Core Insights - The article emphasizes the importance of ensuring that fintech lending apps are approved by the Reserve Bank of India (RBI) to avoid frauds and scams [1] Borrowing Process - The borrowing process through loan apps is described as quick and seamless, involving an online application and eKYC verification, which assesses the borrower's repayment ability through documents like credit reports and bank statements [2] - Once approved, the loan amount is transferred immediately after deducting processing charges [2] Popular Approved Loan Apps - Stashfin offers a credit limit of up to ₹5 lakh with a 30-day interest-free period [3] - Fibe provides loans up to ₹5 lakh in just two minutes, with no foreclosure charges and options for loans against mutual funds [3] Loan Offerings from Various Institutions - Aditya Birla Capital provides instant loans for up to 12 months at an interest rate of 19.45% per annum, and for longer tenures at 20.45% per annum, requiring a minimum credit score of 650 for better approval chances [4] - IDFC First Bank offers loans up to ₹10 lakh starting at 9.99% per annum, with repayment tenures ranging from 9 to 60 months [4] - Money View provides loans up to ₹10 lakh with tenures between 3 to 60 months [5] - Kredit Bee offers loans at interest rates between 12% to 28% per annum for amounts between ₹6,000 to ₹10 lakh, with repayment periods from 6 to 60 months [5] - Lazy Pay allows loans between ₹3,000 and ₹5 lakh without physical documents, requiring KYC and auto-pay setup, with repayment options from 3 to 24 months [5] - CASHe provides loans between ₹50,000 to ₹3,00,000 with tenures from 9 to 18 months [6] - ZestMoney offers a credit facility of up to ₹2 lakh with no paperwork, repayable in 3, 6, 9, or 12 parts [6] - mPokket provides small loans as a credit limit of up to ₹50,000, requiring PAN, Aadhaar, and proof of education for KYC [6]