The market of online lending is increasing day by day with the help of Fintech (Financial technologies). With digital lending, it has become easy to apply for a loan. However, many lenders have appeared in the market with the evolutions claiming to offer an instant loan.
Some of them are genuine, and others are fake. So, if you need a personal loan, it is essential to check out genuine lenders. This is why today; we will give you the Top 5 list of lenders providing the loan. They are a mix of Banks and NBFCs. We will begin with ICICI Bank personal loan. ICICI Bank Personal Loan ICICI Bank personal loan offers loans to both, salaried individual and self-employed professionals. It does not require collateral and the whole process is paperless. It offers the loan amount up to Rs 20 lakhs, and the ICICI bank personal loan interest rate is from 10.99% to 18.49% P.A It offers one of the lowest EMI in digital lending at Rs 2,187 per lakh. The processing fee is low, structural loan repayment tenure, and requires minimal documentation. To apply, you can visit the nearby ICICI bank branch or head to its official website. To know the EMI, use the ICICI bank personal loan EMI calculator. Kreditbee Personal Loan Kreditbee personal loan is an NBFC offering instant loans up to Rs 1 lakhs. This lender is best for those borrowers who find it difficult to get a loan from traditional lenders. It offers three types of loans, Microloan, Cash loan, and Salary advance loan. The rate of interest starts at 1.5% per month. The loan tenure could be up to 15 months, depending upon the loan amount. Even if you do not have a credit score, do not worry; the loan is provided. To apply, download the Kreditbee app from the Google play store. LoanTap Personal Loan LoanTap is an NBFC offering a decent loan amount. The loan is quickly processed with a simple application method. The LoanTap personal loan is collateral-free with customized loans. The loan amount is offered up to Rs 10 lakhs, at the interest rate having between 15% and 24% per annum. The minimum age requirement is 23 years to be eligible for the loan. The loan could go up to five years. To calculate the EMI, use the LoanTap EMI calculator. CASHe Personal Loan CASHe is a lending app offering short-term loans. It provides loan amounts up from Rs 9,000 to Rs 3 lakhs. The rate of interest starts at 1.5% per month with loan tenure up to 180 days. To determine the borrower's eligibility, it uses an SLQ (Social loan quotient). The processing fee would be 2 or 3% of the loan amount. To be eligible, your minimum income should be at least Rs 15,000 monthly. It requires minimal documentation having a quick approval process. To apply, download the CASHe app from the Google play store. Lendbox Instant Loan Lendbox is an unusual lender because it is a p2p ( peer to peer) platform. It means borrowers and lenders are connected directly. To take a personal loan does not require collateral nor a guarantor. The loan amount is provided up to Rs 5 lakhs at the maximum 28% interest rate per annum. It has PAN India coverage with a high approval rate. A borrower should have a minimum income of Rs 25,000 per month to be eligible for the loan. The conclusion These are the current top 5 lenders in India offering the personal loan. They each have a dedicated app in the Google play store or iOS store. Install them to apply for the loan. Read More : Why Personal Loan Is Better Than Credit Cards With Having A Lower Interest Rate
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1/11/2023 09:58:28 pm
Thanks, I am really happy with these great tips! Sign up for an ANNA business account and you get a business debit card and all the tools to grow your business, from invoicing and expenses to VAT.
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Apoorv ChaudharyStrong marketing professional with a focus on Finance & Marketing. Archives
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