Which apps give loans in lockdown?

When the New Year 2020 arrived, everyone was quite excited about being a part of this unique numbered year. But, little did we know that 2020 will be a challenging year for many in terms of the financial breakdown caused due to the Covid-19 pandemic followed by a prolonged lockdown.

The lockdown was a nightmare for many families and individuals as nothing was operational during the lockdown, employees were sacked, salaries were reduced, daily wagers had no business, and this created an immense financial shortage.

During this turmoil to organise finances, many individuals turned their attention to the instant personal loan apps. Even small cash loans up to 1lakh proved to be a support to manage finances for buying medicines, paying rent, clearing bills, fixing urgent spaces in the house, etc.

Here are some trusted instant loan apps giving personal loans in a lockdown scenario:
Money View approves emergency loans up to 5 lakhs approved within 24 hours, at a tenure of 3 months to 5 years. The processing fee varies from 2% – 8%*, with an interest rate 39%* per annum
Money Tap helps borrowers to avail instant loans up to Rs.5,00,000, at the eligibility of Rs.30,000 earning per month & with a repayment tenure of 3 to 36 months.

SimplyCash is one of the latest instant personal lone apps in India that offers a paperless and hassle-free way of getting emergency loans. The EMI calculator tool gives clarity in calculating EMIs in advance and plan repayment budget in a lockdown scenario. Avail instant loan from Rs.50,000 to Rs.1.5 Lakh with SimplyCash personal loan app.

Home Credit associated with the international Home Credit Group provides an instant loan across 60 cities in India. Borrowers can avail of a personal loan up to ₹2 Lakh. It is a reliable loan app with simple and transparent loan processing.

India Lends instant loan app helps with immediate cash loans within 48 hours. Borrowers can apply for long-term loans up to 50 Lakh. The loan assessment and disbursal process are secured to ensure the borrower’s confidentiality.

Fullerton is a speedy personal loan app for salaried and self-employed individuals. Once all the initial verification is completed, the loan amount is disbursed within 30minutes*. It is a dynamic app that allows borrowers to track their loan status in real-time. *T&C apply.

Besides, the above there are many other instant loan apps available on the Google Play Store for easy availability of instant cash within 24 to 48 hours. Remember, the loan eligibility criteria, interest rate, and disbursal time may differ from lender to lender. So, whichever instant loan app you choose to fix your financial issues during the lockdown, ensure you get an overview of the loan app and then proceed with the application. Apply on a working day and avoid submitting loan applications on a public holiday.

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