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5 digital platforms providing unbelievable loan products

ANI | Updated: Aug 16, 2018 15:55 IST

New Delhi [India], Aug 16 (ANI): Loans, a dull segment is flashed up with the uniqueness of the new online trending platforms making it convenient process for customers to meet their daily financial requirements.
Fintech is making it simpler for customers to customize their loan products offering from NBFC's and Banking partners, ease of online short-term and long-term unsecured loans, providing the exclusivity of personal credit line to be used as desired and products like EMI free loans is attracting borrowers to take their leap of faith with digital finance medium.
Here are some apps to try digital lending experience:
MoneyTap is India's first app-based consumer credit line, designed with the aim of providing millions of Indian consumers with hassle-free access to credit, the app offers instant loans in partnership with leading banks in the country. MoneyTap introduced the concept of a Credit Line (personal line of credit for consumers) for the first time in India.
LoanTap is a fintech platform delivering flexible EMI free loan products to salaried professionals. It uses technology to deliver smart and innovative products for millennials. Borrowers can choose custom- made loan products from an array of offerings like Overdraft Facility, Credit Card Takeover Loans, Rental Security Deposit Loans, Advance Salary Loans and consumer durable loans. Registered as LoanTap Credit Products Pvt. Limited with RBI, it is an NBFC offering unique products and features within the regulatory guidelines, thereby ensuring a fully transparent pricing structure.
Promising a unique borrowing experience to Indians, Happy provides customized loan offerings to consumers to meet their specific demands. It even offers Micro Business loans that start at as low as Rs 2,000 for durations as short as 30 days. By empowering small businesses and merchants to meet their working capital requirements, Happy aims to be the harbinger of a financial revolution that ensures the availability of funds to every business person as and when required. Happy has also introduced another unique offering called Trial Pack. Happy launched a loan for 7 days completely free.
OMLP2P, an online Peer-to-Peer (P2P) lending platform, offers consumers short-term and long-term unsecured loans facilitating loans online from Lenders (investors) in a transparent, convenient, and effective manner. OMLP2P uses a tech-enabled verification process based on the personal and financial information provided by the borrower.
CoinTribe is a leading SME lending focused marketplace that provides quick and easy, collateral free loans to Small Businesses with annual turnover between 1 - 100 Cr. CoinTribe believes that effective underwriting is at the heart of solving the gap in SME lending market and is the only online lending platform that has back-tested its credit model with large banks and continues focusing. CoinTribe has partnered with some of the leading Banks and NBFCs to simplify the SME borrowing experience requiring just the basic business and key person(s) details along with business bank statement(s) to arrive at credit approval. (ANI)