Loan App Fast Approval 2024 | Instant Loan App Without Income Proof | Best Loan App 2024

 

Friends, in this concept we will discuss that in today's date, if someone wants to take a personal loan from any instant personal loan application, then which application will be the best In this concept, we will discuss three applications that have zero chances of fraud If we talk about the processing fees or the rates of interest for those applications, then also, it is very low, if we compare these three applications with other instant personal loan applications. Okay, before this, I have made two concepts on the best instant personal loan applications. In those, I have made everyone understand with very much love that we should always take loans from the banks only and not from these instant personal loan applications. That has some reason as well. See, I will definitely share three applications in total. I will share the process of application as well with you. But the things I am telling you right now are the most important things which we will discuss at the start of the concept. After that, at the end, I will make everything clear in this concept. Except this, you don't need to go anywhere else. This is the reason I explained in that concept why you should take loans from banks. See, no matter even if the instant personal application is registered with the RBI or not, those have very high rates of interest. For a few, it starts from 12% and which percentage it will reach to the maximum is still unknown. Some have a starting rate of 29% or 36%, and even go up to 48%. In the same way, if we talk about processing fees, it's 15%. This is a significant amount compared to banks, where the processing fee for personal loans is only 1-2%. So, these were a few reasons. I mean that I had shared some examples there as well like I had an active personal loan in the ICICI Bank. So, the interest rate I was paying them for that loan was 13.4%. So, we can get personal loans from banks at an interest rate of 13.4%. Why do we then opt for instant personal loan applications where we need to pay rates of 28%, 30%, 35%, 40%, 45%, which is very common? except that, I have taken examples of other banks as well like ICICI Bank has a starting rate of 10.50%, SBI has a starting rate of interest of 11% for personal loans. So, we had discussed a lot of things. But in that concept, I mean that we have talked about many things very deeply. So, I requested all of my audience to comment 'I agree' if they agreed with my words. You can check the concept right now to verify that 99% of the audience commented 'I agree'. The remaining 1% of the audience didn't express disagreement. but they said that this is absolutely correct that these instant personal loan applications are taking advantage of someone's compulsion and the second thing is that their rates of interest are also very high and they charge a high amount of processing fees. When we apply for a loan, they take access to our gallery, contacts, and other important applications. In case anyone defaults then they have all of the contacts. So, their way of recovering is also very bad. What they will do is that they will call your relatives like your uncles and aunts up and will tell them that their relative has taken a loan. I mean if someone faces any compulsion and makes any default, then they will defame that person among his relatives. So, many people have commented that my words were absolutely correct and they completely agree with me but they have asked me... I have found this comment very genuine and on behalf of this comment only, I am making this concept for you. Okay? Many people have commented that you work in a bank and you have a proper salary slip. You file ITR properly. So, it is very easy for you to suggest to take loans from banks. You will apply for a loan to the bank and you will get it. But there are many such people in the country who don't even know that how they should file ITR. They have a job but they get payment in cash like someone who works as a laborer gets Rs. 12000 or Rs. 15000 in cash. The banks offer nothing to these people in the name of loans. They will never get loans from banks. This is a compulsion of these people that they need to take loans from the instant personal loan applications. Then it occurred to me that the topic is absolutely genuine. I mean that I was thinking about this for a very long time that what kind of wonder these instant personal loan applications have done that many people are taking loans from these. If you notice, then you can see that in the last 2-3 years, the finance sector has got a huge boost. So, after seeing this only, I become like no. It is right that many people in India need loans. Banks don't offer loans to them. The thing is that this is their compulsion that they can get loans from instant personal loan applications only. But in that case, this is our responsibility that at least... See, the first thing is that if the compulsion is very serious, then only, we should take loans from the instant personal loan applications. After that, we need to make sure that we should not touch any Chinese loan application even by mistake. We should not blindly install applications and take loans from them. I will share three applications with you in this concept which are registered with the RBI. Okay? See, the rate of interest is high for each of those. But yes, those are good applications and are running well. You will have to pay more rate of interest. Let me make this thing clear. If you default on a loan, then the way of recovering is also not good. But yes, if you are taking the loan and repaying it with honesty, then it is fine. We can use these applications in compulsion. Now, there's one more thing we should be aware of... We will talk about that thing now and then, we will discuss about those three instant loan applications. Now, let's see how these instant loan applications work. See, let's suppose that I have applied for a personal loan to ICICI Bank. So, ICICI Bank already have the money and they will give you the money from there only. But if I talk about any instant personal loan application, then they don't have their own money. What they do is, suppose they need to lend money to a customer. They either borrow money from banks and lend it to you, or they borrow money from an NBFC and lend it to you. But today, what some of the instant loan applications are doing is that they are only cross-selling. For example, you must have heard about BuddyLoan a lot. Now see, what Buddyloan is doing is that... This is Buddyloan, okay? When you will visit the Buddyloan application, then it is properly written that this is a loan aggregator only. See, I am making this thing more clear to you. After completing the entire process on BuddyLoan as a trial, in the end, when it accepted my request, it stated that I was eligible for the loan and could take a personal loan from these applications. It has more applications down below like KreditBee and 3 to 4 more applications. There was an application named Five as well. So, it was saying that you can take a loan from these applications. That means, it has taken my data and it is referring to me that I should install these branch applications. I can take a loan from MoneyView, Yes Bank, KreditBee or Five. Tell me one thing that I have come to BuddyLoan to take a loan. Suppose, this is the customer and he had visited BuddyLoan. BuddyLoan has referred any other application to him further. I would have taken a loan directly from this application only, right? See, notice one thing if there is any instant loan application, as an example, let's take KreditBee. Kreditbee won't refer to any other application further. Suppose, a customer has visited. KreditBee has four partners like one which I can remember is Aditya Birla. Then you should either refer to Aditya Birla. Then it is fine because it is a NBFC company that it has to give the money. If the application, KreditBee asks me to install the application, MoneyView, so that, you can get the loan. Then, I could visit MoneyView directly, right? So, this is very important to understand that if any application is referring any other instant loan application to you, then you should be aware of that application. Let me give you another example which is PhonePe. If you visit PhonePe to take a loan, then it asks you to take the loan from BuddyLoan. A customer has visited PhonePe. PhonePe has sent him to BuddyLoan. Now, this BuddyLoan will send him to MoneyView and then MoneyView will take the loan from any NBFC and will give it to him. Then, I should take the loan directly from MoneyView, This is a very simple thing. There will be a question that you can take the loan directly from NBFC only. Now, the thing is that NBFC works in the same way the banks do. Then, they reject your loan. So, you will have to take any of the instant loan applications, if you have a bad CIBIL score. If you have a good CIBIL score, then completely ignore this thing. You will have to take loans from the banks only. Let's take another example. We will come to those three loan applications and will share the whole process with you. But this is a very important thing. You know, what I don't like is that I prepare the PPTs deeply. But some people get bored with this and ask to come to the point directly. It would be better for me to come to the point directly. I will get the same number of views and income from YouTube. If I come to the main point directly, then I can easily make 10 concepts per day, if I only need to share the process of clicking here and there. Sometimes, it takes one to one and a half days to prepare one PPT. So, I would request that if you think I am providing valuable knowledge, please like this concept, subscribe to this channel and leave a positive comment. Kindly give the same positive comment which is 'I agree and I am with you'. This much comment is enough for me. These comments make me very happy, and I feel motivated to continue making detailed concepts by researching deeply. Now, let's see this thing once again. Let's take Bajaj Markets as an example. They also have partners. What will it do? It will take all of your details and then, it will refer you to MoneyView or other such applications or to some banks. So, there is no profit to take loans from these as this one has 15 partner brands. There are more examples, like Tata Neu, which offers loans up to Rs. 10 lakhs. Here, it also has some partners like KreditBee, CashE, MoneyView. So, we can take loans from them directly, right? You need to understand this concept a bit. Now, let's discuss the three best instant loan applications available to date. I will share four applications instead of three, Now, at first... Okay, this was the last one left which is CreditLinks. It is the same thing only which has partners like MoneyView and all. Okay? Now, we will discuss about 3-4 best instant loan applications. See, on today's date, the best one is MoneyView. See now, here, don't take this thing like this that it is MoneyView, so it is the best one. I never feel inclined to promote these apps. I am making this concept for those who are not able to get a loan. What is the scene with MoneyView? See, the first thing is that the rate of interest... Now, let me show you another thing. They have written here that the rate of interest is 1.33% per month. They present this as their rate of interest: 1.33% per month. Now, many people think that it's only 1.33%. When you will multiply this with 12, then only, you will get the annual one. So, the rate of interest is 15.96% which is approximately 16%. Their rate of interest starts from 16%. Don't think you will get it at 16%. I have seen many people who say that they can get loans at 16%. Banks offer loans at 16%. If these applications could offer loans at 16%, then it would be perfect. Then why would these applications be worthless? So, that is the thing that it starts from 16%. If your CIBIL score is bad, then it can be 20% or 25% or it can reach 30% as well. This thing works depending on your CIBIL score only. But yes, this one is a trusted application and is registered with the RBI and no such fraud will happen to you that you have not got the money and it is recovering the money. Nothing like that will happen but yes if you make a default... Whenever you pick up an instant personal loan application, 90% of them will request access to your gallery, contacts, location, and other phone features. If you default on their loan even by mistake, then their way of recovering the money is absolutely third-class. They will call your relatives up. Let's suppose, you default on a loan from the bank. Then the banker will visit your house and pressure you to return the money. Bank representatives will also come to your home but they will not go to your uncle or aunt's house to curse you. They will only visit your house. Their way of recovering is like that they will defame you among your relatives. So, the only thing I dislike is their worthless way of recovering the money. okay, let it be. If we talk about MoneyView, you can get loans of up to Rs. 10 lakhs. The age should be 21 years. Now, let's discuss other topics, such as the need for loans among 18-year-old students. Which applications are available for them? For the rest, the minimum age for this one is 21 years and the maximum age is 57 years and these are some of their lending partners. So, this one is not sending you to any other application but to the NBFC companies or to some banks for the loan. I mean that they will not send you somewhere. I will share this process with you. You just need to follow the application process, and you will get the loan from here. It has tied up with them for its own benefit. MoneyView will borrow money from any of these sources and lend it to you. So, it is obvious that MoneyView doesn't have its own money. It borrows money from another company. It has simply created its own app to sell loans. It's a straightforward story. The second one is TrueBalance. On the first number, it is MoneyView and on the second number, it is TrueBalance. Now, the rate of interest and processing fees of TrueBalance are very high. If you are over 21, then cross it off the list. This is just for those who are 18 years old because the minimum age to apply for this is 18 years. So, if any student needs a loan, then it is fine. Because see, in the case of MoneyView, I was getting a maximum loan of up to Rs. 10 Lakhs at a 16% rate of interest but here, the rate of interest starts from 28.8% which is around 29%. It directly has a 13% more rate of interest than the previous one. Let's suppose that in the case of MoneyView if the processing fee is 2-3%, then it has a processing fee of 0-15%. What is 15%? If the processing fee is of 15% and the loan amount is of Rs. 1 Lakh, then only Rs. 85000 will get credited to the account and the loan amount to be repaid is Rs. 1 Lakh and let's suppose that their rate of interest is 30-35%. So, what did I get? Only Rs. 85,000 has been credited to the account, and the loan amount to be repaid is Rs. 1 lakh, also at an interest rate of 30-35%. That means that this is for only those who are very much in need and if he is 18 years old. For that reason only, I have kept it on the list. And yes, another thing is that it is registered with the RBI and a bit trusted. For the rest, the rate of interest is hilarious. I don't know but I am sharing this with you in compulsion. I mean, I don't want to do this. If someone has a good CIBIL score, then I would request him to avoid this one. The third one is KreditBee. This application is also okay. It has tied up with 4 NBFCs. As you can see here, the minimum age is 21 years. Sometimes, they limit the amount to Rs. 4 lakhs, and sometimes up to Rs. 5 lakhs. This information gets updated on the application, so you need to check that out The maximum tenure for a personal loan is 48 months, which is 4 years. and the rate of interest starts from 15% and can reach up to 29%. So, from the perspective of interest rates, it is good. whereas MoneyView offers 16%. Both offer almost the same rate of interest but KreditBee offers loans up to Rs. 4 Lakhs whereas MoneyView offers loans up to Rs. 10 Lakhs. For the rest, both applications are good. I will share another application with you for the fourth spot, which I had not included here. It also has good feedback. Its name is Navi personal loan application. It has a processing fee of 0% which is a very good thing and you can trust this as well. Okay? So, these are the four applications which... See, every application has some cons. If you compare those with banks, then according to me, all of these four have some cons. Okay? But yes, that comment comes to my mind again and again which is that the person who doesn't have any CIBIL score and is taking income in cash needs to put this while applying that he is from a salaried class and is getting income because these people don't understand in most of the cases and ask to upload the bank statement. In a few cases, you get a loan without even uploading the bank statement. So, in that case, let's suppose that someone is getting a salary credited into his account. He doesn't have proper ITR and all. Okay? In that case, as well, he will upload his bank statement. So, there are chances that he will get a loan from here. Okay? If someone gets into an emergency, he will get the loan. So, in that context, these four applications are all good choices. Now here, I am sharing the process for one application and it is the same for the rest of the applications as well. As a demo, I will quickly show you the process for MoneyView. I will demonstrate how you can get a loan from MoneyView. For the rest, on YouTube, everyone has made concepts. The main point was to share the 4 applications with you. You can get loans from whichever application you want. Okay, let's do one thing. I am sharing the process for MoneyView, and it is the same for all of those applications. I will share all the links in the description box below. You can easily apply through those links. I am sharing the process for one application, and it is the same for others as well. I would like to request one thing from you: if you find this concept nice and informative, please like the concept and subscribe to the channel Now, let's see the process for MoneyView quickly. To apply for the MoneyView personal loan, at first, you will have to visit the PlayStore and will have to install the MoneyView: Personal Loan App. After that, you will have to open this application and such kind of interface will be seen on your screen. Now here, it is asking for some basic permissions as I had told you at the starting of the concept that you will have to give the access to your location, contacts and all as it's your compulsion. So, you will have to scroll it down and then simply, you will have to click on the 'I agree' option. After that, for 3-4 times, it will ask to allow to take permission. So, you will have to click on 'Allow' again and again. The thing is that it is your compulsion. You will have to give many permissions mandatorily. This is the thing about these instant loan applications. So, you will definitely have to give the permissions. So, on the notification showing 'Allow', you will need to click on 'Allow' again and again. After that, on your phone, all the Email IDs which are logged in will be shown in front of you. Among these, you will have to select one Gmail ID which you want to register with MoneyView. After selecting that, you will have to click on the 'OK' option down below. After that, on the next page, it will show your Gmail ID and will ask for your mobile number which you want to register with MoneyView. After entering that, you will simply need to click on the 'Continue' option. After that, on the next page, it will automatically fetch your OTP and then, it will take you to the next page. Here, on the next page, it will ask for some of your basic details like your first name, last name, educational qualification and you will have to enter all of these basic details. After that, you will have to proceed to the next page. After that, on the next page, the amount of monthly income you had entered previously like for whom I am applying to, I have entered his monthly income as Rs. 10000. So, according to that, it is showing that he is eligible for the maximum loan amount of Rs. 1.10 Lakhs. It is showing the interest down below as well. Suppose, you take the loan for 18 months, then the amount of interest will be this much and if you take the loan for 15 months, then the amount of interest will be this much. So, the tenure you want the loan for, you will have to select that. After that, you will have to click on the 'Confirm and proceed' option down below. After that, on the next page, it is asking for some of your additional details like your educational qualification, father's name, mother's name, if the house where you live is owned by you or is rented. So these are all of the basic details which you need to enter again. After that, you will have to proceed to the next page. After that, on the next page, it is asking you to verify your KYC. There are two ways to verify KYC. Either, you can do it paperless or via DigiLocker. So, the easiest option is that you get the KYC done via DigiLocker. When you had set the DigiLocker, then you must have set a PIN. You just need to remember the PIN. If you don't even remember the PIN, then also, you can enter any number and you will get logged in. So simply, I am selecting the DigiLocker option here. After that, on the next page, it asks you to enter your Aadhar Card number. After that, you need to enter the Captcha code you can see below as it is. After that, you will have to click on the 'Next' option down below. After that, on the next page, you will receive an OTP for verification. You will have to enter that OTP. After that, it will take you to the next page. Here, it is asking for the same PIN which you had set for DigiLocker someday. If you remember that, then enter it. If you don't remember it, then you will have to set a PIN on your own. After that, you will have to click on the 'Done' option down below. After that, on the next page, it will fetch your details from your Aadhar card. Simply, you will have to click on the 'Allow' option here. After that, on the next page, for your verification, it is asking you to upload your selfie, so that, they can get your photo as a proof. So simply, you will have to upload your selfie here. After that, you will have to click on the 'Done' option down below. After that, on the next page, it is asking that in which bank you want to receive the loan amount. You will have to select the bank in which you have an account like for whom, I am applying for the loan, he has an account in Axis Bank. So, I will select the 'Axis Bank' option. Now, after selecting Axis Bank, On the next page, it is asking you to verify if that is your bank account. So, I can verify it in three ways. Here, through net banking, I can verify that my account is in Axis Bank only. So, I will click on the second option which is the Net banking one. After that, on the next page, it is asking me to select the name of my bank, to enter my username and password and then, you will have to click on the 'Next' option down below. After verification, it will take you to the next page. Here, it is saying that after verifying Axis Bank, in which account you want to receive your loan amount. So automatically, it is already showing Axis under the bank section. Here, I will enter my account number and will confirm the account number and after entering the IFSC code, I will click on the 'Verify' option down below. After that, on the next page, it will show this kind of interface on your screen. It has reduced the loan amount a bit here because later, it again validates the loan amount you are exactly eligible for. So, whatever exactly the final loan amount it will show here, you will have to check it from here. If you think that the rate of interest and all are absolutely perfect, then you will have to click on the 'Confirm' option down below. After that, it will take you to the next page if you confirm it. Then here, it is asking you to set the auto-setup. It is fine that the amount has got credited to your account. Now, auto-setup means that the amount of EMI which will get deducted every month should get deducted from which account. So, every month, it will be done automatically which is called auto-debit. Here, you will have to select that account. So simply, you will have to select the account from which you want the amount of EMI to get deducted and will have to select and verify that account. So, let us get it verified through Net Banking only that from which account, I want the amount to get deducted every month. After selecting Net Banking, on the next page, it will again ask for the same kind of verification process as it was earlier. It is asking to select the bank first, to enter the customer ID and password and then click on the 'Next' option down below. So that, it can verify that from this account only, the amount of EMI should be deducted every month. After that, it will take you to the next page. Here, it is asking you to confirm your address wherever you belong to. So, you will have to enter your Pincode and complete address. After entering all of the details regarding your address, you will have to click on the 'Confirm' option down below. After that, on the next page, it is asking for more of your details like here, it is asking you to select any of your family members. For example, if you select father, then you will have to enter your father's number and your friend's or relative's number down below. This is for their backup only, so that, if you make a default tomorrow, then they can approach them. By the way, they have already taken many data but you will have to do it. So, after doing all of these, you will have to go to the next page. After that, finally, it will show a preview page to you at last that the loan amount is this much, the EMI is this much, the rate of interest is this much and all. If you still think that the rate of interest is high or if you find anything less or more, then from here also, you can exit. If you find everything okay, then you will have to click on the 'Continue' option down below. And sometimes within 1-2 hours or sometimes, within 3-4 hours, the loan amount gets credited into your bank account. So, this is the complete review about the MoneyView loan application. I hope that you have found this concept informative. If you have found this concept even a bit informative, then kindly like this concept and subscribe to this channel. Let's meet on the next concept. As of now, this is the end of the concept. Thanks for listening and thank you all.