With the help of these apps, you can get a loan from your smartphone itself!

In this era of technology, to avoid the ‘paper hassle’, today’s generation prefers to go to digital platforms for facilities like flight, railway, bus tickets and making Aadhar-PAN cards. To get a loan, many government and private banks are providing services by submitting the necessary documents on their apps. If you are looking for a different option to get a loan, then you can turn to some apps that provide ‘instant’ loans. The use of apps with services like home loan, car and bike loan and personal loan is in trend these days.

After uploading the required documents, these apps check your credit score based on CIBIL score and if you are found eligible, you can get a loan within the stipulated time frame. Let’s know about 4 such apps…

PaySense

This one named Patience App It claims to provide you loans for everything from medical emergencies to buying a smartphone. The initial conditions of this app are that the applicant should be a salaried employee and he should have a salary of at least Rs 15,000 per month in his bank account. The age limit of the applicant should be between 21 years and 60 years. Along with all the conditions, this app promises to provide you the amount within 3 to 4 working days. You can read the rest of the rules of the app by going to Playstore before or after downloading it. Another special thing to tell you is that the Patience app has an agreement with NBFC (Non Banking Financial Corporation) IIFL. NBFC is actually an institution affiliated to the Reserve Bank, which currently has 35 lakh customers. The rating of this app on Google Playstore is 4 plus.

Pocket

This App So far, about 1 lakh users have installed it on their smartphones. This app with a rating of more than 4.5 on Google Playstore provides loans to the needy. This app especially claims to provide loan amount to students in their need through Paytm. This app has described itself as a marketplace that connects needy people with people and companies that provide loans.

Upwards Quick Loan

It has 4 ratings on Google Playstore App It claims to provide you a loan of Rs 15,000 to Rs 50,000. The company provides loans for expenses like buying two-wheelers, medical emergencies and building a house. This company gives money to eligible applicants through Bajrang Investment Private Limited, an NBFC affiliate.

CASHe – Instant Personal Loans

It has a 4 plus rating on Google Play Store App It can provide loan to the applicant from Rs. 10,000 to Rs. 2 lakh. The app claims that if the applicant is found eligible as per the terms and conditions, then the loan will be approved in a few minutes without any paperwork and time wastage. More than 5 lakh people have used this app so far. This app provides loan from NBFC affiliated Bhaanix Finance and Investment Limited.

Let us make it clear that we have not used any of these apps for personal use. For your convenience, we have prepared a list based on the feedback given by Android users on Play Store. If you are in need, you can use these apps. After this, you can share your experience with us.