Financial problems affect our day today life. Then you need money to solve it. A loan can assist you fund your needs. For example, one can take a car loan, home loan, education loan, and loan for medical expenses. Every financial problem has one solution: a loan app. What would it be like if you just click on an app and you get money into your account? It fills happiness in your life. It helps with money related problems in one click. Today, you can qualify for a personal loan India by uploading a few documents and the loan amount reaches your bank account.
An instant loan app : What is it?
As new organisations started entering the financial landscape, the range of services increased. Several firms started offering financial products to suit the specific needs of their customers. Instant loan apps are one of them too. They are a result of technological advancements in the financial industry. An instant loan app is a platform where you get money in your account, for your day-to-day compulsory requirements like education , marriage, health expenses etc.
Essential Features of Instant Loan Apps
- In offline mode, you face a lot of hurdles to apply for the loan. You need physical documents in online applications. You can complete the procedure sitting at home.
- Personal loan app provides the list of documents to apply for a loan.
- You can get a loan amount as per your requirement.
- You can choose the tenure of a loan based on the amount you need and your repayment capacity.
- You are not required to list any of your own property.
- Interest rates are usually different. You compare them easily on a loan app and find which is suitable for you.
- Loan amount gets credited to your bank account as soon as your loan is approved.
Benefits Of Instant Loan Apps
Here are the top benefits of instant loan apps.
1. Process of loan application is quick and easy. Complete the loan process in less than 15 minutes.
2. Process is so simple you can fill the document, asked in the loan application.
3. Your loan gets sanctioned if your documents are correct as mentioned in the application.
4. Anywhere in the world you can apply the loan instantly by using the loan app only with high speed internet.
Documents Needed for Quick Loans
Check out the list of paperwork to have on hand, before submitting an application for an instant loan. During the instant loan application procedure, you may need this set of documents to be provided and submitted.
- Address verification -voter ID card, passport, utility bills, etc.
- Identity verification (PAN card, Aadhaar Card, etc.)
- recent 3-6 month pay stubs (for salaried employees)
- Statement of income (for self-employed individuals)
- bank records from the previous three to six months.
How to Apply for a Quick Loan
One can apply by following the steps given below to receive an instant loan.
Step 1: First go to the lender’s website or mobile application.
Step 2: Visit the area for rapid loans.
Step 3: Complete the application if you are an existing customer. New users must first finish the registration process before submitting an application.
Step 4: Complete the cell phone or email OTP verification after entering all the information.
Step 5: Enter the income information and KYC information.
Choose the loan amount in step six.
Upload the pertinent documents in step seven.
Step 8: Send in your application.
How To Apply On an Instant Loan App
Follow the steps as mentioned below to apply for a loan on instant loan apps.
- The registration process is fairly easy. On your smartphone, first do the personal loan app download from Google play store or the Apple app store.
- Sign up for the app using your google or social media accounts.
- From your smartphone, upload the documents listed in the app.
- Type in the necessary loan amount.
- Your loan request is approved or denied by the app in a matter of minutes or hours.
- The money will be credited to your specified savings account once it has been approved.
Fibe is All You Want
For short-term personal loans, Fibe is one of the best instant loan apps in India. With step-by-step instructions for the application procedure, the app is fairly user-friendly. You can apply for loans between Rs. 5,000 to Rs. 5 lakhs based on your needs. Even your loan status is instantly available on their app. You can also check your credit score freely. The best part of Fibe loans is the lucrative interest rates. You only have to pay Rs. 9, that too on a daily basis. So, you pay for the exact number you availed the loan. Since loan approval occurs instantly, apply anytime you want.