Why Apply for a Personal Loan through App?

Why Apply for a Personal Loan through App?

There are various personal loan apps are available that provide quick cash loans. Personal loan apps are a hassle-free, fast and paperless way of getting a personal loan. As the internet has revolutionized the way the world works. Today one can buy anything from vegetables to a Smartphone and more online, with a comfortable home. Personal loan app has made the loan processing a lot faster, easier and convenient. Personal loans online can be applied with the requisite scanned documents, and the loan amount can be received directly in the bank account.

A few years back, apply personal loan used to be a cumbersome task. As people found complying with a ton of documents and a rather complex process that involved a huge amount of paperwork.  But with the help of technology if you need a personal loan you don’t need to look past your mobile phone.

The banks, NBFCs, lenders, financial institutions and online lending platforms have now well understood the importance of technology to make life simpler for the borrowers. They have developed personal loan apps, which are available online and are downloadable on a smartphone.

Applying for a personal loan online through the app to meet the financial support is a wise decision. If you’re on the fence thinking whether or not to use a personal loan app, here are a few reasons why you should install it today.

In case of emergency cash requirement, you can apply for a personal loan 

A personal loan app is like financial support in your pocket. You can use it wherever you go. So, if you encounter an urgent cash requirement, you know where exactly you need to go. Yes, that’s right! You just need to dig out your mobile and apply for a personal loan through the app. It’s as simple as that. The personal loan app acts as the backup in times when you need financial assistance.

It saves a lot of time and efforts

Personal loan apps give you 24*7 access to their services. Whether you are travelling, at work or home, you can apply for a personal loan with a matter of few clicks. A few years ago, you had to make multiple visits to the bank’s branch to apply for a loan. A personal loan application has made the loan process paperless by enabling the uploading feature that saves both the time and effort.

Completely safe and secure

When it comes to personal loan online or personal loan apps, you worry about privacy and security is quite understandable. Be assured that loan apps are 100% safe and trustworthy. There is no risk of losing money, but it is your responsibility to safeguard personal information with a secure password. Nowadays almost every personal loan app has advanced encryption technologies to ensure that the financial and personal information remains safe.

Fast loan approval and instant cash access 

Personal loan apps are much faster. These online loan apps are simple and straightforward in use. Once you apply through the app, the lending decision is made within a short time and you get a quick cash loan faster than you can ever imagine.

Stay updated and keep track of all the transactions

It is easy to keep track of online borrowing. Personal loan apps provide a flawless user experience. You can manage your loan online as you can check details to see how much debt is outstanding, how much have you borrowed, and what are the payment dates. Many apps even have the feature of automated notifications of payments through email or SMS reminders to ensure that you never miss a payment.

All-time access to money and information

You have 24*7 accessibility to the cash on your phone. You can do instant transfer into your bank account at any time of the day. The personal loan amount can be used for whatever personal expense you may have, whenever you want and at whichever time you want it. A personal loan app is a big support, especially when you are travelling for a personal or professional reason. Since you have cash available on phone, which you can withdraw anytime from anywhere, you need not worry about carrying an extra amount with you.

A personal line of credit can be used for multiple purposes

Whatever the personal expenses are, a personal line of credit is easily accessible online to you. You can easily apply for a personal loan which can be used to buy a mobile, get meet marriage expenses, for your start-up or go globe tour. A personal loan app goes a long way in making your purchases simple and hassle-free.

Now that you know the benefits of personal loan app, so it’s time to know about some of the best personal loan apps considered by the people:


PaySense is a platform to get a personal loan. This app can be downloaded from the Google Play Store. You can easily install the PaySense app and get a personal loan for vacations, medical emergencies, wedding expenses, buying vehicles or any other financial requirements. It offers a maximum loan amount of Rs. 5 lakhs. The loan amount is sanctioned based on the applicant’s profile. The rate of interest on personal loans ranges from 1.4% to 2.3% per month. You may require to submit the documents to get a loan. 

Kredit Bee

KreditBee is a personal loan app, which is specially designed for young professionals. Even if you are taking a loan for the first time, or don’t have a credit card, you can still avail of loans at KreditBee. One can avail of the maximum loan amount from Rs. 1000 up to Rs. 1 lakh as per his/her requirement. 

Indiabulls Dhani

You can avail a personal loan of a minimum of Rs. 1000 to a maximum of Rs. 15 lakhs by using this app. Indiabulls Dhani offers flexible loan repayment tenure which ranges from 3 months to 36 months. You can get a collateral-free personal loan by using this app. Indiabulls Dhani’s loan app offers a competitive interest rate of 11.99%. One of the best parts of this app that it charges no prepayment charges for the loan Rs. 20,000. To get a loan using this app, you can download this app and provide the PAN number and address for verification. After entering the required loan amount, the borrower’s application will be reviewed. Once the loan gets approved the loan amount directly gets transferred in the borrower’s bank account in a short period.


Afinoz act as a bridge between the borrower and the lender. It also facilitates you with an EMI calculator which helps you with EMI calculation within a few steps in a few minutes. Afinoz App is a platform of complete financial solutions to a diversified range of customer needs across India. It offers customized solutions to you in the sphere of personal loans. Afinoz also has a comparison tool for loan seekers, where different EMI interest rates can be compared. 


MoneyTap is among the best personal loan apps where a borrower can pay interest only on the withdrawn loan amount. You can avail of the maximum loan amount of Rs. 5 lakhs through this App. This app comes with a low-interest rate along with the flexible repayment tenure ranges from 2 months to 36 months. 

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Article Author Details

Shruti Keshre