As we all know that nowadays most services are available digitally and we can do anything online. Making the digital world more advanced, now people are utilizing loan apps by which you can get a certain amount of loan without personally visiting the bank. These are Apps for Instant Money.
These apps are made for the convenience of the people so they don’t have to stand up in long queues and submit income proofs or various unnecessary documents. Anybody can apply for a loan online from various apps that can be installed by the play store on any device.
So, let’s get digitally involved in getting loans but be careful! because like any other online scams, there also are loan app scams that can create a lot of trouble. Here we will describe how you can skillfully utilize loan apps without being scammed. Moreover, here we also added 7 Days Loan App List where you can choose the best application for yourself.
Amount of Loan We Can Get from 7 Days Loan App 2023
Fastest Loan Apps provide 7 days loans that you have to pay back in a week or 15 days. This service can only lend you about 500 rupees to Rs.5000. The interest rate will become higher after the given time. Therefore, this lending option can only benefit you if you can pay back the amount by the given deadline.
Documents Required For 7 Days Loan Apps
According to the applications mentioned in the 7 Days Loan App List, you will only need Adhaar Card verification or a PAN card. Most of them also don’t ask for income proof or bank statements. Most of the time, these apps don’t need many identification credentials from you due to the smaller amount of debt and higher interest rate.
Best 7 Days Loan App List
There are numerous loan apps available in which many are real and some also are Fake Loan Apps. However, you should be careful while taking a loan online. So, we have sorted out some best apps that are trustworthy and you can use them for availing loans online saving a lot of time.
The apps mentioned below might also give you a loan on EMI after a while if you have a good repayment history. Furthermore, these are some of the most authentic and RBI Approved loan apps.
- PayRupik can lend you a maximum of Rs.10,000 at the interest rate of 16%- 38%.
- RupeeRedee allows you to take a maximum of 25,000 rupees at an interest rate of 48% and more if you exceed the given deadline.
- FairMoney is one the most favorite app as it gives you loans up to 60K rupees at an interest of only 1% -3%.
- RapidRupee also gives up to Rs.60,000 at an interest rate varying from 0% to 35.9%.
- Doslease Loan app’s starting interest rate is 10% for Rs.10k to Rs.50k.
Does RBI Approves 7 Day Loan Apps?
Since loan apps become an essential element the reports of online loan scans were also increasing day by day. Therefore to avoid them RBI approved many loan apps to ensure and help people to distinguish between fake and authentic loan apps.
RBI Approved Loan Apps are those which are verified by government officials as they have provided all the crucial information and credentials. Licenses and certificates are important to avoid any type of online loan scams.
How 7 Days Loan Apps Helpful?
These loan apps are made for people who urgently need money and can pay later. This is one of the best services for those who need some amount and can easily pay in in the giving deadline. Developers making these kinds of apps are benefitted from the interests generated by the users in the minimum time.
Fake 7 Days Loan App List
You should always be careful while choosing loan services online. Because some apps have been removed from the Google Play Store or fake apps that are not authorized or licensed. As these apps can pull you into huge debt due to the higher or gradually increasing interest rate. Those apps are as follows:
- HI-Pocket (Interest rate is up to 20%)
- Rupee Park App (Interest rate starting from 18.25%)
- Turrant Loan App (Starting 25.55% interest)
- Yes Cash Loan (Interest rate 18.25% initially)
- Safety Rupee Loan (Initially 35% Interest rate)
- AA Loan App (Interest rate starting from 35%)
- Glory Loan (Starting Interest rate up to 17%)
Numerous loan apps can turn out to be frauds. Therefore you must look for RBI approved apps because they are more trustworthy.
What is 7 Days Loan App Harassment?
Some of the online loan scams also include app harassment. These cases are reported by the users of several non-RBI-approved apps. What happens is that some customer care service providers illegally hack into the user’s data or photos and they harass the users using those elements if any of the users fail to pay back on time.
How to Avoid Loan Resource App Scams?
Before applying for a loan at any application you must do the following things to ensure the authenticity of the service.
- Look for user reviews and don’t use the app if you find negative reviews.
- Check if the application you are going to use is approved by RBI or not.
- Search for the license and credentials of the loan app.
- Thoroughly read the interest policy of the application.
- Don’t apply for a loan if the interest rates are high.
Are 7 Days Loan App Legal in India?
These apps are legal in India however they should be licensed or approved by RBI. You can use 7 Days Loan App List to find yourself the best loan app. Similarly, google automatically removes those apps which are fake but they may stay for a few days so you should be careful. Moreover, you can also file a complaint if you are scammed.
7 days loan app list we provided to aware you of those apps that you can easily trust. However, there are many applications available online that may be fake. Therefore you should be careful and check all the policies and credentials before applying for a loan. Be careful, and be happy!