Personal loan: Why should a tiny sum be raised from a digital lending app instead of a bank?
1 day, 2 hours ago

Personal loan: Why should a tiny sum be raised from a digital lending app instead of a bank?

Live Mint  

If you find raising a personal loan from a bank a cumbersome process, then you can – among other things – raise it from a digital lending app. When you happen to raise a small amount, say ₹50,000 or under ₹1 lakh — instead of going through the rigmarole of coordinating with a mainstream bank, you can simply raise the tiny sum via a digital lending app. Key reasons to raise personal loan from lending app Your credit score is too poor to get an approval from a mainstream bank. You have a pre-approved loan offer from a digital lending app and therefore, you do not want to undergo the entire application process again at a bank.

Bank Digital Personal Loan App Raise Lending  tiny  lending  raised  sum  raise  app  process  score  bank  small  instead  personal  loan  digital

History of this topic

Why do Indians raise instant personal loans? From home renovation to holiday travel, here are the top 8 reasons
2 weeks ago

Why do Indians raise instant personal loans? From home renovation to holiday travel, here are the top 8 reasons

Live Mint  

Raising an instant personal loan is not uncommon anymore among middle-class salaried people. Since you have already exhausted your home loan limit, you might opt for a personal loan. However, when you need access to urgent funds to pay for your child’s fee while you don’t intend to burden the child with a loan, the feasible option is to raise …

Instant personal loan apps on the rise: What every borrower should know
2 weeks, 6 days ago

Instant personal loan apps on the rise: What every borrower should know

Live Mint  

Traditionally, to get a personal loan, a borrower was required to visit the bank branch to enquire about the loan and make several visits to the branch to apply for a loan. Disadvantages of instant loan apps High interest rates: Some apps may charge high interest or levy hidden charges, taking advantage of people who are in need of emergency …

7 instant personal loan mobile apps you can explore in 2025
3 weeks, 2 days ago

7 instant personal loan mobile apps you can explore in 2025

Live Mint  

If you are falling short of money and urgently need funds to meet your deficit then one of the most feasible options that you can explore is to seek a personal loan. Although one can approach a bank or an NBFC for a personal loan, there are a dozen mobile applications also that enable users to procure a personal loan …

Personal Loan: How is technology transforming the borrowing experience?
3 weeks, 5 days ago

Personal Loan: How is technology transforming the borrowing experience?

Live Mint  

The use of technology in the financial sector has revolutionised the entire process of borrowing and transformed the user experience to a new level. From a quick and efficient process of submitting loan applications to customised offers, technology has simplified the entire personal loan application journey. Online loan applications Now it is no longer necessary to go to the bank’s …

Personal loan: Where to apply for it? Here are 5 key options
1 month ago

Personal loan: Where to apply for it? Here are 5 key options

Live Mint  

In case you fall short of money and urgently need it, one of the most feasible options is to raise a personal loan. One could raise a loan from a bank such as SBI, HDFC Bank, Kotak Mahindra or Bank of Baroda, among others. Alternatively, you could Here we list out key ways to raise a personal loan: 1.Bank: Raising …

Planning to borrow from a personal loan lending app? Make note of 6 key points
1 month, 1 week ago

Planning to borrow from a personal loan lending app? Make note of 6 key points

Live Mint  

Gone are the days when a loan seeker had to literally run from pillar to post to procure a personal loan. Besides a large bank, one can also approach an NBFC or a loan lending app to meet immediate financial need. Spike in fraudulent transactions Total fraudulent transactions Oct 22 Oct 24 Value terms ₹ 220 crore ₹ 411 crore …

7 reasons why it is essential to stay cautious of digital lending apps
1 year, 5 months ago

7 reasons why it is essential to stay cautious of digital lending apps

Live Mint  

With the rapid advancement of technology and the proliferation of smartphones, the fintech industry in India has witnessed significant growth in recent years. Predatory lending practices Digital lending apps often target vulnerable individuals who may have limited access to formal banking services or who urgently require funds. Data privacy and security concerns Digital lending apps typically require borrowers to share …

Experience Bank of Maharashtra’s hassle free Digital Lending platform
3 years, 2 months ago

Experience Bank of Maharashtra’s hassle free Digital Lending platform

Hindustan Times  

- Zero processing charges on Housing Loan and Car Loan during ongoing festive season - Lucrative Rate of Interest With changing lifestyles and increased demand for luxury, the surge in auto and home loan is visible in every nook and corner of the country. Considering the consumer demand, Bank of Maharashtra, a premier public sector bank in the country, has …

Instant, app-based loans could lead you to debt traps
3 years, 3 months ago

Instant, app-based loans could lead you to debt traps

Live Mint  

The adoption of technology amid covid-19 in the Indian financial ecosystem is on an overdrive. The promise of real-time access to loans makes instant app loans more attractive than personal loans from established banks, especially for urgent requirements. Loan sharks: Regulators in advanced economies such as the UK and the US have issued strict guidelines against loan sharks offering instant …

Loans from app-based lenders can hit you hard
4 years, 7 months ago

Loans from app-based lenders can hit you hard

Live Mint  

Over the past year or so, many fintechs mushroomed to give small loans and borrowers fell for them, given the quick turnaround time and limited documentation required. A search on Google Play Store app store for the keywords “instant loan” displays over 200 apps that are willing to put cash in your bank account. Among multiple lenders that she took …

Digital lending helped push financial inclusion
5 years, 9 months ago

Digital lending helped push financial inclusion

Live Mint  

Mumbai: Digital lending has boosted financial inclusion, especially helping borrowers otherwise unlikely to benefit from formal finance, Reserve Bank of India deputy governor N.S. Speaking at the 12th Mint Annual Banking Conclave, Vishwanathan said digital lending could benefit a host of people and sectors including self-employed, small and micro enterprises and small borrowers deemed uneconomical by the formal sector. Vishwanathan …

Discover Related