Instant Small-Value Loan Apps: Meeting The Rising Demand Of The Younger Generation

Author:
Publish date:
Updated on

When young twenty-something professionals decide to make their dream of relaxing and spending an extended weekend in International paradise a reality, raising quick money can pose a big problem. Parental assistance is definitely out of the question while personal loans and credit cards from the banks are too time-consuming and expensive.

However, help can come from an unexpected source— their smartphones.

With the advancement of technology, digital lending platforms are stepping in to meet the rising demand of the young and footloose generation by offering them instant small-value loans with quick disbursals and attractive repayment schemes.

So, if you are one of those young individuals who need instant money, here are some of the best instant small-value loan apps you should definitely try.

i. PaySense

Founded by Prashanth Ranganathan and SayaliKaranjkar, PaySense is another great company that offers instant cash loans online, through their loan app as well as their website in India.

Applicants may use their laptop or phone to check eligibility, submit details, apply for a loan and receive approval in just 5 hours.

The company offers personal loans of up to ₹ 2 and users can take loans from ₹ 5,000 up to the approved limit. Moreover, PaySense offers an EMI calculator that users can use to check how much their monthly installment will be.

ii. Virgin Money

This financial services brand is currently available in the United Kingdom, South Africa, and Australia. The Virgin Money app offers a secure, safe and cashless way to transfer money to friends, make payments and purchase data and airtime wherever you go.

link - flickr.com

link - flickr.com

It also allows you to cash out money to your bank account, take personal loans, top up your wallet using either EFT or linked credit cards and so much more!

iii. Kabbage

Kabbage is a US-based lending app that provides the world’s easiest and fastest way to lend money for your business operations. Young entrepreneurs can start a new business as well as expanding their existing business through Kabbage loans.

The app can even deliver $100,000 to you in just 7 minutes on your smartphone. Once you have registered yourself and qualify to use the app, you can view the entire transaction.

Kabbage app also provides the best service to businesses like auto shops, restaurants, and spas and provides the users with the detail of working capital and allowing them to get a loan while doing their job.

iv. Home Credit

The international Home Credit Group has a presence across 10 countries in Asia and Europe. The personal loan app can offer personal loans with a repayment term that ranges from 9 months up to 4 years. It also makes financial services transparent, simple and easily accessible to you. The app offers product installments on certain partner companies.

v. MoneyTap

This is India’s very first app-based credit line with a great feature of no-usage-no-interest that makes repaying credit much more affordable. Because of this feature, you only pay interest on the amount you use.

It is a personal loan app that provides a line of credit to customers and works like a credit card or an instant loan. MoneyTap is a money lending organization with flexible interest rates and is currently providing their services to clients in Chennai, Bangalore, Mumbai, Delhi and over 30 cities in India.

vi. SBA

Short for Small Business Administration, the SBA app has been released to help small business owners with a range of topics. This mobile app consists of a starting cost calculator which can help young entrepreneurs determine how much money they’ll need to start their business as well as maintaining their running business.

The app also gives you a clear idea of the amount you will need to borrow from the lender. Furthermore, it has a finder feature which allows a user to locate SBA and SCORE as well as offering the latest features from SBA Twitter and social media feeds.

With this app, users can easily manage their finances, expenses, bills, and assets.

vii. MoneyMatch

MoneyMatch is an online peer-to-peer marketplace which allows lenders or investors to invest in loans and borrowers’ access loans. They offer fixed monthly payments, flexible interest rates, no hidden fees, and a super hassle-free application process!