Just like ordering your favourite food, gadget, or grocery from your smartphone, getting a Personal Loan is not difficult anymore. Yes, now you can not only apply for a Personal Loan online but also get it approved and disbursed within minutes.
The best part is you can use a Personal Loan to fund any expense of yours without being answerable to your lender. You only need a good credit score and steady income flow to get a Personal Loan online.
Here are a few lenders from whom getting Personal Loans online is a breeze:
CLIX Capital unquestionably offer the most convenient personal loan online. Their online Personal Loans are easy to avail due to their three-step application process and Clix offers personal loans at attractive interest rates.
Within 15 minutes, the applicant gets intimated if their loan has been accepted. They boast of advanced and sophisticated digital platform that performs the verification process in real time. Their loans are collateral-free, making them ideal for people in times of financial emergencies or when they are running short of funds. The company leverages technology to make the lending process fast, simple and more accessible for the customer.
- Monthly interest rate:Attractive interest rates range from 1.25% to 2.08% per month.
- Loan amount: Starts from Rs. 50 thousand and can go up to a maximum of Rs. 10 lakh
- Documentation required: KYC details, Identity proof, Address proof, Proof of Identity, Aadhar card, PAN card, utility bills, Income proof and a Photograph
- Notable features:No collateral or security is required to avail of this Personal Loan online. The applicant must have a minimum salary of Rs. 25,000 per month as an essential eligibility criterion. There is flexibility in repaying the loan, and one can choose a tenure ranging from one year to four years to clear their debt.
MoneyTap is an online lender that offers Personal Loans in the range of Rs. 3000 to Rs. 5 lakh. These low-interest personal loans can be used to back numerous things, such as weddings, medical emergencies, top-ups for home loans or education loans, vacations, and other big buys like gadget purchases. They evaluate the income, repayment history, credit score, ongoing loans, income, and other vital factors. An applicant can avail of this collateral-free loan within four minutes.
- Monthly interest rate: Ranges from 1.08% to 2.3% per month.
- Loan amount: Ranges from a minimum of Rs. 3000 to a maximum of Rs. 5,00,000
- Documentationrequired: Address proof, photo ID proof, PAN card details, selfie, account statements, credit card statements, etc.
- Notable features: The loan application process is entirely paperless, with online approval and disbursal of a loan. EMI repayment tenure is flexible and can be paid from two to 36 months.
Bajaj Finserv is a legacy financial services company but is no less than FinTech owing to its quantum of technology leverage. They offer Personal Loans online that are approved instantly and disbursed within 24 hours. These collateral-free Personal Loans are offered to those who meet the age, income and credit score eligibility criteria.
- Annual interest rate: Starts at 7.5% per annum.
- Loan amount: A maximum loan of Rs. 25,00,000 can be applied for
- Documentationrequired: KYC details, Address proof, photo ID proof, PAN Card details
- Notable features: The loan application process is entirely paperless, with online approval and disbursal of a loan. The borrower can choose a repayment tenure ranging up to five years. They offer the Flexi Personal Loan, where you can pay interest-only EMIs and bring down your monthly instalments.
Buddy Personal Loan online can help take of financial limitations one faces by making loans up to Rs. 15,00,000 available, fuss-free. Like other Personal Loans online, these loans can be used to plan the wedding of your dreams, renovate your house, pay off your medical bills, take a foreign holiday or take care of any unforeseen expense. Their service is offered in multiple cities, and this online platform is known for promptly approving loan requests and disbursing them ASAP.
- Annual Interest Rate: 11.99 per cent
- Loan Amount: Ranges from a minimum of Rs. 10,000 to a maximum loan amount of Rs. 15,00,000
- Documentation required: Identity proof, Address Proof, Proof of Identity, Aadhar card, PAN card, utility bills, Income proof and a Photograph
- Notable features:They pick up the documents from your residence, so the applicant doesn’t have to go through the hassle of scanning or uploading documentation. The loan process is flexible and convenient for the end-user, with fast approvals & disbursals.
PaySense is a fast-growing financial institution that makes money readily available to those who need it instantly. It offers Personal Loans online in no time. You can use a device of your choice to check these loans, from the loan eligibility and application process to the disbursal of funds. The platform boasts of an EMI calculator to help you better when you plan your finances and make projections.
- Monthly interest rate: 1 .08% to 2.33 %
- Loan amount: Ranges from a minimum of Rs.5,000 to a maximum loan amount of Rs. 5,00,000
- Documentation required: Identity proof, Address Proof, Proof of Identity, Aadhar card, PAN card, utility bills, Income Proof and a Photograph
- Notable features:The loan process is flexible and convenient for the borrower, with fast approvals & disbursals. Their low-interest Personal Loans are ideal for first-time borrowers with zero credit history. The repayment plans can be affordable if the borrower has a good credit score.
IndiaLends is another online platform that is known for its seamless lending process. They guarantee that the applicant will receive the money in their accounts within 48 hours. They rely on technology and data to improve workflows and ensure better risk assessment.
- Annual Interest rate:Attractive interest rates start from 10.75% per annum
- Loan amount:It can go up to a maximum of Rs. 50 lakhs
- Documentation required:KYC details, Identity proof, Address Proof, Proof of Identity, Aadhar card, PAN card, utility bills, Income Proof and a Photograph
- Notable features:No collateral or security is required to avail of this Personal Loan online. The applicant must have a minimum salary of Rs. 15,000 per month. They charge a processing fee of 6% and offer a flexible repayment tenure ranging from one year to five years.