Up to Rs 15 lakh loan in minutes! Here's how to get quick money without going to banks

If you are looking for a hassle free loan or a easy credit than you must know about these apps that can help you get money in few minutes. Many a times, we don't have enough time to approach a bank or any financial institution to get credit. Applying via these traditional channels sometimes takes a lot of time and energy, therefore in the age of digitalisation; people are opting for these digital platforms that offer quick loans without any guarantee, huge documentation and long processes and approvals.

These pre-approved personal loans have become quite popular these days and have become easy for individuals seeking instant credit in just few minutes. Here are some of the most interesting financial products that can ease your life at such times.

1. Qbera: Gone are the days when self-employed people had to constantly visit banks and relevant government agencies (for additional paperwork) to secure a loan. All they now need to do is log on to a platform (Qbera), make a few clicks and swipes, and get their loan disbursed (from Rs 1 lakh to Rs 15 lakh) in a matter of minutes. The platform analysis the open banking data secured through UPI and its private partners to understand the cash flow of a self-employed person, thus extending them credit services with quick, easy, and minimal documentation. The company has successfully maintained a below-1% NPA rate (with current NPA exposure at 0.9%) using its tech-based approach.

2. MoneyTap: Via its app-driven approach, MoneyTap offers collateral-free short-term loans having ticket size as less as Rs 3,000. Such loans require minimal documentation and can be approved in just a few hours. The platform further offers a credit limit to its users with applicable interest only on the amount withdrawn by him or her, and not on the entire approved limit. The part is that this credit limit comes with lifetime validity for each customer, making it a go-to platform for everyone.

3. HAPPY: AI-based lender HAPPY extends loans to small businesses which are less costly and more reliable than informal borrowing. The platform is now also extending its purview to small-ticketing consumer lending as well as the logistics sector, having proven its scalability within the MSME industry. The platform leverages a channel-based approach and extends its loan products via its channel partners, providing flexible digital loans to its customers in over 500 locations across India.

4. InCred: InCred is a new-age NBFC offering bespoke loan products to consumers as well as businesses in India. Its product offerings include Personal Loans, Education Loans, SME Business Loans and Two-Wheeler Loans. The most lucrative part of the lender is that it adopts a personalized approach for each and every loan product, thereby tailoring it precisely as per its customers’ individual needs.