Top 6 NBFC Authorized Loan Apps with Quick Easy Approvals in India

Explore the top 6 NBFC loan apps in India with quick, easy approvals for personal loans. Get fast access and minimal documentation for hassle-free

Stabrez May 2, 2023 Money

Looking for a quick and hassle-free personal loan? Non-Banking Financial Companies (NBFCs) have revolutionized the way loans are processed, offering instant approvals and minimal paperwork. With dedicated loan apps, you can now apply for a loan anytime, anywhere, and have funds credited directly to your account. Here’s a detailed look at the top 6 NBFC loan apps in India that are perfect for your financial needs.

Non-Banking Financial Companies (NBFCs) – RBI

Kissht Loan App: Fast Approval Made Easy

Features:

Loan Amount: ₹10,000 to ₹1,00,000

Interest Rate: 14% to 28%

Tenure: 3 to 24 months

Processing Fee: For a loan of ₹30,000, it is around ₹750.

Kissht is a user-friendly platform trusted by over 1 crore users in India. It provides quick approvals and flexible loan terms for emergency expenses. Along with the 4.1 rating on Google Play Store, it is one of the safest choices for personal loans. Facebook Verification Approved : Boost Your Profile’s Credibility

Fast processing time, with approvals in minutes.

Light documentation burden.

Clear-cut loan terms with no surprise charges.

Pro Tip: Keep your credit score good and ready to gain benefit of low interest rates.

NIRA Loan App: Options for salaried persons

Features:

Loan amount: ₹ 5,000 – ₹1,00,000
Interest Rate: 24% – 36%
Tenure:3 months – 2 years
Processing fee: Zero fee if repayment is done within 7 days

It caters to the employees earning above ₹12,000 per month. NIRA is between 22 years and 59 years; it is suited for any kind of short term loan apps. With a 4.3 rating on Google Play Store, NIRA is one app for smooth borrowing experience.

Benefits

• Instant credit line generation.
• Repayment flexibility
• No pre-charge for pre-closure of the account
• Pro-Tip: Make better your repayment plan with the EMI calculator on the app.

Home Credit Loan App: More for your Large Needs

Features:

Offer Amount: ₹10,000 to ₹5,00,000
Interest Rate: 24% to 34%
Tenure: 6 months to 4 years
Processing Fees: 2.5% to 5% of the loan amount

Home Credit is the best because it offers a larger loan amount, which is required for significant financial needs such as medical emergencies, education, or weddings. It has a 4.4 rating on Google Play Store and has been downloaded more than 1 crore times, so it is a trusted name in the NBFC sector.

Benefits:

• 100% digital and paperless process.
• Quick disbursement within 24 hours.
• Extensive customer support for a smooth experience.
• Pro Tip: Ensure all KYC documents are updated to get approved quickly.

MoneyView Loan App: Loans for All

Features:

Loan Amount: ₹5,000 to ₹5,00,000

Interest Rate: 16% to 40%

Tenure: 3 months to 5 years

Processing Fee: 2% to 8%

Money View is one of the best-rated apps available (4.7 on Google Play Store) that has been available at over 5,000 locations and has reached the remotest corners. It is one of the first choices of those looking for transparency and flexibility in loan terms.

Advantages:

• Guaranteed approvals within 5 minutes.
• No hidden costs or fees are levied.
• It provides large loan amounts for diverse necessities.
• Pro Tip: Check credit score on this app to see your financial condition

TrueBalance Loan App: For small loans

Features

Loan amount: ₹ 1,000 to ₹ 1,00,000
Rate of interest: 30 % -40 %
Tenure: min 3 months with flexible return options

TrueBalance is a top choice for students and borrowers who are in search of smaller loans. With a rating of 4.3 and over 5 crore downloads, it is also an extremely reliable way to get loans quickly, safely, and without paper.

Benefits

• The platform avails loan products specifically to low-income customers
• Fast disbursement
• AI-based credit scoring that ensures approval within minutes
• Pro Tip : Ensure consistent repayments to maintain a higher probability of lending worth up for subsequent applications.

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KreditBee Loan App: Designed for Students and Salaried Employees

Features:

Loan Amount: ₹1,000 to ₹4,00,000

Interest Rate: 0% to 30%

Tenure: 3 months to 24 months

KreditBee is an all-rounder app for students and professionals. With more than 50 lakh downloads and a rating of 4.3, it is a trustworthy platform for personal loans with minimal documentation.

Benefits:

• Loans approved in less than 15 minutes.
• Multiple loan products to choose from.
• Transparent terms and conditions.

Pro Tip: Start with smaller loans to build your creditworthiness over time.

How to Choose the Right NBFC Loan App

When you are picking a loan application, look for:

• Amount Requirements: Whether it covers the amount you need
• Interest Rate: An assurance that you are getting low rates, so least repayment
• Repayment Term: Flexibility always of tenures as per the income cycle
• Processing Charge: Avoid surprise since some charge a lot
• Eligibility: Age, income, documents required.

Customer Reviews: Use Google Play Store ratings and reviews to judge reliability.

Benefits of Using NBFC Loan Apps

• Fast Approvals: Loans approved and disbursed in minutes.
• Minimal Documentation: Aadhaar and PAN cards are usually sufficient.
• 24/7 Availability: Apply for loans anytime, from anywhere.
• Secure Platforms: RBI-registered NBFCs ensure data safety.
• Flexible Repayment: Options to prepay or extend tenures as needed.

Tips to Get Your Loan Approved Faster

• Maintain a High Credit Score: Keep your CIBIL score above 600.
• Upload Correct Documents: Verify all the details uploaded.
• Avoid Multiple Applications: Applying for several loans simultaneously may impact your credit score.
• Pay on Time: Timely payments build your creditworthiness.

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Conclusion

These top 6 NBFC loan apps provide personal loans instantly with easier terms and virtually no hassle attached. Whether the customer is a student, or salaried professional, or businessman, these kinds of platforms easily serve all demands for money at their end. Download your application today, apply simple KYC, and walk off with trouble-free loans.

Do I need to have a good credit score for applying for the loan?

It does not matter to NIRA or TrueBalance – they also make loans to an individual even though he may possess a poor score.

Achieve your financial needs with the esteemed NBFC app today.