These days instant loan apps are on hips. You can get up to 5 lakhs instant loans without a bank visit. Don’t require to submit physical documents.
Check out the 5 apps that give instant loans up to 5 lakhs.
The 5 Apps That Give Instant Loan
| Loan Apps | Age | Interest Rate | Loan Amount |
| Navi | 18 to 65 years | 12 to 30% p.a. | Rs. 10,000 to 5 lakh |
| Money View | 21 to 57 years | 1.33% per month | Rs. 5,000 to Rs 5 lakh |
| SimplyCash | 21 to 58 years | 2.08% per month | Rs. 50,000 to 1.5 lakh |
| Faircent | 21 to 58 years | 36.48% p.a. | Up to 60,000 |
| StashFin | 18 to 60 years | 11.99% p.a | Rs. 1,000 to 5 lakh |
1. Navi
Navi offers instant personal loans up to INR 5 Lakh without the need for any paperwork. Submit your basic KYC documents, and the money will go directly into your account.
Navi is a 100% digital loan process. You will get the loan within 30 minutes. Just fulfill the basic eligibility criteria to apply for Navi instant loan.
Features
- Fully digital loan application
- You can get up to 5 lakh loan
- Flexible repayment tenure
- Minimum documents required
- Instant Approval
| Interest rate | 12 to 30% p.a. |
| Loan Amount | Rs. 10,000 to 5 lakh |
| Credit Score | Minimum 720 or above |
| Loan Tenure | From 3 to 60 months |
| Eligibility Age | 18 to 65 years |
| Processing Fees | 2.5% of Loan Amount + GST Charge |
| Who Can Apply | Self-Employed/ Salaried Person/ Student |
Also Read: Top 7 Instant Personal Loan apps without Salary Slips
2. Money View
Money View offers instant personal loans with loan amounts up to Rs. 5 lakhs for repayment periods as long as 5 years, with interest rates starting at 1.33% per month.
In less than two minutes, borrowers can find out whether they qualify for a personal loan, and if they do, they’ll have access to the money they borrowed within 24 hours. Everything comes with a digital process.
Features
- Fast loan process
- Just Aadhaar Card, Pan Card & Bank Statement required
- Repayment tenure up to 5 years
- Available loans up to 5 lakh
| Loan amount | Rs. 5,000 – Rs 5 lakh |
| Loan tenure | 6 months- 5 years |
| Interest rate | 1.33% per month |
| Processing fee | 2% – 5% of the loan amount |
| Age Required | 21 – 57 years |
| Cibil Score | 720+ required |
| Eligible For | Salaried / Self-Employed / Student |
3. SimplyCash
You may get a personal loan quickly with the help of SimplyCash, which is a digital personal loan service provided by Hero FinCorp.
You can borrow up to 1.5 lakhs with a quick personal loan that has a low-interest rate. The Interest rate starts at 25% per annum.
Features
- Loan amount up to 1.5 lakh
- Fast & quick loan approval
- The digital loan application process
- Flexible EMI facility
| Interest rate | 2.08% per month or 25% p.a. |
| Loan Amount | From 50,000 to 1.5 lakh |
| Credit Score | Minimum 720+ |
| Loan Tenure | From 6 months to 24 months |
| Eligibility Age | 21 to 58 years |
| Income Required | Rs. 15000/- Per month |
| Processing Fees | 2.5% + GST |
| Eligible For | Self-Employed/ Salaried Person |
Also Read: Paysense Personal Loan
4. Faircent
You can submit an application for a Fairecnt Pocket Loan if you are in a hurry and need cash quickly. Personal loans from home are available through Faircent for amounts up to Rs. 60,000. You will get the loan within 30 minutes
Interest rate starts from 36.48% per annum with flexible loan tenure.
Features
- Instant loan approval
- Minimum documents required
- Loan approval within 30 minutes
- Affordable EMI facility
| Interest rate | 36.48% per annum |
| Loan Amount | UP to Rs. 60,000 |
| Credit Score | Minimum 650 or above |
| Loan Tenure | From 3 months to 6 months |
| Eligibility Age | 21 years to 58 years |
| Income Required | Rs. 18,000/- Per month |
| Registration Fees | Zero |
| Eligible For | Self-Employed / Salaried Person |
5. StashFin
StashFin provides up to 5 lakhs instant loans. You can get Rs. 1,000 to 5 lakhs loan without verification. Money will credit to the bank account instantly. The interest rate starts from 11.99% per annum.
The loan repayment tenure is 3 to 36 months. Also, you can foreclose the loan amount.
Features
- Fast loan approval
- Available loans up to 5 lakh
- Without verification
- Repayment tenure 36 months
| Interest rate | Starting from 11.99% p.a. |
| Loan Amount | Rs. 1,000 to 5 lakh |
| Approval Process | Online |
| Income Required | Rs. 20,000 per month |
| Loan Tenure | 3 months to 36 months |
| Eligible Age | 18 years & above |
| Processing Fees | Up to 10% of Loan |
| Eligible For | Salaried Persona / Self Employed |
How to Get a Fast Instant Loan
If you can fulfill the eligibility criteria, you can get an instant loan. But what are the eligibility criteria? Let’s check out in details given below:
Credit History: CIBIL score is the important part when you are going to apply for an instant loan. Lenders will check previous loan track & CIBIL history before giving you a loan offer.
Loan Repayment Track: Your previous loan repayment track is another important part. If you are a previous loan defaulter, you cannot eligible for an instant loan.
Documentation: Your KYC documents are the most essential part to apply for a loan. You should require proper documents of an Aadhaar Card & Pan Card. Your name should be correct on your Aadhaar & Pan card.
Age: Most of the lender’s eligibility age is 21 years. You should check the eligibility before applying for the loan.
Eligibility Requirement
- Good CIBIL Score required (720+)
- Active Bank Account
- Applicant should be Indian Citizenship
- Aadhaar Card linked mobile number for KYC purposes
- The required age is 21 years or above
Also Read: How to select best personal loan borrower
Bottom Line
So, here are the top 5 apps that give instant loans in India. You will get the loan within 30 minutes. These all are RBI-registered NBFC companies. Before applying, check out in details to get fast approval.
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