Instant Loan Approvals- Fast and Easy to get now
Gone are the days when loan applications used to take 15-20 days for approval and final disbursement. Now it is the era of Instant Loan Approvals. You may downloads apps on your mobile of lenders and get loan approvals instantly. The loan is disbursed within 2-3 Hours.
Role of Mobile Applications
Mobile apps plays a vital role in paper less loan approvals. Availability of 4G Mobile network on android phone made it in the reach of every common man. You may submit your loan request anytime anywhere. There is no documentation and verification required. Just submit your eligibility and details and KYC details in the mobile apps and your loan amount approval is shown on the mobile screen instantly.
Instant Loan from Your Phone
There are more than 100 mobile apps currently active in the loan industry. They are already available in your android phone’s play store. You may check and download them as per your convenience and better understanding. However, We also did a market survey on these mobile based loan applications and found few of them as placed below:
- Dhani – Phone se Loan from Indiabulls
- Money Tap
- Money View Loans
- Pay Sense- Instant Personal Loan
- Shubh Loans- Easy Loans on your phone
- Cashe- Instant Personal Loan
- Early Salary
- Payday Loans- Money in Minutes
- StashFin- Quick and Easy Personal Loans
- Insta Money- Salary Advance and Instant Cash Loans
- LenDen- Instant Personal Loans
- OYE Loans- Quick Credit-Cash in 48 Hours
- Coopa Loans
- Kissht-EMI without Credit Card
- Eazy Loan
- Capital First
- Bajaj Finserv
Due to easy access to fast 4G internet network a huge customer base is available. This has started a healthy competition among lenders making loan an easy and affordable source of credit money.
Pros & Cons of Loan Apps
Now, everything has pros and cons, these mobile based loan apps do have. They have higher rate of interest compared to traditional lenders at Banks. The duration is also shorter. This makes the EMI higher. You get the lower approval of amount compared to traditional loan providers at Bank and NBFCs. But these are noway stopping you to avail the smart and fast loan services offered by these apps. You must consider the repayment benefits before you apply and avail the loans from them.
Expert Advise-Loan Guru
Our Loan Experts at Loan Guru advise you to understand the difference of both tradition and new loan applications. Traditional is good when have enough time to plan and documentation/physical verification process. It normally takes 1 week to 1 month in most of the cases of traditional loans. But in loan apps, it is hardly 1-2 days. The loan amount is lower just to keep the repayment risk lower. The need and urgency of loan is key factor to choose among both. Now be happy that at least you have an option to choose!
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