India broke the traditional route and introduced digital lending sometime ago. But the problem is you will get 1000 applications on Google Play Store and cannot find the best one. 24hr Loan gives you India’s 6 best digital lending companies in 2024.
These lenders will solve your financial-related issues. Inspect briefly before applying for a loan.
The 6 Best Digital Lending Companies in India
| Lenders | Loan Amount | Interest Rate | Tenure |
| WeRize | Rs. 30,000 to Rs. 5 Lakh | 16% to 18% p.a. | 12 to 36 months |
| Faircent | Rs. 50,000 to Rs. 10 Lakh | 12% to 28% p.a. | 12 to 36 months |
| LendingKart | Rs. 50,000 to Rs. 50 Lakh | 12% to 22% p.a. | Up to 36 months |
| Finnable | Rs. 20,000 to Rs. 10 Lakh | 16% to 22% p.a. | Up to 36 months |
| DMI Finance | Rs. 15,000 to Rs. 25 Lakh | 12% to 40% p.a. | 3 to 60 months |
| Flipkart | Rs. 30,000 to Rs. 30 Lakh | 14% to 18% p.a. | 12 to 60 months |
1. WeRize
WeRize offers personal loans with digital experience. The salaried customers who are taking in-hand Rs. 12,000 salaries are applicable for WeRize personal loan. Borrowers can take up to Rs. 5 lakh loan from WeRize lending company.
Eligibility Criteria
- Age must be 21 to 55 years.
- Rs. 12,000 salaried employees only apply
- Job must be 1 year old.
- A zero credit score or 700+ is acceptable.
2. Faircent
Faircent is a P2P (Peer to Peer) lending company. With digital experience, you can take up to Rs. 10 lakh loan from Faircent. Both salaried and self-employed customers can apply with Faircent. All India location loan available from Faircent with 12% to 28% interest p.a.
Eligibility Criteria
Salaried Person
- The borrower should be an Indian Citizenship
- 1 year previous CIBIL track
- Borrower in-hand salary of Rs. 25,000 required
- A job should be 6 months old.
Self Employed
- Residence must be Indian
- 36 months previous CIBIL track or loan track on CIBIL report.
- 2 years ITR File with 2.5 lakh income on Income Tax file.
- Average maintains bank balance Rs. 10,000 required.
3. LendingKart
Micro, Small, and Medium enterprises (MSME) business owners may take up to Rs. 50 lakh loan for business expenses. Minimal documents 1 year vintage proof is only required. Accelerated loan approval through a seamless digital experience.
LendingKart taking interest rate 12% to 22% p.a. No ITR file required for LendingKart digital business loan.
Also Read: Digital Business Loan in Mumbai
Eligibility Criteria
- Business must be 1 year old
- Maintain yearly 12 lakh transactions on Bank Statement and maintained a 30,000 balance on the Bank account for the last 3 months
- -1 or 650+ CIBIL are acceptable
- Only business owners can apply.
- Customer eligible age: 21 to 65 years
- Individual proprietors, Pvt. Ltd. Company, Partnership Company, and LLP are applicable.
4. Finnable
One of the popular digital lending companies Finnable offers up to Rs. 10 lakh personal loans. The job profile customer with a Rs. 15,000 salary will obtain a Finnable loan. Disburse the loan within 3 days from the date of loan application.
Finnable provides a minimum interest rate of 16% to a maximum of 22% per annum. The ROI (Rate of Interest) will depend on your creditworthiness.
Eligibility Criteria
- Residence should be Indian region.
- Acceptable age: 21 to 58 years
- Your net salary income of Rs. 15,000 need
- Borrower credit score: zero / 700+ applicable
- The current job profile must be 6 months old
5. DMI Finance
DMI Finance does not provide loans directly. However, individuals may apply for loans through DMI fiancé channel partners lending companies such as Google Pay, Money View, StashFin, etc.
Borrowers obtain up to Rs. 25 lakh through DMI finance. Start on a seamless digital journey with the simplicity of a one-click application process. Experience affordable interest rates with 12% to 40% p.a.
Eligibility Criteria
- Indian Citizenship
- Individual age: 21 to 58 years required
- Credit history score must be 730+ applicable.
- Your Phone number should be linked with Aadhaar.
6. Flipkart
Online shopping platform Flipkart giving up to Rs. 5 lakh digital loans with the partnership Axis Bank. A credit score of 730+ is applicable for a Flipkart personal loan. This loan is 100% digital with a paperless document process.
Flipkart provides the loan with yearly interest of 10.49% to 36% p.a. Choose the loan tenure from 6 to 36 months.
Eligibility Criteria
- Applicable age: 21 to 55 years
- Borrower credit score: 730+
- Borrower Aadhaar card should be linked with a mobile number
Conclusion
24hr Loan comes with 6 best digital lending companies in India 2024. These lenders provide a seamless loan process. The automated machine learning process offers faster loans. Loan approval is much easier with these digital lending companies. Apply for a loan without going branch. Solve your economic crisis by taking an urgent loan.
FAQs on Digital Lending Companies in India
Is WeRize providing digital loans?
Experience a seamless digital journey with WeRize lending company. Individuals with a monthly income of Rs. 12,000 are eligible to apply for a WeRize loan. Remember, salary must be credited to the borrower’s account.
What is the credit score needed for a digital loan?
Digital lending companies provide instant loans at a 730+ credit score. But WeRize offers personal loans at a 700+ CIBIL score.
Can I get a Flipkart personal loan without a bank statement?
Flipkart gives you a digital personal loan without a bank statement. Previous loan track and healthy CIBIL score are required for loan approval.
What income threshold is necessary to qualify for a Finnable loan?
The minimum salary of Rs. 15,000 is necessary to obtain a Finnable personal loan. Borrower will take up to Rs. 10 lakh loan.