Importannce of using only RBI Registered loan App List in India
RBI Registered loan App List – Recent surveys have underscored a distressing trend where a majority of individuals and small enterprises have fallen victim to the proliferating array of illicit mobile applications and digital lending platforms promising inexpensive and expeditious loans. These disconcerting reports shed light on exorbitant interest rates, concealed ancillary charges that often catch borrowers off guard, unethical and coercive credit policies, and the illicit deployment of contracts to gain access to sensitive data on borrowers’ mobile devices.
According to the directives set forth by the Reserve Bank of India (RBI), financial institutions operating under the jurisdiction of state governments, in adherence to pertinent legislation like money lending acts, are sanctioned to engage in authorized public lending activities. This privilege is also extended to banks, non-banking financial companies (NBFCs) duly registered with the RBI, and various other accredited organizations. Under the aegis of Section 45 IA within the RBI Act of 1934, the Reserve Bank has conferred NBFCs with a registration certificate, endowing them with the prerogative to accumulate and accept public deposits, thereby legitimizing their financial operations [Source: RBI Press Releases].
In order to empower the RBI in its overarching role of overseeing the financial ecosystem for the greater good of the nation and to forestall any untoward developments within Systemically Important Non-Deposit Taking Non-Banking Financial Companies (NBFCs) and Deposit Taking Non-Banking Financial Companies (NBFC-Ds), it becomes imperative, in the public interest, to exclusively patronize RBI-endorsed loan applications in India.
The proliferation of unscrupulous digital lending platforms has raised a clarion call for prudence among loan seekers. Discerning borrowers ought to exercise due diligence and verify the imprimatur of the RBI on any loan application they contemplate utilizing. By adhering to this principled course of action, they not only shield themselves from the perils of usurious interest rates and hidden financial traps but also contribute to the overall health and integrity of India’s financial landscape. It is an unequivocal mandate to safeguard the public interest, uphold ethical financial practices, and ensure the resilience of our nation’s economic foundation.
In summation, the choice to exclusively employ RBI-approved loan applications in India is more than a matter of prudence; it is a civic duty and a safeguard against the encroachments of unscrupulous entities. It stands as a testament to one’s commitment to ethical financial dealings and the enduring prosperity of our great nation.
RBI Registered loan App List
| App Name | Credit Limit |
|---|---|
| Kreditbee | Loan up to 2 Lakhs |
| Kreditzy | Loan up to 2 Lakhs |
| Paysense | Loan up to 5 Lakhs |
| NAVI | Loan up to 5 Lakhs |
| Lazypay (Credit Line + Personal Loan) | Loan up to 1 Lakh |
| Freopay (Credit Line) | Rs. 10000 |
| Stashfin – (Credit Line + Personal Loan) | Loan up to 5 Lakhs |
| Cashbean | Loan up to 1 Lakh |
| MI Credit | Above 5 Lakhs |
| Dhani (Credit Line) | Loan up to 5 Lakhs |
| Avail Finance | Loan up to Rs. 50000 |
| NIRA | Loan up to 2 Lakhs |
| Branch | Loan up to Rs.50,000 |
| Smartcoin | Loan up to 2 Lakhs |
| Rupeek App (Gold Loan) | Loan up to 50 Lakhs |
| Simple Pay Later (Credit Line) | Loan up to 1 Lakh |
| Mobikwik (Credit Line + Consumer Loan) | Loan up to 2 Lakhs |
| Paytm Personal Loan | Loan up to 2 Lakhs |
| Krazybee (Consumer Loan) | Loan up to 2 Lakhs |
| Bharatpe (Business Loan) | Loan up to 5 Lakhs |
| Paytm Postpaid (Credit Line) | Loan up to 1 Lakh |
| True Caller | Loan up to 5 Lakhs |
| Simply Cash | Loan up to 2 Lakhs |
| Slice (Credit Line) | Loan up to 1 Lakh |
| True Balance | Up to Rs. 50,000 |
| Zest Money (Consumer Loan) | Above 2 Lakhs |
| Amazon Pay Later | Up to Rs. 60,000 |
| Flipkart Pay Later | Up to Rs. 60,000 |
| Tata Capital | Above 10 Lakhs |
| Tata Neu Credit card (Qik EMI Card) | Rs.10000 to Rs.150000 |
| Tata Neu App (Qik Personal Loan) | Rs.10000 to Rs.10,00,000 |
| Ola Money Pay Later | Rs.1500 to Rs.20000 |
| Khatabook App | Rs.50,000 to Rs.10,00,000 |
| Jupiter credit limit | Up to Rs.50,000 |
| OneCard App | Rs. 10000 to Rs150,000 |
| imobile Pay Later | Rs. 20,000 |
| SBI YONO APP | Rs. 1500 to Rs. 60000 |
| IDFC Bank Pay later | Rs. 1500 to Rs. 60000 |
| Bajaj Finserv App | Rs. 50,000 to Rs. 5,00,000 |
| Rufilo Loan App | Rs. 5000 to Rs. 25,000 |
| IBL FINANCE App | Rs. 5000 to Rs. 25,000 |
| Early Salary | Rs. 8,000 to Rs. 500,000 |
| Money View | Rs.10,000 to Rs. 5,00,000 |
| CASHe | Rs. 1,000 to Rs. 3,00,000 |
| mPokket | Rs.500 to Rs. 30,000 |
| Stashfin – Credit Line & Loan | Rs. 1,000 to Rs. 5,00,000 |
| MoneyTap | Rs.1,000 to Rs. 60,000 |
| FairMoney Loan App | Loan up to 2 Lakhs |
| KreditOne | Rs.5000 to Rs. 25,000 |
| FlexSalary Instant Loan App | Rs.5000 to Rs.25,000 |
| DigiMoney | Rs. 5000 to Rs. 25,000 |
| Indialends | Rs. 5,00,000 |
| Mystro Loans & Neo Banking app | Rs. 50,000 |
| Kissht: Instant Line of Credit | Rs. 10,000 to Rs. 1,00,000 |
| CreditScore – PaisaBazaar | ₹ 1000 to ₹ 50,000 |
Essential Documentation for Loan Application
In the realm of securing a loan, meticulous attention to paperwork is paramount. Understanding the intricacies of the documentation required is pivotal for a seamless lending process. This comprehensive guide sheds light on the array of imperative documents essential to facilitate your loan application. We will delve into the specifics to ensure you’re well-prepared for the loan journey ahead.
1. Aadhaar Card: This foundational document serves as a cornerstone in the application process. Your Aadhaar card provides incontrovertible proof of identity and residence, an indispensable requirement for any financial undertaking.
2. PAN Card: The Permanent Account Number (PAN) card stands as a testament to your fiscal history and tax compliance. Its inclusion bolsters your financial credibility and underscores your commitment to financial responsibility.
3. Voter ID: Your Voter Identification Card, a symbol of your democratic participation, carries substantial weight in the loan application. It reaffirms your citizenship status and adds a layer of authenticity to your personal information.
4. Bank Statement: The financial bedrock of your loan application, your bank statement, provides an intricate narrative of your financial conduct. Lenders scrutinize this document to gauge your fiscal responsibility and assess your ability to meet repayment obligations. A well-maintained bank statement can be the linchpin of your loan approval.
5. Selfie via Loan App: In the digital age, technology interfaces with tradition. The inclusion of a selfie, captured through the loan application, adds a modern twist to the documentation process. It exemplifies your commitment to embracing technological advancements while pursuing financial assistance.
Conclusion :-
The inclusion of a selfie through a loan application signifies our readiness to blend tradition with technology in the pursuit of financial assistance. It represents a forward-thinking approach to finance, streamlining processes and embracing the digital age’s innovations. This small act carries profound implications, symbolizing our adaptability and commitment to a more accessible and secure financial future.
