Want to avail a quick short term loan? Short term personal loans are easy unsecured loans that can be availed online in a very hassle-free way. All you are required to do is download the short term personal loan app, fill in the required details with the updation of documents and your loan application will be approved if you are eligible for the same.
You can avail short term loans online by using various applications. Interest rates depend on the lender you are borrowing from. Interest rates on CASHe start at 1.5 percent each month. Interest rates on EarlySalary start at low Rs.9 per day. PaySense offers monthly interest rates ranging from 1.4 percent to 2.3 percent. Money View offers monthly interest rates starting at 1.3 percent. The consumer would be able to pay their EMIs more easily as a result of this. This works out to be extremely reasonable for the customer because it is a short-term loan. Know about some of these short term loan apps here below.
MoneyView
You can avail short term bad credit loans guaranteed approval nz from Money View for up to 5 lakhs, with an interest rate of 1.33% to 16% p.a. This application provides you with great offers on short term loans. You need a CIBIL score of at least 600 to avail the short loan from Money View. It also claims that the loan amount can be disbursed within 24 hours of error-free application submission. The complete loan procedure will be hassle-free and tally digital.
MoneyTap
MoneyTap also provides you with short term loans with amounts ranging from Rs 5000 to 5 lakhs, with interest rates starting from 13% onwards. The major benefit here is that you have to pay interest only on the borrowed money and not on the granted limit. It is an unsecured loan that can be availed with complete safety and security.
PaySense
Paysense provides you with short term loans that range from Rs 5000 to 5 lakhs. The interest rates offered range from 1.4% to 2.3%. It provides you with a complete digital loan sanctioning process. You can get flexible and affordable EMI options with the help of Paysense. Also, the major benefit of applying for a short term loan from Paysense is it provides the applicants the loan facility without the requirement of a CIBIL score.
Simply Cash
Simply Cash provides the borrowers with loan amounts starting from Rs 50,000 to 1.5 lakhs, with an interest rate of 2.08% onwards. The loan obtaining process is quite simple, with minimal documentation and instant approval. This short term loan from Simply Cash is available to all types of applicants. You can download the application and apply easily through it.
Mobikwik
Mobikwik is a digital wallet that may be used for a variety of online transactions. These include money transfers, payments, mobile recharges, and bill payments and many more. In only 5 minutes, you can get a short-term loan of up to 5 lakhs with interest rates starting at 5.50 percent. To apply for the Mobikwik Loan, no collateral is required. You’ll have complete control over the loan amount you’ve borrowed.
The Bottom Line
In contrast to a traditional personal loan, which often lasts one or more years, a short-term lender offers a shorter repayment period, ranging from 16 days to one year. As a result, a short-term personal loan might not be appropriate for people who need a longer repayment time.
Short-term loans are appropriate for borrowers that require immediate cash. Simply download the application, register, and request a short-term loan, and the funds will be deposited into your account. You can make EMI payments on your Short-Term Loan by UPI, Netbanking, NEFT, or IMPS using the virtual account that has been set up for you. In some situations, the lender can withdraw EMIs immediately from your bank account using an auto debit form (NACH). The consumer can choose the repayment method that is most convenient for them. This is maintained throughout the loan’s term.