Loan App

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Find out the merits of downloading an Instant Loan App.

Key Takeaways

• Loan apps enable you to apply for a wide variety of loans.
• You can apply for Personal Loans, Home Loans, Vehicle Loans, etc., through loan apps.
• Loan apps allow you to complete the loan process with 100% flexibility and transparency.
• You can enjoy fast-track fund disbursals directly into your bank account.
• Your digibank by DBS mobile app doubles as your instant loan app.

A loan is a financial facility that helps you obtain funds for your various needs like buying a home, a car, or a smartphone. Earlier, the process of acquiring a loan was rather tedious. It involved mountains of paperwork and long waiting periods. But today, you can apply for a loan by tapping a few buttons on your internet-enabled smartphone and get instant credit in your bank account. All you have to do is download a loan app. Let us find out how downloading online loan apps can prove beneficial for you.

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Five Reasons to Download Loan Apps

1. Choice of Loans

   Loan apps give you instant access to a variety of loans. You can choose from Personal Loans, Home Loans, Vehicle Loans, Vacation Loans, Student Loans, etc. You can select your preferred loan type and begin a hassle-free loan application process.

2. Flexibility

   An online loan app allows you to apply for a loan at any hour of the day. You do not have to bother with multiple visits to the lender's office during working hours. It is a time-saving, digital process wherein you just need to download the app on your phone and send your application in seconds.

3. Faster Loan Processing

   Most lenders today offer instant loans, which means that you can complete the entire process from application to sanction and loan disbursal within 1 – 4 days. The lender directly credits the loan amount into your bank account. Faster loan processing proves incredibly worthwhile when you need money during financial emergencies.

4. Transparency

   Instant loan apps in India provide all the necessary details you need about a loan in a straightforward, transparent manner. You can even calculate the maximum loan amount you can get and compute the estimated EMI by using Eligibility and EMI calculators. Based on the type of loan you need; you can check the interest rates and repay the loan over comfortable tenures ranging from 1 to 30 years in pocket-friendly EMIs.

5. Minimal documentation

   You do not have to bother with detailed documentation processes with loan apps, especially when you apply for instant cash loans. For instance, if you apply for a Personal Loan, you just need to fill out an online form and submit scanned copies of basic documents. Scan and upload your ID and address proof, latest salary slips, and a copy of your credit scores. If you are eligible, the lender credits instant money into your account.

Download digibank by DBS Loan App

Your digibank by DBS Mobile Banking App doubles as your instant loan app. The app allows you to obtain various types of loans. You can download the app at the time of opening your digibank Savings Account. Like the loan application, you can instantly open the account online by submitting your PAN and Aadhaar card and completing the e-KYC process. As a digibank account holder, you can enjoy fast-track loan approvals.

Download the digibank mobile app on your smartphone. Launch the app and click on the "Get Personal Loan" link on the login page

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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.