In today’s busy world, financial emergencies can occur at any time. Be it a medical emergency or a sudden repair, the need for quick cash is often urgent.
What do you do when you need immediate money to deal with an emergency?
The ideal option for you is to take a personal loan here is the best instant loan app in India without salary slips. While almost all financial institutions and banks offer personal loans, the process can be time-consuming. Documentation processes can be cumbersome.
Furthermore, you need to have an impeccable credit record. Obtaining a traditional bank loan can be long and complicated, especially if you need a salary slip to prove your income. It is where instant loan apps without pay slips come in handy.
These apps provide quick and hassle-free loans without the need for income proof.
Let’s discuss all the details about the “Best instant loan app in India without salary slip” in this article.
What are Instant Personal Loans?
Instant personal loans are a type of financial product that provides individuals with quick access to unsecured funds for various personal expenses. These loans are typically offered by banks, credit unions, online lenders, or financial technology (fintech) companies. The defining feature of instant personal loans is their swift approval and disbursement process, allowing borrowers to access the funds they need within a short timeframe, often within a few hours or even minutes.
Also Read: Personal Loan vs Car Loan
List of Best Instant Loan Apps in India without Salary Slip
Here are the 15 best instant loan apps in India without salary slips in India:
1. Money Tap loan
This is the one of instant loan apps Downloading the Money Tap app from the Google Play Store or App Store is the first step in a safe and straightforward process. Next, fill in the details like age, city of residence, PAN, and income to determine your eligibility for the MoneyTap credit line.
Then, complete the KYC formalities and use the funds after getting the necessary approvals. The platform offers users up to Rs 5,00,000 for travel and other needs. Using this app, you won’t have to go through lengthy paperwork or wait in line. It also charges a monthly interest rate of 1.07% to 2.2% on the loan amount.
So, this loan app without a salary slip is perfect if you are somewhat commitment-phobic and don’t want to take the entire loan amount. Flexible EMI options are available with MoneyTap.
2. Paysense
If you need an instant loan at a low interest rate and no need for a pay stub, PaySense is an excellent option for instant loan apps. It is a trusted instant loan app that has merged with LazyPay to become an industry leader in the same field.
PaySense has complied with PayU Finance India Private Limited, IDFC First Bank, and HDB Financial Services Limited. The application process, approval, disbursement, and documentation are quick. Interest rates range between 16% to 36% per annum.
The repayment period extends to a maximum of 60 months. Both full-time workers and self-employed individuals can apply for personal loans from PaySense.
3. Anytime Loan
If you want to take a loan but cannot because you are not salaried, this news is for instant loan apps! AnyTimeLoan can be the solution to your problems. They provide loans to salaried and self-employed individuals by connecting them with suitable lending partners.
They also allow you to apply for loans through the app and get them approved within minutes. Once consented, your loan is instantly transferred to your bank account. AnytimeLoan will require some collateral or guarantor. We also offer K12 education loans, personal loans, and business loans.
4. Home Credit
Home Credit offers loans up to Rs. 5 lahks with a repayment tenure of up to 2 years. The instant loan app’s eligibility criteria are relatively generous, making it an excellent option for people with little credit history.
It is one of the most accessible online instant loan portals for individuals between 19 and 64 without submitting their salary slips. Submit your PAN card and other ID/address proof documents to avail of the Home Credit Loan.
5. Mpockett
One of the more popular small cash instant loan apps, MPokket, focuses on providing loans to students and people who still need formal income documents. They generally lend between Rs 500 to Rs 30,000.
Their monthly interest rates start at just 1%. Borrowing from Mpokket has a quick loan processing time, with credit available within 2 minutes of applying for the loan. The app will lend you money for various periods ranging from 61 days to 120 days.
The company charges processing fees based on the amount borrowed; You will also have to pay GST on the processing fee. Identity proof is required, such as a Voter Card/Driving License/Passport/Aadhar Card/PAN Card. If the applicant is a student, a college ID card is required.
6. Money View Loan
Money View is unique because it has a credit rating model that helps determine the maximum instant loan app eligibility for an individual. Customers can check their loan eligibility in 2 minutes by submitting their mobile number and completing the process of OTP verification. However, applicants must complete KYC formalities before availing the loan.
Moneyview offers loans up to Rs. 5 lakh with a repayment incumbency of up to 5 years. The app’s user-friendly interface and fast approval time make it a popular choice among borrowers for instant loans without salary slips.
7. IndiaLends
IndiaLends offers loans up to Rs. 50 lakh with a repayment tenure of up to 5 years. The instant loan app has a wide range of loan products, making it an excellent option for those seeking a customized loan app without salary slips.
8. Rupeelend
This is a digital finance company that provides short-term loans to its customers. RupeeLend has offices in most major cities, and their app offers a new way to request a loan so this is one of the best loan apps without salary slips. And for this reason, this app is the best instant loan app in India without salary slips.
The app eliminates unnecessary paperwork and phone calls and follows a system that provides immediate access to customers in need. RupeeLend understands that some borrowers need funds, so they work hard to ensure that they receive funds quickly and easily.
RupeeLend is one of the fastest instant loan apps in the country due to its instant loan customization feature, easy loan disbursement to new or returning customers, and quick approval time. If you decide to close your RuPayLend loan, you will not be charged any hidden fees.
9. Kreditbee
KreditBee has earned the reputation of being one of India’s most user-friendly loan apps. The app offers loans up to Rs. 2 lakh with flexible repayment options, and the best part is that you can apply for the loan 24/7.
Kreditbee is one of the best instant loan apps in India without salary slips, Most of the customers consider this app because it is easy to use.
10. CASHe
Cashe offers one of the most user-friendly interfaces and the best loan app without salary slips. The user must upload the required documents and complete the verification process before clicking on the credit line and setting their limits.
Furthermore, this app allows users to get a single approval for multiple loans simultaneously. CASHe loans are available for a maximum amount of Rs 5 lakh, with interest rates starting from 1.75%. This app allows direct deposit into your bank account.
Additionally, users can set up auto-debit facilities from their bank accounts to facilitate easy and timely payments. CASHe has partnered with e-commerce retailers like Amazon, Big Basket, Flipkart, etc., under the Buy Now, Pay Later scheme.
11. Cashbean
Cashbean is a quick and easy way to get the needed capital. If you need a loan, apply today and you will be approved quickly. Because this is the best loan app without salary slips. Apply through their mobile app or from your computer, and we’ll handle the rest.
We’re committed to using technology to make financing quick and easy so you can focus on what’s most important to you. Cashbean is the best instant loan app without salary slips in India.
12. Finable
Finable offers loans up to Rs. 5 lakh with a repayment tenure of up to 4 years. The app’s relatively generous eligibility criteria make it an excellent option for people with little credit history. This offer makes Finable the best instant loan app without salary slips.
13. Smart Coin
Smart Coin was launched in 2016 and partners with RBI-registered NBFC. In this app, you can buy gold along with an instant loan and get a good reward on every gold purchase it is also the best loan app without salary slips. I
In Smart Coin, you will get a personal loan from Rs. 1,000 to Rs. 65,000 without any salary slip or bank statement; in this app, you will get a loan from 91 days to 260 days.
14. Flex Salary
FlexSalary offers instant disbursements as an advanced salary app. You can choose the tenure of your loan, and you have to repay the amount at your own pace. It is ideal for borrowers with variable income or working hours who want to manage their finances. Sign up for the mobile app and upload the required documents, and your application will be approved instantly.
15. Dhani
Dhani is an e-commerce and instant loan app without salary slips from India where you can shop at no cost EMI and avail of instant personal loans ranging from Rs.1,000 to Rs.15 lakh this is the best loan app without salary slips.
How to Choose the Best Instant Loan App for You in India?
Choosing the Best Instant Loan App In India Without a Salary Slip that suits your financial needs and circumstances requires careful consideration and research. Start by assessing your financial requirements, the loan amount you need, and the repayment terms you can comfortably manage.
Next, consider the following factors:
1. Credibility
Opt for a reputable and well-established loan app. Research the company’s background, customer reviews, and ratings to ensure trustworthiness.
2. Interest Rates and Fees
Compare interest rates, processing fees, and any hidden charges across various apps. Look for the most affordable option that aligns with your budget.
3. Eligibility Criteria
Ensure you meet the app’s eligibility criteria, such as minimum credit score, income requirements, and documentation.
4. Application Process
Select an app with a straightforward and user-friendly application process. Quick approvals and disbursements are essential for instant loans.
5. Security and Privacy
Verify that the app employs robust security measures to protect your personal and financial information. Data privacy is crucial in the digital lending space.
6. Customer Support
Check for responsive customer support in case you encounter issues or have questions during the loan process.
7. Repayment Flexibility
Look for apps that offer flexibility in terms of repayment methods, including the ability to make early payments without penalties.
8. Credit Reporting
Some apps report your repayment behavior to credit bureaus. This can be beneficial for improving your credit score if you make timely payments.
9. Transparency
Ensure the app provides clear and transparent loan terms and conditions, including the total cost of borrowing and repayment schedule.
Conclusion
Everyone will find the best instant loan app without a salary slip in India as per their choice. Personal loans have become popular because they are available instantly without much documentation. Furthermore, this feature allows users to access the loan in any way they want to meet their immediate financial emergencies. Moreover, these instant loan apps become instantly popular due to the lack of collateral and easy repayment terms.
Best Instant Loan App without Salary Slip – FAQs
How can I take a loan without a salary slip?
Ans. You can take an instant loan from Moneyview without a salary slip.
Can I take an instant loan without a salary slip against FD?
Ans. Your loan eligibility amount will be approximately 74% of the amount deposited in your fixed deposit.
How do you take an instant loan app without a salary slip from the Cashbean app?
Ans. You can avail of the loan instantly from the app.
Which is the best instant loan app without salary slips in India?
Ans. Pay- Sense loan app is the best instant loan in India.
