Have you been hit by a sudden need for money but don’t want to borrow from someone? Well, you can now be on your own and yet get your demands fulfilled through apps that provide small loans instantly. Here we list four loan apps that can get you a small loan in as less as 12 hours without the hassle of visiting the bank.

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Bajaj Finserv Experia

Bajaj Experia app offers a one-stop solution to all your personal loan needs. You can apply for small, as well as extensive personal loans within the user-friendly app. This loan app takes just 24 hours to disburse your loans.

The application checks your credit score and provides instant loan approval with minimal documentation. You can check all your loan standings and apply a loan up to 25 lakhs.

Steps to apply

  • Install the Finserv Experia App for mobile or iOS loans apps
  • Fill in you salaried account details as well as personal information
  • Check for eligibility of easy loan amount, which will get approved in a few hoursĀ 
  • Bag attractive loans at the rate of as low as 2% per month
  • You can choose between the tenure from 12 to 60 months and would have to pay a small processing fee too.

PaySense

PaySense is among the top small instant loan apps, but their loan acceptance is only for salaried individuals. The app is easy to navigate and features many user-friendly functions to track your credit score and more. Easy loan approvals are quick, and it takes as little as 5 hours to get loans approved.

Steps to apply

  • Install the PaySense loan app on Play Store or the App Store
  • Fill in your credentials, salary details, and personal information
  • Fill in your loan requirements and submit for quick loan approvals
  • You’d also have to submit your KYC and EMI details
  • You can e-sign your application and get the money in about 6 hours

MoneyTap

MoneyTap is another instant loan app that offers loans for both salaried employees as well as self-employed professionals. The credit requirements are a bit high. You can’t avail loans with this app if you are under the age of 23, so it isn’t a great option for college students pursuing bachelors. You need to earn at least 20,000 a month to avail loan from this one.

Steps to apply:

  • Install the MoneyTap Credit Line loan App and register your account
  • Fill in your details and complete your KYC
  • Once your loan has been approved, you can use the app as a card as well as cash
  • You can convert your loan into flexible EMIs through a single tab
  • The app interface is quite friendly and smooth. You can keep track of all your transactions within this app, which helps limit your budget.

Shubh Loans

Another one of the digital lending apps out there, Shubh Loan app, also suggests ways to improve your credit score and become eligible for a loan quickly. You can also get loans of higher value using this app, although the interest rate is higher in that.

The app provides instant funding on a loan approval, and you can expect money transfer within hours of support.

Steps to apply:

  • You need to download the Shubh app exclusively for Android and then login using your Google account
  • Fill in your details and complete your profile
  • You’ll then receive your free Shubh Loans credit report
  • Apply for a loan on the app if you’re eligible for it
  • Select EMI options and get money in your account within hours
  • You can then start paying monthly installments to improve your credit score

The quick disbursal feature of these apps is a reason behind their popularity these days. Apps like Bajaj Experia can even get you a higher amount of loan within hours, although that requires a good credit score.

Most of the work done here is online, so it’s a convenient way to get emergency money.