5 Best Apps For All Your Short Term Loan Needs

Digitalization has taken over and almost everything can be done with one small gadget, your smartphone! From buying groceries to investing money, all the chores can be carried out with convenience. Similarly, one can simply apply for personal loans via their smartphone without visiting any physical branch or a bank. One can easily take short term loans sitting at home or at the office.

The small loans provided by such apps are unsecured loans which means you don’t have to submit any asset ownership documents to avail it. Young professionals prefer short term loans online compared to traditional loans as it gives freedom of accessibility. There are many lenders in the market that give small loans with minimum documentation to its users.

Below are the 5 best apps for getting personal loans

Capital first: The reason for getting small loans can be anything, right from medical emergencies to buying a large asset, Capital first lets you take instant loans. It also gives you personalized loan offers for your needs.

CASHe: One can get short term loans with CASHe starting from INR 10,000 to INR 2 lakh. The tenure of the short loans with this app is 15, 30, 90 and 180 days. The documents required are minimal and the process is much smoother. No physical visits to the bank are required. If your loan is approved the cash is disbursed in your personal savings account within a few minutes. The process of the application takes just 15 minutes.

Credy: Credy offers personal loans up to INR 1 lakh with interest rate as low as 1-1.5%. This app is available for all the individuals who are salaried with a salary of minimum INR 15,000. Small loans are offered by Credy in Bangalore and Chennai.

Cashiya: To apply for a personal loan via Cashiya you need to be between 21 to 60 years old and a minimum of 650 CIBIL score that is your credit score. Along with providing instant loans, this app also manages your finances. They offer insurance policies for your health and offer investment plans for your retirement.

Smartcoin: This app will provide you instant loans on the same day of application. You need to upload your bank details along with your identity proof, a selfie and the loan amount. It lets you borrow within the range of INR 1,000 to INR 50,000.

These are the best 5 apps that provide short term loans hassle-free to its users. All of these apps are quite user-friendly and can be accessed by most of us via google play store and apple app store. The entire process of application for personal loans in very short compared to bank loans. If you are worried about your credit scores, you can try CASHe, as it offers instant loans by studying your social behavior rather than your credit scores.