1. Overview
- Instant personal loan app by B.P. Securities (India) Pvt. Ltd., an RBI-registered NBFC.
- Provides quick digital loans for both salaried and self-employed users.
- Loan processing is 100% online with fast approval and disbursal.
2. Features
- Loan amount: Up to ₹50,000
- Tenure options: 90 days to 24 months
- Interest rate: Up to 29.5% per annum
- APR: Up to 29.5%
- Claims disbursal within 15 minutes
- EMIs available for easier repayment
- Processing + onboarding fee: Starts from ₹800 + GST
- No collateral required
- Works across India
3. Eligibility
- Minimum age: 21 years
- Salaried income: ₹15,000+ take-home/month
- Self-employed income: ₹25,000+ per month
- Must have PAN and Aadhaar
- Must have active bank account
- Suitable for both salaried & business users
4. Required Documents
- Aadhaar Card
- PAN Card
- Last 3 months’ bank statement
- Salary slip / joining letter (for salaried)
- Business/company details (for self-employed)
5. Charges Table
| Charge Type | Details |
|---|---|
| Loan Range | Up to ₹50,000 |
| Tenure | 90 days – 24 months |
| Interest Rate | Up to 29.5% p.a. |
| APR | Up to 29.5% |
| Processing Fee | From ₹800 |
| Onboarding Fee | From ₹800 |
| GST | 18% on fees |
| Late Charges | Mentioned in loan agreement |
| Hidden Fees | App claims “none”, but reviews disagree |
6. Loan Example (Simple, Clear, Correct)
- Loan Amount: ₹50,000
- Tenure: 6 months
- Interest (18% p.a.): ₹4,500
- Processing Fee: ₹800
- Onboarding Fee: ₹800
- GST on Fees: ₹288
Total Cost = ₹4,500 + ₹1,600 + ₹288 = ₹6,388
Total Repayment = ₹56,388
Approx EMI = ₹9,398 per month
7. Step-by-Step Process
- Install InstantFunds app
- Register with mobile number
- Fill personal, employment, and income details
- Upload Aadhaar, PAN, bank statements, salary slip/business proof
- Wait for verification
- Receive loan offer with full charges
- Accept and sign agreement
- Money transferred to bank account
8. Advantages
- Available for both salaried & self-employed
- Higher loan amount than microloan apps
- Longer repayment period (up to 24 months)
- Fast processing and documentation
- Digital, paperless application
9. Disadvantages
- Many user complaints:
- Hidden charges
- Extra deductions
- App showing EMI unpaid even after payment
- No customer support response
- Harassment calls (reported by several users)
- Fees (processing + onboarding + GST) increase total cost
- Loan disbursed amount can be much lower due to upfront deductions
- Play Store data safety section states: “Data isn’t encrypted”
10. Contact & Customer Support (FULL DETAILS)
Developer / Lender:
- B.P. Securities (India) Pvt. Ltd.
Support Options:
- In-app customer support (primary method)
- App Support section on Play Store
Important:
- The Play Store listing does NOT display an email or phone number publicly.
- Users must contact support through the app or via Play Store → App Support.
Escalation (if support is unresponsive):
- Keep all payment proofs
- Email receipts, loan agreement, screenshots
- Escalate to:
- RBI Sachet portal
- Banking Ombudsman
- Consumer Court
- Cyber Cell (if deductions continue)
11. Other App Information
- Rating: 3.9★
- Reviews: 27.4K+
- Downloads: 1,000,000+
- Version: 6.3
- Last Updated: 31 Aug 2025
- App Size: 13 MB
- Requires Android: 7.0 and up
- Released On: 4 Aug 2023