Personal loans are a great way to fulfill small goals in life. They help you to splurge on a coveted device, or take care of your financial emergencies without having to spend all your savings.
In today’s time, instant loan apps are the best option for personal loans. They process loans much faster as compared to banks, and also require minimal documentation. If you were searching for loan apps in India, read ahead.
Why waste your time scrolling through descriptions of apps to find out which is the best loan app in India? Here you can find the top online loan apps as well as the interest rate they charge, loan amount and tenure they provide.
We have compiled a list of India’s best, most convenient, and highly flexible loan apps that deliver on their promises. Take a look at the highest rated instant loan apps in 2023!
Sl. no. |
Loan App |
Interest Rate |
Loan Amount |
Repayment Tenure |
Play Store Rating |
1 |
moneyview |
1.33% p.m. onwards |
Rs.5,000 - Rs.10 Lakh |
6 - 60 months |
4.7/5 |
2 |
MoneyTap |
1.08% p.m. onwards |
Up to Rs.5 Lakh |
3 - 36 months |
4.1/5 |
3 |
KreditBee |
15% - 29.95% p.a. |
Rs.1,000 - Rs.4 Lakh |
3 - 24 months |
4.6/5 |
4 |
PaySense |
1.4% - 2.3% p.m. |
Rs.5,000 - Rs.5 Lakh |
3 - 60 months |
3.6/5 |
5 |
CASHe |
2.50% p.m. onwards |
Rs.1,000 - Rs.4 Lakh |
3 - 18 months |
3.7/5 |
6 |
Nira Finance |
2% p.m. onwards |
Up to Rs.1 Lakh |
Up to 12 months |
4.3/5 |
7 |
Navi |
9.9% p.a. onwards |
Up to Rs.20 Lakh |
Up to 72 months |
4.1/5 |
8 |
Fibe |
14% p.a. onwards |
Rs.5,000 - Rs.5 Lakh |
Up to 24 months |
4.4/5 |
9 |
LoanTap |
11% - 24% p.a. |
Rs.50,000 - Rs.10 Lakh |
6 - 60 months |
3.6/5 |
10 |
mPokket |
Up to 4% |
Rs.500 - Rs.30,000 |
Up to 3 months |
4.4/5 |
11 |
Bajaj Finserv |
10.49% p.a. onwards |
Up to Rs.40 Lakh |
12 - 72 months |
4.6/5 |
12 |
IDFC First Bank |
10.49% p.a. onwards |
Rs.20,000 to Rs.40 Lakh |
12 - 60 months |
4.4/5 |
13 |
ZestMoney |
14% onwards |
Up to Rs.5 Lakh |
3 - 36 months |
3.9/5 |
14 |
LoanTap |
18% - 30% p.a. |
Rs.25,000 to Rs.10 Lakh |
3 - 60 months |
3.6/5 |
15 |
Home Credit |
2% p.m. onwards |
Up to Rs.5 Lakh |
12 - 48 months |
4.5/5 |
16 |
SmartCoin |
20% p.a. onwards |
Rs.1,000 - Rs.70,000 |
91 - 270 days |
4.3/5 |
17 |
Credy |
1% - 1.5% of loan amount p.m. |
Up to Rs.1 Lakh |
3 - 12 months |
4.1/5 |
18 |
FlexSalary |
18% - 54% p.a. |
Up to Rs.2 Lakh |
10 - 36 months |
3.0/5 |
19 |
Payme India |
18% - 42% p.a. |
Up to Rs.5 Lakh |
Up to 36 months |
3.7/5 |
20 |
StashFin |
11.99% - 59.99% p.a. |
Rs.1,000 - Rs.5 Lakh |
3 - 36 months |
3.9/5 |
21 |
Dhani |
13.99% p.a. onwards |
Rs.1,000 - Rs.15 Lakh |
2 - 24 months |
3.4/5 |
22 |
IndiaLends |
10.75% onwards |
Up to Rs.50 Lakh |
12 - 60 months |
4.0/5 |
23 |
Buddy Loan |
11.99% p.a. onwards |
Rs.10,000 - Rs.15 Lakh |
12 - 60 months |
4.4/5 |
24 |
RupeeLend |
0.1% - 1% per day |
Rs.10,000 - Rs.1 Lakh |
61 - 90 days |
3.3/5 |
25 |
Upwards |
18% - 32% p.a. |
Up to Rs.5 Lakh |
6 - 24 months |
3.3/5 |
Here are the features and benefits of the 25 best loan apps in India -
moneyview is one of the most popular and the best rated personal loan apps in India. It offers unparalleled benefits and features to its customers. Some of these include -
The loan amount, once the application is approved, is disbursed within 24 hours in most cases
You can check your eligibility criteria in just 2 mins from anywhere in the country
moneyview only asks for three documents, namely, address, identity, and income proof
You can get any amount between Rs. 5,000 to Rs.10 Lakh
Interest rates start from just 1.33% per month with flexible repayment tenures up to 60 months
moneyview does not ask for collateral and you can choose to repay the loan through auto-debit EMIs
moneyview’ s unique credit rating model allows applicants with low credit scores to avail a loan
It is a personal loan app that provides a line of credit to customers, which works as an instant loan or a credit card.
One of the primary highlights of MoneyTap’s line of credit is that you would pay interest only on the loan amount that you use and not the entire approved amount.
Take a look at some of the other benefits offered -
The no-usage-no-interest feature ensures that one pays interest only on the amount used and not the entire amount availed
You can avail of any amount up to Rs. 5 lakh and the interest rates start at 1.08% per month
Whenever you need cash, you can borrow any amount up to your entire approved credit limit, as and when you need it
Flexible repayment tenure from 3 to 36 months is offered
MoneyTap offers free MasterCard credit card to its borrowers and provides the entire credit limit as cash
The applicants should be above the age of 23 years and have a minimum monthly income of Rs.30,000
KreditBee offers multiple types of personal loans - flexi personal loan which is a small ticket personal loan that is perfect for emergencies or smaller expenses and a personal loan for salaried applicants and self-employed applicants.
Some of the features and benefits are -
Depending on the type of loan availed, borrowers can get a loan amount between Rs.1,000 to Rs.4 lakhs
KreditBee claims to disburse the loan amount in just 10 mins
The interest rate ranges from 5% - 29.95% p.a. and can vary based on the borrower’s credit history and other factors
The repayment tenure starts at 3 months and can go up to 10 months for Flexi loan and 24 months for a personal loan for salaried
The entire loan application process from start to finish is done online
This is another instant loan app that is gaining popularity owing to its quick loan approval and disbursement process. Some of the features and benefits of this app are -
A unique feature is that PaySense offers loans to applicants who are new to borrowing and have no credit history
You can get a loan amount between Rs.5,000 to Rs.5 Lakh instantly
The interest rate ranges from 1.4% - 2.3% p.m. and the tenure can be between 3 - 60 months
It offers personal loans to both salaried and self-employed applicants
Paysense also provides reminders, and auto-debit features to help you keep track of EMI payments
Are you a salaried individual looking for an urgent loan? Then CASHe is a great option for you! CASHe employs a unique SLQ (Social Loan Quotient) to determine your eligibility for a loan. Some of the features and benefits of their instant loans are -
Avail loan amounts ranging from Rs.1,000 to Rs.4 Lakh
Repayment terms vary from 3 months to 18 months making it a great short-term loan option
These loans can be availed online which makes the application process easy and convenient
However, the minimum salary requirement is Rs. 12,000 per month and applicants must be between the ages of 23 and 58 years old
CASHe offers a carefully crafted loyalty program that allows its borrowers to enjoy benefits such as choosing lower interest rates or higher loan amount
Nira Finance is another loan app that has been making waves in the financial space. This instant personal loan app gives loans up to Rs. 1 lakh in just 3 mins! Take a look at the features and benefits of their flagship product -
Nira Finance offers a line of credit up to Rs.1 Lakh
Once your documents and application are submitted, you can find out your credit limit in just 3 minutes
Nira Finance also offers credit to first-time borrowers without a credit history. However, if you are a seasoned borrower, then the minimum CIBIL score requirement is 681
Repayment tenure can go up to 12 months
You will also only have to pay interest for the amount used and not the entire amount that you are approved for
Interest rates start from 2% per month
While the entire loan process is paperless, you will need to submit hard copies once for KYC purpose
A digital lending app that provides loans online, Navi is one of the top lenders in the market today. Read on to know some of their features and benefits -
You can avail a personal loan of up to Rs. 20 Lakh
Navi offers flexible EMI options of up to 72 months or 6 years
The interest rates start from 9.9% p.a.
The entire process of availing a loan is digital and can be done from anywhere
You can choose a repayment plan of your choice based on your eligibility
The loan amount will be credited to your account within a few minutes of approval
Fibe, formerly EarlySalary, offers attractive personal loans, financial freedom, and flexibility to its customers. It prides itself on being inclusive and provides instant cash loans to those with no credit score. The best part about Fibe is you get a loan in just 10 minutes. Check out its salient features and benefits -
You can avail of a loan from Rs.5,000 to Rs.5 Lakh based on your eligibility
The entire process of application is done online and is fully paperless
A unique feature of this lender is that you can apply for multiple loans in the same day even if you already have a loan running with them
Another benefit Fibe provides is that it is available 24X7. You can apply for a loan at any time and get instant disbursal
Fibe also offers a salary advance to those who need a little extra cash on the side with interest rates starting from 14% p.a.
You can repay the loan in easy installments that span up to 24 months
LoanTap offers customized loan options with pocket-friendly EMIs and flexible repayment plans. Given below are some of the features and benefits of LoanTap personal loans -
LoanTap lends any amount between Rs.25,0000 to Rs.10 Lakh based on the borrower’s requirement
Once the loan is approved, you will be credited with your loan amount in 24-36 hours
To qualify for a LoanTap personal loan, you must be an Indian citizen between the age of 21 and 60 years, earning at least Rs. 30,000 per month
You can make your EMIs more affordable by choosing a flexible repayment plan from 3 months to 60 months
LoanTap has a transparent loan process and consists of no hidden charges or pre-payment charges
After 6 months of disbursement, you can switch to EMI-free loan or an accelerated repayment option, as per your convenience
mPokket offers secure and instant personal loans for students and salaried individuals in times of cash crunch. It provides pocket-sized personal loans in minutes with low-interest rates sans long-term EMI commitments making it one of the best instant loan apps in India.
Its features include:
mPokket serves low-salaried and low-income earners by providing loans of Rs.500 to Rs.30,000 to fund their urgent financial needs
Once the eligibility criteria are fulfilled, the loan amount is disbursed within a few hours
College students can also avail a loan just by providing their college enrolment, student ID, mark sheet, or letter of admission as proof
You can repay the loan amount within 120 days
The interest rates are up to 4% p.m.
Bajaj Finserv is an Indian non-banking company that provides a variety of financial services. They have three variants of the personal loan product - flexi term loan, flexi hybrid loan, and term loan.
Here are some other features of their personal loans -
You can choose any of the three variants based on your requirement
You can complete the whole process right from the comfort of your home
Avail loans up to Rs.40 Lakh
The loans are unsecured and do not require any collateral
Affordable interest rates starting from 10.49% p.a. and tenures ranging from 12 - 72 months
IDFC First Bank is a good option for you if you want a significant amount of cash. It is an easy to use app, and here are some of its salient features -
As existing customers, you can easily access your loan account details, statement details, outstanding balance, etc.
You can pay the loan at your own pace as the tenure ranges from 12 - 60 months
Loan amount varies from Rs.20,000 to Rs.40 Lakh
The interest rate is affordable starting from 10.49% p.a.
ZestMoney is another unique finance platform that offers instant loans. Here are some features about the platform -
You can apply for a loan even if you don’t have a credit score
It can also be used to shop online in easy EMIs
Avail loans up to Rs.5 Lakh with interest rates starting at 14%
You can get gift cards from other popular shopping websites
Pay the money back in comfortable EMIs ranging from 3 - 36 months
True Balance focuses on customers who don’t make online payments or ones who don’t have a credit score. Read about some major features of the app -
They claim that you can apply, get your loan approved, and get the money within 30 minutes
They provide access to credit for 24 hours of the day
The interest rates start from 2.4% per month
You can borrow an amount between Rs.5,000 to Rs.1 Lakh
Repay the amount at your own pace with tenures between 3 to 6 months
This app provides easy, quick, and convenient loans for all. Some more important pointers about Home Credit are -
It is part of the International Home Credit group and is present in many countries other than India
It is present in more than 150 Indian cities
No credit history is required to avail a loan from this app
Interest rates start from 2% p.m. and tenures can be 12 - 48 months, based on your convenience
You can take a loan of up to Rs.5 Lakh to meet any of your needs
SmartCoin is an easy to use lending app for people who are looking for short term loans. Salaried individuals as well as stay-at-home parents, and business owners can avail loans from this app. Here are some features that make it stand out -
All documentation can be completed online
Application gets approved within minutes
No minimum salary requirement
Mini loans available starting from Rs.1,000 - Rs.70,000 that can be repaid within 91 - 270 days
Affordable interest rates starting from 20% p.a.
This loan app can be used to avail instant personal loans in major Indian cities like Bangalore, Chennai, Pune, Mumbai, and Hyderabad. Here are some more features of Credy -
Loan amount is flexible and can go up to Rs.1 Lakh
You can choose a tenure between 3 - 12 months
No guarantor or collateral needed
You need to be a salaried employee to be eligible
Interest rates range from 1% - 1.5% of loan amount p.m.
Based out of Hyderabad, FlexSalary is another one of the top instant loan apps of India. Here is what sets it apart from the rest of the online loan apps -
All salaried individuals are eligible for a loan
No minimum salary requirement
It works as an advance salary app
Available in metro cities, as well as Tier I and Tier II cities
Affordable easy EMIs based on interest rates ranging from 18% - 54% p.a.
Up to Rs.2 Lakh can be availed as a loan and can be repaid in 10 - 36 months
This online loan company is situated in Noida, and provides a variety of products like payday loans, advance salary, and short term cash loans. The following are some key features of the Payme India app -
Offers loans to salaried individuals
Low-interest rates ranging from 18% - 42% p.a.
Total loan procedure can be completed on the app
Convenient and flexible repayment plans up to 36 months
Loan amount can go up to Rs.5 Lakh
Fixed minimal processing charges
StashFin, founded by a team of experienced financial services professionals, is one of the top digital instant loan apps in India. Here are some features that set it apart from its competitors -
Loans are available for as low as Rs.1,000 and can go up to Rs.5 Lakh
Once you register, a rate quote is provided within 15 seconds
You can repay the loan through digital payments over a range of 3 - 36 months
The rate of interest can be 11.99% - 59.99% p.a. based on your eligibility
Nominal processing charges
Dhani is a loan app backed by Indiabulls Ventures, that lets you apply for a personal loan anytime, anywhere. Here are some unique features of this app -
Avail unsecured loans with no physical documentation
Only PAN, Aadhar number, and address need to be provided for verification
You can repay the loan within 2 - 24 months
Loans starting from Rs. 1,000 to Rs. 15 Lakh depending on your requirement
Interest rates start from 13.99% p.a.
IndiaLends is a premium cash loan app and has these features -
Low interest that starting from 10.75%
Instant loans can be availed directly from the app after checking your CIBIL score
Loan disbursal within 48-hours
Up to Rs.50 Lakh can be availed as instant loan
Repay the loan amount through easy EMIs ranging from 12 - 60 months
With its head office in Bangalore, BuddyLoan claims to be the loan app with the highest rate of loan approvals. These features set it apart from other loan apps -
Loan approval within 48 hours of applying
Get loan offers from Rs.10,000 to Rs.15 Lakh
Interest rates start at 11.99% p.a.
Comfortably pay off your loan in tenures of your choice ranging from 12 - 60 months
Any Indian citizen with a valid Aadhaar and PAN card can apply
If you are self-employed, you need company and GST details to be eligible
RupeeLend is a payday loan, i.e. an advance salary loan that can be availed in metro cities like Bangalore, Mumbai, and Delhi NCR. It is a part of the Casinity group, and is based out of Gurgaon.
Here are some other key features of the app -
Provides urgent loans for emergency situations
Reduces the need of excessive paperwork
Loan foreclosures can be done without any extra charges
Loan amounts ranging from Rs.10,000 - Rs.1 Lakh can be availed at 0.1% - 1% per day interest
Offers tenures from 61 - 90 days
Upwards claims that it is the quickest loan app in India for salaried persons. Here are some more features about the app -
EMIs start from as low as Rs.2,500, with interest rates ranging from 18% - 32% p.a.
You can get loans up to Rs.5 Lakh
The process is paperless and requires no collateral
Salaried individuals with a minimum salary of Rs.15,000 are eligible
The loan can be repaid conveniently over a period of 6 - 24 months
It is available in over 200 cities in India
There are a plethora of personal loan apps, all offering instant disbursals, paperless processes, and flexible repayment options. But to select the best loan app in India, you need to check other important factors such as the eligibility criteria, processing time, tenures available, and whether there are any hidden charges.
Check all criteria carefully before selecting an instant loan app according to your requirement.
If transparency, convenience, and flexibility is what matters the most to you, then moneyview is the wisest choice! Apart from affordable interest rates, moneyview loans are instant and come with no hidden charges.
Head over to the moneyview website or download the loans app now and enjoy financial freedom!
Instant personal loan apps are the best way to borrow money instantly. This article discusses the top 25 personal loan apps that provide instant loans. Check it out to know more.
If your loan application is approved, the loan amount will be deposited into your bank account.
Yes. Some online lenders offer personal loans to applicants with low credit scores or no credit scores at all. However, they may charge a higher interest rate for such cases.
Applying for an instant personal loan online is simple and time-efficient. With online loan applications, you can apply anytime and from anywhere without visiting a lender's office or the bank. If your loan application is approved, the loan amount will be deposited into your account right away.
Some online lenders allow you to pre-close a loan after a certain number of EMIs are paid. However, you may be charged a minimum fee for doing so. There are also some lenders who do not charge any prepayment fee.
Every personal loan app has a minimum eligibility requirement that needs to be met before loan approval. Once you meet all the eligibility terms, you can get an instant personal loan easily.
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