Opt for Mobile Loans via Mobile Personal Loan Apps

Updated on: 7 September 2023

Published on: 30 July 2021

A mobile phone loan allows you to buy the latest smartphone in the market with ease. Not only have these devices become ubiquitous across the country, but each new launch also brings better features and upgrades. Today, you can get a mobile costing anywhere between ₹1,500 to ₹1.5 lakhs. 

The higher-end devices from reputed brands come with superior features and longevity. But given the costs of the latest phones, it’s not just choosing the right model that you have to worry about. You also need to plan how to finance your mobile phone purchase. There are multiple ways to do this, one of which is opting for a mobile phone loan.

One of the best ways of getting a mobile loan online is through mobile loan apps that offer several benefits:

• Available instantly, on-the-go
• Minimal documentation
• Quicker loan disbursal
• Easy to access

The question then is which mobile loan app you should choose to buy the smartphone you need. While there are several with various attractive schemes, Fibe is among the top and fastest-growing lending platforms. 

With seamless, affordable and convenient instant cash loan starting from ₹5,000 going up to ₹5 lakhs, you can get financing with an attractive interest starting from 2% per month. Even as a young salaried individual, you can get a quick mobile loan and purchase the smartphone you want. 

Furthermore, you can get finances without putting up any collateral. You can also choose a tenure of up to 36 months. And the prepayment charges? Zero! You can submit the necessary mobile loan documents online after meeting the basic eligibility criteria. 

The eligibility criteria are as follows:

• You must be between 21 years to 55 years
• You must be a resident of India
• You must be a salaried employee or self-employed
• You must have a Facebook/Google account to sign in on the Fibe Personal Loan App
• You must have a minimum salary of ₹15,000 (for residents in a non-metro city) or ₹18,000 (for residents in a metro city)

Once you meet these requirements, you can submit some standard mobile loan documents such as a PAN card, Aadhaar card, address proof, bank statement and your selfie to start the application process. 

Apply for Personal Loan on Pan Card

How can I check my mobile loan eligibility?

You can check your eligibility for a Fibe Personal Loan for a Mobile Phone by following these steps. 

Step 1: Sign up on the Fibe Personal Loan App or website with your mobile number
Step 2: Verify with the OTP sent
Step 3: Enter the required details
Step 4: Check your eligibility and approved limit

Once you know your approved limit for the personal loan for a mobile phone or any other use, budgeting becomes easier. You can easily apply for a suitable loan amount and enjoy instant disbursement. 

Remember, Fibe is not limited to just offering a personal loan for mobile phone purchases. With Fibe’s Personal Loan, you can use the funding towards education, travel, marriage and more. 

To get started, download our instant Mobile Loan App or apply for a mobile loan online on the official website. 

FAQs on Mobile Phone Loans

How to get a mobile loan?

You can get funds for a new mobile or any other personal use through the Fibe mobile loan app or website. 

Which mobile loan is best?

The best loan to buy a mobile depends on your eligibility and needs. Fibe is among the best mobile loan apps in India with simple eligibility terms. It does not require you to have a good credit score. You can get an instant mobile loan with attractive interest rates starting at 2% per month. 

Are mobile loan apps safe?

Mobile loan apps, such as Fibe, with PCI-DSS compliance and ISO/IEC 27001 certification, ensure the protection of your data. Make sure you do a background check on the lender to ascertain credibility as a security measure for your finances.

What is the minimum CIBIL score for a mobile loan?

To get a personal loan to purchase a smartphone, you must have a CIBIL score of 750 and above. However, lenders like Fibe do not rely on credit scores to approve loan applications.

Is a mobile phone loan a secured loan?

Personal loans for mobile or any other appliance are unsecured. So, you do not have to pledge any collateral or security to get the funding.