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5 Instant lending platforms that will help manage post festival expenditures

By Leandra Monteiro

November 08, 2022

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lendingThe first and foremost step that every gig worker, blue-collar worker and middle-class family during the festive season take is to plan the budget but it is normal that in this expensive world, we always end up with extra expenses from the decided ones. Instant digital lending has come out as one of the best solutions these days to manage that extra expenditure. Individuals can borrow money in just a few clicks and manage the lack of capital. Here are a few instant lending platforms that are helping to borrow and manage post-festival expenses.

Incepted in 2018, RupeeRedee is a digital lending platform that allows consumers to fulfill their lending needs in simple steps with the help of technology. The app gives you access to personal loans within a few minutes at your fingertips. It is a tech-driven digital lending platform that leverages technology and data sciences to make lending accessible for India’s massive population of underserved customers. With robust KYC and a smooth process, it makes the consumer journey hassle-free, and quick and also safeguards your data.

Operating with its own Captive NBFC FincFriends Private Limited in the background to facilitate short-term personal loans coupled with digital lending services and has deployed various forms of underwriting including alternate data sources and is not restricted to credit score-based underwriting only.

Incepted in 2018, the company has acquired a huge customer base from more than 600 towns across the country. The digital credit card can instantly be made available within 3 minutes and benefits the customers with no annual, joining, or interest charges. GalaxyCard focuses on making credit cards easily available to customers with an income of less than 30k a month. Customers can simply download the app and make a free online registration for processing. The entire application process is digital and requires three basic details – PANCard, Aadhar Card, and Bank Statements. Unlike the traditional lending process, it eliminates elaborative paperwork and long processing duration.

Founded in 2014, LendingKart’s primary mission is to make it easy for SMEs (small and medium enterprises) in India to have easy credit access. It operates as an NBFC and focuses on the MSME lending and capital space. LendingKart uses big data analytics to help lenders determine a borrower’s creditworthiness. It also completes the loan disbursal process much more quickly than traditional banks.

LoanTap Financial Technologies is an online platform committed to delivering customized loan products to millennials. The Pune-based company was established in the year 2016 with the aim to provide a seamless consumer experience from the application to the disbursal process. The platform is said to be committed to delivering flexible loan products to salaried professionals. LoanTap offers loans to help millennials achieve the life they desire. The company is said to deliver fast personal loans at customer-friendly terms. LoanTap’s focus is to delight its customers by helping them choose the best loan products.

Mumbai-based CASHe is a digital lending platform for young salaried millennials. CASHe provides instant short-term personal loans ranging from INR 7,000 to INR 300,000 for a tenure of up to 1 year to young working professionals based on their social profile, merit, and earning potential and the company uses its proprietary algorithm-based machine learning platform.

ALSO READ: Global Lending Vendors & Landscape Report Q3 2022

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