Choosing the best loan app for your smartphone can be confusing, especially with so many apps to choose from. Luckily, there are a few key features to look for, and some key differences to watch out for.
Lendigo
Using the Lendigo loan app is a great way to get a loan for your business. It’s easy to apply for a loan and get the money you need in less than an hour.
Lendigo offers business loans to small and medium sized enterprises. They offer loans to businesses in all industries, and the amount of money you can borrow varies depending on the nature of your business. The Lendigo Loan App is a great tool for startup loans, and offers loans from N100,000 to N10,000,000.
The Lendigo app is available on different devices. You can access it via the web, or on your mobile phone. You will need to set up an account with Lendigo and fill in the application form. Once your application is approved, you will receive your loan in about 48 to 78 days. You will also be required to make a 15% security deposit.
Fullerton InstaLoan
Using the Fullerton InstaLoan app is an easy way to get a loan. This app is available on both Android and iOS devices. This allows you to apply for a loan anytime. Moreover, you can check the maximum loan amount and interest rate. This app is a great option for those who need to fund education, home renovation, medical emergencies, travel expenses or aspirations.
The Fullerton InstaLoan app also allows you to manage your account online. This means that you can get your loan approved within minutes.
If you are self-employed, you can also use this app to apply for a loan. This app requires you to upload your documents. This includes your income proof. Moreover, you can also upload your TDS certificate.
You can also check your eligibility by using the Fullerton India InstaLoan eligibility calculator. This app is also available on the official website.
KrazyBee
Using the KrazyBee loan app, one can easily borrow money without much hassle. You can get your loan amount within 24 hours and repayment can be made in 12 days. Moreover, you can use your KrazyBee funds to pay for your college expenses, laptop, two-wheeler, and other electronic gadgets.
In the first half of 2017, KrazyBee had disbursed 20,000 loans worth Rs 7 crore. It plans to expand to six more cities in the next year.
KrazyBee offers unsecured personal loans to young professionals. Its loan tenure varies from six months to one year. Its tenures are based on merit-based algorithms. Its APR ranges from 1% to 3% per month.
KrazyBee has offices in Vellore and Bangalore. It is supported by ICICI Bank, Mirae Asset, and multiple debt partners. KrazyBee has an NBFC licence and is registered with the RBI. It aims to build its lending sphere across India. It is also in the process of raising another round of funding.
RapidRupee
Getting a loan online is easy with a number of loan apps. A quick search on the Google Play Store will give you a few options. Some of the top apps include MoreRupee, Dhana Dhan Loan, CashNow, Cash Port and Cash Elephant. All of these apps have a user-friendly interface. The best loan app is one that makes you feel secure.
The best loan app will offer you a credit line, a repayment module and bill reminders. It will also give you a credit rating model that is reliable and speedy. The best loan app also has a built-in expense tracker. The best loan app will offer you a loan that is the best fit for you.
The best loan app will offer you instant personal loans. You can get loans between Rs 1,000 and Rs 60,000. These loans are available to salaried and self-employed applicants.
Umba
Among all loan apps available in Nigeria, Umba stands out for its convenience and security. In addition to offering loans, Umba also lets customers pay bills online. It has over 200,000 downloads on the Google Play Store, and has a 2.7 star rating.
Founded by former Munster rugby player Barry O’Mahony, Umba is a digital bank that serves the emerging markets. It initially launched in Kenya, but has since expanded to Nigeria and other African markets.
Umba uses data from your phone to verify your identity. The app generates a credit score based on your SMS history. Currently, Umba offers loans with repayment terms of up to 62 days. Its interest rate is estimated to be 10%.
Umba offers loans for up to 30,000 Naira. There are no origination fees, rollover charges or penalties for early repayment.
