Hello, guys nowadays money is a very big need for everyone. Especially for those who lived out of town without their parents or for students who lives in hostels. Sometimes in case of an emergency, we ask for money to our parents or friends that time we feel needy for such situation here I am just sharing Top 5 loan Apps in India with an easy guide through anyone can grab up long time money to fulfil our needs with minimal interests.
Sometimes we get money from them but a few times we don’t. So in that case of emergency, I’m going to tell you about the top 5 awesome loan apps in 2020 which provides you money in case of emergency or other use. These top five apps will surely help you and provide you with money in quick time with less documentation and without going anywhere. You only need a smartphone, internet and some documents like Aadhaar card, Pan card, college ID card, etc. As the app demands and you should be at least 18 years old or more.
So here are the Top 5 best loan apps of 2020 in India which provides you with a hassle-free loan in quick time with less documentation.
What Are Loan Apps?
Loan apps are the new way to take the loan in a digital way through which any user can take the loan with the help of the apps according to there cibil score, these apps are the modern way to helps people to grab out money without doing long procedures with some the documentation work.
Top 5 Best Loan Apps In India (Updated Today)
There are lots of apps provide instant loan apps which provide the loan without documents still I recommend to use trusty apps, here below I am sharing the list of instant loan apps which will surely help you to save your precious time.
Cash Bean (Best For Loan Approval)
Cash bean is one of the best loan application. Cash bean provides you with a loan on some basic documents like Aadhaar card and pan card. No matter whether you or salaried or self-employed. Cash bean provides you loan range starting from ₹3000-60000 which depends on your need and your credit score. The rate of interest are very low starting from 10% and processing fee is also very low which is automatically debited from your loan. You don’t have a payment processing fee. You can repay your loan in 1-12 months which depends on the loan amount you borrow.
If you are in need of money and have a good credit score then you can get the loan from cash bean within 1-5 hours directly deposited in your bank account. If you are taking a loan from cash bean for the first time then you can avail a loan amount of ₹3000 which is the minimum amount cash bean gives you. So if you really need urgent cash or money, cash bean will surely give you money. You can trust on cash bean as this app is in the top 5 loan apps list from a long time.
Kredit Bee (Instant Loan Approval)
Kredit bee is also a very trusted and one of the best application for a short term loan. Kredit bee provides a loan range starting from ₹1500-30000 with low documentation and hassle-free process. Kredit bee also demands basic documents like Aadhaar card and pan card. If you are applying for a loan from kredit bee then you need to have your Aadhar linked mobile number.
To avail loan from kredit bee you just need to fill some basic information about yourself like your name, date of birth, address, email etc as the app asks. For the first time, kredit bee provides you a loan of ₹1500 which you have to repay within 15-30 days. Kredit bee is also a trustable and best loan app. You will definitely get money from kredit bee if you had a good credit history.
Cash Mama (Get Loan Without Salary Slip)
Cash mama is also one of the best and trusted loan app. Cash mama provides you loan by submitting a few documents like Aadhaar card and pan card and your personal details like your name, date of birth, gender, address etc. Cash mama provides you with a loan range starting from ₹2000-20000.
You only need to upload your documents and your selfie and you will surely get a loan from cash mama. For the first time, cash mama gives you a loan of ₹2000 but the rate of interest is too high and repayment time is also very short. If you take a loan from cash mama then you need to repay the loan within 7 days. So if you are in really need of money or in a big emergency then only you should borrow money from cash mama.
Mpokket is one of the most trusted app for money. Mpokket is best for taking the mini loan. Mpokket provides a loan to students also. While no other apps give loan to students. Mpokket provides you with a loan on some basic documents like Aadhaar card, Pan card, college ID card (for students) and some basic personal details. Mpokket offers you a loan range starting from ₹500-10000.
Mpokket gives loan at the normal rate of interest starting from 10% per month for example if you borrow ₹1000 from mpokket you have to repay ₹1100 within 1month which is very reasonable. Mpokket is best app for borrowing loan for students. So no problem if you are student you can borrow money from mpokket. For the first time, you can borrow ₹500 from mpokket and from the next time they will increase your borrowing limit. But for increasing your limit you should repay the loan within given time.
The branch is also a very nice app for borrowing money or taking a loan. Branch provides you with a loan on some basic documents like Aadhaar card Pan card and your personal details. Branch provides you with a loan range starting from ₹750-6500 with a low rate of interest. For the first time, you can borrow ₹750 which you have to repay within 28 days.
Many people thought that the branch is a new loan app but it has been working and providing loan to the people from the long decade. Branch also provides you with a loan on EMI. You can repay your loan in 4 EMI or 2 EMI which depends on your choice. So choose wisely in how many EMI you have to repay. If you are applying for a loan from the branch you will surely get it but you need to have the good credit score or CIBIL score.
People Also Ask (FAQs)
Some people also have questions in their mind that these types of loan apps do scam or take our personal details and share to others? NO, they don’t do that unless you repay the loan amount. If you take a loan from these apps and won’t return them on time they will harass you and they also give a negative impact on your CIBIL score which is not good for you. Because of this negative impact on your CIBIL score, you won’t be able to take any loan in future. So if you take a loan from these apps please repay them within a given time.
Below I had just picked up the question that are mainly asked by our visitors and answering them below.
Which are the Top 5 Best Loan Apps?
● Cash bean
● Kredit bee
Which is the best loan app in 2020 in India?
● Cash bean ● Kredit bee ● Cash mama ● Mpokket ● Branch
Which loan app gives instant loan up to 30000?
● Cash bean ● Kredit bee 4. Which is the best loan app for students? ● Mpokket
Which is the best loan app for unemployed?
● Mpokket ● Branch ● Cash bean
Wrapping It Up
So my advice is to all of you that you should only take a loan or borrow money from these apps if you are really in need of money or in a big emergency. Because most of the people take a loan to improve their credit score or CIBIL and sometimes they are unable to repay the loan and due to this their credit score gets low and then they give a negative rating or bad comments on these apps. But trust me these apps are really helpful in an emergency.
You can also increase your credit score by repaying the loan in a given time. Incase in future if you are again in need of money then you can get it from these apps if you repay the loan which you had taken first.
So, guys, that’s it for today these are the Top 5 Instant Loan Apps in India 2020. You can trust these top five loan apps in India that you can easily download from the play store for free.