10 Best Personal Loan Apps in India

Very often we need money urgently to meet some immediate expense or an emergency. Our savings or investments prove inadequate to meet these expenses and borrowing from relatives and friends becomes impossible.

Yes, we all have another option. And that’s applying for a loan from our bank. But anyone that has applied for a loan will testify that banks take an abysmally long time to process an application.

We might not have that much time. Instead, we need money right now.

In such cases, you can use personal loan apps that offer an instant loan. You can download any of these apps and apply for a loan through your mobile phone.

Their processes are rather fast. This means, you can get a loan approved within 48 hours only, if not less.

If you’re likely to face such a situation, I would recommend that you download any of these 10 best personal loan apps in India. They offer instant loans without much hassle.

And they require minimum documentation, no guarantors while providing attractive interest rates too.

Eligibility Criteria to Apply for a Personal Loan

Things you must know before applying for a personal loan 

  • You should be an Indian citizen.
  • You should have a minimum of 15,000 to a maximum of 30,000 income monthly.  
  • You must fit in given age eligibility criteria. 
  • You should be a salaried professional or a self-employed entrepreneur. 

Top 10 Instant Personal Loan Apps in India

These top instant personal loan apps in India provide a credit of up to Rs.500,000 to Rs.2.5 million. The amount of loan they provide depends upon a lot of factors including your income, liabilities, and tenure. 

Therefore, the next time you need money urgently, try any of these best 10 personal loan apps in India.

1. MoneyTap

moneytap - best instant personal app in india

MoneyTap ranks as the first best instant personal loan app in India. They offer instant loans of up to Rs.500,000. One of the main features of this app is that you’ll be charged interest only on the amount of money that you actually use.

For example, if you take Rs.500,000 as a loan and use only Rs.400,000 the interest will be payable on the lower amount only.

Interest Rate 1.08% p.m. or 36% p.a.
Loan Amount Rs. 3000 to Rs. 5,00,000
Loan Tenure2 months to 36 months
Types of loans Wedding Loan, Medical Loan, Travel Loan,  Home Renovation Loan, Mobile Loan, Laptop Loan, Consumer Durable Loan and Debt Consolidation Loan
Eligible age to apply 23 years to 53 years 

2. Dhani

dhani loan - Instant credit line loan

Dhani is a well-known instant personal loan app. Dhani offers loans of up to Rs.1.5 million. You have to pay an interest rate of 12 percent per annum or higher on this loan.

The amount of interest depends on a lot of factors such as the tenure of the loan and ability to repay.

All you need to do is download the app, upload your Aadhar card details and the requested amount to get Dhani to process the loan.

Interest Rate 13.99% p.a. onwards
Loan Amount Rs.1,000 to Rs. 15,00,000
Loan Tenure3 months to 2 years
Types of loans Two-wheeler loans, used cars loans, wedding loans, travel loans, medical loans
Eligible age to apply 21 years and above 
Website https://www.dhani.com/

3. KreditBee


KreditBee is one of the best instant personal loan apps in India. If you’re looking at loans of up to Rs.100,000 to launch a business or for any other purpose, KreditBee is the right app for you.

They approve a loan within 15 minutes only if you upload all the documents such as Aadhar card, PAN, and income proof through the app.

This is actually an app for fresh graduates and others that need some seed money to start a new life. They charge an interest starting at 12.5 percent per annum onwards.

You can consider this app for small loans.

Interest Rate 1.02% p.m. onwards 
Loan Amount Upto 2,00,000
Loan Tenure2 months to 15 months 
Types of loans Personal loan, personal-flexi loan, and online purchase loan.
Eligible age to apply 21 years to 45 years
Website https://www.kreditbee.in/

4. PaySense

paysense instant personal loan app

PaySense is a superb personal loan app in India. if you need to borrow up to Rs.500,000.

You can apply for the instant loan by uploading your Permanent Account Number (PAN), Aadhar card, and bank statements for the last six months indicating your income and its sources.

You can utilize the full amount or its fractions over a period of time. This helps you lower the interest rates to some extent.

Interest Rate 1.4% to 2.3% per month
Loan Amount Rs. 5,000 to Rs. 5,00,000
Loan Tenure3 months to 60 months
Types of loans Salaried loan, Self employed loan, vehicle loan,travel loan, medical loan, consumer loan, marriage loan. 
Eligible age to apply 21 years to 60 years


Nira - instant credit from this app.

NIRA app comes from an eponymous Financial Technology (FinTech) company. You can get loans in the form of instant credit from this app. The maximum credit they provide is Rs.100,000 and the minimum is Rs.5,000.

The amount of interest charged by NIRA depends on the amount of credit you use and repay. This is a fabulous app for small loans. They process applications within 48 hours.

Interest Rate 24.00 % to 27.00 % p.a 
Loan Amount Rs. 5,000 to Rs. 100. 000 
Loan Tenure3-12 months
Types of loans Personal instant loan, mobile EMI loan, Instant Cash Loan, Small loan
Eligible age to apply 21 years to 55 years 

Must Read:

6. CASHe

cashe top instant loan app in India

CASHe is a superb app for instant loans ranging between Rs.5,000 to Rs.200,000.

To get an instant loan from CASHe, you’ll have to upload all documents that indicate your income such as salary slips, bank statements, Income Tax returns, PAN and Aadhar details, and bank details.

They provide a loan of a maximum of six months tenure. This app is ideal for smaller instant loans.

Interest Rate 2.25% p.m. onwards
Loan Amount Upto Rs 4 lakh 
Loan Tenure90 to 540 days 
Types of loans Car loan, Rubber loan, Agricultural product loan, Business overdraft, Domestic factoring, Medium & long-term loan, Working capital loan, Loan mortgaged with valuable papers.
Eligible age to apply 23 years to 58 years

7. Capital First

capital first

Capital First Ltd is the same company that owns the First IDFC Bank. You can get an instant loan of up to Rs.2.5 million from their app.

The interest you pay varies according to different factors such as your tenure of the loan. The company offers loans for tenures ranging from one year to five years.

The interest rate differs according to factors such as loan tenure and repayment schedule. You can also seek a top-up loan from Capital First.

Interest Rate 10.49% onwards
Loan Amount 20,00 to 40,00,000
Loan Tenure60 months
Types of loans Consumer durable loan, Home loan, Vehicle loan, Car loan, Educational Loan, 
Eligible age to apply 23 years to 65 years

8. Bajaj Finserv

bajaj finserv

And finally, Bajaj Finserv, this Personal Loan App comes from one of the eponymous Non-Banking Financial Companies (NBFC) in India.

They provide loans mainly to women, educators, and persons working in state government departments and Central government offices.

They also provide loans to servicemen with the Indian Armed Forces. The maximum loan you can request is Rs.500,000 without any collateral, if you’re in any of the above categories.

Interest Rate 13% onwards 
Loan Amount 1,000 to 25,00,000
Loan TenureUpto 60 months
Types of loans Medical loan, Home innovation loan, Used car loans, Medical loan, Debt consolidation loan, Higher Education Loan, Small personal loan, Used car loan, Wedding loan.
Eligible age to apply 21 years to 67 years

9. PayMeIdnia


PayMeIdnia is a mobile-friendly app that provides you with quick financial aid. This is an innovative FinTech app.

It provides loans to salaried employees on short -term financial needs—it incudes medical emergencies, large items, wedding loans, and much more.

Easy logging, accurate assessment, swift approval, instant cash these are features of PayMeIndia. 

The company aims to provide the best and associable service to all people.  

Interest Rate 
Loan Amount Rs.7,000 to Rs.1,00,000
Loan Tenure10 days to 31 days
Types of loans Short-term loans,cooperate loans
Eligible age to apply 21 years to 58 years

10. HomeCredit 


HomeCredit is a digital portal that offers collateral-free instant personal loans.

Self-employed, salaried, and pensioners can apply for loans on Home Credit.

It is a part of the international Home Credit Group, which has spread over ten countries in Europe and Asia. 

It has been established in the Indian market since 2012 and is known for its accessible, secure, and transparent financial services. 

Interest Rate 2 % per month onwards
Loan Amount Upto 2.4 lakh
Loan TenureFor existing customers: 10,000 Rs to Rs. 2.4 lakh For new customers: Rs. 25,000 to Rs. 2 lakh 
Types of loans For existing customers: 9 to 51 months For new customers: 6 to 48 months
Eligible age to apply 19 years to 68 years

Special mention: 


CRED is the latest app that actually facilitates your credit card payments. In return, you get one CRED coin for every Re.1 you pay towards your credit card bills.

However, CRED also has a feature that offers you Rs.500,000 as an unsecured instant loan. This loan is approved within 48 hours if you have a credit score of 750 or higher.

And the interest rate varies according to the amount of loan you request.

CRED is a great option for personal loan if you are a regular user of Credit cards.

Things you must check before personal loan:

You must maintain good credit history:

The CIBIL score ranges from 300 -to 900. A score above 750 is considered a perfect score. 

Lower CIBIL may increase the risk of rejection of loan approval, as it shows low Debt management. More than 30% of credit utilisation.

Compare the interest rates.

You can check interest rates from BankBazaar, Paisabazzar, Myloancare institutions.

Check all additional costs. 

There might be extra costs while proceeding with the loan; thus, checking all costs will verify whether the loan is affordable. 

Analyze your income.

Calculate your income carefully to understand your ability to repay the loan. 

Don’t fall for offers.

There are attractive loan offers that are scams; thus, do through research. Cross verify their customer service reviews history before applying for the loan. 

In Conclusion

There are several personal loan apps in India that can be very helpful in your time of need. Whether you are looking for a quick and easy way to get a loan or want to compare interest rates and other features, there is an app for you.

These top 10 instant loan apps can also prove very handy when we require some extra cash for an important project or investment to expand a business.

Be sure to do your research and choose the one that is best for you.

Repayment terms are similar to those of major banks, meaning you need to service the loan every month by repaying the due EMIs.

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