Best Personal Loan App

  Small personal loans are unsecured, instant loans taken for urgent financial needs. Depending on the lender, you can get a small personal loan between Rs. 1,000 and Rs. 3 lakhs. The repayment terms and conditions are generally flexible for small personal loans and lenders don’t put a limit on what you can do with the loan money. You can get a low-interest small loan for a variety of reasons such as paying medical expenses, repaying debts, purchasing expensive items, and financing your vacation. In this blog, we discuss the three ways in which you can use small personal loans . Pay for home renovation or improvement One of the most popular uses of a small personal loan is for home remodeling or maintenance. You can use the loan amount for plumbing, electrical or for beautification work. Through small personal loans you can improve the functionality of your home for yourself and boost its resale value should you decide to sell it in future. Compared to home equity loans, unsecured ...

There will be many instances in life where you'll find yourself facing an unexpected cash shortage. No, I'm not only talking about common month-end cash crunches. You may need extra cash to take care of large purchases for your house. You may also face unexpected expenses, like replacing electronics, house repairs, or emergency travel plans back home. Whatever the reason may be, what matters is getting the amount you need at the correct time. You can't afford to wait when you're faced with a financial emergency. A small personal loan is just what you need. It’s an unsecured loan with quick approval and disbursal. Here are four situations where a small personal loan can help you. 1.Consolidating Debt Consolidating debt is one of the most common reasons why people apply for a small personal loan. If you're already paying off more than one personal loan, you'll hardly be able to save any money for emergencies. It can also get confusing to manage multiple loan EMI ...

Diwali is considered to be an auspicious occasion for investing money all across India since it signifies oncoming prosperity and good fortune. Receiving appraisals and bonuses at workplaces provides an added benefit of disposable income that can further help you consider investing seriously. Investing in real estate is always a good idea as it yields good returns. You can easily get a personal loan to invest in property this festive season. Read on to know the reasons why it is a good idea to buy your dream home during Diwali. Auspicious Occasion Buying a new house during an auspicious time is always considered as good luck. Diwali is one of the biggest festivals all across India, making it a very favourable time to invest in real estate. The occasion of Dhanteras is especially considered highly fortunate when it comes to buying property. Attractive Deals And Offers Diwali is also a time when property dealers extend various deals and offers, such as no pre-EMI or significantly low do...

You will be faced with many instances in your daily life when you'll require an infusion of cash to meet financial emergencies. In that case, you'll have to decide the type of loan you'll borrow. There are two types of loans you can take: secured and unsecured. But before you choose, you need to understand the difference between taking out a secured and unsecured loan online. It's straightforward – a secured loan typically requires collateral (some property or a vehicle) with a significant financial value that acts as security for your lender. So, if you default on your loan, they can recover their loss using the collateral provided. An unsecured loan , on the other hand, doesn't require any collateral. They are a riskier proposition for your lender than you. So, how do you figure out what to choose? It depends on what your available options are at that point and which is the most affordable one. Secured Loans: How do These Loans Work? You've heard of an aut...

Everyone wants to build their wealth and create a secure future not just for themselves but their loved ones too. However, many things can come in the way of your long-term financial plans, which in turn might mean that reality can turn out to be quite different from what you expected. Several people learn to survive on a low income; saving is a luxury, getting by is a necessity. Having adequate savings is vital to handle emergencies smartly. For emergencies, you can either go for a low salary personal loan , dip into your savings, or both. But can you save when you are living paycheck to paycheck? Your personal finances (or lack thereof) is one such factor that not only influences your current lifestyle but your future one as well. Here are four tips that can help you overcome the challenge of saving money even with a low income.     1.First Things First- Sort Out Your High-Interest Debt This is the first step towards achieving your savings goal. If you have any high-int...

Travelling is often considered one of the most rewarding habits one can cultivate. That being said, not everyone can manage to find the time and money to travel to those places they genuinely want to explore. Thanks to new-age personal apps, you can now get a personal loan for travel and visit all the places on your bucket list. Continuing on the subject, in this post, we present five benefits of taking a personal loan for travel. Read on!  1. Saves Time  The processing time for a personal loan application is fast. You even have personal loan apps that process and disburse the loan amount in just an hour or two. This makes personal loans ideal for travel because the quick disbursal allows you to plan your trip well in a hassle-free manner without any compromises.  2.Low EMIs  Factors such as a low credit score increase the interest rate at which banks offer personal loans. Unlike traditional financial institutions, online personal loan apps provide competitive inter...

Your wedding is one of the most memorable milestones in your life, and all of us have thought about having the wedding of our dreams multiples times. While a wedding is the coming together of two souls, in India, it is the coming together of two entire families. Any parent would wish to see their child wed amidst pomp & splendour, and in India, that’s exactly what happens. Here, the norm is, “the bigger, the better”. Having luxurious, themed parties lasting three days (or more) has become the norm now. While there are a lot of memories waiting to be made amidst all the celebration, nobody can deny that it comes at a staggering cost. Weddings know no concept of a budget, because there’s always something that overshoots it.  So, if what do you do when you want extra money to fund the wedding of your dreams? You take out a personal loan for wedding Loan , of course! This is a personal loan offered by banks and NBFCs in India to help people finance their dream wedding. Here are fou...

Across the globe, the coronavirus pandemic has upended life as we know it. Economies have spiralled, and businesses have halted operations or shut down completely. Salaried professionals in the corporate sector face immense anxiety, as their employers ask them to take pay cuts. Thousands of workers have been furloughed or laid off as well. In such an uncertain climate, it's natural to be worried about your next salary. If you've been asked to take a pay cut, managing your living expenses on a reduced salary is bound to be challenging. There will be times where you'll be short of cash for necessary expenses. Borrowing from friends or family may not be an option, as your peers are worried about their jobs too. In such a scenario, people are increasingly turning towards borrowing instant loans online to get emergency cash quickly. But are instant loan approvals good news? We explore three ways to borrow money in a financial crisis. Read on: 1.Payday Loans This is a type of ca...

We spend most of our time planning our finances, managing loans, and paying bills so that we don’t fall into a debt trap. Even after thoughtful planning, we fall short of money and require a loan, preferably from one of the best personal loan apps, to overcome our financial distress. While it’s not wrong to apply for a loan , it's important to maintain discipline while handling personal loans, credit cards, and other debt. If not, you could end up damaging your credit score. In this blog post, we shall discuss four tips to boost your credit history. Read on! 1. Always Repay  on Time Ensure that you are making your personal loan payments on time to build a good credit history and reflect a positive reputation on the credit bureau. To make full payments every month, set an automatic monthly payment system with a reminder. It helps you pay your bills on time by automatically deducting money from your account.  2. Maintain a Low Credit Utilization Ratio Make sure that you do not l...

 Although enough has been said and written about the needs and wants of the “common man”, it seems the whole world is designed for the ones holding the strings. The case in financial services is not very different. In a country like India, where people go scot free even after defaulting on loans worth thousands of crores, getting a personal loan has been an ordeal for low-salaried individuals. But that is now changing; thanks to the companies offering low salary personal loans . What are low salary personal loans, you ask? Read on.  What are Low-Salary Personal Loans? Low salary personal loans are similar to traditional personal loans, albeit with a few differences. To begin with, a low salaried employee can draw anywhere between ₹10,000 to ₹2 Lakhs . Besides, as the loan range is not too high, the repayment period is also usually shorter than traditional personal loans. Here’s another aspect worth noting: the interest rates charged by different low salary loan companies tend ...

The advent of the COVID-19 pandemic has had irrevocable repercussions across the world. Economies have tanked, leading to a sharp rise in unemployment. In India, within just two to three months, large corporations, mid-sized companies and (especially) small start-ups have had to let go of a lot of employees. Just like that, thousands of employees either lost their jobs or were put on unpaid leave indefinitely. Owing to the recession-like climate in the country and the total loss of job security, everyone is now focusing primarily on increasing their savings. Those who have lost their jobs have turned to small business to keep their family afloat. Right now, starting a small business is the only way to earn some money for most people. Even if you don’t have enough money, you can always take out a low-cost personal loan. Here are five profitable business ideas you can explore after the lockdown is over: 1.     Internet Infrastructure Provider Right now, the importance of se...

 When it comes to buying a car, there are a lot of things that you need to take into consideration. Times have changed, and the world as we know it isn’t the same anymore. In today’s post-COVID world, all of us need to follow social distancing norms and keep both ourselves and our loved ones safe. While it is true that almost every company has afforded its employees the facility to work from home, some of us aren’t that lucky. Your employer may ask you to work from your office, which is a precarious proposition if you don’t have a personal vehicle. Taking public transport or relying on cabs aren’t safe as it increases your exposure to infected surfaces. So, believe it or not, having your own vehicle is a considerable advantage in this pandemic.  If you don’t have a personal vehicle, buying one now is the right choice. But apart from getting the design, model, and accessories right, you also need to ensure that you finance your purchase the right way. While many people would go...

 Negotiating a loan can be a stressful process, especially for those that don’t have the best credit score. Such applicants usually find it hard to get competitive loan rates. Even if you don’t get a favourable response from your first loan application, not all hope is lost. Thankfully, there are many avenues you can explore to access attractive loan rates and convenient repayment schedules easily. In today’s post, we share some bits of advice on how to get easy access to loans with low interest rates. 1. Compare All Available Options The best piece of advice you must take into account if you want to get the best possible deal on a personal loan is to compare offers from different lenders. Just because you qualify for a loan doesn’t mean you have to go for it. Rather than going straight to the bank to request a loan, keep your options open. Consult multiple financial institutions, including the online personal loan market. Online loan apps offer personal loans with competitive inte...

When it comes to meeting unexpected financial emergencies, a personal loan is your best bet. There are many personal loan lenders such as banks, NBFCs, and other platforms like FinTech companies that can provide you with emergency funds almost instantly. You can use the funds to fulfill your requirement and repay the loan in easy EMIs. So, you enjoy the dual factors of convenience as well as flexibility, since the loan tenure is set based on your repayment capacity. If you’re unable to get a personal loan (for whatever reason), you can also apply for a private loan using a private loan app. But do these private finance loans come with tax deductions?  Unlike education loans or home loans, there are no special deductions for private loans under the Income Tax Act. However, this doesn’t mean that one cannot avail of tax benefits on such a loan. Based on the purpose for which the personal finance loan was used, you can avail deductions on the loan. There are certain reasons/use...

There are many reasons why you may need to borrow money. You may fall short of cash while making an important purchase, or just need some money to cover an unexpected expense. When you’re in urgent need of funds, quick access to the required funds is what counts. Sometimes, borrowing from family or friends might be an option. But you may still not be able to arrange the required amount quickly enough. In such a situation, taking out a personal loan may be a great idea. A small personal loan will grant you cash very quickly. The fact that it is unsecured makes it even better. A personal loan is an unsecured loan taken from either banks or non-banking financial companies (NBFCs). You don’t need to pledge any security or collateral while availing a small personal loan . You also have the flexibility of using the funds for your personal needs (unlike an auto or home loan). Here are 4 reasons to take out a personal loan: 1. Consolidating Debt Consolidating debt is one of the most...

Personal loans are unsecured loans that you can avail of during an emergency for financial assistance. They can be a saviour, especially in times when you do not have sufficient savings. A personal loan is very a convenient way to arrange for much-needed funds. Whether you want to meet a medical emergency or plan your wedding, you can spend the loan amount as per your requirement. Continuing on this topic, in this blog post, we discuss a few unexpected expenses that you can manage using a personal loan. Read on. Medical Emergencies Throughout our lives, there can be several situations when we or our loved ones might have to deal with major health problems. You would not want the treatment to get delayed only because you fell short of funds, right? While not having enough savings in hand in such times can be a major concern, a personal loan from a money lending app can be of great help. By applying for a loan on a money lending app, you can receive instant financial help with...

When it comes to planning a wedding, every couple dreams of their special day and wants it to be just perfect. Couple this with the fact that we’re in a country like India, and you’ll go from a ‘simple intimate ceremony’ to ‘grand celebration’ within seconds. Wedding celebrations are a big thing in India, which are by and large still considered to be a status symbol for the families involved. Not only this – over the past few years, new trends have also crept in – like pre-wedding photoshoots, bachelor/bachelorette parties, and even having a custom wedding video. Taking care of all these expenses is sure to burn several holes in your pocket. But this is exactly where Special Occasion Personal Loans come in. These are nothing but personal loans for special occasions, offered by banks and NBFCs. Here are 3 benefits of Special Occasion Personal Loans: There’s No Need to Exhaust Your Savings When it comes to arranging funds for a wedding, it is usually the parents of the couple w...

A personal loan is an unsecured loan that is given to individuals by a financial institution, bank to meet the receiver’s personal needs. There are several best personal loan apps available online that provide personal loans in the shortest possible time. To get a personal loan, the recipient of the loan needs to qualify on several parameters, such as employment status, credit history, income, and repayment capacity. Continuing on the topic, in this blog post, we present some important factors you must know when looking to get a personal loan through a money loan app. Have a look.  How the Loan is Used A personal loan can be used for personal financial needs and the lender is not entitled to monitor or interfere in how the borrowed money is used. The money can be used to go on a vacation, finance personal education, medical expenses, wedding expenses, house renovation, and many other uses.  The Eligibility Criteria The eligibility criteria for personal loans vary fro...

Most people avoid taking loans as they think that loans are more of a problem than a solution. People tend to remember the tedious application and approval process more than the convenience offered. Instant loans, however, are changing that for good. Nowadays, there are mobile apps that allow you to request a loan and get it processed in as little as 15 minutes. If you need money instantly, the ideal solution is applying for an instant loan. Many people, however, refrain from taking instant loans due to various reasons. Continuing on the topic, in this blog post, we answer 4 frequently asked questions about Instant loans. Take a look. 1. How important is a high credit score? While most lenders consider borrowers’ loan repayment history, a person can qualify for an online personal loan even if they have a low credit score. Applicants need to complete all the documentation requirements and provide adequate proof of a stable income to get instant loan approval. This works as an ...

Most of us have borrowed money at some point in time to meet an emergency. You know what they say about emergencies, right? It comes without warning when you least expect it. So, taking out a loan to meet a sudden expense is quite normal. But if there's one feeling that borrowers the world over will relate too, it's the embarrassment that comes with borrowing, especially from friends and family members. When you're borrowing from family and friends, they'll even want to know why you need the money. This is even before they tell you if they can loan you the same! None of us like to admit these things, because it's personal. And if it's a small amount loan, then it's even worse. But sudden expenses and spends will continue to happen, causing us to overshoot our budget anyway. So, the next time you need a small sum of money, try a small loan app. Here are some scenarios where they'd come in handy: 1. Day-to-day Expenses Can you imagine having ...