In several instances, individuals who budget their expenses, end up spending more, primarily due to unaccounted or unforeseen circumstances which crop up. However, the introduction of new technology has played a pivotal role in helping individuals avail quick credit, especially following the rise of FinTech companies.
Unforeseen expenses can include anything from a sudden illness, a job loss, or an emergency home repair. In any situation, shortage of credit can cause delays in resolving the issue.
In such situations, lending platforms provide the reassurance of knowing one has money to fall back on during an unexpected life occurrence.
These applications take minutes to complete and consumers can receive funds on the next business day itself, thus providing a fast and convenient way to borrow small amounts of money.
Here are five such platforms catering to quick lending needs of customers:
Loantap is an online platform committed to deliver flexible loan products to salaried professionals. It helps users choose custom made loan products from an array of offerings by its NBFC and banking partners, like Overdraft Facility, Credit Card Takeover Loans, Rental Security Deposit Loans, Advance Salary Loans and consumer durable loans.
Happy Loans provides a service that aims to quickly connect customers with a lender that offers loans that may work for them. People across the country use personal loans to help them pay for emergency expenses like medical expenses, mechanic fees, and bills.
Qbera is an online lending platform that provides fast, frictionless, and fair personal loans to professionals. Launched in February 2017, the company provides lending services through an end-to-end digital platform, enabling transfer of funds to the borrower within 24 hours of receiving the online application.
InCred is a new-age financial services group that aspires to be the one stop shop for the customers to fund their financial needs. The company endeavors to disrupt the status quo in traditional lending that seems to exclude those most in need of credit, due to outdated, rigid, and often inefficient processes. InCred offers a broad portfolio of products that cuts across four key categories - Affordable housing loans, Education loans, SME loans and Consumer loans
IndiaLends is an online marketplace which offers low-interest personal loans best suited for your needs. At IndiaLends, users can receive personalised loan offers and best deals at the best rate of interest. With IndiaLends online personal loan, borrowers can find a variety of loan options with the interest rates starting from 10.99 percent and loan amount starting from Rs.25,000 to 25Lacs.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)