Branch is a free-to-use financial app that allows you to apply for, and take out a loan–all from your device. This mobile solution from Branch International offers flexible loan plans with an annual percentage rate (APR) capping. Not only does it let you access additional funds without the excessive processing times and rejection rates of banks, but it also has an in-app reward system that gives something back to loyal customers.

With its interface and capabilities, Branch feels like a simpler, more streamlined version of other personal finance solutions. Other alternatives include YONO SBI and KreditBee.

Your online lending partner

To start, the Branch app offers most advantages you can expect from alternative lending platforms. You can get your loan approved in as fast as three minutes. Aside from its instant loans, the app also doesn’t charge late fees for any payments you might’ve missed for a certain grace period. It even promises a 20% return on investment (ROI) per annum on your in-app investment.

However, while this looks easy and inviting, it is important to note that it doesn’t support global transactions. Some of the areas where it operates include India, Kenya, Nigeria, and Tanzania. It is also important to first check the payment terms since some loans allow for a flat rate on top of the borrowed amount while others apply a proportionate APR depending on the amount and length of the loan.

Although it is a promising 24/7 financial lifeline for most working people, the app can use a few improvements. For example, certain users report receiving financial records that are not consistent with their activities. Some borrowers are rejected for new loans, with the app citing late payments although users insist that they’ve paid on schedule. Remember that having a bad record could negatively affect your chances for renewal.

A reliable app for certain territories

With its quick approval and flexible loan options, Branch positions itself as a good lending platform for a lot of users. It offers most advantages you can expect from an online platform in terms of convenience and accessibility. However, it only serves borrowers in certain territories only. Additionally, there are minor issues in terms of the app’s record-keeping, denying services to unlucky customers.