Whenever you run out of cash and desperately need some, a personal loan can be of immense help. However, there’s a catch - the traditional way of applying for a bank loan is tiresome and time-consuming, and hence, it’s not the best option if the need is urgent. This is where the new-age instant personal loan apps come to your rescue. These apps allow you to apply for personal loans and get them approved quickly right from your smartphone.
Although there are numerous personal loan apps today, not every app offers a high degree of convenience and flexibility. This is why we have compiled a list of the current top 5 instant loan apps in India that you can use to get a personal loan.
| App Name | Interest Rate (per month) | Loan Amount |
|---|---|---|
| Money View | 1.33%-2% | Rs.10,000-Rs.5,00,000 |
| Indiabulls Dhani | 1%-3.17% | Rs.1,000-Rs.15,00,000 |
| Money Tap | 1.08%-2.03% | Rs.3,000-Rs.5,00,000 |
| KreditBee | 2%-3% | Rs.1,000-Rs.1,00,000 |
| PaySense | 1.08%–2.33% | Rs.5,000-Rs.5,00,000 |
Money View Loans App:
This is perhaps the most convenient and popular instant loan app in the country today. Its amazingly simple and quick loan application and approval process is what makes it a class apart from its competitors. The app is extremely easy to use and the financial transactions carried out through it are entirely safe.
Indiabulls Dhani App:
It is another app that allows users to apply for personal loans from their phone in just a few steps. Its major highlights are listed below.
MoneyTap App:
One of the primary highlights of MoneyTap is that you would pay interest only on the loan amount that you use and not the entire approved amount. To attract borrowers, MoneyTap also offers exciting rewards and benefits with its credit card.
KreditBee App:
Apart from instant personal loans, KreditBee extends salary advance loans to young professionals who usually run short of cash towards the end of the month. Borrowers can apply for instant loans of up to Rs.1 lakh through minimum documentation.
PaySense App:
It is another instant loan app that is gaining popularity owing to its quick loan approval and disbursement process. First-time borrowers can also apply for loans of up to Rs.5,00,000 through PaySense.
