Indialends Loan App: Instant Approval Personal Loan App: IndiaLends is an online credit marketplace offering a variety of credit products, including free credit reports, credit cards, and personal loans from various Banks and NBFCs. The platform provides instant personal loans through a mostly digital process and extends its services by offering technology, data, and credit analytics solutions, along with a loan management platform to financial institutions. The team behind IndiaLends comprises credit risk professionals and data scientists with extensive experience in consumer credit.
Key Product Features:
Personal Loan:
- Personalized loan offers up to ₹25 lakhs.
- Interest rates starting at 10.25%.
- Tenure ranging from 1 to 5 years.
- The app matches users with the best-suited Banks/NBFCs based on eligibility criteria.
- Associations with over 50+ banks and NBFCs.
Personal Loan Eligibility:
- Age: 18 to 60 years.
- Employment Type: Salaried/Self-Employed.
- Minimum Net Income (monthly): ₹10,000.
- Work Experience: Salaried for at least 6/12 months or Self-Employed for at least 3 years.
- Tenure: Minimum 6 to Maximum 60 months.
- Annual Percentage Rate (APR) ranging from 10.25% (min.) to 25% (max) based on credit and risk profile.
Representative Example:
- Representative 25% APR for borrowing ₹5 lakhs and repaying over 60 months.
- Monthly repayments: ₹14,676.
- Total loan cost: ₹8,91,090 (including principal amount, interest charges, processing fee, documentation charges, and amortization schedule charges).
Lending Partners:
- Axis Bank Limited
- InCred Financial Services Limited
- KrazyBee Services Private Limited
- Earlysalary Services Pvt Ltd
- India Infoline Finance Limited
*Note: Processing fee may vary from 1.5% – 6%, and figures are indicative, subject to change.
Credit Card:
- Access credit card suggestions from 40+ options.
- Choose the credit card that best suits your needs.
- Partnered with providers like ICICI Bank, HDFC Bank, American Express, SBI, Kotak Mahindra Bank, Citibank, RBL, and Yes Bank.
Free Credit Score/Cibil Score:
- Check your free Credit Score/Cibil Score worth ₹1200.
- Receive a detailed analysis of your credit report and tips to improve your score.
- Feature to refresh your credit report and understand changes in your credit score.
EMI Calculator:
- A simple EMI calculator helps calculate EMIs based on loan amount, interest rate, and tenure.
IndiaLends provides a comprehensive platform for users to access a range of credit-related products and services in a convenient and user-friendly manner.