Instant Personal Loan Apps

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Personal Loan Apps

There are many instant Personal Loan apps in India, such as MoneyTap, KreditBee, mPokket, StashFin, and so on. You can get up to Rs. 20 lakhs under these loans apps with tenure up to 60 months and check interest rates below. You can straight away apply for personal loan through your mobile or laptop and get access to the required funds.

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Updated: 29-05-2024 02:00:35 PM

Best Loan Apps

If you do not have a credit history or adequate credit score, alternative borrowing options like instant loan apps can come to your rescue. These apps evaluate your loan eligibility on the basis of your social credibility score and not only on your past credit history or CIBIL Score.

These loan apps require quick sign-up or registration by the customers after which it shares available credit facility for the customer basis the details shared. The request is approved and sanctioned immediately as you complete KYC and share consent for terms & services. The process is 100% digital and contactless. It can be as fast as 5 minutes to a maximum of 2 days.

Nowadays, there are plenty of online personal loan apps, including MoneyTap, Indiabulls Dhani, KreditBee, CASHe, mPokket, PaySense, EarlySalary and so on. It is advisable to learn about the features, charges, and terms & conditions of all the available options before choosing the most suitable one.

Top 25 Instant Loan Apps in India 2024

Following are 25 of the best personal loan apps available in India right now:

Name Max Loan Amount Starting Interest Rate
Tata Capital Rs. 35 Lakhs 10.99% p.a.
PaySense Rs. 5 Lakhs 1.25% p.m.
MoneyTap Rs. 5 Lakhs 1.25% p.m.(pay ONLY on used)
KreditBee Rs. 5 Lakhs 16% p.a.
MoneyView Rs. 10 Lakhs 1.33% p.m.
CASHe Rs. 4 Lakhs 2.50% p.m.
StashFin Rs. 5 Lakhs 11.99% p.a.
Fibe (EarlySalary) Rs. 5 Lakhs 16% p.a.
mPokket Rs. 45.000 48% p.a.
Bajaj Finserv Rs. 40 Lakhs 11% p.a.
Indiabulls Dhani Rs. 15 Lakhs 11% p.a.
Home Credit Rs. 5 Lakhs 1.6% p.m.
LazyPay Rs. 5 Lakhs 15% p.a
PayMe India Rs. 5 Lakhs 1.5% p.m.
Credy Rs.1 Lakh 1% p.m.
LoanTap Rs. 10 Lakhs 11% p.a.
CashBean Rs.1 Lakh 25.55% p.a.
NIRA Rs. 1 Lakh 2% p.m.
Navi Rs. 20 Lakhs 9.9% p.a.
ZestMoney Rs. 2 Lakhs 14% p.a.
Privo Rs. 5 Lakhs 1.08% p.m.
Olyv (SmartCoin) Rs. 5 Lakhs 1.5% p.m.
Buddy Loan Rs 15 Lakhs 11.99% p.a.

Features of Best Instant Personal Loan Apps

The key features of instant loans offered by the apps mentioned above are explained below:

Tata Capital 

  • Affordable interest rates starting at just 10.99% p.a.
  • Loan amount starting from Rs. 40,000 to Rs. 35 Lakhs.
  • Flexible tenure up to 7 years.
  • Processing fee ranging from 1% to 3.5% of the loan amount + GST.


  • Instant personal loans from Rs. 5,000 to Rs. 5 Lakhs to fit all your needs.
  • Flexible EMI and tenure options from 3 to 60 months.
  • Processing fee is 3% of the loan amount.
  • Interest rate starting at 1.25% p.m.
  • Prepaymentis allowed after 6 EMI payments with foreclosure charge of 4% + GST on the remaining principal amount.
  • Get prompt loan approval and money in your account.


  • Get approved for Rs. 3,000 to Rs. 5 Lakhs personal loan instantly.
  • Use any amount from your limit.
  • Interest rates is 1.25% p.m. (pay ONLY on used).
  • Interest payable only on the exact loan amount used from the approved credit line.
  • EMI tenure ranges from 3 to 36 months.
  • Low processing fee ranges from 0% to 7% of the loan amount.
  • One-time line setup fee of Rs. 199 to Rs. 999 is levied.
  • Flexible EMIs of 3 to 36 months.
  • Repay and use the limit again.


  • Online personal loans from Rs. 3,000 to Rs. 5 Lakhs.
  • Interest rates range from 16% to 29.95% p.a.
  • Tenure varies between 3 to 24 months.
  • Low transaction fees.
  • 100% online process with 10 minutes disbursal time.


  • Get instant loans online from Rs. 5,000 to Rs. 10 Lakhs.
  • Open a pro saver account with a 9% p.a. interest rate and check your credit score reports for free in minutes.
  • Interest rate starting at 1.33% p.m.
  • Flexible EMI repayment plans starting from 3 months to 5 years..
  • Processing fee of 2% to 8% of the loan amount.
  • 100% paperless application process with no hidden charges.


  • Quick personal loans ranging from Rs. 1,000 -to Rs. 4 Lakhs.
  • Interest rate starting at 2.50% p.m.
  • Repayment tenure of 3 to 18 months.
  • Processing fee ranges from 1.5% to 3% of the loan amount.
  • No guarantor/collateral required.
  • 100% paperless instant loan application.
  • Zero foreclosure charges.
  • Enjoy online shopping at no cost EMI.
  • Instant disbursal of the instant loan amount to your bank account.


  • Credit line ranging from Rs. 1,000 to Rs. 5 Lakhs straight to your bank account.
  • Interest rates ranging from 11.99% to 59.99% APR.
  • Pay interest only on the funds you utilise.
  • Flexible payment terms with convenient EMIs.
  • Tenure ranging from 3 to 36 months.
  • Minimum documentation, instant approval, and quick disbursal.
  • Transparent pricing with no hidden fees.
  • No joining fees involved.

EarlySalary (now Fibe)

  • Instant loan from Rs. 5,000 to Rs. 5 Lakhs.
  • Interest rate starting at 16% p.a. on reducing balance method.
  • Processing fee starts from just 2% of the loan amount plus applicable GST.
  • APR starting from 18%.
  • Tenure ranges between 3 to 36 months.
  • Zero pre-closure charges.
  • Loan disbursed online in just 5 minutes in easy steps.


  • Instant personal loan up to Rs. 30,000.
  • Cash transfer to Bank/Paytm Account in 2 minutes.
  • Flexible repayment in 4 months.
  • Get rewarded for timely repayments.
  • Processing & loan management fees range between Rs. 50 to Rs. 200 + 18% GST depending on the loan quantum.
  • Interest rates range between 0% to 4% per month.

Bajaj Finserv 

  • Instant loan up to Rs. 40 Lakhs.
  • Tenur up to 96 months.
  • Interest rates range between 11% to 38% p.a.
  • Processing fee up to 3.93% of the sanctioned loan amount.
  • Zero hidden charges.

Indiabulls Dhani

  • Loan from Rs. 1,000 to Rs. 15 Lakhs.
  • Tenure ranging from 3 to 24 months.
  • Interest rates starting at 11% p.a.
  • Completely online process.
  • Money transferred in your bank instantly.

Home Credit

  • Loan amount ranges from Rs. 10,000 to Rs. 5 Lakhs.
  • Interest rate starting at 1.6% p.m.
  • Repayment period varies between 6 to 48 months.
  • Processing fees from 2.5% to 5% of the loan amount approved.
  • Convenience fees of Rs. 0 to Rs. 250 will be applicable.


  • XpressCash loans range from Rs. 3,000 to Rs. 5 Lakhs.
  • The entire process is 100% digital and paperless.
  • Personal loan interest rate ranges from 15% to 36% p.a. on a reducing balance basis.
  • Tenures range from 3 to 60 months.

PayMe India

  • Personal loan amount ranging from Rs. 500 to Rs. 5 Lakhs.
  • Rate of interest starting from 1.5% p.m.
  • Tenure 3 to 24 months.
  • Processing fee of 2% to 10% will be levied on the sanctioned loan amount.


  • Personal loan up to Rs. 1 Lakh.
  • Loan tenure of 3 to 12 months.
  • Interest rate ranges from 1% to 1.5% of loan amount per month.
  • Credy charges a processing fee of 3%, with a minimum of Rs. 500.
  • Early repayment fee is 2% of outstanding loan amount.
  • Late fee of 2% of EMI amount per week.
  • Get instant loan approval and receive money within 24 hours.


  • LoanTap offers personal loans for amounts of Rs. 25,000 to Rs. 10 Lakhs.
  • Tenures range from 3 months to 5 years.
  • A processing fee of only 2% plus taxes will be charged.
  • Interest rates range from 11% to 30% p.a., based on the type of loan, customer profile and other factors.


  • CashBean offers instant online personal loans up to Rs. 60,000.
  • The interest rate starts from 0.07% per day (25.55% p.a.).
  • A processing fee of Rs. 90 to Rs 2,000 + GST will be charged.
  • The repayment tenure ranges from 3 to 6 months.
  • You can apply for the loan through CashBean’s official website or mobile app.
  • Get money within minutes through a digitized process.


  • Loan amount of Rs. 5,000 to Rs. 1,00,000 is available.
  • Minimum APR is 24% and maximum APR is 36% (reducing balance).
  • Minimum repayment period is 91 days and maximum up to 24 months.
  • Processing fees range from Rs. 350 + GST up to 2% to 7% of loan amount + GST.
  • Prepayment fee is zero if paid within 7 days of disbursal and 4% of prepayment amount thereafter.
  • In case overdue exceeds 30 days, you will be charged a ate fee of Rs. 500 to Rs. 1,000.


  • Loan amount up to Rs. 20 Lakhs.
  • Interest rate starting from 9.9% to 45% p.a.
  • Loan tenure ranges from 3 to 60 months.
  • 100% digital process with instant money transfer to your bank account.
  • No security deposit required.


  • Instant approval for loan amount up to Rs. 5 Lakhs.
  • Tenure of 3 to 36 months.
  • Interest rates starting at 14% p.a.
  • No extra documents required.
  • You can close your EMI without having to pay any additional fees.


  • Borrow instant personal loan up to Rs. 5 Lakhs.
  • Interest rate starts at only 1.08% p.m.
  • Tenure raes from 3 to 60 months.
  • If you do not repay the entire due amount by the due date, an additional interest rate of 42% to 45% will be charged on the total amount.
  • No preclosure fee or hidden costs involved.

Olyv (SmartCoin)

  • Instant personal loans up to Rs. 5 Lakhs.
  • Minimum period for repayment is 2 months and maximum is 24 months.
  • Interest starting at 1.5% per month.
  • 100% digital loan application journey
  • No collateral or paperwork required.
  • Flexi EMIs.
  • APR ranges from 30% to 90%.

Buddy Loan

  • Get instant personal loans starting from Rs. 10,000 to Rs. 15 Lakhs in just a few minutes.
  • Interest rate starts at 11.99% p.a.
  • The maximum APR can go up to 36%.
  • Repayment tenure is 6 months to 5 years.
  • A processing fee of 2% + GST will be levied.

Instant Loans Apps Documents Required

One of the best aspects of Personal Loans from app based lenders is minimal or no documentation for existing customers. The basic documentation for KYC is all you need to apply for Personal Loan through a website or smartphone. Furthermore to service maximum customers, most of these loan apps allow customers to borrow with no or minimum credit score. However they evaluate the credit scoring based on the customer’s social profile and other personal factors.

Here is the list of documents for Instant Loans through app:

  • Fulfill KYC
  • Provide PAN & Aadhaar
  • Photograph (Clicked during v-KYC)
  • Bank account details & statements
  • Income proof/ salary slips

Personal Loan Eligibility Criteria for Online Loan App

The eligibility parameters may vary from lender to lender. Following are some common eligibility criteria to be met:

  • Must be salaried or self-employed, depending on the target audience of the loan provider. The borrower can also be a student if the loan is to be applied through a student loan app.
  • Must be aged above 21 years and below 60 years.
  • Must be Indian resident.
  • The minimum net monthly income required to avail of the loan is Rs. 15,000.

How to Apply for a Personal Loan through App?

  • Download the app of the lender on your iOS or Android mobile phone.
  • Register with a social media account and/or some basic details as required, such as your name, mobile number, email id, income, bank account details, and so on.
  • Upload and share some basic documents, like your PAN Card, Adhaar Card, Job Proof, Income Proof (salary slips, bank statements, etc.), and so on.
  • Lender will verify the details submitted by you.
  • Get instant approval on meeting the eligibility conditions of the lender.
  • On getting approval, enter the loan amount you require based on your eligibility.
  • Get the money transferred to your bank account or wallet within a few minutes.
  • Repay the borrowed amount via bank transfer in EMIs.

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Instant Personal Loan App FAQs

You can avail of instant Personal Loan as a preapproved bank offer. To get loan instantly, login with your customer ID on the lender’s app and apply for loan. Alternatively, you can also apply for Small Personal Loans through lending apps such as MoneyTap, MoneyView, MobiKwik, KreditBee etc. These are 100% paperless, processed digital and ensure fast access to cash for all types of financial requirements or emergencies. The best part is many of these apps, offer you instant credit line where in you can access part of amount and thus minimise the repayment burden. In most cases, there is no prepayment charge and these apps offer highly customised offers as compared to bank loans.

Instant Loan Apps evaluate your loan eligibility on the basis of your social creditability score. They do not base loan eligibility only on your past credit history or CIBIL Score. These apps require quick sign-up or registration by the customers after which it shares available credit facility for the customer basis the details shared. The request is approved and sanctioned immediately as you complete KYC and share consent for terms & services. The process is 100% digital and contactless. It can be as fast as 5 minutes to max of 2 days.

MyMoneyMantra has listed best 25 Instant Personal Loan Apps in India. The most popular ones are Cashe, MoneyTap, and MoneyView. Early Salary is the payday loan app. Thus based on your requirement you should choose the best app for your needs.

For fastest access to cash in your account, you can use Personal Loan apps like Cashe, MoneyTap, Finnable, Incred, MoneyView, Kreditbee and Credy. You may also use MI Credit and Pay Sa for enjoying instant credit access via from your e-wallet.

A user can  borrow against your fixed deposit if you haven’t enough credit score, don’t meet the salary requirements, or don’t have any other option to offer as collateral for a secured personal loan.

You get a host of options to repay your instant app loan. You can use UID, wallet options, or bank transfer to repay your instant loans online. It takes a couple of taps on your smart phone to repay loan from linked payment accounts.

mPockket offers instant cash loan up to 20000 to students. The loans are typically designed to offer cash gaps for young population. The tenure is capped at 3 months to ensure ease of repayment as well as debt affordability for young borrowers.

Most Loan Apps credit Instant Loans to salaried individuals. All you need to do register with your Pan, Aadhaar and bank account, and instantly you get eligibility limit for your profile. You can instantly borrow without any further adieu. Some of the best Instant Loan apps for salaried individuals are MoneyView, MoneyTap, Credy, Cashe, Finnable, InCred and Early Salary.

These days bank apps such as SBI YONO, ICICI iMobile, Bajaj Finserv’s Experia, India Bulls’ Dhani and many more are as fast as new age lending apps. However, the choice should be based on your specific needs. For pocket size cash needs for a few months and situations where you fail to meet eligibility criteria set out by traditional lenders like high credit score, lending apps are preferred choice. Whilst for Long Term Loans where you need EMI based repayment option, search out various loans from banks and NBFCs. MyMoneyMantra helps you find the best suitable loan to meet your cash needs most affordably and conveniently.

If you fulfil the eligibility criteria for a personal loan of Rs. 50,000, you can avail it without providing a salary slip and collateral. You have to be a self-employed or a salaried employee aged between 21 to 60 years.