Whether it’s a financial emergency or times when one is running out of savings having insufficient funds to overcome a financial situation like your child’s fat Indian wedding that’s in the next 3 months or your daughter’s engineering college fees or even to pay for a medical emergency, instant loan is an optimal solution with instant cash disposal. Following are some of the benefits of availing an instant loan:
•Convenience with the digital application of instant loans through a lender’s website or mobile app that helps in saving time and apply for a loan sitting in your comfort.
•Minimal documentation since the entire application process can be done online upload the required documents.
•Easy comparison by looking for lenders that have a decent presence in the online marketplace so as to get the best deal.
•Privacy since the details are not shared with anyone with bank-level security.
•EMI Calculation with online EMI calculator by just inserting your loan amount, income, and current EMIs.
•Easy Repayment Options with the automatic debit of EMI option.
Some more roundup of different loan types statistics:
•According to money tap, Personal loans grew at 20.4 per cent between February 17, 2017, and February 18, 2018.
•As per monthly credit data analyzed by EconomicTimes, the retail personal credit disbursement growth in the first half of 2019 between January and June was 7.3%.
•According to data from RBI, the total outstanding advances to the personal retail sector stood at Rs 22.5 lakh crore in June 2019.
•Young millennials in the 20-29 age group formed about 19 per cent of the population that had accessed retail lending products with their share to total loan balances been much lower at 8 per cent
Here's the List of Top 10 Instant Loan Apps in India:
1. |
PaySense |
2. |
MoneyTap |
3. |
CashE |
4. |
MoneyView |
5. |
Cred |
6. |
IndiaLends |
7. |
FlexSalary |
8. |
Dhani |
9. |
Early Salary |
10. |
Kredit Bee |