the “Credit Line”, the user must upload all necessary documents. This app also allows users to receive one approval for multiple loans at once.
Personal loans from CASHe are available up to Rs 5 lakhs with an interest rate of 1.75%. The app offers direct deposit to your bank account. Users can also set up auto-debit facilities from their bank accounts for quick and easy repayments. As part of the Pay Later plans, CASHe partners alongside eCommerce retailers such as Amazon, Big Basket and Flipkart.
To be eligible for these personal loans from CASHe, however, you must have a good credit score.
8.Credit for Home
Home Credit is a great loan app that doesn’t require a salary slip. It allows you to get personal loans up to Rs 2. lakhs by submitting your PAN card and an ID/address verification document. The amount of the loan depends on your credit score. This app allows you to get personal loans even if your credit score is not high.
The personal loan can be repaid over 26 months at an interest of between 2.4 to 3.3% per month. This online loan portal is accessible to anyone between 19 and 65 without the need for a salary slip.
9.Money View Loan
Money View is different because it uses a credit rating system that determines the maximum loan eligibility. By submitting their mobile number, users can quickly check their eligibility for a loan by completing the OTP verification process. Before applying for a loan, applicants must complete KYC forms.
Money View provides personal loans of up to Rs 5 Lakhs via direct bank transfer. The loan is disbursed within 24 hours after approval. Users have the option to choose their repayment term and pay a rate of interest of around 2% per lună.
10.Final Thoughts
Because they can be obtained quickly and require minimal documentation, personal loans are very popular. This facility also allows users to use the loan in any way that suits their financial needs. These instant loans are a hit because there is no collateral and they have easy repayment terms.
