Who Is The Best App-based Personal Loan Provider?

By Author: Ankit Verma
Total Articles: 22
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The road to personal loans online is quite concrete thanks to the personal loan apps available for ease of loan application. Whether it is an emergency, shortage of finance or same day loan requirement, everything can be fulfilled by downloading a suitable instant loan app online. So, how do you know if a loan app is good to download or a trustworthy one?

Check nowhere else except Google Play Store for different personal loan apps. This is a trustworthy platform to shortlist a personal loan app for instant loans. Start with reading the loan app features, customer reviews, app rating and the parent company that has launched the loan app. These factors can confirm the credibility of the loan app and borrowers can go further with a loan application online.

Based on individual preference, the best cash loan app can differ. Some borrowers may consider loan apps lending a higher loan amount whereas others may want a loan app not considering a credit score. So, based on individual borrower preference, a personal loan app can be tagged as the best one.

SimplyCash, By Hero FinCorp – Best Loan App for Small Cash ...
... Loans
When a shorter loan amount can also suffice an emergency, it is best to apply for small cash loans on the SimplyCash loan app. Whether new or experienced borrowers, both can avail loan between Rs.50,000 to 1.5lakh at easy terms. Here are some benefits that make SimplyCash one of the best loan apps in India:

• Instant Availability: Loans are approved in the shortest period, within 24 hours to 48 hours of a working day

• Affordable Interest Rate: Fixed rate of interest of 2.08% per month. Being a static interest rate, there is no risk of fluctuation throughout the loan tenure

• Tax Benefits: Most of the tax deductions are on interest and not on the principal amount

• Financial Stability: Personal loans are approved quickly on time. This provides financial stability and saves borrowers from sinking in financial risks and delays

• Collateral Free: Personal loans do not require any security or a guarantor for approval. This keeps your assets safe

• Paperless documentation: E-KYC verification of Aadhar and PAN card makes the loan approval faster

Documents Required and Eligibility Criteria
Eligibility criteria are mandatory for the simple reason that lenders do not want to bear any risks of delayed payment or any kind of fraud. Consider the below before applying for a personal loan online via SimplyCash:

• Age criteria: Borrower should be between 21 - 58 years
• Minimum monthly income for salaried: Borrower should at least earn a minimum amount of Rs.15,000 monthly
• Minimum monthly income for self-employed: Minimum earning should be Rs.15,000 monthly and six months bank statement is compulsory
• Income proof: 6 months bank statement of a salaried or personal account

Submission of mandatory documents for an instant loan requires:
• Aadhar card and PAN card details for E-KYC verification
• Your account should be in any of the accepted banks as listed in the SimplyCash app.

So, the loan app that provides instant loan approval just in time without any hassles is supposedly the best loan app helping in times of financial emergency.