There are very few options available when you are in urgent need of an instant personal loan. One route is to go through traditional banks and their long, time-consuming paperwork and process. Traditionally, banks are known to take a very long time to process personal loan applications, almost frustrating the immediate need to meet financial shortfalls. The other route is to take a credit card loan, but know that interest rates can be very high. You can also ask friends and family, leading to embarrassment or your personal equity being eroded. Also, let’s acknowledge that not everyone is so privileged to get a salary advance from their organisations and employers. This is how personal loan apps have emerged as absolute loan solutions to provide hassle-free and safe instant loans. The rise of the internet has led to the possibility of online shopping, where you can shop for anything from vegetables to high-end gadgets and jewellery from the comfort of your home. Similarly, the cutting-edge strides in FinTech have made it possible for multiple instant loan apps in India to meet the loan needs of thousands of Indians in a lot more convenient and easier way. The process of loan application is pretty seamless and easy, where a loan applicant can apply for an instant personal loan online, scan and upload the required documents for verification, and upon approval, the loan amount gets credited to the said loan applicant’s bank account. By now, you are familiar that an Instant Personal Loan is a type of personal loan that is approved and disbursed quickly. These are short-term loans with loan tenures of a few months to a few years. Instant personal loans have online application processes, quick approvals, and almost instant cash disbursals – giving you speedy access to money. This makes them ideal when you come up against unexpected expenses or an urgent need for cash.
The Best Instant Personal Loan Apps in India
| No. | Loan App | Interest Rate | Loan Amount | Repayment Period | Playstore Rating | App Store Rating |
|---|---|---|---|---|---|---|
| 1 | CASHe | 2.79% per month | Up to ₹3 Lakh | Up to 18 months | 4.4 | 4.3 |
| 2 | PaySense | 1.4% to 2.3% per month | Up to ₹5 Lakh | 3 to 60 months | 2.9 | Not available |
| 3 | Bajaj Finserv | 10% to 31% p.a | Up to ₹55 Lakh | Up to 96 months | 4.9 | 4.7 |
| 4 | Lazypay | 12% to 36% p.a | Up to ₹5 Lakh | Up to 24 months | 4.4 | 4.8 |
| 5 | IDFC First Bank | 9.99% p.a | Up to ₹10 Lakh | 9 to 60 months | 4.9 | 4.8 |
| 6 | Zest Money | 14% p.a onwards | Up to ₹5 Lakh | 3 to 36 months | 4.4 | 3.3 |
| 7 | Dhani | 13.99% p.a onwards | Up to ₹15 Lakh | 3 to 24 months | 3.3 | 4.1 |
| 10 | Nira | 2% per month onwards | Up to ₹1.5 Lakh | 3 to 24 months | 4.3 | Not available |
| 11 | mPokket | 24% to 39% p.a | Up to ₹50,000 | 6 to 12 months | 4.6 | Not available |
| 12 | MoneyTap | 12% to 36% | ₹3,000 to ₹5 Lakh | 3 to 36 months | 4.2 | 3.9 |
| 13 | FlexSalary | 18% to 36.50% p.a | Up to ₹3 Lakh | Up to 36 months | 4.5 | 4.3 |
| 14 | MoneyView | 14% p.a onwards | Up to ₹10 Lakh | 3 to 6 months | 4.8 | 4.9 |
| 15 | PayMe India | 1.50% per month onwards | Up to ₹10 Lakh | 3 to 24 months | 3.4 | 2.5 |
| 16 | SmartCoin (Olyv) | 1.5% per month | Up to ₹5 Lakh | Up to 18 months | 4.6 | Not available |
| 17 | StashFin | 21% to 45% p.ak | Up to ₹5 Lakh | 12 to 36 months | 4.2 | 4.2 |
| 18 | LoanTap | Up to 29% p.a | Up to ₹10 Lakh | 6 to 60 months | 3.0 | 4.1 |
| 19 | IndiaLends | 10.25% p.a onwards | Up to ₹25 Lakh | 1 to 5 years | 3.9 | 4.5 |
| 20 | Fibe | 18% p.a onwards | Up to ₹5 Lakh | 6 to 36 months | 4.5 | 4.5 |
| 21 | Navi | Up to 26% p.a | Up to ₹20 Lakh | Up to 84 months | 4.3 | 4.4 |
| 22 | True Balance | 2.40% per month onwards | Up to ₹2 Lakh | 6 to 12 months | 4.4 | Not available |
| 23 | Buddy Loan | 11.99% p.a onwards | Up to ₹15 Lakh | 6 months to 5 years | 4.5 | 4.8 |
| 24 | Kissht | 14% p.a onwards | Up to ₹5 Lakh | Up to 60 months | 4.2 | 4.0 |
| 25 | Finnable | 16% to 35.99% p.a | ₹25,000 to ₹10 Lakh | 6 months to 60 months | 4.3 | 4.1 |
Many personal loan apps offer Instant Loans with enticing features, and it can be hard to decide on one. To make it easier for you to compare and choose, we have looked at dozens of loan apps to bring to you our top picks ranked on their monthly interest rate, minimum and maximum loan amount, loan tenure, and app rating on Google Play Store. Go ahead and take your pick of the best instant personal loan app in India for all your urgent and immediate financial loan needs. While at it, let’s learn a little bit about every loan app in brief.
1. CASHe
Founded by V. Raman Kumar, CASHe is a fintech company and app-based digital lending platform that provides short-term loans and instant personal loans varying from ₹45,000 to ₹3 lakh, but only to salaried folks. All you need to do is download the CASHe loan app from the Google Play Store on your smartphone and enter your details, and upload all necessary documents such as salary slips, bank statements, address proof, and PAN card. You can also check loan eligibility and interest rates online, using a quick calculator. Once approved, the loan amount up to ₹3 lakh, with tenures ranging from 9 months to 18 months, will be credited to your account in a matter of minutes, a part of which you can also transfer directly to your Paytm wallet. Loan Repayments can be made through a bank transfer or cheque deposit every month.
Founded in: 2016
Minimum Loan Amount: ₹40,000
Maximum Loan Amount: ₹3,00,000
Download CASHe today.
2. PaySense
Founded by Sayali Karanjkar and Prashanth Ranganathan, PaySense is a Mumbai-based financial startup now acquired by PayU. It is partnering with various NBFCs and Banks registered with the RBI, like Credit Saison India, Fullerton, Northern Arc, IIFL, PayUFinance, and IDFC First Bank for the disbursal of loans. It has raised a total of $25.6M over three rounds of funding. PaySense is one of the best instant personal loan apps with both an app and a website. It offers a variety of instant loans and online personal loans to salaried individuals with a monthly income of ₹18,000 or self-employed individuals earning ₹20,000 per month. Loan amounts can range from ₹5000 to ₹5 lakh, which can be repaid in 3 months to 5 years. All processes are online, which means you can get a loan approved online. To start with, you can download the app from the Play Store. You can check loan eligibility on the app or their website, enter your details and submit your KYC documents online. The approval can happen within 5 hours. The instant loan app also offers an EMI calculator through which you can check how much you will be paying every month, making for a great user experience. PaySense charges a processing fee of 3% of the loan amount and late fees of ₹500. They have a monthly interest rate of 1.4% to 2.3% which comes out to an annual interest rate of 16% to 36% (APR) on a reducing balance basis. The USP is that you are not required to submit any collateral nor need to possess a high credit score.
Founded in: 2015
Minimum Loan Amount: ₹5,000
Maximum Loan Amount: ₹5,00,000
3. Bajaj Finserv
Finserv is one of the long-standing and prominent personal financing brands with services all across India. It has been around for more than a decade with a range of offerings, especially collateral-free instant personal loans of up to ₹55 lakh and zero-interest EMI credit cards to finance your expenses. Their interest rates range between 10% and 31% per annum. It is one of the best loan apps in India where loans are instantly approved and disbursed in less than 24 hours 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 installment 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.
Founded in: 2007
Minimum Loan Amount: ₹40,000
Maximum Loan Amount: ₹55,00,000
4. LazyPay
LazyPay is powered by PayU, the same company that acquired PayU. It is one of the best instant loan apps offering online Pre-Approved CASHe Limit, with quick approvals and safe online processes and disbursing 1 million+ loans every month. All you need to do is download the LazyPay app and enter your mobile number to find out your personal loan eligibility. Its key offerings include affordable pocket-friendly EMIs and an instant personal loan of up to ₹5 Lakh through an easy digital process with minimal documentation.
Founded in: 2015
Minimum Loan Amount: ₹3,000
Maximum Loan Amount: ₹5,00,000
5. IDFC First Bank
Those looking for significantly large personal loan amounts for a big purchase, say a car or a two-wheeler, can download the IDFC First loan app and register. The loan application process is pretty simple, and you can get the loan amount approved in minutes. The repayment tenure is also pretty flexible, and you can do so in easy EMIs within 9 months to 60 months. Additional customer benefits include access to loan account details, statement details, outstanding balance, payment dates, and also, and the ability to raise service requests.
Founded in: 2018
Minimum Loan Amount: N/A
Maximum Loan Amount: ₹10,00,000
6. ZestMoney
Founded by Lizzie Chapman, Priya Sharma, and Ashish Anantharaman, ZestMoney is a unique finance platform that is largely a Buy Now, Pay Later (BNPL) app that also offers instant personal loan products. Their loans do not require you to have a credit score, and that makes digital finance affordable and accessible to millions of Indians with inadequate credit histories. 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. Loan interest rate starts at 14% p.a onwards, and the amounts go up to ₹10 lakh, which can be repaid between 3 months to 3 years. If you pay back digitally, you stand to earn a cashback of 100% on your EMIs. The loan application process takes a matter of minutes.
Founded in: 2015
Minimum Loan Amount: ₹1000
Maximum Loan Amount: ₹10,00,000
7. Dhani
Dhani is one of the top online personal loan apps, which is popularly marketed as a mobile loan app. It lets you apply for an unsecured personal loan anytime, anywhere, and requires no physical documentation. It is completely an online process with no collateral. Instant loan amounts start from ₹1000 and go up to ₹15 lakh. Loans can be paid back over a loan tenure of 3 months to 24 months. Their late payment fee is 3% of the monthly EMI amount. All you have to do is download the app, provide your PAN and Aadhaar details and address for verification. Once your loan request is approved, Dhani will instantly disburse the loan amount to your bank account. It is also an online marketplace selling groceries, household items, apparel, healthcare, and stationery, among other consumer goods. This top loan app is backed by Indiabulls Ventures, which was previously known as Indiabulls Consumer Finance Limited. Dhani also offers an instant Pre-Approved CASHe Limit in the form of the Dhani OneFreedom Card. This is a RuPay-powered card with a credit limit of up to 5 lakh.
Founded in: 2000 (Indiabulls); 2017 (launch of the app)
Minimum Loan Amount: ₹1,000
Maximum Loan Amount: ₹15,00,000
8. Home Credit
As one of the oldest money loan apps in India, Home Credit India is a part of the international Home Credit Group with a presence across ten countries in Europe and Asia. The India chapter started in 2012 with operations in over 60 cities across 15 states. The personal loan app is very easy to use with its simple and transparent features and easy accessibility. It provides your required loan amount for any financial emergencies. It sanctions personal loan amounts of up to ₹4.8 Lakh with a flexible and easy repayment tenure ranging from 9 months to 5 years.
Founded in: 2011
Minimum Loan Amount: ₹10,000
Maximum Loan Amount: ₹4,80,000
9. KreditBee
KreditBee is yet another instant personal loan app that is quite popular among young professionals. Here, you can get an instant personal loan amount from as little as ₹1000 up to ₹10 lakh. The loan process takes place fully online, and no physical verification is required. Any Indian who is above 18 years of age and earning at least ₹10,000/- every month is eligible for the loan. He/she can download this cash loan app and upload the required details and documents. Upon verification and approval of the loan application, the disbursement happens in less than 15 minutes, with the amount directly being credited to the loan applicant’s bank account.
Founded in: 2015
Minimum Loan Amount: ₹1,000
Maximum Loan Amount: ₹10,00,000
10. Fibe (Previously called EarlySalary)
It so happens that many of us run out of money in the middle of the month, and we do get worried about meeting the expenses for the remainder of the month. The Pune-based fintech start-up, Fibe, is one such app that helps you cover until the next payday. This loan app is pretty popular with the young brigade as it offers easy loans of amounts up to ₹5,00,000 for all your needs. Fibe, as EarlySalary, raised ₹100 crores in series B funding led by Eight Roads Ventures and IDG Ventures India.
Founded in: 2015
Minimum Loan Amount: ₹3,000
Maximum Loan Amount: ₹5,00,000
11. NIRA
NIRA is a FinTech company that offers a line of credit of up to ₹1.5 Lakh to salaried professionals in India, should you match the eligibility criteria. You can download this money lending app in India and check if you are eligible to take out a personal loan in less than 3 minutes. You can repay the loan in easy instalments in 3 to 24 months. The unique part is that you do not need a high credit score to apply. For urgent cash needs, NIRA is a very good option where you can withdraw a minimum of ₹5,000 or more each time. The interest applied to the loan amount depends on how much you borrow and when you repay the borrowed amount.
Founded in: 2018
Minimum Loan Amount: ₹5,000
Maximum Loan Amount: ₹1,50,000
12. mPokket
Not all college students hold a part-time job to meet their financial needs, and most live on pocket money from their parents and family. Pocket is a dedicated instant loan app in India for college students. It works on the concept of pocket money for students, so they need not resort to borrowing from friends when they run out of money. Once your personal loan application is approved, the personal loan amount is sent to your bank account or your Paytm wallet. The initial amount that can be approved is ₹500, and the borrowing limits will increase over time with good usage. The loan amount can be repaid within 6 to 12 months.
Founded in: 2016
Minimum Loan Amount: ₹500
Maximum Loan Amount: ₹50,000
13. MoneyTap
As India’s first app-based Pre-Approved CASHe Limit, MoneyTap’s best USP is its “no-usage-no-interest” feature, which makes taking credit all the more affordable. This means a loan applicant pays interest only on the amount used. MoneyTap is essentially a money-lending company with flexible interest rates. You need to download this personal loan app, register your name and details and upload all necessary documents. You must fulfil the eligibility criteria of earning a minimum of ₹30,000 a month to qualify for a loan. Once your loan application is approved, MoneyTap gives you a line of credit, which can either work as an instant loan or a credit card. MoneyTap has partnered with the leading NBFCs in the country and currently serves customers in Bangalore, Chennai, Delhi NCR, Mumbai, Hyderabad, and 30 other cities in India.
Founded in: 2015
Minimum Loan Amount: ₹3,000
Maximum Loan Amount: ₹5,00,000
14. FlexSalary
Hyderabad-based online loan lending platform, FlexSalary, is a popular instant loan app in India, specially designed for salaried folks who need instant cash during a financial emergency, with very unique features like one-time application and one-time approval, instant disbursement and the option for borrowers to access that credit at any point of time. With instant approval and no fixed EMIs, loans from FlexSalary almost function like an advanced salary app, where borrowers also get the option to decide the loan tenure and a flexible repayment policy. All you need to do is download the app and register on the app, upload the required KYC documents, and the loan amount will be transferred to your bank account upon approval.
Founded in: 2016
Minimum Loan Amount: ₹4,000
Maximum Loan Amount: ₹3,00,000
15. MoneyView
Should you require cash for an emergency or any upcoming expense, say wedding expenses, home renovations, or a one-time purchase, the Money View app is probably the best app for an instant personal loan in India, where you can get a personal loan in just 2 hours. The app is great in terms of processes – paperless, fast, easy, and flexible. You can download the app, register your details and upload the required documents for verification and approval. Money View lets you borrow amounts starting from ₹5,000 up to ₹10 lakh, and with its flexible terms, it lets you repay in comfortable EMIs within 3 months to 3 years. The MoneyView app has been seeing great app downloads and presence in several Indian cities.
Founded in: 2014
Minimum Loan Amount: ₹10,000
Maximum Loan Amount: ₹5,00,000
16. PayMeIndia
Noida-based fintech company, PayMeIndia, offers short-term loans to salaried professionals in need of immediate cash in the form of instant payday loans, advance salary loans, and marriage loans at attractive interest rates. These instant loans are designed to cater to all short-term financial needs that might include a medical emergency, a big-ticket purchase, and many more. All the loan processes happen through the app where traditional and modern lending techniques are blended with technology to make the loan application process quick and simple. The PayMEIndia loans come with convenient and flexible repayment plans, and they have a strong, helpful, and responsive customer support team for first-time new borrowers. PayMeIndia has already raised $2 million from Singapore-based investors.
Founded in: 2016
Minimum Loan Amount: ₹7,000
Maximum Loan Amount: ₹10,00,000
17. SmartCoin (Olyv)
Those looking for short-term personal loans, or some quick instant loans or instant personal loans in the event of an emergency, can look up SmartCoin. This FinTech company has a dedicated mission to offer loans to all profiles, whether salaried professionals, support executives, business owners, managers, stay-at-home moms, teachers, and more, with no minimum limit on the salaries, unlike other personal loan apps. The app is very user-friendly and a hassle-free, scalable lending platform. All the documentation can be done online, and if you meet the eligibility criteria, your loan application is typically approved promptly within minutes. You can apply for a loan of up to ₹5,00,000. While there is no minimum limit on the salary you earn in SmartCoin and hence, anybody can apply for an instant loan.
Founded in: 2015
Minimum Loan Amount: ₹1,000
Maximum Loan Amount: ₹5,00,000
18. StashFin
Founded by a smart team of experienced financial services professionals with an aim to make digital lending easier for people in India, StashFin is one of the best digital lending online loan apps in India. StashFin aims to deliver best-in-class services and superior convenience to its customers. The StashFin team comes with a collective experience across various verticals and industries that include customer experience, technology, and process re-engineering. For their loan offers from ₹1,000 to ₹5,00,000, all you need to do is download the StashFin app and apply for an instant loan of your desired amount. Once your request is approved, the amount will be transferred in almost no time. The repayment tenure is from 12 months to 36 months, and you can do so electronically. There are no hidden charges on loans from StashFin.
Founded in: 2016
Minimum Loan Amount: ₹1,000
Maximum Loan Amount: ₹5,00,000
Also Read: Top 20 Loan Companies in India19. LoanTap
LoanTap is one of the most popular online loan apps in the Indian Fintech Industry that delivers instant flexible loans on attractive loan terms to salaried professionals and businessmen. This fintech lending platform, with the tagline “Bringing Dreams to Life,” is committed to delivering customised loan products to its borrowers. LoanTap has various innovative products such as flexible personal loans, lower instalment loans, personal overdrafts, EMI-free loans, credit card takeover loans, rental security deposit loans, advance salary loans, and house owner loans. The loan application process is fairly simple and requires minimal documentation. The repayment options are flexible and many – accelerated payment options, bullet repayment to principal outstanding.
Founded in: 2015
Minimum Loan Amount: ₹50,000
Maximum Loan Amount: ₹10,00,000
20. IndiaLends
IndiaLends is another popular Indian cash loan app for all instant personal loans and credit cards. You can also check your credit score for free on the app by submitting your PAN details, which in turn helps you select your instant loan. It offers instant online cash loans with very low-interest rates and prompt disbursals within 48 hours. This instant loan app makes use of data and technology extensively to enhance workflows and risk assessments so that the entire loan disbursal process is seamless, efficient, quicker, and easier.
Founded in: 2016
Minimum Loan Amount: ₹10,000
Maximum Loan Amount: ₹25,00,000
21. Navi
Looking for an easy way to get a personal loan? Navi is a popular personal loan app known for its quick loan disbursal process and minimal documentation requirements. It offers competitive interest rates and flexible repayment options, making it convenient for users to borrow money for various needs.
Founded in: 2018
Minimum Loan Amount: ₹10,000
Maximum Loan Amount: ₹20,00,000
22. True Balance
True Balance is not just a balance-checking app anymore; it also offers instant personal loans to users. It is known for its user-friendly interface and quick approval process. True Balance provides loans with flexible repayment terms and competitive interest rates so that you can meet your financial needs.
Founded in: 2014
Minimum Loan Amount: ₹5,000
Maximum Loan Amount: ₹2,00,000
23. Buddy Loan
Another popular personal loan app, Buddy Loan, is a peer-to-peer lending platform that connects borrowers with lenders. It offers personal loans with varying interest rates and repayment terms based on the borrower’s profile and creditworthiness. Buddy Loan focuses on transparency and provides a hassle-free borrowing experience through its mobile app.
Founded in: 2019
Minimum Loan Amount: ₹10,000
Maximum Loan Amount: ₹15,00,000
24. Kissht
Kissht is another popular online personal loan app and is known for offering instant personal loans with minimal documentation. It caters to salaried individuals looking for quick financial assistance as well as entrepreneurs to meet their business loan demands. If you are looking for a convenient choice for short-term financial needs, then this is the personal loan app for you.
Founded in: 2015
Minimum Loan Amount: ₹5,000
Maximum Loan Amount: ₹5,00,000
25. Finnable
Finnable is a trusted personal loan app for salaried professionals and is perfect for those who are looking for instant funds. The online loan app focuses on providing quick access to funds with zero paperwork, minimal documentation and hassle-free processing. Take the assessments and let the app determine your eligibility to offer you competitive interest rates and good terms.
Founded in: 2015
Minimum Loan Amount: ₹25,000
Maximum Loan Amount: ₹10,00,000
