A personal loan can be of immense help. However the traditional way of applying for a bank loan is tiresome and time-consuming which is where online personal loan apps come to your rescue.

Best Instant Loan Loan Apps in India

Although there are numerous personal loan apps today, not every app offers a high degree of convenience and flexibility. Here’s a list of the best loan apps or applications in India that can offer advantageous personal loans.

Loan Apps Name Interest Rate (per month) Loan Amount
Money View 1.33% onwards Rs.5,000-Rs.5,00,000
Dhani 1.16% onwards 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

Features and Benefits of the 5 Best Instant Loan Apps In India

While there are a number of personal loan apps in the market today, we have chosen 5 best loan apps based on popularity and other criteria. These are -

Money View Loans App

One of the most popular loan apps in the country today, Money View offers an unparalleled range of features and benefits to its customers. Some of these include -

  • The loan amount, once application is approved, will be disbursed within 24 hours
  • The eligibility check can be completed within 2 minutes from anywhere in the country
  • You will only need to submit three documents and the application process is extremely simple
  • Affordable interest rates starting at 1.33% per month with repayment terms of upto 60 months
  • Borrowers can avail an amount between Rs. 5,000 to Rs. 5 lakh
  • Easy loan repayments through auto-debit EMIs and there is no need for collateral
  • Money View uses a unique credit rating model which is why even those with lower credit scores can apply.

Dhani Personal Loan App

Dhani is a credit application by Dhani Loans & Services that provides personal loans at affordable rates. Given below are some of the features and benefits of Dhani personal loans -

  • Borrowers can avail a loan amount between Rs. 1000 to Rs. 15 lakhs
  • The loan repayment period ranges from 3 months to 24 months
  • Loans are offered to both salaried and self-employed individuals
  • Entire application process is online and requires minimal documentation
  • Interest rates start at 13.99% per annum

MoneyTap Personal Loan 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. 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
  • Flexible repayment tenures of 2 months to 36 months is offered
  • Interest rates start at 1.08% per month and an amount between Rs. 3, 000 to Rs. 5 lakh can be availed
  • Borrowers will also a receive a complimentary MoneyTap-RBL credit card that comes with a number of features and benefits
  • Rewards and discounts on food, fuel, and entertainment expenses are also offered on this card
  • The applicants should be between 23 to 55 years old and have a minimum monthly income of Rs.30,000

KreditBee Personal Loan App

KreditBee offers two 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. 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. 2 lakh
  • The interest rate starts at 1.02% can varies based on the borrower’s credit history and other factors
  • The repayment tenure starts at 2 months and can go upto 15 months, again, based on the type of loan availed
  • The entire loan application process from start to finish is done online

PaySense Personal Loan App

It 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 doorstep collection of documents for ease and comfort of the borrowers
  • A loan amount between Rs. 5,000 to Rs. 5 lakh can be availed
  • These loans are available for both salaried and self-employed applicants
  • Even those with no credit history can avail affordable loans from PaySense

In Conclusion

There are a plethora of personal loan apps in India today all offering varied features and benefits. As for which is the best loan app, that depends entirely on you. Whether it is low interest rates, convenient application process, or a high amount of loan, choose a personal loan that fits your requirements the best. If you are looking for an affordable, convenient personal loan that is given to even those with low interest rates, visit the Money View website or download the loan app to apply today.