LoanSumo – About Us

About LoanSumo

LoanSumo is an Instant Loans platform that helps borrowers apply for online loans with multiple lenders at one go. LoanSumo works with a range of lenders to offer both Instant Cash Loans and Personal Loans including Banks, NBFC’s, Digital Lenders, P2P Lenders, and Private Finance Companies. Through its lender partners, LoanSumo provides paperless online application, same-day processing, quick loan approval in as little as 1 Hour, and fast disbursals.

Cash Loans are short-term loans that range from 5000 Rupees to 1,00,000 Rupees. These Mini Loans are usually used by borrowers for their urgent money needs or as a salary advance.

Instant Personal Loans are offered to both self-employed and salaried persons ranging from 1 Lakh Rupees to 10 Lakh Rupees. By partnering with lenders across the credit spectrum, LoanSumo is able to provide Personal Loan to those with Low CIBIL and Low Salary.

Why apply with LoanSumo?

  • Responsible Lending (Fair & Transparent Terms)
  • Instant Loans (Quick, Fast & Easy)
  • Low CIBIL Score accepted
  • Easy Application Process with Minimal Documentation
  • Unsecured Loans – Where in No Guarantee Required
  • Large Lender Network

What to use your Loans for?

Our loans are meant to help borrowers when their urgent and immediate cash needs come up

  • Marriage Loan
  • Travel Loan
  • Salary Advance Loan (when Employees need an early paycheck)
  • Pay Day Loan
  • Medical Loan
  • Down Payment for Bike Loan (or) Car Loan
  • Home Renovation Loan when Home Improvement is needed
  • Personal Loan Balance Transfer
  • Debt & Credit Card Consolidation

What NOT to use Instant Loan for?

  • Leisure expenses like eating out, alcohol, or Shopping
  • Buying gadgets, gifts, etc when not a survival necessity
  • Borrowing money in spite of no need

Responsible Lending at LoanSumo

We at LoanSumo believe that the customer deserves to get fair transparent lending terms when they borrow money. We work with lenders who we vet and test to be the most responsible lenders in the industry. Moreover, we work to educate our customer son the best practices of borrowing and repaying loans responsibly.

Please note that LoanSumo is not a direct lender, and hence does not make decisions on loan approvals, loan terms, and loan disbursals. Fast loan approvals and disbursals are dependant upon the borrower profile and lender terms.

Learn how to check your CIBIL score for FREE.

Healthy Credit Habits to follow as you borrow money

  • Make sure you are not borrowing money for an unwarranted need
  • Shop for Loans and ensure you are getting the best interest rate
  • Check Loan Terms before you sign on the dotted line
  • Make your payments on time. Never miss a loan payment.

Documents Required for Mumbai Private Finance (Minimum Eligibility)

  • Copy of PAN Card
  • Copy of Drivers License
  • Proof of Residence (Electricity/Telecom/Gas Bill)
  • Proof of Income for last three months prior to application
  • Bank Statement Copy for last six months to one year
  • IT Return Documents
  • Form 16
  • Proof of Employment (Offer Letter)

We operate in all of the major Indian metros of India including Hyderabad, Bangalore, Delhi, and Mumbai.