A short guide to LoanTap and other lenders for taking a personal loan

A short guide to LoanTap and other lenders for taking a personal loan

Personal loans are a great way to arrange money if you are facing a financial crunch. It offers a high loan amount, and there are a plethora of lenders to choose the best one.  They are hassle-free, collateral-free, and have simple, precise steps to apply.

However, the thing is, many borrowers do not know which lender is good. There are a lot of them In the online and offline market. Considering the digital reach we have today, let’s check out online lenders offering a personal loan.

We will discuss LoanTap personal loan, CASHe personal loan, and Kreditbee personal loan; it will be brief, highlighting only essential details.

LoanTap personal loan

LoanTap loan is an NBFC offering online personal loans to salaried individual or self-employed professionals. The loan amount has a lower interest rate with a flexible loan tenure.

  • The loan amount is offered up to Rs 10 lakhs.
  • The rate of interest starts at 15% P.A, going up to 24% per annum.
  • The processing fee is levied 2% of the loan amount.
  • The loan tenure is up to 5 years.

Features & Benefits of LoanTap instant loan

    • LoanTap offers a high loan amount to cover any financial emergency.
  • The application form is simple. On its app or website, the user-friendly interface makes it easy to apply.
  • The loan is collateral-free, thus not giving headache for arranging a guarantor.
  • There are customized personal loan depending upon your need.
  • Wedding loan
  • EMI Free loan
  • Rental deposit loan
  • Premium bike loan
  • Advance salary loan
  • Holiday loan
  • EMI Free loan
  • The loan tenure is flexible.
  • The loan is quickly processing depending upon borrower creditworthiness.Also, sometimes, there is a particular personal loan for Oracle India employees. However, the offer is not always available.

The eligibility criteria for LoanTap personal loan

  • The applicant’s age should be minimum of 23 years to be eligible for the loan.
  • The applicant’s minimum salary should be at least Rs 30,000 per month.
  • The applicant should have 2 years of working experience.
  • The application should be a salaried individual or self-employed professional.

The documents required for LoanTap personal loan

  • Identity proof – Aadhar card, PAN card, Passport, driving license
  • Address proof – Water bill, electricity bill, lease agreement
  • Bank statement for previous 6 months
  • Salary slips for the previous 3 months

How to apply for a LoanTap personal loan?

Download the LoanTap app from the Google play store or visit its website to apply. The process is easy to follow. If you face any issues, email them at info@loantap.in.  Now, let’s check out CASHe loans.

CASHe personal loans

A young professional should choose CASHe loans if the requirement is for a short time. The eligibility criteria are easy to qualify. The loan is collateral-free, having quick processing.

  • CASHe offers a loan amount up to Rs 3 lakhs.
  • The rate of interest is a minimum of 2% monthly.
  • The processing fee starts at 2%.
  • The loan repayment is up to 1 year.

Features of CASHe personal loan

  • CASHe has its system to rate a borrower’s risk capability.
  • It is called the Social loan quotient( SLQ).
  • The process is entirely online without the need to visit the lender’s office.
  • It requires a basic document.

The eligibility criteria for CASHe personal loan

  • The applicant’s age should be minimum of 18 years having a social media account.
  • The application should have a bank account with a minimum salary of Rs 15,000 per month.
  • The applicant should have valid address proof.

Required documents for CASHe personal loan

  • Identity proof – Aadhar card, PAN Card
  • Address proof – the electricity bill, lease agreement, utility bill
  • Bank statement and salary slips

How to apply for CASHe’s loan?

First, go to the Google play store to download CASHe app. After registering on the app, fill out the loan application submit it. After the verification process is completed, the loan amount is disbursed. In case you face any issues, email them at Support@cashe.co.in.  Now, let’s check out the last lender Kreditbee loans.

Kreditbee personal loan

Kreditbee personal loan is a special lender because of one reason. It does not hesitate to offer the loan even to those borrowers who do not have a credit score or have never taken a loan before. Whether you need it for a medical emergency or wedding shopping, a loan is available.

  • Kreditbee offers a loan amount up to Rs 2 lakhs. The minimum amount provided is Rs 1,000.
  • The rate of interest starts at 1.5% per month.
  • The loan tenure is from 2 months to 15 months depending upon the loan amount.
  • The minimum processing fee is Rs 130, and the maximum is Rs 850.
  • The late payment penalty is Rs 500 + 0.15% of the loan amount.

The eligibility criteria for Kreditbee personal loan

  • The applicant should be an Indian citizen.
  • The applicant’s age should be above 18 years.
  • The applicant should have a steady source of income.
  • The applicant’s Aadhar card should be linked to the mobile number.

The required documents for Kreditbee personal loan

  • Identity proof
  • Address proof
  • Passport size photographs
  • Bank statement
  • Salary slips

How to apply for a Kreditbee personal loan?

Kreditbee app is available on the Google play store. Download it to apply for a personal loan. In case you want to contact their customer care, mail them at help@kreditbee.in.

The conclusion

When we compare all of them, LoanTap is the perfect choice for a higher loan amount. However, it also has a high-interest rate corresponding to the other two lenders. For a lower amount, you could choose between Kreditbee and CASHe personal loan.

All of them have dedicated apps available on the Google play store. So, the application process should be easy and quick. Their processing fee is almost similar, so you have to carefully examine the other charges, determining the total cost of the loan. We hope this short post will help you in making a decision.

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