Low Interest Rate Loans
With changing lifestyle there’s also a shift in the way people are availing of loans. Today we have several options for availing of personal loans and one of the easiest and quick ways to avail of personal loans is with the personal loan apps. Let’s check out the lowest interest rate personal loan app.
Traditionally we availed the loans from the banks, NBFCs, and other offline lenders but the drawback in taking loans from these channels is that they charge a high rate of interest, and application processing can also take time. Mobile apps have made availing of personal loans a hassle-free, fast and paperless way of getting funds when we are having financial crises.
Money Tap
This is one of the best personal loan app with the feature no-usage-no-interest. This feature has made the availing of personal loans more affordable. The app provides personal loans at flexible interest rates. To avail of loans from this app, you need to download the app and upload the required documents. After you get the approval, you are assigned a credit line and you can credit that as per your needs. The minimum loan amount that can be available is INR 3000 and the maximum loan amount that can be availed is INR 5, 00,000. it is one of the lowest interest rate personal loan app with interest rates ranging from 1.08-2.03%.
Pay Sense
This one of the fastest instant loan app which provides loans to both salaried and self-employed individuals. Salaried professionals who are drawing a minimum salary of INR 12000 per month and self-employed individuals whose monthly income is a minimum of INR 15000 can avail of a loan from this app. You can check your loan eligibility with your phone or computer and then submit your KYC details. After your documents are successfully submitted it can take up to 5 hours for the loan to get processed. It offers personal loans up to ₹ 5 Lakh and you can use the approved amount anywhere as per your requirement. It also provides an EMI calculator which helps you to calculate how much EMI you’ll pay every month.
Dhani
The app is supported by Indiabulls Venture and it is one of the best instant loan apps without salary slip. You can easily apply for a loan anytime, anywhere, and any purpose. No paperwork is required for availing of the loan from this app. You just need to download the app from the app store and submit your Aadhaar number, PAN number, and address for verification. Once your credentials are verified the approved loan amount is credited to your bank account within minutes. There is no foreclosure fee charged for the loan availed. The minimum loan amount is INR 1000 and the maximum loan amount is INR 15,00,000.
CASHe
It provides short term personal loans for salaried professionals only. You need to download the app from the app store and upload documents such as bank statements, salary slips, address proof, and PAN card. Once the loan is approved the loan is disbursed in your bank account. You can also transfer the part of your approved loan amount into your Paytm wallet as well. The loan amount can range from ₹ 5,000 to ₹ 2 Lakh, with repayment tenure ranging from 15 days to 6 months.
IndiaLends
It is one of the lowest interest rate personal loan app which provides personal loans at the rate of 0.9 – 3% per month with a minimum loan amount of ₹ 15,000 and a maximum loan amount of ₹ 50 Lakh can be availed. Not only the app provides the best interest rates but also it disburses the loan within 48hours. The efficient use of data and technology improves workflows and risk assessments which make the loan disbursal process quick, efficient, and easy.
There is several lowest interest rate personal loan app which are offering instant personal loans and above we have mentioned a few of the top apps available in the app store. You can compare the apps based on interest rates, loan amount, and time to disburse the amount and choose the one which matches your requirements.