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Instant Personal Loan Apps
24 Best Instant Personal Loan Apps in India – (September, 2023)
Shiv Nanda
Aug 01 • 12 mins read

24 Best Instant Personal Loan Apps in India – (September, 2023)

12 mins read
Traditional banks take a long time to process personal loan applications, and money lenders are known to charge high-interest rates making the process very dubious. In this whole financial setup, personal loan apps have emerged as an excellent idea to provide safe and hassle-free immediate cash loan in India within 1-hour.

24 Best Instant Personal Loan Apps In India

App Interest Rate (per Month) Minimum & Maximum Loan Amount Tenure App Rating (Out of 5) Download App
1.08% ₹3,000 – ₹5 lakh 2 months to 36 months 4.1
Starting at 13.99% P.A ₹1,000 - ₹15 lakh 3 months to 24 months 3.4
10.75% - 25% (APR) ₹15,000 – ₹50 lakh 12 months to 60 months 4
1.02% - 2.49% ₹1,000 - ₹4 lakh Max 24 months 4.5
1.67% - 2.25% ₹10,000 – ₹1 lakh 3 months to 12 months 4.3
2.50% Per Month ₹1000 – ₹4 lakh 3 months - 18 months 4
1.33% ₹5,000 – ₹5 lakh Upto 60 months 4.7
12% - 30% (P.A.) ₹5,000 – ₹5 lakh 3 months to 36 months 4.4
20% - 36% (P.A.) ₹1,000 – ₹70,000 91 Days to 270 Days 4.1
24% - 49.5% Up to ₹5 lakh 12 months to 48 months 4.4
18% - 25% (P.A.) Up to ₹5 lakh 3 months to 24 months 4.3
1% - 6% ₹1000 – ₹30,000 Max 4 months 4.4
18% - 36%(APR) Up to Rs. 2 lakh 10 months - 36 months 4.3
10.49% p.a. onwards Up to ₹50 lakh 12 months - 72 months 4.6
1% – 36% Up to ₹5 lakh 3 months - 24 months 3.9
11% - 24% ₹50,000 – ₹10 lakh 6 months to 60 months 3.8
1.4 – 2.3% ₹5,000 – ₹5 lakh 3 months - 60 months 3.5
30% per Annum ₹1,000 – ₹25,000 Upto 3 months 3.2
11.99% - 59.99% APR ₹1000 - ₹5 lakh 3 months to 36 months 4.1
1% - 1.5% Up to ₹1 lakh 3 months to 12 months
starting at 9% Up to ₹2 lakh Up to 60 months 3.8
14% (P.A) Up to ₹5 lakh 3 months - 12 months 4
11.99% (P.A) ₹50,000 - ₹25 lakh Upto 60 months 2.2
9.9% p.a. onwards Up to ₹20 lakh 3 months - 72 months 4

Data Source: Google Play Store and respective apps’ websites. (Last checked – 10th May, 2023)

When you are in urgent need of a quick cash loan, there are very few options available. One is to seek a personal loan from traditional banks, which can be a time-consuming process requiring a lot of paperwork and multiple document submissions.
The other option is taking a loan through a credit card, but interest rates are extremely high. Asking your friends or relatives for money is another option, but it can be embarrassing. And not everyone is lucky enough to get a salary advance loan in India from their employers. So, the best option for a quick cash loan in India is through personal loan apps. The internet has revolutionised the way India works. Today you can purchase anything from vegetables to a Smart TV and more, sitting in the comfort of your home. The situation is no different if you need fast and easy instant personal loans in India. There are best instant loan apps in India, which can make your personal loan process a lot easier and convenient. You can apply online with the requisite scanned documents, and the loan amount can be delivered to your doorstep or credited to your bank account, depending on your convenience.

MoneyTap is India’s first app-based credit line. The best part is its no-usage-no-interest feature, which has made taking credit more affordable. Thanks to this feature, you only pay interest on the amount used. It is a personal loan app that provides a line of credit to customers, which works as an instant loan or a credit card.

MoneyTap is essentially a money lending company with flexible interest rates, currently servicing clients in Delhi NCR, Mumbai, Bangalore, Hyderabad, and Chennai as well as 30+ cities in India.

Let’s take a look at a hypothetical example to understand how MoneyTap’s Personal Loan 2.0 works.

Arjun has been approved for a credit line of ₹ 1 Lakh with MoneyTap but he uses only ₹ 50,000 out of it. If he had taken a traditional personal loan he would have been charged interest on the entire ₹ 1 Lakh from day 1. But, with MoneyTap, he will only be charged interest on the amount he uses (₹ 50,000).

With MoneyTap Amount to be paid after 1 year, assuming 13% interest rate, loan amount = ₹ 100,000, used only = ₹ 50,000: 50,000 X 13 = 56,500 Arjun will end up paying ₹ 56,500 by end of the year. With a traditional personal loan Amount to be paid after 1 year, assuming 13% interest rate, loan amount = ₹ 100,000: 100,000 X 13 = 113,000 Arjun will end up paying ₹ 113,000 by end of the year.

Dhani popularly marketed as phone se loan app, instantly disburses the loan amount to your bank account. You can apply for a personal loan anytime, anywhere. You can get a loan of up to ₹ 15 Lakh instantly at an interest rate starting at 13.99%. You can download the Dhani loan app for free, enter your Adhaar card number, your loan amount, and get the loan amount in your account instantly.

IndiaLends is one of the cash loan apps in India for instant personal loans, credit cards, and free credit reports.IndiaLends offers instant personal loans online with the best interest rate and disburses the loan within 48-hours. IndiaLends’ instant loan app in India extensively makes use of data and technology to improve workflows and risk assessments so that the loan disbursal process is efficient, shorter and easier.

KreditBee is an instant personal loan app for young professionals. You can get a loan of up to ₹4 lakh. The loan process is 100% online. The disbursement is done within 15 mins, and the amount is directly credited to your bank account.

NIRA is a FinTech company that offers a line of credit to salaried professionals in India. The personal loan offered to you is in the form of a line of credit, which has a credit limit range starting from ₹ 10,000 to ₹ 1 Lakh. The loan tenure ranges from 3 months to 1 year. The interest applied to the loan amount depends on how much you borrow and when you repay the borrowed amount.

CASHe is an app-based digital lending platform that provides short-term personal loans for various financial needs, but only to salaried individuals. You need to provide documents such as salary slips, bank statements, address proof, and PAN card, which can all be uploaded through the cash loan app while applying for a loan. Capital you can also check loan eligibility and interest rates online, using a quick calculator. The approved loan amount can range from ₹ 1,000 to ₹4 lakh, with tenures ranging from 15 days to 6 months. Repayments can be made through a bank transfer or cheque deposit every month.

With Money View personal loan app, you can get a personal loan in just 2 hours. Whether you want to remodel your home, buy an expensive ride or cover your wedding expenses, a personal loan from Money View is completely paperless, fast, easy and flexible. Money View loan amount ranges from ₹ 5,000 to ₹ 5 Lakh. The repayment period is flexible; going all the way upto 5 years.

Fibe, a FinTech startup in Pune has been creating ripples in the way money lending happens in India. Its personal loan app allows an easy and fast way to get instant loans. The loan amount limit is up to ₹ 5 Lakh at an interest rate starting from 12%.

SmartCoin is a FinTech company with a mission to offer its HomeCredit1 customers a user-friendly and scalable lending platform. It is a personal loan app in India that provides instant loan for individuals looking for short-term personal loans. Use its mini loan app to get loans from ₹1,000 to ₹70,000. The company caters to all profiles like support executives, business owners, salaried professionals, managers, stay-at-home moms, teachers and more with no minimum limit on the salaries, unlike other personal loan apps.

Home Credit India is a part of the international Home Credit Group that has a presence across ten countries in Europe and Asia. The India chapter started in 2012 and it already has operations in over 60 cities across 15 states. The personal loan app sanctions personal loan of up to ₹5 lakh with a repayment tenure ranging from 1 year to 4 years. The instant loan app in India makes financial services simple, transparent and easily accessible to you.

LazyPay is powered by PayU. You just need to enter your mobile number to find out your personal loan eligibility. With quick approvals and safe online loan application processing, LazyPay disburses 1 million+ loans every month. Its key offerings include pocket-friendly EMIs, an instant personal of up to ₹5 lakh through an easy digital process with minimal documentation.

mPokketis an instant loan app in India for college students. It works on the concept of pocket money for students. Once your personal loan application is approved the personal loan amount is sent to your bank account or your Paytm wallet. The initial amount approved is ₹ 500 and your borrowing limit will increase over time with good usage. You can repay your loan within 1 to 3 months.
This company has planned its product to take on personal loans. Thus, its features are in sharp contrast to those of personal loans. One-time application, one-time approval, instant disbursals, the option to access the credit anytime, the option to decide the loan tenure, and a flexible repayment policy are a few hallmarks of Flexsalary. The company has no fixed EMIs and provides instant approval, making it function as an advance salary loan app.
Bajaj Finserv offers personal loans that are instantly approved and disbursed within just 24 hours. These collateral-free loans are offered to women, government and public sector unit (PSU) employees, schoolteachers, college professors and more. The personal loans are offered with a feature to reduce your instalment by up to 45% by paying interest-only EMIs. Once approved, you borrow as much as you need from your approved loan amount without the hassle of reapplying for the loan.
PayMeIndia is an innovative FinTech app that offers instant payday loans, advance salary loans,short term cash loans to salaried employees at attractive interest rates. These cash loans are designed to cater all your short-term financial needs that include a medical emergency, purchasing a big-ticket item, financing a wedding, and many more. The traditional and modern lending techniques are blended with technology to make the loan application process quick and simple. The cash loans are offered with convenient and flexible repayment plans.
LoanTap is an online platform that delivers instant, flexible loans on attractive loan terms to salaried professionals and businessmen. This fintech lending platform is committed to deliver customised loan products to millennials in an otherwise cluttered and dull personal loan segment. LoanTap offers a variety of innovative products such as personal loans, personal overdraft, EMI free loans, credit card takeover loans, rental security deposit loans, advance salary loans, and house owner loans.

Founded by SayaliKaranjkar and Prashanth Ranganathan, PaySense is an instant money app that offers instant cash loans online. You can use a phone or laptop to check your loan eligibility, submit your KYC details and apply for a loan, receiving approval within 5 hours. The company provides personal loans online of up to ₹5 lakh and you can use anywhere from ₹5,000 up to your entire approved limit at one time. PaySense also offers an EMI calculator through which you can check how much you will be paying every month.

Incepted in 2018, RupeeRedee is a digital lending platform that allows consumers to fulfill their lending needs in simple steps with the help of technology. The app gives you access to personal loans within a few minutes at your fingertips. It is a tech-driven digital lending platform that leverages technology and data sciences to make lending accessible for India’s massive population of underserved customers. With robust KYC and a smooth process, it makes the consumer journey hassle-free, quick and also safeguards your data. Operating with its own Captive NBFC FincFriends Private Limited in the background to facilitate short-term personal loans coupled with digital lending services and have deployed various forms of underwriting including alternate data sources and is not restricted to credit score-based underwriting only. Following the Fair Practice Code and compliance process, it offers its consumer a great experience and satisfaction.

StashFin is one of the best online loan apps in India. The startup was founded by a team of experienced financial services professionals with an aim to make lending easier for people in India. The team has worked with various disciplines that include customer experience, technology and process re-engineering and through its collective experience, StashFin aims to deliver best in class services and superior convenience to its customers. Apply for an instant loan through its online loan app in India. Your request is approved and the money is transferred in almost no time.

Credy is one of the quick loan giving apps in India that provides personal loans on personalised terms. With no hidden costs, no requirement of collateral or a guarantor, fast online processing, and acceptance of a low CIBIL score, Credy is simple, fast and low-cost.

The company provides loan durations ranging from 3 to 12 months for amounts upto ₹1 Lakh. You can utilise Credy for quick cash loans, enhancing lifestyle, refinancing loans and credit card bills, and for financing education- either for yourself or your children.

Upwards claims to be India’s quickest personal loan provider for salaried individuals looking for loans upto ₹ 2 lakh. Upwards offers hassle-free personal loans to people across various job profiles such as teachers, accountant, nurses, software engineers, retail store employees and more with a minimum salary of ₹ 15,000.

ZestMoney is a unique finance platform that makes digital finance affordable and accessible to millions of Indians with inadequate credit history. They help borrowers find a lending partner by using AI, digital banking, and mobile technology. This credit app helps you break down your larger payments into smaller, manageable expenses and allows you to apply for a quick instant loan.
Registered as an NBFC – Investment and Credit Company with the Reserve Bank of India, this personal loan app is convenient for salaried and self-employed individuals. With a hassle-free documentation process, this instant loan app disburses your loan request within 30 minutes of approval.
A new-age fintech start-up, the Navi app has a user-friendly interface that’s easy to navigate. They provide loans in India to meet your financial emergencies like medical bills, travelling expenses, renting a venue, etc. With minimal documentation required, this personal loan platform strives to make financial services transparent, simple, and accessible.

With so many personal loan apps in the market, the options available for quick cash loans have increased making it easier for you to seek an urgent cash loan quickly. An online search and a quick comparison between the various cash loan apps in India for quick cash loans online bring up a multitude of options ranging from payday loan in India, instant loan in India, to salary advance loan in India.

The times really are changing, and personal loan apps are ensuring that fast and easy cash loans in India are a reality!

Getting a personal loan was never this easy and instant personal loan app download makes it easier. Get the best loan app in India.

Download MoneyTap!

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