About Personal Loan App

5 min readJun 12, 2021

Nowadays, online personal loan app are becoming more and more popular because of the many benefits they bring. Many apps allow you to get instant personal loans quickly and easily.

Personal loans can be used for any personal need, such as medical emergency expenses, wedding expenses, home renovation expenses, education, etc. Considered an unsecured loan, the interest rate of a personal loan is naturally on the higher side. However, in case you have an excellent credit score and meet other criteria set forth by the bank, you can get a loan at a reasonable interest rate.

During the coronavirus era, borrowers faced stricter lending standards. If you need cash urgently, instant personal loan app will be your choice. This post will be helpful for you. We will talk about How you can get a personal loan through the best online personal loan apps in 2021.

Best Instant Personal Loan App in 2021

You can find personal loans that are available everywhere, from traditional banks and credit unions to online loan apps. In this article, we will only mention a few of the best online personal loan app available in USA, including:

Earnin
Dave
MoneyLion
Branch
Brigit
Chime
Avant
Money Lending

1. Personal Loan App: Earnin

It is true to say that Earnin is one of the best instant loan apps in USA. Whether you are a salaried professional or a self-employed individual, you can apply for an instant personal loan. To be eligible for a loan from Earnin, you must earn at least $12,000 per month (for a salaried professional) and a minimum of $15,000 per month (for a self-employed individual). Earnin was founded by Activehours Inc in usa.

Minimum loan amount: $100
Maximum loan amount: $12,000

2. Personal Loan App: Dave

Dave is a great solution for you in case of an emergency or financial crisis. To get a personal loan, you have to download the Dave app on your phone from the Google Play store or the Apple store. After that, you need to upload the required documents on the app.

Once your request is approved, the loan amount will be credited to your account shortly thereafter. Remember that this loan app approves loans based on your social profile, achievements, and earning potential by using a proprietary algorithm-based machine learning platform.

Minimum loan amount: $100
Maximum loan amount: $1000

3. Online Personal Loan App: MoneyLion

Backed by USA, MoneyLion is considered one of the best personal loan app in USA. With this app, you can apply for a personal loan anytime, anywhere. In particular, you can get an instant unsecured loan without any identification.

You just need to download the app and provide your PAN number, Aadhar number, and address for verification. Once verified, the loan amount will be disbursed to the bank account in under five minutes. You can repay the loan within three to 72 months. In case you wish to foreclose the loan and your amount is below $10,000, you will not be charged an extra foreclosure fee.

Minimum loan amount: $250
Maximum loan amount: $500

4. Personal Loan Apps: Branch

As a salaried professional, do you often run out of money in the middle of the month? Don’t worry, an Branch is a perfect solution for you. Branch offers loans up to $1000 for all your needs. It allows you to repay the loan with dollar easily within 100 days. Therefore, Branch is slowly becoming popular among the young generation at the present.

Minimum loan amount: $500
Maximum loan amount: $1000

5. Brigit

As one of the newest money lending apps in USA, Brigit has become a good solution for people who need money urgently. After downloading the app, you can see if you qualify for a loan in just 3 minutes.

In case you are eligible, you will be given a credit line of $250. You can withdraw about $200 or even more, anytime you need. You can pay off the loan in installments over 3 to 12 months. The best part is that you don’t need to have a high credit score to apply for a loan. So, if you need some money urgently, Brigit is one of the right options.

Minimum loan amount: $50
Maximum loan amount: $500

6. Chime

With a unique feature called “don’t use-don’t care”, Chime stands out from the rest. When borrowing through this app, you are only charged interest on the actual amount you use. To get a loan, you need to download the application and upload the required documents. You will be given a line of credit, as soon as you are approved. However, you need to earn at least $1000 a month to qualify for the loan.

Minimum loan amount: $20
Maximum loan amount: $500

7. Avant

In fact, this instant loan app is a great help for salaried individuals who need cash urgently in times of crisis. In addition to a one-time approval process, the app features instant disbursement and gives borrowers the option to access their credit at any time. You are also allowed to decide the loan term.

It is correct to say that Avant works as an advanced salary app with no fixed EMI for borrowers. you just need to download this application, upload the required documents and the loan will be transferred to your account if you qualify.

Maximum loan amount: $2000.

8. Money Lending App

If you need a substantial amount of cash for an emergency, think “Money Lending”. Money Lending is a great online loan app that allows you to borrow money in an emergency and it also allows you to pay with Dollar within three months to 3 years.

The entire borrowing and repayment process takes place through the app and is completely paperless. You have access to the desired loan amount once your request has been approved.

Minimum loan amount: $100
Maximum loan amount: $10.000

Frequently Asked Questions: Personal Loan App

1. What is the common age to qualify for a loan through online personal loan apps?

A salaried individual must be between 21 and 60 years old, a self-employed person must be between 25 and 65 years old.

2. Besides apps, where can I get a personal loan?

I get a personal loan from brick-and-mortar banks, credit unions, or online lenders.

Conclusion

All in all, there is no denying that instant online personal loan apps have made getting a loan easier. However, you should always read the terms and conditions carefully before signing up.