Best Fastest Instant Loan App In India

In the rapidly evolving world that we are currently living in, the need for speed is everything. Especially, when it comes to financial matters. Thus, making the fastest instant loan app available to customers is more of a business necessity than a luxury or value-added service for Indian FinTechs.

In the last 5-10 years, the ideal borrower has undergone a phenomenal transformation; and so have their financial needs. Gone are the days when a loan approval to disbursement process took days and weeks together. The borrower of today (and tomorrow) expects services that are approved at the click of a button. Sometimes, even before they finish envisioning what they are going to utilize the loan amount for!

With product innovation jumping leaps and bounds to ensure quick delivery of financial services, the market is flooded with loan providers that boast of the best instant loan app in India. In this article, we explore some solutions that walk the talk when it comes to instant credit services:

KreditBee – A preferred and trusted instant loan app in India among young professionals and students, KreditBee has a 4.5/5 app rating for its excellent credit services that provide personal loans up to ₹5 lakh. Since the entire process is digitized, the service is available 24×7, with the loan amount being disbursed within 10 minutes of getting approved. Users have the option of choosing a repayment tenure feasible for them, be it 3 months or 24. Being customer-first, KreditBee even has a helpline to provide extra support to customers availing of their loan services.

mPokket – A low-salary instant loan app, mPokket offers loans to anyone with a valid income receipt, even to those earning less than ₹10,000 a month. The beauty of mPokket is that loans are disbursed immediately to the bank account, with amounts starting as low as ₹500 and the highest interest rate being 4%.

Kissht – This lending app is niche as it caters to credit requests for small business purchases in addition to general requests. These purchases can be made on EMI with interest rates that are among the lowest in the industry. Documentation is straightforward and it takes about five minutes for the loan to be credited once the applicant is verified.

TrueBalance – A mobile wallet app that offers instant cash loans mainly targeting non-online payment users and those with a low or no credit score. Describing its process as ‘light, fast and simple’, this instant loan app has customized products suiting the varied needs of every borrower. Once verified and approved, the applicant receives the loan within 30 minutes.

CASHe – If borrowing from CASHe, users can avail of benefits like cashback, zero prepayment charges, flexible repayment plans, and credit score improvement. Its social loan quotient tool determines eligibility by considering the borrower’s merit, social profile, and earning potential. Within minutes one can borrow up to ₹4 lakh depending on their eligibility score, and even transfer part of this amount to their Paytm wallet for daily use.

SmartCoin – Another instant loan app in the credit market, SmartCoin takes about 24 hours to disburse approved loans. This digital lender services stay-at-home parents, salaried individuals, and business owners, requiring no minimum salary proof as a determining factor. It has a referral program that is an attractive perk, inviting more users who help create a trusted borrowing environment.

Digital lenders have truly empowered India’s borrowing capacity by making credit available to those in tier 3 and 4 areas. The lending ecosystem is growing at an exponential rate and borrowers must be mindful of unregistered digital lenders who employ dubious ways to scam people. Remember to always conduct thorough research of RBI-approved digital lenders, and download the instant loan app mentioned on the company’s website. 