These range from a peer-to-peer lending platform to a platform pioneering the concept of a credit line.

If you’re looking for some quick cash for house repairs, a sudden travel expense or to meet an unforeseen requirement, one of the simplest ways is to take a short-term loan to fund your need. 

Here are five platforms that can help depending on your need: 

  • is an online marketplace for providing financial services and products at best rates across demographics in India. Powered by state-of-the-art custom-made technology, the digital platform connects borrowers with suitable lenders to ensure that they get the right loan product, matching their needs and credit profiles. Borrowers range from entry-level workers and small businesses to high-net-worth individuals and SME businesses. The users can choose from wide-ranging financial products such as home loans, personal loans, gold loans, property loans, business loans, and credit cards as well as a loan against property. It also allows one to compare gold loan products of leading banks and NBFCs, making it a pioneer of the popular concept of digital sourcing of gold loans in India.
  • Money Tap:  MoneyTap introduced the concept of a Credit Line (personal line of credit for consumers) for the first time in India when it launched in September 2016. The “Credit Line” means that the bank will issue a limit of up to Rs. 5 Lakh, without any collateral or interest. Against this limit, using the MoneyTap app, consumers can borrow as little as Rs. 3,000 or as much as Rs. 5 Lakh and repay it as EMIs from 2 months to 3 years. The interest is paid only on the amount borrowed and the rates can be as low as 1.08% per month. The limit also gets automatically topped up as soon as EMIs are paid back. Any salaried employee can use this free Android app and, in a few minutes, using a patent-pending Chatbot interface, provide all the information typically required by banks. The app securely connects with the banking systems to give them not only an instant approval but also a credit limit, depending on the individual’s credit history. 
  • Qbera:  Qbera is an online lending platform providing fast, frictionless, and fair personal loans to professionals. Launched in January 2017 by Aditya Kumar, the company is headquartered in and operates out of Bengaluru and provides lending services through an end-to-end digital platform, enabling the transfer of funds to the borrower within 24 hours of receiving the online application. It is a product of Credit exchange, a Bengaluru-based fintech startup in the consumer lending space. Qbera was launched with the chief objective of addressing the growing need in the market for quick and convenient delivery of personal finance services. One of the company’s main areas of focus is providing loans to potential borrowers who are largely overlooked by banks and financial institutions. These borrowers make up a large segment of the population and include individuals with incomes less than Rs. 6 lakh per annum, employees working for companies unlisted with banks, and people who are new to credit, in addition to those who live in PGs or Bachelor accommodations. 
  • Incred Finance:  InCred is credit for Incredible India, which uses technology and data-science to make lending quick, simple and hassle-free. Incred believes traditional ways of lending can exclude those most in need because of outdated, rigid and often inefficient processes. InCred has simplified the lending process with a sharp focus on serving borrowers’ unique needs and circumstances – offering customers a truly superior borrowing experience.
  • Lendbox:  Lendbox is an RBI licensed NBFC - peer-to-peer lending platform in India, which is creating a conducive environment for borrowers and investors. Unlike banks and financial institutions, Lendbox cuts down the interest rates for borrowers and increases investor's yields by eliminating mediators like commercial banks, depository institutions, etc. Lendbox aims to revolutionise the personal loans market in India by creating a one-stop shop for all borrowers with varied profiles and needs who can have access to both retail and institutional investors with varying risk appetites.