Top 3 instant Loan Apps 2021 in Telugu | Best Loan Apps 2021
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True Balance is a 100% safe and secure, lending & financial services platform, steering on the mission of ‘Finance For All”. True Balance has been trusted by over 75 million users across the country. Here, you may avail loan from ₹ 5,000 to ₹ 50,000 for a tenure of minimum of 62 days to 90 days at a low processing fee. The APR ranges from 60% to 154.8%.
Features of Personal Loan which can be availed on the App through its licensed lending partner(s):
– 100% paperless and digital process on mobile
– 24×7 access to loan/money
– Low processing Fee, longer tenure, and attractive interest rate
– Directly disbursed to your bank account
– Pan-India access
– Convenience of payment through various methods.
– Repay on time improves credit score and get access to higher amounts
– Repay Later option lets you pay part of the loan on the due date & extend the repayment term multiple times
True Balance is a PPI license holder which provides an RBI Complaint Wallet and multiple payment options of Net banking, Credit Cards, Debit Cards and Gift cards and has also partnered with NBFCs for granting quick personal loans online.
2. Online Personal Loan App – PayMe India
Online personal loan app to apply loan of Rs. 2000 to Rs. 2 Lakh for a tenure of 3 to 24 months & processing fees of 5% plus GST (Min Rs 100+GST and Max Rs 5,000+GST) maximum APR of 18-35 percentage.
PayMe India has further introduced ‘PayRent’ feature, which enables a customer(s) to pay its monthly rent payment, through Credit Card.
With the option of paying rent through a Credit Card, a customer can free up cash, enjoy the interest-free credit period, and earn reward points on credit card spends.
Example: Loan Amount: Rs 75,000, Tenure: 12 Months, APR: 24% (on Reducing Principal Balance interest calculation), EMI: Rs 7,092, Total Interest Payable: Rs 10,104, Processing Fees (incl. GST): Rs 4,425, Total cost of loan: Rs 85,104.
• 100% paperless process
• Upto Rs 2 Lakh limit.
• Easy and flexible repayment options.
• Faster approval & sanctioning process.
• Zero – NIL charges on foreclosure.
• Zero – NIL charges on pre-part payment.
• A collateral-free personal loan.
• Convert your short-term personal loan to an EMI term loan.
• Privilege to pay monthly rent payments via credit card.
3. Loanflix Pro – Instant Personal Online Loan App
Loan Amount: from ₹1,500 to ₹20,000.
Tenure: flexible tenure from 91 days to 365 days
Interest rate: Depends on the customer’s credit profile and loan tenure. The maximum interest rate is 35% per annum. There are no other costs.
Please follow the steps in the application process and submit the required documents.
• Flexible tenure
The repayment option is available for tenure ranging from 91 days to 365 days.
• Increasing limit
As your credit score improve, the amount will be increased and various repayment methods will be unlocked.
For example: If the loan amount is ₹2,000 and the interest rate is 35% per annum with the tenure of 91 days, the total repayment amount is as follows :
Interest: ₹2,000 * 35% / 365 * 91 = ₹174.52
The total repayment amount: ₹2,000 + ₹174.52= ₹2174.52