Digital lending has become a convenient and reachable option in India. Thanks to technological advancements, the distance between borrowers and lenders is closing. In 2022, several advancements and improvements cleared up issues in the lending industry.
2023 is forecasted to be a positive year for both borrowers and lenders, continuing the trend of progress. Keep an eye on these five lenders to get a quick personal loan within minutes and keep your finances stable.
RupeeRedee is a cutting-edge digital lending platform founded in 2018, revolutionizing the way India accesses loans. With just a few taps on its user-friendly app, consumers can secure personal loans in minutes. Utilizing technology and data sciences, RupeeRedee bridges the gap for the nation’s underserved population to access lending.
The platform’s seamless process, robust KYC, and commitment to data protection make it a hassle-free choice for customers. With over 4.51 million installs on Google Play Store and an average of 400K website visits, RupeeRedee has become a trusted source for loans. Operating with its own NBFC FincFriends, the platform offers short-term personal loans, using a variety of underwriting methods and adhering to fair practice codes. Experience fast, easy, and secure lending with RupeeRedee.
Established in 2018, GalaxyCard has gained a vast customer base from over 600 cities across India. Its digital credit card can be obtained in just 3 minutes and comes with no annual, joining, or interest fees. Catering to those earning less than 30k a month, GalaxyCard makes credit cards readily accessible.
The app can be easily downloaded for free registration and the application process, solely digital, only requires PAN, Aadhaar, and bank statement information. This streamlines the lending process and eliminates lengthy paperwork and processing times compared to traditional methods.
Established in 2014, LendingKart aims to simplify credit access for small and medium enterprises (SMEs) in India as an NBFC. The company focuses on MSME lending and capital, leveraging big data analytics to assess borrower creditworthiness.
LendingKart streamlines the loan disbursal process, providing faster results than traditional banks.
Established in 2016, LoanTap Financial Technologies is dedicated to providing personalized loan options to millennials.
Based in Pune, the company’s goal is to offer a seamless experience, from application to disbursement, for salaried professionals.
LoanTap strives to provide quick, customer-friendly personal loans that help millennials live the life they want. The platform aims to satisfy its customers by guiding them to the best loan options.
CASHe, based in Mumbai, is a digital lender catering to young salaried individuals. It offers fast, short-term personal loans ranging from INR 7,000 to INR 300,000 with a tenure of up to a year, determined by a borrower’s social profile, merit, and earning potential.
The company leverages its proprietary machine learning platform based on an algorithmic approach.