Assessment of the Top Loan Apps in India
Traditional banks take a long time to process personal loan applications, and moneylenders are notorious for charging exorbitant interest rates, making the process extremely risky. As a result, personal loan apps have emerged as an excellent idea in this entire financial setup to provide safe and hassle-free instant cash loans in India within minutes. In this StarInsights report, we unravel the top loan apps in India based on consumer reviews and ratings.
A personal loan is similar to emergency financing in that it can be used when a borrower is short on cash. Because such loans have no end-use restrictions, the funds can be used for anything, including weddings, vacations, and medical expenses. It’s like the most comfortable financial cushion for borrowers.
On the flip side, personal loan applications and disbursements have become more convenient as a result of technological advancements. In addition to traditional banks and financial institutions, several mobile applications now offer users immediate personal loans.
The internet has transformed the way India does business. One can now buy anything from vegetables to a Smart TV from the comfort of their own home. If you require quick and easy instant personal loans in India, the situation is no different.
There are numerous instant loan apps in India that can make a personal loan application process much easier and more convenient. You can apply online with scanned documents, and the loan amount can be delivered to your door or credited to your bank account, whichever is more convenient for you.
Based on this notion, we have curated a list of the top-rated and reviewed loan apps in India that generally have a decent online presence. Through publicly released results from Google Seller Ratings and its aggregated system of ratings and reviews.
Most reviewed loan applications in India
|App||Number of Reviews|
|MoneyTap – Instant Personal Credit Line @ Best interest rate||19241|
|DMI Finance Pvt Ltd||6348|
|Rupeek Gold Loans||2318|
|Kaarva – Financial Wellbeing Employee Benefits||673|
|Finnable Credit Private Limited||625|
|LoansJagat.com – Apply Personal Loan & Debt Consolidation (Single EMI) Upto 50Lacs in 2mins in India||207|
|Afinoz (Digitalizing Finance)||117|
In terms of reviews, MoneyTap – Instant Personal Credit Line sits on the top with 19241 reviews, followed by moneyview with 1041 reviews in second place, while DMI Finance Pvt Ltd is in third place with 52 reviews. Such results are amazing because having a stable rating and numerous reviews is a desirable trait of a reputable loan app. This is evident by the positive reviews they’ve received from those who attended or visited one of these places.
Ratings are also quite significant to a business’s importance, and in the long run, they boost customer satisfaction and sales. eKomi understands the importance of ratings, and so, we completed the StarInsights assessment by putting together a list of the top ten highest-rated applications in India.
Top-rated loan applications in India
|Rupeek Gold Loans||4.8|
|Kaarva – Financial Wellbeing Employee Benefits||4.8|
|MoneyTap – Instant Personal Credit Line @ Best interest rate||4.7|
|LoansJagat.com – Apply Personal Loan & Debt Consolidation (Single EMI) Upto 50Lacs in 2mins in India||4.6|
|Instant Cash Loan | Online Cash Loan in India | QuickCredit||4.6|
|Afinoz (Digitalizing Finance)||4.4|
|Finnable Credit Private Limited||4.4|
The best-rated loan applications in India is Money StarLoan with an astounding 4.9-star rating. Their Google Reviews rate an almost perfect rating. In second place is a tie between Rupeek Gold Loans and Kaarva – Financial Wellbeing Employee Benefits, both with 4.8 stars, where the difference lies in the number of reviews. Nonetheless, the majority of the loan apps do have a stable rating, which reveals that most companies understand the value of online reputation.
These loan apps have been working hard to maintain their excellent ratings, and they deserve recognition. However, they need to understand the causal relationship between a rating and the number of reviews.
eKomi congratulates the owners of the toplisted loan apps in India in both categories for their excellent services and urges all their competitors to up their game and reach out to a review agency like eKomi. The feedback company works with an efficient team to gather reviews that are organic and credible. The eKomi-team presents all loan apps and loan agencies in India with an offer to assess customer satisfaction, and this includes a free consultation to discern the business’s level of growth and to heighten its sales development and online search traffic.
In three months, please check out eKomi’s blog to read our follow-up assessment on which loan applications in India will be the best and most rated.