30 Best Instant Loan Apps in India

Due to its growing economy, India is seeing new financial viewpoints, behaviours, traditions, and ractices. People today don’t mind acquiring a personal loan without collateral or end-use restrictions for an instant need. A financial buffer that the borrower can use for anything is best. Instant lending apps in India have seen a rise in young people borrowing for travel, home improvements, car purchases, and weddings.

Personal loan applications have revolutionised Indian cash loans, making them fast and affordable. Personal loans are easier than ever, and speedy lending apps make it even easier. There are additional fast cash loan choices. The abundance of personal loan applications makes it easier to get a loan quickly.

List of Instant Loan Apps in India [2023]

Money lending apps in India are popular because of their platform- or app-based benefits and goods. This blog lists 30 top Indian loan applications that are changing the financial business and how young Indians borrow money.

Paytm Personal Loan

Indian digital payment and financial services startup Paytm is based in Noida. It is one of India’s greatest loan apps. It aims to add 500 million neglected and unserved Indians to the economy by improving financial services and goods. They offer flexible loans and terms, as well as EMIs for amounts between INR 10,000 and INR 2.5 lakh. Apply for a loan on your phone, anytime, anywhere. Determine your loan balance in monthly installments with their EMI calculator. The processing fee is 2.5% to 6% of the sanctioned amount plus GST, with the lowest interest rate at 9.99% per year and easy instalments of 3 to 72 months. You must have an active bank account to receive the loan money and deduct the EMI online. You must also be 25–60 to get the loan.

PaySense

PayU founded PaySense in 2015, which is a financial aid company with offices in Mumbai. They specialise in using cutting-edge data sciences to grant credit without complicated applications, physical verification, or long wait times. PaySense, one of the top lending apps in India, may be used for house and personal loans. Monthly interest rates range from 1.4% to 2.3%, making EMIs easier to pay. INR 500 plus GST is charged for late EMI payments. PaySense offers INR 5,000 to INR 5 lakh loans, depending on eligibility. If you need a larger loan, submit a request, and they’ll contact you.

MoneyTap

MoneyTap is one of the top app-based credit lines with easy application. They strive to make credit easy and effortless for customers. They offer personal loans for marriage, school, travel, home improvement, used automobiles, debt consolidation, and more! The MoneyTap personal loan advantages include 12.96% to 36% annual interest rates. Interest rates depend on your credit score, which is based on repayment history, defaults, and denied checks. Loans from INR 3,000 to INR 5 lakhs are available for 36 months. The age limit for applicants is 23–55.

Money View

Money View, the finest rapid loan app, offers personal loans, cards, BNPL (buy now, pay later), and personal financial management solutions. Credit for underserved industries is enabled by their innovative 360-degree risk assessment data technologies. Based on their credit score, applicants can borrow between INR 5,000 and INR 5 lakh because everyone’s demands are different. Their monthly interest rate is 1.33%. Clients need no assets or guarantors. The approach simplifies Money View Loan applications. One can check eligibility in two minutes after submitting basic information. The borrower must choose loan tenure, choose the loan amount and payback time, confirm their income, complete KYC, and receive their funds by direct bank account transfer in minutes.

Navi

Navi, my favourite rapid lending app, makes things simple, transparent, and reasonable. Personal loans, mortgages, property loans, and health insurance are available without paperwork. downloading the app from Google Play or the App Store. After installing the app, you can get flexible EMIs and inexpensive financing rates starting at 9.9% P.A. Choose from 6 to 72 months and repay your loan without worry. The loan amount and interest rate depend on your eligibility, and you don’t need collateral or a guarantor. I enjoy this rapid lending app because it has no or low processing fees. After submitting PAN and Aadhar, one can borrow up to INR 20 lakh.

BuddyLoan

Buddy Loan is one of India’s most trusted personal loan apps. It is a basic online and Android app platform available 24/7. Users can also take advantage of cool deals like processing charge waivers. BuddyLoan lets you borrow INR 10,000–INR 15 lakh in minutes. Repayment options range from 6 months to 5 years, with interest rates starting at 11.99% P.A. Professionals, businesspeople, and salaried people can borrow from BuddyLoan. The net monthly income of employed people must surpass Rs. 18,000/-. Professionals and business owners must also show bank statements and income.

Kissht

Kissht, an Indian fast personal loan app, gives small companies QR-code-based finance to buy merchandise and expand. Their commitment to client economic freedom has helped them succeed in online purchase loans, personal loans, and their latest services. Using the Kissht app, small company owners can apply for rapid loans from INR 10,000 to INR 1,000,000 and an instant line of credit, according to their credit profile. The loan duration is 3–24 months with an APR of 14%–28%. Kissht makes online and offline merchant store purchases easy. Kissht makes it easy, smart, and stress-free. They expect employees to earn at least INR 15,000 per month and self-employed people to earn at least INR 1.2 lakh per year.

TrueBalance

True Balance offers mobile wallets based on RBI Master Directions on the Issuance of Prepaid Instruments. They develop an organisational culture of open communication, equitable advancement opportunities, and total transparency based on five core ideals. Over 75 million Americans use True Balance as the finest fast lending app. Personal loans are available from INR 5,000 to INR 50,000, with periods ranging from 62 to 116 days. The loan has a 5% monthly interest rate due to its short duration. Clients must be Indian and 21–50 years old to qualify for True Balance Loans. Loan applications require his PAN and Aadhar cards. A CIBIL score of 680+ and a monthly salary of INR 20,000/- are enough to acquire a bank loan.

LazyPay

PayU, which bought PaySense, powers LazyPay, an Indian immediate personal lending app. It processes online loan applications quickly and securely. With the LazyPay App, you can check your loan eligibility with your phone number. Their groundbreaking technology allows billions of clients and millions of businesses to trade online, making financial help in emerging areas more accessible. The “Credit Shield” function of LazyPay warns users about credit score changes. LazyPay is India’s leading fast credit app, offering loans between INR 10,000 and INR 1 lakh with instant approval and no collateral. Personal loan interest rates range from 15% to 32% each year, depending on credit score, income, and age.

KreditBee

KreditBee, an instant personal loan app for self-employed and salaried professionals, offers loans from INR 1,000 to INR 3 lakhs. The entire process happens in the app, so no physical verification is needed. Request permission and verification after submitting the required documentation. KreditBee allows applicants without credit cards or loan histories to apply for loans. Interest rates reach 29.95% P.A. They offer loans with different ticket sizes and payback terms to match client needs. These are common and can include medical emergencies, festival purchases, EMI payments, etc.

Bajaj Finserv

A leading Indian finance company, Bajaj Finserv, offers quick personal loans. The Pune-based corporation has operated in India for over ten years. They specialise in asset management, wealth management, and insurance, and their 0% EMI card can fund your pending Bajaj Finserv offers INR 25 lakh loans with rapid approval. After meeting simple eligibility requirements and completing a little documentation, you can have the money in 24 hours. It helps clients finance asset purchases and lifestyle improvements.

IDFC First Bank

Indian private bank IDFC First Bank On October 1, the bank began operations after receiving a universal banking licence from the Reserve Bank of India in July 2015. Personal loan rates start at 10.49% and rise to 25%. Their home loan interest rates are 7.95% to 8.40% with a 1% processing fee. Late payment penalties are 2% of the EMI, or INR 300. The highest loan amount is INR 40,00,000. Late payment penalties may apply from the date of default to the date of payment. This is the greatest rapid lending app for large personal expenses. If you follow the simple process, your loan may be approved in minutes.

ZestMoney

Lizzie Chapman, Priya Sharma, and Ashish Anantharaman founded ZestMoney in 2015, India’s largest and fastest-growing immediate personal loan app. ZestMoney offers personal loans to individuals with good payback practices through its lending partners. The loan period is 3–34 months with no prepayment costs. The minimum loan amount is INR 1,000, and the maximum is INR 10,000,000. ZestMoney aims to help over 300 million families without credit histories get credit cards and other formal financing. They want to improve India’s quality of life via technology. The World Economic Forum named ZestMoney a 2020 technology pioneer for their innovative technologies and efforts to make digital banking affordable.

Dhani Loans

A 100% subsidiary of Dhani Services Limited, Dhani Loans and Services Limited is a Reserve Bank of India-licenced non-deposit-taking NBFC. Dhani Loans led the retail loan market, and digitalization rocked the banking and financial systems, giving the business great potential. Quickly borrow up to INR 15 lakh at 12% APR. Download the Dhani loan app and submit your Adhaar card number and loan amount to get the money instantly. They aspire to improve people’s lives through expanding financial services, using technology, and trusting customers.

CASHe

CASHe, a fintech firm in India, offers fast, flexible, unsecured personal loans to salaried millennials via a smartphone app. V. Raman Kumar founded CASHe in 2016 to reintroduce millions of salaried millennials to formal credit. CASHE offers unsecured short-term personal loans from INR 1,000 to INR 400,000 for 3 to 18 months using advanced, intelligent digital tools. The loan period impacts the interest rate. The interest rate for 62 days is 3%, 2.75% for 90 days, 3% per month for 180 days, etc. Paying employees of reputed companies is required. Ages range from 23 to 58. You must live in India. After downloading the speedy lending app, you can quickly check your loan eligibility.

Fullerton India

Fullerton India Credit Co. Limited is an Indian non-banking financial company. Based in Mumbai, India, it funds urban and rural markets. The organisation has 628 branches in India, serving over 2.3 million customers. Fullerton India offers salaried and self-employed personal loans. Fullerton India requires employment and a fixed monthly wage of INR 15,000 for personal loans. Loans are available from INR 50,000 to INR 25 lakh. The minimum age to apply for a Fullerton personal loan is 21. No guarantor is needed, and the interest rate (reduced balance) is 11.99% to 25% yearly. Processing fees are 3%–6%.

Fibe

Fibe, one of the most advanced rapid personal loan apps, will change Indian loan acquisition. Cutting-edge internet banks use novel credit scoring methods to improve customer profiling. Flexible education loans can pay tuition immediately. Credit up to five times your annual earnings for medical expenses. Track and verify your credit score monthly for free. If you meet the requirements, the Fibe Personal Loan can lend you INR 50,000 to INR 5,000,000. Applications are completed online with minimal paperwork. With a 60-month payback term and easy repayment.

NIRA

Indian fast loan app NIRA offers small-ticket loans to low-income salaried people. They want everyone to have fast, affordable borrowing. For an online rapid personal loan from NIRA, you must be an Indian citizen between the ages of 21 and 65. To qualify, you need a college degree, six months of employment, and INR 20,000 per month. Apply online now for a 3-minute cash loan from INR 5,000 to INR 1 lakh. Thanks to NIRA’s fast and fair cash advance approval! Choose from three to twelve months. Interest rates range from 24% to 30%. Flat INR 500 processing cost. 3–12-month loans are available. Loan coverage is INR 5,000–INR 1,00,000.

Credy

Credy is a Bangalore-based full-stack consumer lending and fintech firm with offices in Chennai, Mumbai, Pune, and Hyderabad. It is one of India’s most customer-focused rapid personal loan apps. Their innovative technology-driven financial choices provide consumers with financial assistance, emergency bills, and education. It offers personal loans up to INR 1 lakh. They offer three-month to one-year loans. Credy customers can enjoy transparent rates starting at 1% per month. Customers have no hidden fees or charges, and they don’t have to put up property as collateral. The process is short because comprehensive conditions are supplied in three hours and loan cash is released in 48 hours.

MPokket

mPokket is one of India’s top loan apps for college students and young professionals. Google Play Store users can get the app. The money is deposited directly into their bank account. RBI-approved non-banking financial company The flexible repayment schedule lets borrowers repay the loan over three months with a minimal interest penalty. Processing and loan administration expenses range from INR 50 to INR 200 + 18% GST, depending on the loan amount. Loan amounts range from INR 500 to INR 30,000, with 0% to 4% monthly interest. The longest is 120 days. Users need not present collateral or printed verification. Just a few documents are needed to register, be authorised, and use the app to get an instant personal loan.

FlexSalary

Vivifi India Finance Private Limited, a Reserve Bank of India-registered NBFC, offers fast personal loans through FlexSalary. Technocrats and professional bankers with 75 years of experience in secured and unsecured retail lending launched Vivifi to service consumers across the credit range. The goal is to offer easy, easily accessible financial and lending services to all interested clients in a safe, efficient, and professional environment without prejudice or bias based solely on repayment ability. Loans are available from INR 4,000 to INR 2,000,000. The APR can reach 36%. The length is 10–36 months. No late fees bounced checks, or pre-payment penalties make fast borrowing easy.

PayMe India

PayMe India is transforming the loan market with fintech. The company was founded in 2016 to simplify financial aid with technology. The company works with RBI-registered NBFCs to give bourgeois or low-income salaried people advance salary loans. Their lending strategy uses one of the top instant personal loan apps to provide simple, quick, safe, and affordable personal loans. PayMe India provides hassle-free loans from INR 500 to INR 5 lakh. Meet the basic requirements to apply for an online personal loan. Meet the basic requirements to apply for an online personal loan. PayMe India offers quick personal loans up to INR 2 lakhs at 36% APR and no processing fee. Repayment terms are 0–2 months.

SmartCoin

SmartCoin is India’s greatest immediate loan app. They aim to develop India’s largest fully automated financial inclusion organisation by providing micro-loans to the massively underserved middle- and lower-income segments. The bank decides eligibility and limits. SmartCoin’s loan application is user-friendly. SmartCoin spends 10,000 on loans per month, ranging from INR 1,000 to INR 50,000, with durations ranging from 91 to 270 days. Your SmartCoin credit score automatically determines loan limits.

StashFin

Former banking professionals founded Stashfin, one of India’s finest loan apps. Quick loans give you the right cash boost in the easiest and most convenient way. The team has worked with Bank of America, Merrill Lynch, Citi, Deloitte, Kabbage, and others. The loan amounts range from INR 1,000 to INR 5,000,000, with 3- to 36-month repayment durations. They provide lending rates between 11.99% and 59.99% APR, depending on circumstances. Electronic transfers repay all loans in equal monthly payments (EMIs). Personal loan eligibility requires meeting certain requirements. These requirements include Indian citizenship, being 18 or older, a $18,000+ monthly income, NetBanking access, and a strong credit history.

LoanTap

LoanTap offers innovative financing to help young people achieve their dreams. Rapid personal loans with customised terms have made them the top rapid loan app. LoanTap offers the best personal loans between INR 50,000 and INR 10,000,000, with interest rates starting at 18% and terms ranging from 6 to 60 months. Loan rates range from 15% to 24% P.A. The company estimates a client’s interest rate based on income, loan amount, age, credit score, employment experience, payback duration, etc. To qualify for a personal loan, clients must be aged 23 to 58, salaried employees with a minimum monthly salary of INR 30,000 (Resident Indian Nationals only), have two years of work experience, and own or rent a home.

IndiaLends

With headquarters in Delhi-NCR, IndiaLends is one of the top loan apps in India. Former UK banker Gaurav Chopra founded it. Over 15 years of expertise in fintech, credit statistics, and digital money in India and abroa. Personal loan interest rates range from 10.75% to 25%, and processing costs are 1 to 4%. Loan amounts range from INR 15,000 to INR 50 lakhs, with terms of 12 to 60 months. Late or overdue fees are usually 2%–5% of the loan. Shows all accounts, financial history, and credit scores.

CashBean

Indian smartphone users seeking rapid personal loans would find CashBean one of the best apps. Day or night, CashBean can meet all your online financial needs. Accredited NBFC P.C. Financial Services Private Limited helped. CashBean loans range from INR 1,500 to INR 60,000. With a daily interest rate of 0.07% (25.55% annually), repayment takes three to six months. CashBean’s mobile app or website lets you apply for a loan and get money in minutes thanks to a computerised system. A regular income is needed for workers and independent contractors to get personal loans. CashBean’s personal loan requirements are these: The applicant must be 18–56 and have a Pan Card and address verification.

Home Credit

Home Credit allows impoverished individuals with little or no credit history to borrow fast and securely online and offline. Home Credit offers personal loans for new businesses up to INR 2.4 lakh. Interest begins at 2% per month. The highest loan amount is INR 5 lakh, and repeat customers can borrow for 9–51 months and new customers for 6–48 months. The processing fee is 5%. The applicant must be an Indian citizen between 18 and 65, have proper identification and residency, and work. Each home credit application should be 90 days apart. Credit up to INR 60,000 for a 26-month loan. 0%–40% down or advance payment.

Branch Personal Loan App

The branch personal loan app offers excellent financial services, making it one of India’s top quick personal loan applications. The branch has created an algorithm to assess clients’ cell phone creditworthiness using machine learning. Machine learning algorithms analyse hundreds of data points to produce highly personalised loan choices. Branch loans range from INR 750 to INR 50,000. Loan terms range from 9 to 36 weeks. Interest ranges from 3% to 25%, with 2.8% to 3.1% monthly interest and 35% to 36% APR, depending on the loan chosen. An active mobile number, PAN number, Aadhaar card or voter ID, and bank account number are all they need to qualify. They will also need your phone data to create your credit score.

RapidRupee

RapidRupee offers cash, salary advances, and personal loans. RapidRupee offers fast cash in 2 hours with no trouble. Their services have changed many lives. A team of tech-savvy, independent thinkers and problem-solvers works hard for customers. The RapidRupee app offers fast loans from INR 1,000 to INR 60,000, depending on your demands. The monthly interest rate for personal loans is 1%, or 12% yearly. They have simple eligibility requirements. Rapid Rupee loans are only available to people between the ages of 22 and 59 who earn at least INR 10,000 per month.

FAQs

What Are Instant Loan Apps? These apps are reliable?

Financial companies offer rapid loan apps on the Apple Play Store and Google Play Store to help borrowers. Download the application, fill it out, and the money is transferred promptly. The Reserve Bank of India regulates these app companies. Thus, only major players can launch apps on the Apple or Google Play Stores. Borrowers should not download the app elsewhere.

Which app offers instant loans?

Any rapid personal loan app can lend applicants money immediately once they follow its instructions.

How can we borrow money now?

If one is not bankrupt or has bad credit, one can download an app from the Google Play Store and apply for a loan quickly.

What app lends without salary slips?

To obtain a loan, applicants must provide proof of income, such as a copy of their Form 16 IT return.