![](data:image/svg+xml;charset=utf-8,<svg height="32" width="135" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="16" width="68" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="18" width="8" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="15" width="18" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="15" width="15" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
Money Tap: One can borrow up to ₹5 lakh and repay in 3 years. The rate of interest starts from 13 percent per annum. The process of seeking a loan is almost the same in all the apps. One can download the app, fill in basic information, complete the KYC process, following which your credit line would be open. You can borrow the money as much as you need within the threshold of the credit line approved. You can repay the loan in easy EMIs.
PaySense: It merged with LazyPay recently, and offers personal loans up to ₹5 lakh. They also offer a line of credit and one can borrow upto 50 percent of this credit line.
CASHe: It offers loan upto ₹4 lakh with a maximum repayment tenure of 1.5 years. The interest is charged at the rate of 2.5 percent per month and the processing fees can be as high as 3 percent of the loan amount.
EarlySalary: This app allows users to borrow up to ₹5 lakh for up to 24 months. One needs to download the app, click on the SalaryCard tab, answer a few queries, complete KYP with OTP consent. At the end, one needs to set up a passcode to get the card activated.
LenDen: It enables peer-to-peer lending and interest rate starts from 11.50 percent per annum. One can decide the loan amount and repayment schedule.
These are the key features of borrowing personal loan via smartphone apps.