In the current age of technological advancements, the process of borrowing money has become paperless, hence minimising the hassle to a great extent. Even for self-employed individuals, getting a loan has become much easier. Keep on reading to know about the best instant loan apps for self-employed.
Self-employed people often find hurdles in their way to getting a personal loan. As they do not have a fixed monthly income, lenders are hesitant to offer them loans with good interest rates and repayment tenure. But thanks to the current advances in the field of financial technology, self-employed individuals can easily avail of financial assistance via an instant loan app for self-employed people.
Best Instant Loan Apps for Self-Employed
We have curated a list of the best instant loan apps for self-employed individuals. If you are a self-employed person and need a personal loan, these are the best personal loan apps that you can find in the market. They offer reasonable interest rates and flexible repayment tenure.
Check out the table below for more information about these apps.
Loan App Interest Rate Loan Amount Processing Fee Age Eligibility Repayment Tenure
Buddy Loan 11.99% p.a From Rs.1000 and up to 15 Lakhs 2% of the sanctioned loan amount + GST Between 18 to 60 years 6 months to 5 years
PaySenseApp 1.4% – 2.3% per month Up to 5 lakhs Up to 3% of the loan amount Between 21 to 60 years 3 to 60 months
Money View App 1.08% p.m. or 36% p.a. From Rs. 3000 and up to 5 Lakhs
Rs. 3,000 – Rs. 199 + GST
Rs. 5,000 – Rs. 399+ GST
Rs. 10,000 – Rs. 499 + GST
Rs. 25,000 and above – 2% of the borrowed amount + GST
Between 23 years to 55 years Up to 5 years
CASHe App 2.25% per month onwards From Rs 1,000 to Rs 4 Lakhs Up to 3% of the loan amount Between 23 years to 58 years. 90 days to 540 days
IIFL 12.75%-33.75% p.a. Up to Rs 25 lakhs Up to 2%-4% of the loan amount 19-65 years Up to 5 years
*Note: Bank interest rates change frequently, so check their official websites for the latest information.
Benefits of Instant Loan Apps
Instant loan apps for self-employed have several benefits that make getting financial assistance a lot easier for non-salaried individuals. Here are some of the benefits that these apps offer:
Flexible repayment options
Even though salaried employees have it easy when it comes to getting personal loans, self-employed individuals need not worry. Standing at this where fintech is upgrading at a tremendous rate, there is something for everyone. You can check out Buddy Loan, the largest loan aggregator in India that helps you get your personal loan application approved in minutes. Apply for one today!
In case you have any queries regarding instant personal loan apps or personal loans for self-employed individuals, drop them in the comments section and we’ll help you out!
You write to us at email@example.com