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30 Best Instant Loan Apps in India (2023)

India is quickly witnessing a new set of perspectives, behaviors, conventions, and practices toward financial aims and means due to a constantly expanding economy.

Nowadays, people don’t mind getting a personal loan without collateral or with no end-use limitations to cover an immediate necessity. The most feasible financial cushion is one that the borrower can utilize for anything.

Instant loan apps in India have noticed a peak in the number of loans taken out by young people for a variety of reasons, including funding travel, home renovations, vehicle purchases, and even weddings.

Personal loan applications have changed the way we borrow money, enabling rapid and inexpensive cash loans in India. Acquiring a personal loan is now easier than ever, and the quick instant personal loan apps make it even smoother.

There are now more options for quick cash loans. Thanks to the proliferation of personal loan applications on the market, makes it simpler for you to obtain a loan right away.

List of Instant Loan Apps in India [2023]

Due to the platform/app-based advantages and products they provide, such as individualized loans, low-interest loans, and online credit cards, as well as their ease of use and round-the-clock tracking, money lending applications have gained popularity in India.

In this blog, we’ve compiled a list of 30 top loan applications in India that are revolutionizing the Indian financial industry and how young Indians borrow money.

1. Paytm Personal Loan

Paytm Personal Loan App Screenshot used in Instant Loan Apps

Paytm is a digital payment and financial services company headquartered in Noida, India. It has become one of the best loan apps in India. Its mission is to include 500 million neglected and unserved Indians in the economic mainstream with improvements to financial services and products.

They provide options for flexible loans & tenure, you can opt for any loan amount between INR 10,000/- and INR 2.5 Lakhs into an EMI. Utilizing just your mobile device, submit a loan application whenever, wherever. Use their EMI calculator to determine your monthly payments on the loan balance.

The processing charge ranges from 2.5% to 6% of the sanctioned amount plus GST, with the lowest interest rate starting at just 9.99% per year and convenient installments of 3 to 72 months.

To be eligible for the loan, you must have an active bank account so that the loan money can be transferred to your account and the EMI can be deducted online. Also, you must fall between the age group of 25 to 60 to be authorized for the loan.

Learning Desk: One perk of getting a personal loan online is that you may borrow money without putting up any collateral.

2. PaySense

PaySense Loan App Demo Screenshot

Founded in 2015 and now owned by Indian Payment Gateway PayU, PaySense is a Mumbai-based startup providing financial assistance. They are experts in applying cutting-edge data sciences to provide credit without the inconvenience of difficult application procedures, demanding physical verification, and protracted waiting periods.

PaySense is one of the best loan apps in India and can be used for various purposes, including home and personal loans. Monthly interest rate range from 1.4% to 2.3%, which makes it simpler for you to pay EMIs. For late payments of EMIs, there is a fixed charge of INR 500+ GST.

PaySense offers loans starting from INR 5,000/- to INR 5 Lakhs, depending on your eligibility. If you want a larger loan amount, you can submit a request, and they will get in touch with you.

3. MoneyTap

Money Tap App Screenshot with description

MoneyTap is among the best app-based credit line that offers simple and user-friendly application procedures. They are always working to provide customers with the easiest and most seamless credit experience possible.

They provide a wide range of personal loans, including ones for marriage, education, travel, home renovation, used cars and vehicles, debt consolidation, and many more!

MoneyTap Personal Loan Advantages include interest rates beginning at 12.96% per year to 36% per year. The precise interest rate is determined by your credit score, which is based on your past repayment history, defaults, and rejected checks.

Loan Amount ranges from INR 3,000/- to INR 5 Lakhs with a loan tenure of up to 36 months. The age range for eligible applicants is 23 to 55 years.

4. Money View

MoneyView App Screenshot

Money View is the best instant loan app that provides a comprehensive range of tailored credit products such as Personal Loans, Cards, BNPL (Buy Now Pay Later), and personal financial management solutions. Their patented data methods enable credit for underserved sectors by providing a 360-degree risk assessment.

Because everyone’s needs are diverse, applicants can borrow any amount between INR 5,000/- and INR 5 Lakhs based on their credit score. Their interest rate starts at 1.33% per month. Clients don’t have to pledge any assets or arrange for a guarantor.

The process has made the Money View Loan application process, simple. After providing some basic details, one can check their eligibility in just two minutes.

The borrower just has to select Loan Tenure, decide the loan amount and payback period, confirm their income, finish their KYC process, and get their funds by direct bank account transfer in a matter of minutes.

5. Navi

Navi Personal Loan App Screenshot

My Favourite, Navi the best instant loan app that tries to make it simple, transparent, and affordable. You can access a variety of services, such as personal loans, mortgages, home loans, and health insurance, without any documentation. by downloading the App from the Google Play Store or App Store.

After downloading the App, you can avail flexible EMI choices and low financing rates beginning at 9.9% P.A. Choose your desired tenure from 6 months to 72 months and repay your loan without concern. The amount of the loan and the interest rate are decided based on your eligibility, and you are not required to provide collateral or a guarantor.

One thing that I like most about this instant loan app is that it offers loans with No or Very Minimum Processing Fees. One can avail loan of up to INR 20 Lakhs after submitting PAN and Aadhar numbers.

6. BuddyLoan

Buddy Loan Personal Loan Features

Buddy Loan is one of the most reliable rapid personal loan applications in India. It is a simple digital platform that is available round-the-clock on the web and through an Android app. In addition, users may take advantage of attractive offers and discounts like waiver of processing fees.

With the BuddyLoan app, you can borrow between INR 10,000/- to INR 15 Lakhs in a matter of minutes. You may select from various flexible repayment options starting at 6 months to 5 years, and interest rates start at 11.99% P.A.

Professionals, business people, and salaried people can apply for loans through BuddyLoan. For those who are employed, their net monthly income must exceed Rs. 18,000/- per month. Furthermore, if you are a professional or company owner, you must present bank documents and evidence of income.

7. Kissht

Kissht Loan App Details

Kissht is one of the instant personal loan apps in India, providing small businesses with rapid credit based on QR codes so they may buy their daily inventory and expand. Their persistent efforts to give clients economic independence have helped them flourish in a range of business categories, including Online Purchase Loans, Personal Loans, and their newest services.

According to the credit profile, small business owners may apply for quick loans ranging from INR 10,000/- to INR 1,00,000/- using the Kissht app, which also offers an Instant Line of Credit. The loan term ranges from 3 to 24 months, with an APR (Annual Percentage Rate) of 14% to 28% annually.

Kissht provides a hassle-free shopping experience for both online and offline purchases made at merchant stores. Get ready to have a simple, stress-free, and savvy experience with Kissht. Their eligibility criteria require you to be an employee with a monthly income of at least INR 15,000/- and if you are self-employed, must make at least INR 1.2 Lakh per year.

8. TrueBalance

TrueBalance Instant Cash Loan

True Balance offers prepaid payment instruments in the form of mobile wallets by the Master Directions on the Issuance of Prepaid Instruments issued by the RBI. Led by five fundamental values, they foster an organizational culture that values open channels of communication, equality of opportunity for growth, and total transparency.

Over 75 million users nationwide have confidence in True Balance to be the best instant loan app. You may get a personal loan with a range of loan amounts from INR 5,000/- to INR 50,000/- and terms ranging from 62 days to 116 days. As the loan is available for a short duration, the interest rate is 5% per month.

True Balance Loan Eligibility Criterion includes clients being Indian nationals and the age range should be 21 to 50 years. You must possess his PAN card, and Aadhar card to apply for a loan. A CIBIL score of 680+ and a monthly income of INR 20,000/- is enough to get a loan credited to your bank account.

9. LazyPay

LazyPay Credit App Details

LazyPay is one of the instant personal loan apps in India that gives quick loans, and it is powered by PayU, the same company that purchased PaySense. It provides speedy approvals and secure loan application processing online. With the LazyPay App, all you need is your cellphone number to find out if you qualify for a loan.

Their ground-breaking technology develops the accessibility of financial assistance in emerging areas by allowing billions of customers and millions of businesses to trade online. The “Credit Shield” feature of LazyPay allows customers to keep track of any changes to their credit scores and receive alerts when such changes occur.

LazyPay is the top rapid credit app in India, giving customers loan limits between INR 10,000/- and INR 1 Lakh with immediate approval and no collateral. 15% to 32% per year are the interest rates for personal loans, depending on your credit score, income, and age.

10. KreditBee

KreditBee App Screenshot and Personal Loan Details

KreditBee is an Instant Personal Loan App for self-employed and salaried professionals, where they may apply for a Personal Loan ranging from INR 1,000/- to INR 3 Lakhs, depending on their needs.

Physical verification is not required as the entire process takes place inside the app. You must wait for approval and verification after submitting the necessary documentation. Even if you’ve never taken out a loan or don’t have a credit card, you may still apply for loans with KreditBee.

Their interest Rates go up to 29.95% P.A. To meet the client’s financial demands, they provide loans with various ticket sizes and payback terms. These occur frequently and can be anything, such as an unexpected medical emergency, festival buying, paying your EMIs or other debts, etc.

11. Bajaj Finserv

Bajaj Finserv Logo

Bajaj Finserv a leading Finance Company in India also deals in instant personal loans. The company has been headquartered in Pune and operating in the nation for more than ten years.

Their 0% EMI card may be used to fund your pending, asset management, wealth management, and insurance are its main areas of concentration. With fast approval, you may borrow up to INR 25 Lakh from Bajaj Finserv. You can obtain the money within 24 hours after satisfying the simple eligibility requirements and finishing minimal paperwork.

Its mission is to deliver clients with financial solutions through financing asset purchases and lifestyle enhancement.


IDFC First Bank Logo

IDFC First Bank is an Indian private-sector bank. After getting a universal banking license from the Reserve Bank of India in July 2015, the bank began doing business on October 1.

Interest rates on personal loans start at 10.49% and go up to 25%. Their home loan interest rates range from 7.95% to 8.40% with a processing fee of up to 1%.
2% of the outstanding EMI or INR 300/- applies to late payment penalties. Their maximum loan amount goes up to INR 40,00,000/-. Late payment penalties may be charged from the date of default until the date of payment.

This is the best instant loan app if you need a significant sum of money for any personal expenses. You may get your loan amount accepted in a matter of minutes if you follow the procedure, which is relatively easy.

13. ZestMoney

Zest Money App Review

ZestMoney is one of India’s largest and fastest-growing instant personal loan apps, launched in 2015 by Lizzie Chapman, Priya Sharma, and Ashish Anantharaman. Through its lending partners, ZestMoney enables personal loans to consumers who are chosen based on several criteria, such as good payback habits, etc.

The loan term might range from 3 to 34 months with Zero prepayment fees. INR 1,000/- is the minimum loan amount and INR 10,00,000/- is the maximum loan amount. ZestMoney is designed to better the lives of more than 300 million families who are denied access to credit cards or any other type of formal financing due to a lack of credit history.

They are on a mission to use technology-driven solutions to improve India’s quality of life. Due to their cutting-edge technology and efforts to make inexpensive digital banking available, ZestMoney was chosen by the World Economic Forum as a 2020 Technology Pioneer.

14. Dhani Loans

Dhani Loans Website Image

Dhani Loans and Services Limited, previously Indiabulls Consumer Finance Limited, is a 100% subsidiary of Dhani Services Limited and is a non-deposit-taking NBFC licensed with the Reserve Bank of India. The business saw huge potential as digitalization disrupted the banking and financial industry and the launch of Dhani Loans lead the retail lending market.

Access loans up to INR 15 Lakhs quickly with a 12% interest rate P.A. You may quickly receive the loan money in your account by downloading the Dhani loan app and entering your Adhaar card number, and loan amount.

By giving people more access to financial services, utilizing technology, and placing faith in their consumers, they want to have the greatest possible positive influence on people’s lives.

15. CASHe

Cashe Instant Credit App details

CASHe is a fintech startup that offers rapid, flexible, unsecured personal loans to young salaried millennials across India via a smartphone application. V. Raman Kumar created CASHe in 2016 to reintroduce into the formal credit system millions of young salaried millennials who had been denied credit by traditional banks and financial organizations.

Through sophisticated, intelligent digital software, CASHe offers unsecured short-term personal loans ranging from INR 1,000/- to INR 400,000/- for loan terms ranging from 3 months to 18 months. The term of your loan determines the interest rate. The interest rate for 62 days will be roughly 3%, 2.75% for 90 days, 3% each month for 180 days, and so on.

You must be a paid employee of a reputable company. The age limits range from 23 to 58 years old. You must be a resident of India. After enrolling on the swift lending app, you may rapidly verify your loan eligibility.

16. Fullerton India

Fullerton India Website's Screenshot

Fullerton India Credit Co. Ltd. is an Indian non-banking financial organization. Its headquarters are in Mumbai, India, and it handles funding for both urban and rural markets. More than 2.3 million consumers are served by the company’s 628 branches, which have been created throughout India.

Fullerton India provides personal loans to both salaried and self-employed clients. For a personal loan from Fullerton India, you must be employed and make a minimum of INR 15,000/- in fixed monthly wage. You can get loans in the range of INR 50,000 to INR 25 Lakhs.

The minimum age requirement to apply for a Fullerton Personal Loan is 21. There is no need for a guarantor, and the interest rate (reducing balance) ranges from 11.99% to 25% annually. Processing fees range from 3% to 6%.

17. Fibe

Fibe Personal Loans App Image

Fibe is one of the most advanced instant personal loan apps that will revolutionize the way loans are acquired in India. They combine innovative credit scoring techniques for enhanced consumer profiling because they are cutting-edge internet banks.

Education loans from Fibe can be utilized to pay your tuition directly. Get credit for up to five times your annual salary to cover medical costs. You can track and check your credit score for free each month. If you fulfill the requirements, the Fibe Personal Loan’s loan amount ranges from INR 50,000/- to INR 5,00,000/-

Fibe Personal Loan applications are submitted entirely online with minimal paperwork. With an easy repayment schedule that extends up to 60 months, and is easy to pay back.

18. NIRA

NIRA Loan Website's Home Page Image

NIRA is Indian best instant loan app that provides low-income salaried persons with small-ticket loans. Their goal is to make the world a place where everyone can obtain quick, hassle-free financing at a reasonable cost.

You must be an Indian citizen between the ages of 21 and 65 to be eligible for an online fast personal loan through NIRA. You must have a college degree, have been employed for at least six months, and make at least INR 20,000/- per month to qualify.

Apply online right away to receive an instant cash loan from INR 5,000/- to INR 1 Lakh in only 3 minutes. Thanks to NIRA’s quick approval of fair cash advances!

You have the option of selecting a duration between three and twelve months. Their interest rate goes as high as 24% to 30%. Flat INR 500 processing fee. 3 to 12-month loan terms are available. INR 5,000/- INR 1,00,000/- is the coverage of the loan amount.

19. Credy

Credy Website's Home Page Image

Credy, situated in Bangalore, India, is a full-stack consumer loan and Fintech startup operational in Bangalore, Chennai, Mumbai, Pune, and Hyderabad. It is one of the most customer-centric instant personal loan apps in India. Their cutting-edge technology-driven financing options support a variety of consumer needs, including financial assistance, emergency expenses, and educational costs.

For personal loans, It provides loan amounts of up to INR 1 Lakh. Their loans have terms ranging from three months to a year. Customers of Credy may take advantage of transparent rates that start at just 1% per month.

Customers are not subject to any additional fees or hidden costs, and there is no requirement that you put up any property as security for the loan amount. It is a fairly quick process because detailed terms are offered in just three hours and the loan cash is released in only 48 hours.

20. mPokket

mPokket Website's Home Page Image

mPokket is one of the best loan apps in India that gives loans to college students and young working professionals. Users can download the app from Google Play Store. Direct deposit of the funds is made into their bank account. They are an RBI-approved non-banking finance company.

Borrowers can choose to return the money over three months with a small interest penalty under the flexible repayment schedule. Depending on the loan amount, processing and loan management costs range from INR 50/- to INR 200/- + 18% GST. The loan amount ranges from INR 500/- to INR 30,000/- with a monthly interest rate ranging from 0% to 4%. The longest period is of 120 days.

Users are not required to provide any collateral or paper documentation. To register, be authorized, and begin using the app to acquire an immediate personal loan, you just need to provide a few papers.

21. FlexSalary

FlexSalary Website's Home Page Image

FlexSalary is an instant personal loan app of Vivifi India Finance Private Limited, a Reserve Bank of India-registered non-banking finance company (NBFC). Vivifi, founded by technocrats and professional bankers with over 75 years of combined expertise in secured and unsecured retail lending, serves consumers throughout the credit spectrum.

The objective is to provide a range of simple, easily accessible financial and lending services to all desirous clients in a safe, efficient, and professional atmosphere, free of prejudices or biases based only on the customer’s capacity to repay.

You can apply for a loan between INR 4,000/- and INR 2,000,000. The annual percentage rate (APR) can reach 36%. The duration spans from 10 to 36 months. With no late fees, bounced check costs, or pre-payment penalties, they make rapid loans simple.

22. PayMe India

PayMe Website's Home Page Image

PayMe India is a cutting-edge Fintech business that is revolutionizing the loan industry. The business was established in 2016 to use technology to make obtaining financial aid easier.

The firm collaborates with RBI-registered NBFCs to provide advance salary loans to bourgeois or any salaried person with financial limitations. Their lending methodology enables borrowers to obtain personal loans that are simple, quick, safe, and reasonable with the use of one of the best instant personal loan apps.

PayMe India offers hassle-free loans ranging from INR 500/- to INR 5 Lakhs. You can apply for an online personal loan by meeting the minimum eligibility requirements. You can apply for an online personal loan by meeting the minimum eligibility requirements. Receive a personal loan up to INR 2 Lakhs instantly from PayMe India at a 36% annual interest rate and no processing charge. Repayment terms range from 0 to 2 months.

23. SmartCoin

SmartCoin Website's Home Page Image

SmartCoin is the best instant loan app in India that allows you to obtain rapid loans. By offering a variety of financial services, such as microloans, to the enormous underserved middle/lower-income sector, they are on a mission to build India’s biggest completely automated financial inclusion organization.

The bank determines your eligibility and restrictions. SmartCoin offers clients a user-friendly interface for loan applications.

The SmartCoin platform spends approximately 10,000 loans each month, with amounts ranging from INR 1,000/- to INR 50,000/-, with terms ranging from 91 days to 270 days. The loan limitations are determined automatically based on your SmartCoin Credit Score.

24. StashFin

Stashfin Website's Home Page Image

Stashfin is one of the best loan apps in India, founded by a group of former finance professionals. They provide quick loans to assist you with the perfect financial boost in the most convenient and hassle-free method. The team has collaborated with reputable banking and financial services businesses such as Bank of America, Merrill Lynch, Citi, Deloitte, Kabbage, and others.

The loan amounts range from INR 1,000/- to INR 5,00,000/- with repayment terms ranging from 3 months to 36 months. Although rates may vary depending on the circumstances, they provide loan rates between 11.99% and 59.99% APR. All loans are repaid in equal monthly installments (EMIs) by electronic transfer.

To qualify for a personal loan, individuals must meet a series of criteria, which are known as personal loan eligibility. They include having Indian citizenship, being at least 18 years old, earning more than ₹18,000/- a month, having access to NetBanking, and owning a good credit history.

25. LoanTap

LoanTap Website's Home Page Image

LoanTap provides cutting-edge loans to assist the younger generation in living the lives they desire. They have become the best instant loan app market by offering instant personal loans with customizable terms.

With interest rates starting at 18% and terms ranging from 6 months to 60 months, LoanTap provides the finest personal loans between INR 50,000/- and INR 10,000,000/-. The loan is available with interest rates ranging from 15% to 24% P.A. The business calculates the suitable rate of interest for a client after considering several variables, including income, loan amount, age, credit score, job experience, payback duration, etc.

Clients must satisfy a variety of criteria to be approved for a personal loan: Ages 23 to 58, salaried employees with a minimum monthly salary of INR 30,000/- (Resident India Nationals only), with a minimum of two years in a job or profession, and an owned or rental residence.

26. IndiaLends

IndiaLends Website's Home Page Image

IndiaLends is one of the best loan apps in India with headquarters in Delhi-NCR. It was established by Gaurav Chopra, a former UK-based banker. He has over 15 years of experience in fintech, credit statistics, and digital money across both Indian and international markets.

The interest rates for personal loans extend from 10.75% to 25%, and processing fees typically range from 1 to 4% of the loan amount. The loan amount spans from INR 15,000/- to INR 50 Lakhs, and the tenure is between 12 and 60 months.

Late or Overdue Fee is typically between 2% and 5% of the outstanding loan. All of your accounts, financial history, and credit score are shown.

27. CashBean

CashBean Website's Home Page Image

CashBean is one of the most efficient instant personal loan apps for Indian smartphone users seeking quick financing. Customers may access all of their online financial needs from CashBean at any time of day or night. Thanks to the assistance of accredited NBFC P.C. Financial Services Private Limited.

From INR 1,500/- to INR 60,000/- are available as loans through CashBean. The repayment time ranges from three to six months, with an interest rate that begins at 0.07% each day (25.55% annually). Using the CashBean mobile app or the company website, you may apply for a loan and thanks to a computerized system, get money in a matter of minutes.

For workers and independent contractors to easily acquire personal loans, there must be a steady source of income. These are the requirements for being eligible for a CashBean personal loan. Between the ages of 18 and 56, the applicant must possess a current Pan Card and Address Verification.

28. Home Credit

HomeCredit Website's Home Page Image

Home Credit enables people to borrow quickly and securely both online and offline, their responsible lending strategy enables underprivileged clients with little or no credit history.

You can also apply for a personal loan for new enterprises from Home Credit with amounts up to INR 2.4 Lakhs. The rate of interest starts at 2% per month. The maximum loan amount is INR 5 Lakh, and the loan terms range from 9 to 51 months for returning customers and 6 to 48 months for new customers. The processing charge is 5%.

The applicant must be an Indian citizen between the ages of 18 and 65 and possess valid identification and evidence of residency and need to be actively making a living. There should be a 90-day interval between each application for a home credit. Credit Amount up to INR 60,000/-, term of Loan Up to 26 Months. Minimum down payment or advance payment 0% – 40%.

29. Branch Personal Loan App

Branch Website's Home Page Image

The branch personal loan app has become one of the best instant personal loan apps in India by offering outstanding financial services. With the use of machine learning, Branch has developed an algorithmic method for evaluating creditworthiness on clients’ cell phones.

They create extremely customizable loan options using machine learning algorithms that examine hundreds of data points. Loan amounts at the Branch range from INR 750/- to INR 50,000/- at the Branch. 9 to 36 weeks are the range of loan terms. Depending on your loan selection, interest ranges from 3% to 25% with an equivalent monthly interest of 2.8% to 3.1% and an APR of 35% to 36%.

All you require to meet their eligibility criteria is an active cellphone number, a PAN number, an Aadhaar card or Voter ID, and a bank account number. To build your credit score, they will also need to access the information on your phone.

30. RapidRupee

RapidRupee Website's Home Page Image

RapidRupee offers a variety of loans, including cash loans, salary advance loans, and personal loans. RapidRupee attracts clients with the luxury of instant cash, within a disbursal time of as little as 2 hours with a promise of zero hassle. Their services have transformed the lives of numerous people.

A squad of tech-savvy, independent minds and problem solvers put in a great deal of effort for customers’ convenience. You may acquire a fast loan ranging from INR 1,000/- to INR 60,000/- via the RapidRupee app, depending on your needs. The monthly interest rate for personal loans begins at just 1% or 12% annually.

Their eligibility parameters are straightforward. There are only 2 criteria for you to be eligible for a loan from RapidRupee: you must be between the ages of 22 and 59 and have an earning of at least INR 10,000/- each month.

Aditya Goyal
Aditya Goyal

Author, Researcher, and SEO Expert with over 6 years of experience in Writing Content on Money Making Ideas, Startup Resources, and Business Growth. With a background in Marketing and Operations, I love to help individuals/businesses to create their own success stories.

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