30+ Best Instant Loan App In India 2022 for Instant Approval

Are you in need of some fast cash? Are you looking for the Best instant loan app that can help you get the money you need in a hurry?

If so, you’ll want to check out the best instant loan app in India 2022. This app is known for its quick and easy approvals, so you can get the money you need without any hassle.

These apps are designed to help you get the money you need quickly and easily, with little or no hassle. So whether you’re facing an unexpected expense or need a little extra cash to cover your monthly expenses, these apps can help.

Keep reading to learn more about the best instant loan app available in India and find the one that’s right for you.

When looking for a loan app, the first question is: Does this provider offer instant approval? In general, the best instant loan apps in India 2022 are designed to provide you with fast and convenient access to your cash. After all, nobody has enough money lying around in their bank account to cover an unexpected expense. 

So, I have compiled a list of 30+ best instant loan app In India 2022 for you to approach.

Here is the list of the best instant loan app in India 2022

What” Ahead

  1. Lists of Best Instant Loan App In India 2022
  2. What is an Instant Loan App?
  3. How does an Instant Loan app work?
  4. Why should you prefer Instant Loans?
  5. Why should you consider a personal loan?
  6. Features and Benefits of Instant Loan apps.
  7. Personal Loan Eligibility Criteria through Instant approval App?
  8. Documents Required For Instant personal Loans Apps?
  9. Factors to consider while taking an instant loan from apps.
  10. Final Thought
30+ Best Instant Loan App In India 2022 for Instant Approval
30+ Best Instant Loan App In India 2022 for Instant Approval

Here is the Lists of Best Instant Loan App In India 2022 for Instant Approval

#1. MoneyTap Instant Loan App. 

MoneyTap Instant Loan App is one of India’s best instant loan app for instant approval. It has provided loans to people with Credit History or no credit history and without any collateral.

MoneyTap provides its customers with a wide range of financial products such as personal loans, microfinance loans, and others, depending on their requirements and eligibility criteria.

The process is quick and easy; all you need to do is just apply online or over a phone and get your desired product instantly approved by the company executives within minutes after applying!

The best thing is that you may obtain an emergency loan for as low as Rs. 3000 and up to Rs. 5 Lakhs in India. You can use the cash any way you wish by paying a tiny 13% per annum interest rate, which is considerably lower than other lenders’ charges.

Key Highlight

  • Founded in: 2015
  • Country of origin: India
  • Type of business: Loan provider
  • Interest rates: 13% to 36% per annum
  • Minimum loan amount: Rs.3,000
  • Maximum loan amount: Rs.5,00,000
  • Loan Tenure: 1 to 36 months

Some advantages of using the MoneyTap Instant Loan App include:

  • Instant approval of loans
  • Wide range of financial products available
  • Quick and easy process
  • Low-interest rates
  • No usage, No Interest.

Some people may find it difficult to get approved for a loan.

  • The interest rates may be high for people who do not have a good credit history
  • The loan amount may not be enough for people who need more money.
  • A processing fee is high.
  • KYC Processing takes time.

Elegliablity criteria may

  • Your age should be between 23-55 years.
  • You should be a citizen of India.
  • You must have an active mobile number and a verifiable email address.
  • You must have a bank account that is linked to your mobile number.
  • Your income should be more than Rs. 30,000 per month.

Here are app store details for MoneyTap Instant Loan App.

MoneyTap Google Play Store Details
MoneyTap Google Play Store Details

Particulars Google Play Store  Apple Play Store
App Rating 4.2 4.3
No. of App Reviews 3,11,165 15.3K
App Size 37 M 152.7 MB
Compatibility Android 5.0 and up Requires iOS 10.0 or later.

The average review is 4.2 stars out of 5 on Google Play Store, till the writing of this post, 3,11,748 people have given the review, and it is still growing, so you can expect a high-quality app from this provider.

MoneyTap is one of the top lenders in India, and it is clear from the ratings that people are generally happy with what the app has to offer. I have not personally used the app, but it seems genuine as per the research and ratings.

Best For: 

MoneyTap is best suited for people whose income is more than Rs.30,000/- per month and who want instant approval of a loan without any hassle.

#2. India Lends Instant Loan App.

IndiaLends is an online marketplace for credit products and loans that includes free credit reports, various credit cards, and personal loans from several banks and NBFCs. IndiaLends Instant Loan App offers Instant loan approval with no paperwork.

Apart from personal loans, India Lends Instant Loan App also offers technology, data, and credit analytics solutions, which has helped several businesses in India. You can get a loan amount of up to 25 lakh, and the interest rate starts at 10.25% per annum.

You simply need to enter some basic information about yourself and the loan amount you need to get started.

Once you submit your application, the app selects the best suitable Banks/NBFCs for you and gets you the lowest interest rate. IndiaLends has associations with more than 50+ Banks/NBFCs and has helped over 1,00,000 borrowers to date.

Key Highlight

  • Loan amount: Rs. 50 lakhs
  • Interest rate: starts at 10.25% per annum
  • IndiaLends Instant Loan App offers 100% online technology and digital solutions.
  • At least 6 months of work experience is required.
  • The instant loan app offers a simple application process that does not require paperwork.

Some of the advantages of IndiaLends Instant Loan App are: 

  • Instant approval with no paperwork.
  • Free Credit Report.
  • Low-interest rates, starting from 10.25%
  • Have association with 50+ Banks and NBFC
  • The loan amount may go up to 50 Lakh.
  • The loan is available for both salaried and self-employed.
  • Only Rs. 10,000 minimum Salary is required for application.

Some of the disadvantages of the IndiaLends Instant Loan App are: 

  • You may not get the best interest rate.
  • The loan amount you receive may be lower than what you requested.
  • There is no physical office, so you will need to contact them online if you have any problems.
  • Even if your loan is approved, the amount may not be credited to your Bank.
  • There are many technical errors in Loan App which need improvement.
  • Loan Processing fees are very that may vary from 2% to 6%.

Here are app store details for India Lends Instant Loan App 

The average user has given a 3.7 rating out of 5. Many users have given negative reviews, but most of them are connected to technological glitches. Some users have also reported that the amount has not been transferred even after the loan was approved.

Particulars Google Play Store  Apple Play Store
App Rating 3.7
No. of App Reviews 69,913
App Size 22 M
Compatibility Android 4.4 and up

Best For: 

This loan is best for a Salaried and self-employed person who needs a loan amount of up to Rs. 50 lakh and has a minimum salary requirement of Rs.10,000/-. So if you are looking for best instant loan app, this app can be best bet.

Read More : How to choose a credit card for the first time?

#3. KreditBee Instant Loan App.

KreditBee is an instant loan app that provides personal loans to salaried professionals and self-employed.

The KreditBee Instant Loan App offers a hassle-free experience with no paperwork or guarantors needed. You can get a loan amount of up to Rs.2 lakh, and the interest rate starts at 0% to 29.95% per annum.

The loan tenure starts from 62 days to 15 years.

KreditBee Instant Loan App offers several types of loan products for a variety of needs, which include:

  • Flexi Personal Loan
  • Premium Loans for Salaried
  • Premium Loans for Self Employed
  • Online Shopping Loan
  • KreditBee Card

Key Highlight

  • Founded by a team of IIT and IIM alumnus, KreditBee is an online instant loan platform.
  • KreditBee offers loan amounts starting at Rs.2 lakhs and interest rates at 0% to 29.95% per annum.
  • The loan tenure ranges from 62 days to 15 years.
  • The maximum loan amount depends on the purpose of the Loan or Up to Rs.2,00,000
  • You can get a loan without any paperwork or guarantors needed.

The advantages of the KreditBee Instant Loan App are: 

  • Instant approval with no paperwork or guarantors needed.
  • Hassle-free experience.
  • No minimum salary requirement.
  • Low-interest rates, starting from 0% to 29.95%.
  • Offers a variety of products for a variety of needs.

Some of the disadvantages of the KreditBee Instant Loan App are: 

  • The Maximum Loan there 15 months.
  • The Processing fees start from 2 onwards up to 7%
  • Apart from processing fees, they also charge one-time onboarding fees of Rs.20 to 350, depending on the risk profile.

App Store Details :

Particulars Google Play Store  Apple Play Store
App Rating 4.3 4.5
No. of App Reviews 6,53,488 1.7K
App Size 16 M 78 MB
Compatibility Android 4.4 and up Requires iOS 10.0 or later.

The average user has given a 4.4 rating out of 5, which is quite good. Most users are happy with the product, but some complain about the high-interest rates and credit limit. You should read all reviews of customers before choosing the app.

Best For: 

This loan is best for a Salaried professional who needs a loan for a short period and doesn’t want to go through the hassles of paperwork and guarantors.

#4. Kreditzy Personal Loan App 

Kreditzy Personal Loan App is similar to KreditBee Instant Loan App . An instant loan app provides personal loans to salaried professionals and self-employed.

The Kreditzy Personal Loan App offred by Krazybee Services Private Limited.

This loan is for people who need instant cash to fulfill their needs. The Kreditzy Personal Loan App offers an easy and quick way to apply for personal loans online in India, including regular monthly income, so you don’t have to worry about your low income or credit history. The company provides loans up to Rs 2 lakhs with flexible Tenure of up to 62 days to 15 months.

The interest rates start from 0% per annum and increase to 29.5% per annum. The company has not disclosed the Annual income required for processing the loan.

Key Highlight

  • The company provides loans up to Rs 2 lakhs
  • The annual income required for processing the loan is not disclosed
  • Interest rates start from 0% per annum

The benefits of the Kreditzy Personal Loan App are:

  • Instant approval with no paperwork or guarantors needed.
  • 100% Online process.
  • Bank transfer within 10 minutes of approval.
  • You can get a loan from PAN India.

Here are disadvantages of the Kreditzy Personal Loan App are:

  • The interest rates are high when compared to other loans.
  • The processing fees start from 2% onwards and go up to 7%.
  • The maximum loan tenure is 15 months.
  • One-time services range from Rs.30 to Rs.350

Read More: How old do you have to be to get a credit card with a parent?

App Store Details :

Particulars Google Play Store  Apple Play Store
App Rating 4.2 4.5
No. of App Reviews 86,692 12
App Size 14 M 37.10 MB
Compatibility Android 4.4 and up Requires iOS 12.1 or later.

The Google play store rating is 3.9 out of 5; till now, a total of 82,662 people have reviewed the app. Many users have given a 1-star rating; they have commented that the app is not user-friendly, there are a lot of technical glitches, and the customer service is not up to the mark.

Best For: 

This loan is best for people who need instant cash to fulfill their needs. For example, medical emergencies, home renovation, and other desires require quick money.

#5. NIRA Personal Loan App.

The NIRRA Personal Loan App is a nicely designed personal loan that may be used to pay medical bills, rental deposits, weddings, and other things in only a few minutes.

The best part is that you can also set up auto-debits from your bank account to make repayment super easy. You can apply for a loan as low as ₹2,500 and as high as ₹1,00,000/- with a repayment tenure of up to 36 months.

For getting a loan, you need to put your details on the NIRRA Personal Lender Online application page & get immediate approval to get cash transferred to the bank account.

NIRRA Personal Loans are available to salaried employees, self-employed professionals, and small business owners who can provide regular income proofs.

Here is the Key Highlight of the NIRA Personal Loan App:

  • Quick and easy application process.
  • Instant loan approval.
  • Minimum documentation is required.
  • Get your cash transferred to your bank account within minutes.
  • Minimum loan amount: ₹2,500
  • Maximum loan amount: ₹1,00,000/-
  • Repayment tenure: 12 months
  • Interest rates: starts at 24% to 36% p.a.

The benefits of the NIRA Personal Loan App include:

  • The easy and quick application process
  • Instant approval
  • Only Aadhar and PAN required 
  • Very Low minimum salary requirement( Rs.12,000)

The disadvantages of the NIRA Personal Loan App include:

  • High-interest rates compared to other personal loan providers
  • Very Low repayment tenure
  • No fixed-interest option is available
  • There are higher for first-time approval.

App Store Details: 

Particulars Google Play Store  Apple Play Store
App Rating 4.4
No. of App Reviews 85,873
App Size 25 M
Compatibility Android 5.0 and up

The Google Play store rating: 4.4/5 stars and The app store rating: 4.7/5 stars; until writing this article, 87,171 customers have rated the app on the Google Play store.

However, many user reviews have said that the app shows that the loan will be credited in 5 minutes, but it took more time.

Best For:

The NIRA Personal Loan App is best for people who need a personal loan urgently and do not want to go through the hassle of documentation and long approval processes. The minimum amount you can borrow with this app is Rs.2,500, and the maximum amount you can borrow is Rs.1,00,000/-. The repayment tenure is also very low at 12 months. However, the interest rates are high compared to other personal loan providers.

#6. PaySense: Personal Loan App

Loan approval is now as easy as snapping a selfie for many Indians. PaySense is one such instant loan app where you can apply for a personal loan in just a few minutes with necessary documents.

The application process is simple and hassle-free, where the borrower has to fill out some details about their occupation, monthly income, and more. You can get a free quote of your loan amount and repayment schedule in a matter of minutes.

You can avail of loans from Rs.50,000 to up to Rs.5 lakhs depending on your income and credit history. However, you need to be at least 18 years old with a valid Aadhaar card for enrolling in the app.

The Interest rate varies from 16% to 36% annually, and the loan tenure can be from 3 to 36 months.

Key Highlight:

  • The Loan tenures can be from 3 to 36 months.
  • The Maximum Loan amount is Rs.5 lakhs
  • The Minimum age required is 18 years
  • The Funds will be credited to your bank account within 3-5 days working days in some cases.
  • No Security Required

Some of the advantages of using PaySense are:

  • The application process is simple and easy to follow.
  • You can get a free quote of your loan amount and repayment schedule in minutes.
  • The interest rates are competitive when compared to other personal loan providers.
  • Depending on your income and credit history, you can avail of loans from Rs.50,000 to up to Rs.5 lakhs.
  • The funds will be credited to your bank account within 3-5 days working days in some cases.
  • No security is required to avail of a personal loan through the app.

Some of the disadvantages of using PaySense are:

  • If you have a bad credit rating, the loan may be denied.
  • Several papers must be confirmed, which may take some time.

App Store Details: 

Particulars Google Play Store  Apple Play Store
App Rating 3.7
No. of App Reviews 80,653
App Size 24 M
Compatibility Android 4.4 and up

The Google Play Store user rating is 4.3 stars out of 5. The app has received more than 84,753 reviews with some good ratings as well.

Best For :The Best credit card with the lowest interest rate in India

People who are looking for an instant personal loan without any hassle and have a minimum salary of Rs.18,000/-

#7. Money View Personal Loan App.

Money View Personal Loan App
Money View Personal Loan App

The Money View Personal Loan App offers easy online personal loans for instant approval. If you need a little extra cash to cover your bills or a loan for a larger purchase, this app can help.

Apart from the loan, they offer you a smart money manager who keeps track of your expenses and tells you where to save money.

You can borrow anywhere from Rs.10,000 to Rs.5,00,000, and the application process is straightforward.

Depending on the loan amount you borrow, you may be able to get your loan amount in as little as one business day. The Interest rate on the Money View Personal Loan is 16% to 39%.

Key Highlight:

  • Get your loan amount in as little as one business day.
  • The interest rate of 16% to 39%.
  • Loan tenures start from 3 months to 5 years.
  • The processing fee is up to 4% of the loan amount.
  • Maximum Loan Amount: Rs. 5,00,000
  • The minimum loan amount is Rs. 10,000.

Some advantages of the Money View Personal Loan App include:

  • The easy online application process.
  • No need to go through a long and tedious process.
  • Instant approval of your loan.
  • You can borrow from Rs.10,000 to Rs.5,00,000.
  • Loan tenures start from 3 months to 5 years.
  • Maximum Loan Amount: Rs. 5,00,000
  • In-built money management tool.

Here are the disadvantages of the Money View Personal Loan App.

  • The app’s processing fee is 4% of the loan amount, which may not be affordable for people with lower incomes.
  • Takes some time for processing.

App Store Details: 

Particulars Google Play Store  Apple Play Store
App Rating 4.4 4.3
No. of App Reviews 4,45,118 15.3K
App Size 21 M 152.7 MB
Compatibility Android 4.4 and up Requires iOS 10.0 or later.

4,43,427 users have installed this app and have given reviews 4.6 stars out of 5. Most of the review is positive.

Best For :

People who want to borrow from Rs.10,000 to Rs.5,00,000 for a short period.

People can afford a processing fee of 4% of the loan amount.

People who need a money management tool along with their borrowed amount.

#8. EarlySalary: Personal Loan & Salary Advance App.

This app offers a fast and simple way to get an instant cash loan. The EarlySalary: Personal Loan & Salary Advance App provides salary advances to users through their paychecks.

App users can borrow up to 80% of their monthly salary, and no credit check is required. You do not need to worry about any hidden charges. The app only requires a nominal processing fee.EarlySalary also tracks your behavior and score every week to help you improve your creditworthiness.

Apart from 80% of their monthly salary, they also offer you a Personal loan ranging from Rs.5,000 to Rs.1,00,000. The Loan tenure may vary from 90 days to 24 months.

Interest rates on the EarlySalary Personal Loan range from 0% to 36%.

Key Highlights of EarlySalary:

  • Personal loans for salaried employees are available from 8000 to 5 lakh rupees
  • Repayment terms range from 90 days to 24 months, with a flexible repayment period of up to 24 months.
  • There are no prepayment costs.
  • Instant Personal loans interest starts from 0% to 36%.

The advantages of EarlySalary: Personal Loan are:

  • You don’t need to worry about any hidden charges because there aren’t any.
  • Payments can be made in monthly installments.
  • You do not need to have an excellent credit score.
  • Interest rates vary from 0% to 36%.
  • App Store reviews are mostly positive, with 4.6 out of 5 stars.

Here are the main disadvantages of EarlySalary

  • The main disadvantage of EarlySalary is that you have to have a monthly salary.
  • EarlySalary requires a nominal processing fee that may not be affordable for low-income people.
  • Interest rates are high.
  • Its competitors have longer tenures.

Read More : Credit Cards or Debit? Advantages of Credit Cards Over Debit Cards

App Store Details: 

Particulars Google Play Store  Apple Play Store
App Rating 4.5 4.4
No. of App Reviews 1,55,105 11.5K
App Size 11 M 125.3 MB
Compatibility Android 5.0 and up Requires iOS 11.3 or later.

In total, there have been 5,00,0000+ users who have installed the app on their phone, and it has a rating of 4.6 out of 5. Most of the reviews are positive except for a few negative ones about high-interest rates and short tenures.

Best For :

  • People with monthly salaries.
  • People who are willing to pay a nominal processing fee.
  • People whose credit scores are not good enough to get loans from banks.

#9. CashBean Loan App – Personal Loan by PC Financials

This simple and user-friendly personal loan application helps you plan for any big or small occasion. It offers cash loans of up to Rs.60,000.

CashBean Firm is registered under the RBI and is one of India’s most reliable instant loan providers. This Firm was founded in the year 2018.

Interest rates on the CashBean Loan App range up to 25.55% per annum, which is high compared to other Personal Loan Apps.

Key Highlights of CashBean Loan App.

  • You can borrow up to Rs.60,000 as a personal loan.
  • The interest rates charged on the loans are 25.55% per annum.
  • The application is simple and easy to use.
  • You do not need a guarantor or collateral to get a loan from CashBean Loan App.
  • CashBean Loan App is registered under the RBI.
  • The minimum loan amount is Rs.1500
  • The Loan tenures start from 3 to 6 months.
  • The processing fee for a personal loan is typically between Rs 90 and Rs 2,000 per one-time charge, determined by the amount of money borrowed and the application information.

The advantages of the CashBean Loan App are:

  • You can borrow up to Rs.60,000 as a personal loan.
  • The application is simple and easy to use.
  • No credit history is required.
  • You do not need a guarantor or collateral to get a loan from CashBean Loan App.
  • CashBean Loan App is registered under the RBI.
  • The minimum loan amount is Rs.1500
  • The Loan tenures start from 3 to 6 months.
  • Available Pan India

The disadvantages of the CashBean Loan App are:

  • The interest rates are high – up to 25.55% per annum.
  • There is no option for deferment or installment plans.
  • The amount of money being borrowed is also significantly less than that of the competition.
  • The processing fee is substantial, ranging from Rs 90 to Rs 2,000 per one-time charge, depending on the amount of money borrowed and the application details.

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 4.0 4.2
No. of App Reviews 13,11,660 9.42K
App Size 10 M 55.3 MB
Compatibility Android 5.0 and up Requires iOS 11.0 or later.

CashBean Loan App has been downloaded by 13,00,0000+ people and has a rating of 4.0 out of 5. Most of the reviews are negative, with people saying that they were charged an exorbitant processing fee and the loan approval rate is low.

Best For:

People with low credit scores and bad credit history want to borrow money as a personal loan

#10. Credit – Instant Loan online.

Credit Instant Loan app was founded and registered under the name of Credify Technologies Private Limited. They are a fintech company, and they believe in helping people fulfill their dreams of owning things like gadgets and appliances. 

Credit Instant Loan app lenders do not perform credit checks or run bank-level security checks on borrowers.

This ensures no need for collateral while applying for loans on the Credit Instant Loan app.

You can use the Credit Instant Loan app to borrow anything from Rs.5000 to Rs.30,000 with flexible Tenure of 90 days to 180 days based on eligibility.

The interest rates charged on the Credit Instant Loan app range from 20%.

Key Highlights of Credit – Instant Loan online.

  • You can borrow anything from Rs.5000 to Rs.30,000 with flexible Tenure of 90 days to 180 days based on eligibility
  • The interest rates charged on the Credit Instant Loan app range from 20% onwards
  • There is no need for collateral while applying for loans on the Credit Instant Loan app
  • Credit Instant Loan app lenders do not perform credit checks or bank-level security checks on borrowers.
  • No credit history is required, and no prepayment charges at all.

The advantages of the Credit – Instant Loan online are:

  • The loan is approved within 10 Minutes.
  • You can take a loan for any purpose.
  • You don’t need a credit history or collateral to get a loan.
  • You can take as minimum as Rs.5,000

The Disadvantages of the Credit – Instant Loan online are:

  • The Loan tenures are very low
  • The interest rates are quite high
  • The loan is not available of PAN India

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 4.2 4.7
No. of App Reviews 29,565 5.6K
App Size 25 M 13.8 MB
Compatibility Android 4.4 and up Requires iOS 12.1 or later.

Credit: Instant Loan online is not famous on the Google Play Store and the iOS App Store.

The Credit Instant Loan app has been downloaded by 10,00,000+ people, and it has a rating of 4.2 out of 5. Most people complain that the loan is not transferred to the bank account on time.

Best For:

People who need money urgently for any purpose and want to avoid credit checks.

#11. SmartCoin-Instant Personal Loan App.

SmartCoin is a digital banking fintech company that enables consumers and small business owners to access funds within minutes. This app is managed by a team of professionals dedicated to providing easy access to funds. There are no hidden charges, so you can find out about them before getting approved for a loan.

They have disbursed over 2 million small loans to over 6 million happy users in the country. They offer loans ranging from Rs.4,000 to 1,00,000/- with an interest rate of 22% per annum.

Key Highlight:

  • The minimum loan amount is Rs. 4,000.
  • The maximum loan amount is 1,00,000 rupees.
  • The duration of a loan varies from 62 to 180 days.
  • The interest rate can range from 0% to 30% per year.
  • Within two working days, you’ll receive the loan amount.
  • Minimum documentation and no collateral are required
  • No prepayment charges

The benefits of using this app include:

  • Ensuring fast and convenient access to loans as soon as they need it through an easy application process
  • No collateral or guarantor is needed
  • Get the loan amount credited to your account in less than 10 minutes
  • Money can be used for any purpose

Some of the disadvantages of using this app include:

  • Interest rates can be high, so it’s important to compare interest rates before selecting a loan
  • The minimum and maximum loan amounts might not be sufficient for your needs
  • The loan duration might not be long enough.

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 4.4
No. of App Reviews 1,24,943
App Size 19 M
Compatibility Android 4.4 and up

There are more than 50,00,000 installed and 4.4 ratings for SmartCoin in Android’s play store, and there are over 1,27,938 customer reviews with lots of positive reviews.

The customer seems to be happy with the service.

12. RapidRupee-Instant Online Personal Loan App.

RapidRupee is funded by AFG Business Solutions (India) Private Limited. AFG Business Solutions (India) Private Limited is a 100% subsidiary of a Foreign company

RapidRupee is an instant personal loan app that offers a loan amount ranging from Rs.1,000 to Rs.60,000 across India. The tenures range from 61 days to 365 days. This app promise that the loan is disbursed within 30 minutes of the application.

Here is the key highlight of this loan app:

  • Instant approval
  • One-hour disbursement of funds
  • Minimal paperwork and instant money transfer to the account.
  • Minimum Loan Rs.1,000
  • Maximum Loan Rs. 60,000
  • The annual percentage rate is 12% (1% each month).
  • The processing fee starts at just Rs.349
  • No membership or upfront fees

Some of the advantages of using the RapidRupee-Instant Online Personal Loan App are:

  • Instant approval and One-hour disbursement of funds
  • Minimal paperwork and instant money transfer to the account.
  • You can take a loan minimum of Rs.1,000
  • Interest rate better than most banks
  • No hidden costs

The key disadvantages of using the RapidRupee-Instant Online Personal Loan App are:

  • The fixed Processing fee is high when compared to other loans.
  • Loan tenures are short.
  • The maximum loan amount is less
  • The processing fee changes now and then.

Read More : Personal Loans vs. Credit Cards: Which Loan is Right for You?

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 4.4
No. of App Reviews 2,71,409
App Size 19 M
Compatibility Android 5.0 and up

The Google play rating of the RapidRupee-Instant Online Personal Loan App is 4.4 stars.

The app seems to have positive reviews from users. Users appreciate how easy it is to apply for a loan through the application. However, some people complain that when they don’t get second approval even after paying all the dues, the money they have paid is gone for good.

Best For :

The RapidRupee-Instant Online Personal Loan App is best for people who need a small loan amount urgently and don’t want to go through the hassle of paperwork.

#13. HomeCredit–Personal Loan.

Home credit offers secured and unsecured loans to salaried individuals for all purposes. They offer personal loansHome Appliance LoanUjjwal Card EMI Solution, and so on. Home Credit India offers multiple options for pre-approved personal loans of up to Rs 2,40,000 lakhs with a quick approval process to be completed quickly.

HomeCredit is the subsidiary of Czech-based HomeCredit International, running in several countries of Asia, Europe, and America.

Here is the Quick Highlight of HomeCredit for Personal Loan-

Quick Highlights of Home Credit India.

• Up to 2,40,000 lakhs loan amount.

• Repayment term between 6 months and 51 months

• Quick approval process with less documentation required.

• Ideal for salaried individuals who are looking for instant loans

• The Processing fees ranges from 0% to 5% of the loan amount

Some advantages of HomeCredit–Personal Loan are:

  • A quick approval process with less documentation is required.
  • You can take a loan of up to 2,40,000 lakhs loan amount.
  • The repayment term is long.
  • All of your personal information is 100% secure and private when you use their app.

Disadvantages of HomeCredit–Personal Loan

  • The processing fees can be high.
  • The interest rates are also high.
  • There are hidden charges that are not very transparent.
  • Rates of interest differ depending on the product.

App Store Details:

Till the writing of this beautiful article, more than 10M customers have downloaded this app and rated it 4.3/5.0. However, after reading the review of customers on the play store, it can be concluded that there are both good and bad reviews of customers.

Best For:

If you are looking for an instant loan in India, HomeCredit is a great option to explore. You can get quick approval, and the process is simple and easy to understand. Be sure to compare interest rates and fees between different lenders before making your final decision.

#14. mPokket: Personal Loan & Instant Student Loan App

mPokket Personal Loan & Instant Student Loan App
mPokket Personal Loan & Instant Student Loan App

mPokket is a personal and instant student loan app that promises to get you your desired loan amount in just minutes. It also offers an easy-to-use interface and detailed information on each product. The loan amount ranges from Rs.500 to Rs.30,000, and the interest rate is 24% to 48% per annum.

Here is the quick Highlight of the mPokket App.

  • Instant loan disbursement
  • Easy documentation
  • The fast and easy approval process
  • Loan amount Ranges from Rs.500 to Rs.30,000
  • Loan tenures range from 61 days to 120 days.

Some advantages of using the mPokket app include:

  • Up to Rs 30,000 in Instant Personal Loans.
  • Cash advance to Bank/Paytm Account, cash loan in 2 minutes.
  • Flexible Repayment Options, Repay in 4 Months

Disadvantages of mPokket

One disadvantage of using the mPokket app is that the interest rates are high compared to other lenders. The loan amount is also limited to Rs.30,000, which might not be enough for some borrowers. Additionally, the repayment terms are also quite short, which might not suit everyone.

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 4.2
No. of App Reviews 4,27,993
App Size 30 M
Compatibility Android 5.0 and up

The average Apple Store rating is 4.2 out of 5 stars. One user says that mPokket has too many annoying popups, and they are constantly encouraged to take out additional loans. A few users also say that mPokket does not give loan approval immediately.

Best For:

mPokket is best for people who do not have a steady source of income. The reason is that it offers up to Rs.30,000 as instant loans, which are sufficient for many small expenses. College students can also take advantage of the instant student loan facility offered by mPokket.

However, the interest rate is high when compared to other lenders, so be careful when taking out loans because it can be too expensive if you are not careful.

#15. PayMe India Online Personal Loan App

The PayMe India online app tagline is PayMe India Financial Happiness. They are a Noida, India-based startup and offer unsecured personal loans. They recently raised $2 million in a Pre-Series A round of funding from Singapore-based investors.

They offer loans from Rs.2,000 to Rs.2,00,000 and have an interest rate starting at 18%.

Here are the features of the PayMe India App.

  • No security is required to take a personal loan from PayMe.
  • Approval in one working day.
  • Flexible tenures from 3 to 24 months.
  • 24/7 customer support for all your queries and grievances.

Some advantages of using the Payme App include:

  • 100% paperless process.
  • You can get up to Rs.2,00,000 loan.
  • NIL charges on foreclosure.
  • NIL charges on pre-part payment.
  • Loan without any collateral.
  • You can also pay rent payments via credit card.

Disadvantages of PayMe India Online Personal Loan App

  • Loan Amount: The maximum Amount that can be borrowed with this app is Rs.2,00,000, which might not be sufficient for large personal loans.
  • Loan Tenure: Loan tenures are also limited to 3 to 24 months.
  • Interest Rate: The interest rate of 18% to 42% is also very high and might not be suitable for borrowers.
  • Very High processing fees: One drawback of the Payme App is that the processing fees are very high and might not be suitable for some borrowers.

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 4.2
No. of App Reviews 36,798 Not rating Yet
App Size 15 M 22.9 MB
Compatibility Android 6.0 and up Requires iOS 13.0 or later.

The average Apple Store rating is 4.2 out of 5 stars. A big issue seems to be that the PayMe App does not give loan approval immediately or within one day, which is their claim in their tagline. A few users are also unhappy with the customer service.

Best For:

PayMe is best for people who need a small personal loan and are willing to pay high-interest rates. The app is also paperless, making it easy and convenient to use. You can also make rent payments using credit cards, an added advantage.

#16. InstaMoney Personal Loan App.

The InstaMoney app is backed by a direct lending company, LenDenClub – Innofin Solutions Pvt. Ltd. It offers loans from Rs.5,000-25,000 to salaried individuals with a having age of more than 18 years at an interest of 24%-35.88% per annum.

 InstaMoney has over 3 million users in India and is available in 10 Indian languages. The app is available on the Google Play Store and the App Store.

The InstaMoney app has the following features:

  • Loan amount from Rs.5,000 to Rs.25,000.
  • Interest rates of 24%-35.88% per annum.
  • Tenures from 3 to 12
  • Graduate to the higher loan amount and more products with on-time repayments.

Some advantages of using the InstaMoney App include:

  • You can get a loan amount of Rs.5,000 to Rs.25,000.
  • Loan without any collateral.
  • The loan is disbursed within 2 hours of application.
  • You can repay the loan in 3 to 12 months Tenure.
  • 24/7 customer support.

Some disadvantages of using the InstaMoney App include:

  • High-interest rates: The interest rates are high compared to other lenders and might not be suitable for all borrowers.
  • You need to have a minimum of Rs.12,000 per month to qualify for a loan.
  • The loan amount is very low: The loan amount might not be sufficient for all borrowers.
  • InstaMoney charges relatively high processing fees. They charge 5% of the loan amount as processing fees.
  • The interest rates vary from case to case, depending on various factors such as repayment capacity, borrower’s income level, creditworthiness, etc.

Read More : How Do Co-Branded Credit Cards Work?

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 3.8
No. of App Reviews 53,307
App Size 54 M
Compatibility Android 5.0 and up

1,000,000+ Installs till now, and the current customers rating is 4.2 /5. Customers have shared that they have had a very bad experience with this app and rated it 1/5. Some customers have claimed that they have paid Rs.199 as a processing fee but have not received their loan yet.

Best For:

If you need a loan quickly and your credit score is good, this could be the right option for you.

#17. Dhani: Cards with Credit & Online Mart & Pharmacy

Dhani Cards with Credit & Online Mart & Pharmacy
Dhani Cards with Credit & Online Mart & Pharmacy

Dhani provides loans starting from Rs.1,000 to Rs.5,00,000 for a period of 6 months to 60 months after instant verification using an Aadhar card at an interest rate of 1-3% per month. They began as a pharmaceutical store, then expanded into financial services.

Here is the Key-Highlight of the Dhani App:

  • Dhani is a unique application that offers Credit, E-commerce, and Pharmacy all in one go.
  • Loan starting from Rs.1,000 to Rs.5,00,000 for a period of 6 months to 60 months.
  • The interest rate of 1-3% per month.
  • The application is available both on the App Store & Google play store.
  • All of the application’s stages are conducted online, and there is no need for extensive documentation.
  • Loans are available to both employed and self-employed individuals.

Some advantages of using the Dhani App include:

  • You can get a loan amount of Rs.1,000 to Rs.5,00,000.
  • Loan without any collateral.
  • The loan is disbursed within 1-2 hours of application.
  • You can repay the loan in 6 to 60 months of Tenure.
  • 24/7 customer support.
  • All of the application’s stages are conducted online, and there is no need for extensive documentation.
  • The cashback is exceptionally provocative.
  • Loans are available to both salaried and self-employed people.

Some disadvantages of the Dhani App include:

  • High-interest rates: The interest rates are high but lower than most other lenders.
  • The processing fees are high: Dhani charges 3% of the loan amount as processing fees.
  • The interest rates vary from case to case, depending on various factors such as repayment capacity, borrower’s income level, creditworthiness, etc.
  • They take 1-3 days while processing the loan.

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 3.8 4.2
No. of App Reviews 53,307 30.3K
App Size 54 M 112.1 MB
Compatibility Android 5.0 and up Requires iOS 12.2 or later.

Dhani has been installed more than 50,000,000+ times, and the current customers rating is 4 /5 on the App Store. Customers have shared that they have a good experience with this app and rated it 4/5. However, many are claiming that they have paid Rs.599 as subscription fees and the application is not working, and they haven’t received their loan yet.

Best For:

If you do not have a regular income source and need a quick loan for any purpose, this could be right for you.

#18. FlexSalary Instant Loan App.

FlexSalary Instant Loan App is funded by Vivifi India Finance Pvt Ltd, a non-banking financial company registered with the RBI.FlexSalary provides you with an instant cash loan against your salary at any time. It’s a personal loan that doesn’t require a set monthly payment. It’s a flexible loan, so you may pay back the money in whatever EMIs you choose.

Here are the features of the FlexSalary Instant Loan App

  • You can choose flexible monthly EMI without a set principle for your loan.
  • The repayment tenure of your loan is from 10 months to 60 months.
  • The maximum loan amount that you can avail of from this instant loan app is Rs 2 lacs based on income and employment status.
  • The application process is completely online.
  • You can download your loan instantly and get it transferred to your account within 4 hours.

Some advantages of using FlexSalary Instant Loan App include:

  • The maximum loan amount you can avail of is Rs 2 lacs based on income and employment status.
  • The application process is completely online.
  • You don’t require any guarantor or collateral to apply for this loan.
  • You choose to select how long you want to take out the loan.
  • Repayment policy that is in line with the regulations
  • There are no Bounce cheque fees or Prepayment penalties.

Here are the disadvantages of the FlexSalary Instant Loan App

  • You have to pay a One-time Processing Fee Rs.350 to Rs.750.
  • The interest rates are a bit high and vary from case to case.
  • You might not be approved for a loan if your credit score is low.
  • You have to pay Line usage fees of Rs.150 if the credit line is kept active after a part payment for a balance of Rs.10,000

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 4.6 2.4
No. of App Reviews 26,278 159
App Size 32 M 115.5 MB
Compatibility Android 4.1 and up Requires iOS 12.1 or later.

FlexSalary has been installed more than 1,000,000+ times, and the current customers rating is 4.6 /5 on the App Store. Customers have shared that the app is super buggy and rated it 1/5. Some claim that the application is not working and haven’t received their loan yet.

A lot of customers complain that the loan limit is very low.

Best For:

This instant loan app is for you if you are an employee and need your salary credited to your account within 4 hours. If you have a regular income source and can fund the EMIs on your own without any help, this could be right for you.

#19. StashFin – Credit Line & Loan.

StashFin is a mobile app that provides you with an instant credit line and loan. Akara Capital Advisors, an NBFC registered with the Reserve Bank of India (RBI), provided the funding for StashFin. Their motto is, “We help you get quick access to money when you need it the most.”

Here are the features of StashFin – Credit Line & Loan

  • You can borrow up to Rs.5,00,000 against your salary or any other form of income.
  • The repayment tenure of your loan is from 3 months to 36 months.
  • The application process is completely online.
  • Loans are available in more than 30+ Cities.
  • You can withdraw money through ATM, online payments, or swipe at any POS.

Some advantages of using StashFin – Credit Line & Loan include:

  • You can borrow up to Rs.5,00,000 based on your salary and employment status.
  • Loan approval in 24 hours and cash transfer within 4 hours of approval.
  • There’s no collateral or guarantor required for this loan.
  • A complete credit report and credit history evaluation is provided free of cost.
  • You can take a small loan of Rs.1,000.
  • Your data is secured.

Disadvantages of StashFin Personal Loan

  • The interest rates are a bit high and vary from case to case.
  • You might not be approved for a loan if your credit score is low.
  • You need to have at least Rs.18,000 salary a month to be eligible.

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 3.7 3.2
No. of App Reviews 1,57,826 584
App Size 32 M 109.4 MB
Compatibility Android 5.0 and up Requires iOS 11.0 or later.

StashFin has been installed more than 1,000,000+ times on the Android platform. The current customers rating is 3.6 /5 which is very low. Customers have shared that the app is buggy and has a lot of errors. The loan processing times often, and the customer service is not up to the mark.

A lot of customers complain that the loan limit is very low.

Best For:

This app is best for people who need a credit line or loan in a hurry and don’t have time to go through a long application process. The interest rates are high, so this is not the best option if you borrow money for a longer period.

#20. LoanTap – Personal Loan App.

The credit marketplace has changed dramatically in the last few years. With more and more people struggling to make ends meet, it’s never been easier for them to get a loan.

However, lenders still want their pound of flesh – they’re looking for borrowers with good credit ratings and low debt-to-income ratios.

This is where LoanTap steps in this Instant Approval app will let you apply for personal loans online, even if your credit score isn’t perfect!

Here are the main features of this Instant Loan app:

  • Quick personal loans online
  • Apply in just 3 minutes
  • Instant approvals within 24 hours
  • Competitive interest rates

The main advantages of LoanTap are:

  • Quick personal loans online: You can get a loan in just 3 minutes!
  •  Instant approvals within 24 hours: You don’t have to wait long for your loan to be approved.
  •  Competitive interest rates: You can get a competitive interest rate on your loan.
  • Loan amount: From Rs. 25,000 to Rs. 10 lakhs
  • Loan tenure: 3 months – 60 months.
  • Tracks your credit history and analyzes loans
  • Apply for instant approval personal loan online in India

The disadvantage of the LoanTap Instant Approval app

  • It does not offer loans for small-time borrowers. The minimum loan amount that it offers is Rs. 25,000.
  • The Minimum Salary required is Rs. 30,000 p.m.
  • The processing fees are high (2%).
  • You need to be at least 21 years old to apply for a loan.

App Store Details:

Particulars Google Play Store  Apple Play Store
App Rating 3.6 4.2
No. of App Reviews 4630 278
App Size Not Fixed 39.9 MB
Compatibility 4.4W and up Requires iOS 10.0 or later.

When writing this post, the Instant Loan app was reviewed by 4626 customers and had a rating of 3.6 stars out of 5 that is very low compared to other Instant Loan apps.

The customer is complaining that his loan is not disbursed even after the approval. A lot of document is asked by the company.

Best For:

All salaried individuals.

#21. RupeeLend

RupeeLend is funded by Rupeelend Pvt Ltd. RupeeLend is the Delhi-based online app to avail instant loan approval. Not Much information is provided on the website. So not writing more about this.

#22. ZestMoney

ZestMoney
ZestMoney

ZestMoney’s business tagline is “Dream big, pay small” is India’s first digital lending marketplace to provide instant personal loans online for salaried individuals.

ZestMoney is an Indian FinTech startup that enables consumers to make purchases in installments using ZestMoney EMI with reasonable interest and no processing fee.

Here are the main features of ZestMoney.

  •  Avail 0% Interest EMI
  •  0 down payment
  •  Zero application fees
  •  Zero processing fees
  •  No pre-closure fees
  • Loan available up to Rs.10,00,000

ZestMoney has the following advantages:

  • Avail 0% Interest EMI: ZestMoney provides interest-free EMIs with no processing fee and no pre-closure fee for all its loans.
  • 0 down payment:  A customer does not need to deposit any down payment, which can be a great relief when they need instant cash.
  • Zero application fees:  ZestMoney charges no application fees.
  • Loans up to one lakh rupees are approved right away.
  • You could also receive a gift card or a discount from online partners like Amazon, Flipkart, Makemytrip, and Myntra.

ZestMoney has many pros but also a few cons. One of the main disadvantages of ZestMoney is that it only offers personal loans and funding to salaried individuals, meaning funding for unemployed individuals or entrepreneurs would not be available. The other disadvantage is that high-interest rates are applied to your loans.

Particulars Google Play Store  Apple Play Store
App Rating 4.7
No. of App Reviews 35,348
App Size 14 M
Compatibility Android 5.0 and up

#23. Paytm Instant personal Loan.

Paytm is a digital payment application using which you can pay for your cab rides, mobile bills, gas bills, and other utilities all through your phone. Paytm is India’s largest mobile payments company and its largest e-commerce provider.

This company offers its customers easy access to everyday needs such as groceries, travel, daily essentials, etc. As per the latest reports, It has 130 million wallet users and serves 5 million daily transactions.

Paytm has partnered with lenders to provide Instant Personal loans up to Rs. 2 lakh in just 10 minutes. This personal loan amount can be used for any purpose such as vacations, weddings, or to start a business, etc.

Here are the main features of Paytm Instant Personal Loan:

You can get a loan of up to Rs. 2 lakh in just 10 minutes

  • The entire process is online, and you don’t need to visit any physical branch.
  • The loan tenure ranges from 3 – 36 months.
  • Loan interest is not disclosed on the website. You can only know your interest after completing applications.
  • The loan is transferred to your preferred Bank Account that you select during the loan application.

Paytm Instant Personal Loan has the following advantages:

  • You can get a loan of up to Rs. 2 lakh in just 10 minutes
  • The entire process is online, and you don’t need to visit any physical branch.
  • The loan tenure ranges from 3 – 36 months.
  • There are no Hidden Fees.
  1. CASHe Personal Loan App

It was established in 2016 and is a fantastic tool for preserving money during an emergency or financial crisis. V.Raman Kumar developed a formal credit system for young salaried individuals denied loans by banks and other financial institutions.

The online application process is extremely simple & can be completed in a few minutes. :

Instant Approval, just as the name suggests, gets approved within an hour. This loan is unsecured and has no requirement of any collateral or guarantor for Approval. The Loan ranges from Rs.1,000 to Rs.4,00,00. Here are some details about it.

Key Highlight of CASHe Personal Loan App

  • Instant Loan
  • Cost-Efficient
  • Zero Paperwork
  • No Restriction of Purpose
  • Minimum Loan amount Rs.1,000
  • Maximum Loan Amount Rs.4,00,000
  • You can also transfer part of your loan amount to your Paytm wallet.

Advantage of Cashe personal Loan App.

  • Instant loan without any collateral.
  • You take a maximum loan of up to Rs.4,00,000/
  • They have an entirely paperless application procedure.
  • There are no costs for going into foreclosure.
  • EMI terms from two to twelve months are available.
  • Service that is available 24 hours a day, seven days a week
  • You can apply for quick loans of 15, 30, 90, and 180 days duration.

The disadvantage of the Cashe personal Loan App.

  • It might take a few days for the papers to be verified.
  • You’ll be asked whether you have a decent credit score; if not, your application may be denied.
  • The interest rate is very high.
  • You need to have a minimum salary of Rs.12,000 per month.

App Store Details:

On the play store, it is rated 2.7 out of 5, which is very less when compared to other apps in the market. But still, this has a good number of downloads. This app is available for both Android. Almost all customer is complaining that processing time is more than 10 days.

Many customers have complained that the loan was approved but still not received money into a bank account.

Best For:

The best part is that they don’t overlook your credit history. It’s beneficial in cases where you need money urgently but would end up paying 36% interest annum.

So, it’s good when you need additional cash to make the most of your salary without waiting for many days.

But with a little patience and a very specific purpose, you can get a loan through this app. It is great for anyone who wants to pay the amount back in installments within one year

24. AnyTimeLoan – Instant Personal Loans

Anytimeloan was funded by AnyTimeLoan.in 2014. Anytimeloan is providing personal Loans for salaried people facing tough times due to cash crunch or emergency needs without any collateral security. So, you can apply for an instant Personal Loan via Anytimeloan easily. Here are some details about Anytimeloan.

Key Highlights of Anytime Loan

  • Approval within 1 hour
  • No Collateral required
  • The interest rate over 18% to 54%
  • Minimum Salary Rs 12,000
  • Repayment terms may range from 90 days to three years.
  • 100% digital process
  • maximum loan amount Rs. 50 Lakh.

AnyTimeLoan has the following benefits:

  • Approval within 1 hour
  • 100% Unsecured loans, no collateral needed
  • The interest rates are lower than 18% to 54% (depending on the loan amount)
  • Repayment terms up to 3 years.
  • 100% digital process
  • There is no need for a Credit score. All you have to do is satisfy their cutting-edge algorithms.

Here are the disadvantage of Anytime Loan

  • The interest rate is high, which can amount to a lot of money throughout the loan.
  • It may take a while to get the money into your account after Approval.

App Store Details:

The App Store rating is 1.9 out of 5. So, this app is not popular among people this app is available for both Android users. The customer who downloads this app may feel that the app’s interface is not easy to use. You won’t be able to register via this app.

Best For:

You may ignore this app or read all reviews given by customers on the google play store.

26. Bajaj Finserv-Loan

This app is one of India’s best instant personal apps, working with 12 000 partner outlets in over 150 cities.

This app is not for everyone; only people who have a decent salary and credit score should apply for this Personal Loan.

About Bajaj Finserv

About Sanjeev Bajaj- He is the Bajaj Group of Companies chairman. The main business areas are finance, insurance, two-wheelers.

App Features:

  • Loans of up to 25 lakhs without collateral.
  • Repayment Tenure: 12 to 84 months
  • The interest rate charged is 12% to 34%.
  • Processing Fees: Rs.500 to Rs.2,000

There are many advantages of using Bajaj Finserv Personal Loans. Some of these include:

  • Minimum Loan Amount: Rs.30,000
  • You can take a Maximum Loan Amount: Rs.25,00,000
  • The annual interest rate is low as 12%
  • You can update personal details smoothly on the app.
  • You may pay off your purchases with their 0% interest EMI card.
  • There is no need for any sort of security.

Some of the disadvantages of using Bajaj Finserv Personal Loans are:

  • You need to take at least Rs.30,000
  • Apps seem to be buggy all the time.
  • If you defaulted in EMI, then ready bear a higher penalty.

App Store Details:

The App Store rating is 3.9 out of 5. The interface of this app is very easy to use, where you can apply for a loan with just a few clicks on the button. Many customer reviews are given in the Google Play store that is positive. One negative review says you have to pay a high penalty if you defaulted in EMI.

Best For:

Only people who have a good salary and credit score should apply for this Personal Loan

27. LazyPay- Personal Loan

LazyPay is one of the most favorite apps in India, where you can apply for a Personal Loan. They offer instant loans ranging from Rs 10,000 to Rs 5 lakh and an interest rate from 12% to 25%.

Here are the main features of Lazypay

  • Minimum Loan Amount: Rs 30,000
  • Maximum Loan Amount: Rs 5 lakh
  • The annual interest rate is 12% to 25%.
  • One-time Approval for a lifetime of usage

There are many advantages of using LazyPay Personal Loans. Some of these include:

  • You can get online Approval in just three minutes
  • The interest rates are low
  • They have a simple EMI process.
  • You must pay interest only on the amount taken, not the whole amount granted.
  • No Security Required

Here are some of the disadvantages of using LazyPay Personal Loans:

  • You need to fulfill minimum formalities, so you cannot get the loan instantly
  • There is no support number to call.
  • Not available for all users.

App Store Details:

The App Store rating is 4.4 out of 5. People seem to be satisfied with their website, and reviews given by customers on the Google play store are positive only.

Best For:

People who have good credit scores should apply for this Personal Loan to get the money instantly

28. IDFC FIRST Bank – Loans Online

IDFC First Personal Loan is an app of IDFC FIRST Bank, where you can apply for a loan from Rs.50,000 to Rs.40 lakh with a processing fee of 3%, and the EMI tenure ranges from 12 months to 60 months. You can take a loan for any purpose like business, your wedding, vacation, or any other personal expenses.

Main features of IDFC first bank Mobile loan App:

  • Maximum Loan Amount: Rs 40 lakh
  • Tenure of Loans: 12 months to 60 months.
  • Interest Rate: 10.49% to 24%.
  • Loan processing fee: 3%

Advantages of IDFC first bank Mobile loan App

  • Affordable
  • Low-Interest Rates
  • You can take a maximum loan amount of Rs.40 lakhs
  • Simple process for loans, with a fixed repayment period of 12 months to 60 months
  • Automatic EMI Calculator
  • Eligible for all salaried individuals and self-employed professionals.

Some of the disadvantages of IDFC first bank Mobile loan App are:

  • It takes a lot of time to get the Approval for loans, where it takes three to four hours to get Approval.
  • The interface is not that easy to use on mobile devices.
  • Many Fraud complaints regarding EMI Payment.

App Store Details:

The App Store rating is 4.1 out of 5, where the main features and reviews on the Google play store are good.

Best For:

People who have a regular job and get a minimum salary should apply for this Personal Loan to get instant money

29. MobiKwik- Instant personal Loan.

If you want an instant Personal Loan, then MobiKwik is one of the best apps for this. This is because you can apply for a personal loan from Rs 10,000 to Rs 5 lakh instantly with no credit check required. Also, they have many branches across India, which makes it easier to visit their branch and apply for

Here are the main features of MobiKwik Instant Personal Loan:

  • Minimum Loan Amount: Rs 10,000 to Rs 5 lakh
  • Maximum Loan Amount: Rs 5 lakh
  • The interest rate ranges from 11% to 36%.
  • Physical verification is mandatory.

Advantages of MobiKwik- Instant personal Loan

  • Fast approval process
  • Usually, takes less than an hour to get the Approval of a personal loan.
  • No security and Nominal documentation are required.
  • Instantly available funds with EMI options up to 36 months or more as per the tenure you want to take to repay loans.
  • Spend anywhere you want, and repay the loan whenever you want.

Some of the disadvantages of MobiKwik- Instant personal Loan:

  • There is a processing fee of 2% to 3.5%.
  • The interest rates are high if you do not have good credit scores like 750 and above.
  • It takes more than 24 hours to get the loan approved.

App Store Details:

  • The App Store rating is 4.1 out of 5, where the main features that customers like are EMI options and no security required for loans.

Best For:

Individuals who do not have any security but need an instant Personal Loan should apply for this Personal Loan to get funds instantly

30. CRED Cash- Personal Loan

CRED Cash Personal Loan is an app of CRED. You can apply for a personal loan quickly and easily through this app. You can take loans from Rs 50,000 to Rs 10 lakhs with a processing fee of 1% to 2.5%. You need to be at least 21 years of age and earn Rs 15,000.

Main features of Cred Cash- Personal Loan:

  • Maximum Loan Amount: Rs 10 lakhs
  • Tenure of Loans: 1 year to 5 years.
  • Interest Rate: 12% to 36%.

Advantages of CRED cash

  • Instant Approval
  • Low processing fee of 1% to 2.5%.
  • No security and nominal documentation are required.

Some of the disadvantages of Cred Cash are:

  • You need to have a minimum 750 credit score.
  • Eligible to only CRED members.

What is an Instant Loan App?

Instant Loan App or Instant Credit is a digital application that enables you to avail instant loan at the push of a button. It provides the right amount of money to you within minutes and with maximum convenience. There are several advantages of applying for an Instant Loan, such as:

  • It takes no time for approval since it’s based on online documentation and a quick verification process.
  • You don’t need any collateral like property documents.
  • It is flexible and can be used according to your requirements. These benefits make Instant Loans one of the popular modes of borrowing. At present, many companies provide this service, and these days it has become very easy and convenient to get an Instant Loan. Now you can apply from anywhere, whether it’s a home, office, or even from your mobile phone.

How does an Instant Loan app work?

Instant loans are available for a period of 1 to 5 years, and the maximum amount that can be borrowed is Rs. 10 Lacs. Even if you have a bad credit score, you still may be eligible for a loan depending on the organization where you’re applying; however, interest rates will increase. Several steps should be followed while taking an instant loan:

  • You first need to apply online or send your request via email or SMS, which will generate an OTP (One Time Password), after which you must verify the OTP sent by the lender through IVR (active Voice Response). Once this is done, you have to fill an online form that requires only a few details about your bank account, address, and details of income.
  • You can expect a response from the lender within minutes. Instant loan is a doorstep service which means you don’t need to visit the office or stay there for hours on end for processing.
  • You will receive your cash in hand as soon as verification is complete. Usually, it takes 10 minutes to 3 days after submitting the necessary documents required for loan approval. However, some organizations process loans faster than others due to their experience and expertise in this field.

Why should you prefer Instant Loans?

The instant loan has become quite popular because of the quick and hassle-free process that makes it super easy for everyone who wants to take advantage of this mode of borrowing.

Since you are provided with the money in hand, it helps eliminate any delay in repayment and thus saves time to focus on other important things, which is why it is favored by most individuals.

The repayment period can vary depending on the lender but usually includes very low-interest rates so that customers have an easier time repaying their loan without any trouble. It might take a few days or weeks to get your paycheck deposited into your account, but after that, you will receive automatic reminders via SMS or email regarding your repayment dues which eliminates late fees for not getting back to them about the payment.

However, if there are some problems, then calling customer care can solve all issues related to Instant Loans. You are just one call away from direct contact with the lender’s support executive, who will offer you a solution.

Also, you can use your time to shop and compare rates from different companies, which will help save more money on interest rates and present a problem-free application process. It is one of the best ways to opt for the Best Instant Loan App so that there are no delays in getting cash at hand instantly.

In case if some people have credit issues, then instant loan offers them various options as per their eligibility. In such cases, lenders look for some guarantor or any co-applicant who takes care of the repayment of the loan without any default.

As technology has taken over our lives, it has also made many things easier, including applying for the Best Instant Loan App through digital means.

Why should you consider a personal loan?

There are many reasons to consider a personal loan. If you are looking for money to pay off your bills, to start or expand a business, to take care of home improvements or car repairs, or for any other purpose, lending is the best option that you may have.

Here is the list of reasons for taking a personal loan.

  • For paying bills like Electricity, Phone, Gas, etc.
  • For business purposes like buying equipment or inventory or any other purpose.
  • For house renovation or repairing work. e.g., bathroom fitting; kitchen; painting; electrical; plumbing and so on.
  • For Medical Expenses (Illness/ injury) not covered by insurance.
  • To start a new business idea that requires finance initially to kick it off.
  • To fund the education of your children in prestigious colleges/universities abroad. As the fees for these courses are very high and out of reach for most people, at times, you can take a loan for this purpose, too, instead of giving up your dream just because you do not have the means to achieve it.

Features and Benefits of Instant Loan apps.

In recent years, there has been an increased demand for instant loans in India – especially from younger people who don’t have much credit history of relying on when applying for a loan from a bank or other financial institution.

The lack of any formal documentation is often difficult to overcome when trying to get a personal loan, even with high salaries or assets that can be used as collateral.

This is where Instant Loan Apps come into play: they offer an alternative route through which you might borrow money quickly and easily – provided your application is approved! So without further ado, let’s take a look at some of the primary benefits of Instant Loans.

  1. Pay Instantly Online: With Personal Loan Apps, you can apply for a loan, get it approved and receive your money in as little as 1-2 days. That’s right – within a day or two, you could be borrowing cash on your cell phone! No more waiting weeks to hear back on your application or filling out piles of paperwork!
  2. Easy Application: There’s no need for extensive documentation either: if you have an active bank account and a steady source of income (preferably from 2 sources), then that’s all that is required to apply for this type of loan. All you need to do is provide some personal details regarding yourself and your employment status; then you’re done!
  3. Cash without Documentation: The lack of documentation is a big benefit for some people, particularly those who have good salaries but not good enough credit scores to access bank loans. You don’t need a perfect credit score or years’ worth of tax returns to get approved for an Instant Loan app! For the right type of customer, this is unmatched convenience indeed.
  4. Right from Home: Another great benefit is that you can apply for and receive your loan entirely from home – so long as you have an internet connection and a smartphone (or computer) on which to complete the application. A major advantage over most banks: with Instant Loan Apps, there’s no need to travel into town just to find out if you’ve been approved for a mortgage.
  5. No Collateral Required: A house, car, or other valuable asset is not required as collateral with this type of loan, which means that even unencumbered homes and vehicles may be used for security if you own them outright. This makes Instant Loan Apps an excellent option for people who need cash but don’t want to part with their property – and without providing personal guarantees either!
  6. No end-usage restrictions: It’s up to you how you use your money – so long as the expenses are valid and have a clear purpose. For example, if it’s for business purposes like buying equipment or inventory, then that is fine; but if the main reason you’re taking out an instant loan is to pay off existing credit cards, then this might not be allowed. ( case on case basis)

Personal Loan Eligibility Criteria through Instant approval App?

While it can be significantly easier to borrow money using instant loans, there are certain eligibility criteria that you must meet before applying.

  1. Age: You must be at least 18 years of age to apply, and the minimum age may vary from one app to another. 
  2. Income: You can’t have a bad credit history if you want to get approved for an Instant Loan App. You usually need a good source of income that comes from two or more sources – so having a regular job is important! However, many apps provide loans to bad credit history customers.
  3. Location: While some apps offer loans anywhere in India, some are only available for borrowers living in a specific city/state/region, etc. So it might be best to check with your preferred app first before proceeding.
  4. Monthly Income: You should have a regular monthly income of at least Rs. 8,000 to Rs. 50000 per month to apply for Instant Loan Apps.
  5. Mobile/Email Verification: To protect both consumers and the app provider, you will be required to complete some form of mobile or email verification upon applying for an instant loan app.
  6. Borrowing Capacity: Your borrowing capacity is generally determined by your salary; however, this may vary from one lender to another depending on their internal processes and requirements.
  7. Occupation:  Some apps are specifically for salaried employees or even certain professions. So it’s advisable to check the fine print of your instant loan app before proceeding.

Documents Required For Instant personal Loans Apps?

All major banks require some form of documentation when you apply for a personal loan – so this is usually the case with Instant Loan Apps as well.

  1. Identity Proof: You have to submit one primary identity proof document that includes your full name, photo, and signature (examples include Passport, PAN Card, Voter ID, etc.). If any name on your identity proof does not match the name on your bank account, then expect extra scrutiny! This is because many apps have been known to turn down applications if they don’t believe you are who you say you are.
  2. Proof of Address: At least one proof-of-address document is usually required, which can be a recent utility bill, bank statement, or rental agreement. Online rental payment services may also be accepted if they contain the requisite information and have been issued within three months of your application date.
  3. Income Proof: You have to provide details of all working members of the household who contribute to the income – so you might need their identity documents too. Income tax returns may also be required for certain applicants depending on the app’s requirements; however, this isn’t common practice yet as these are still fairly new in India (case by case basis).

Factors to consider while taking an instant loan from apps

Several Instant Loan Approval Apps provide fast loans with all paperwork and verification did digitally. However, the question is which one is the best since they all have similar terms and conditions and interest rates. Here are some of the factors to be considered while choosing the right Instant Loan App.

1) Reputation of the app provider

It is important to check whether the instant loan app you are applying for is authorized by any regulator. The Reserve Bank of India (RBI) regulates all banks and non-banking financial companies (NBFCs). So, know your lender or bank’s status before lending them money!

2) Ease of loan application process.

The entire process should be transparent and clear on your mobile phone screen. Some apps provide an easy breakdown of different kinds of loans, interest rates, etc., while others may not be as reliable. So always choose an app that you can trust to completely meet your requirements; every little detail counts!

3) Interest rates

Borrowers should always check the interest rate of their loans. Different companies have different lending policies, so make sure to go through them beforehand.

4) Fees associated with Instant Personal Loans Apps: Most apps won’t charge additional fees until completion of your application; however, there may be a small processing fee involved (check with your app provider). Check if they provide any cashback schemes or instant discounts on the final amount you pay back as well!

5) Repayment period: 

The repayment period of your loan plays an important role in determining the overall interest you need to pay for the entire tenure of the loan. Banks often provide short-term loans, while Instant Loan Apps generally offer longer repayment periods (up to 60 or even 90 days). So, carefully check your app provider about their terms and conditions before signing up.

6) Loan amounts: All instant apps allow borrowing amounts starting from Rs 10,000; however, some may only go up to Rs 5,00,000 – so make sure you have a clear idea about how much you can borrow beforehand. 

7) Security & EMI options: Most Instant Loans Apps allow borrowers to choose between a single installment or a monthly payment plan option.

8) Other benefits such as rewards points and offers: These can vary from one company to another, but it is best to look for an app that provides some added benefits in addition to your convenience! You never know when they might come in handy. 

Final Thought:

You should always take a loan only in case of emergency. If you can repay that, you would pay more interest than your principal amount.

With so many options available for instant personal loans, it’s easy to get carried away by the appeal and convenience without considering how much money they will cost in the long run. But there are also some benefits like quick approval time, which make these types of loans worth trying out at least once! But before signing on any dotted line, you need to know exactly what type of terms lenders offer (interest rates, repayment schedules) as well as their eligibility criteria (credit scores).

Remember this list when looking for an app; we hope one suits all your needs and budget requirements! If you find your favorite Best Instant Apps above isn’t listed, feel free to share its name in the comments below!

FAQ

  1. Is Instant Loan App safe?

    Yes. In some ways, it is very similar to other loans from professional lenders. However, instant approval loans tend to have higher fees and less room for negotiation regarding the repayment schedule. They also don’t require any paperwork or bank information from the borrower, which can be good because it prevents identity theft and fraud but could leave you in jeopardy if something happens during repayment that your lender doesn’t handle well.

    The app itself is run by professionals who deal with this type of thing every day. It has been designed to weed out scammers and poorly qualified borrowers, so it is safe from a borrower’s point of view.
    So overall, Instant Loan App is one of the safest ways to get an instant loan without doing a lot of paperwork. This means you can get your money fast with little hassle and walk away knowing that you didn’t sign up for anything crazy.

  2. What are the best features of the Instant Loan App?

    The best thing about Instant Loan App is that there are no hidden fees; you know exactly how much money has to be repaid. Also, the app guarantees 100% privacy, so you don’t have to worry about sharing information with creditors or even your family members, which is essential if you’re concerned about identity theft.

  3. Does Instant Loan App do credit checks?

    Yes, Instant Loan App reviews your credit score just like any other lender would. This is important because it determines whether you will likely pay back the loan in full and on time. Suppose the app sees that you have a bad or no credit history. In that case, they will automatically deny your request for an instant loan without even bothering to look at anything else about your application.

  4. Is there anything I can do if I’m denied?

    No, not really. Once you’re denied by the Instant Loan App, this usually means that you don’t have good enough credit for them to approve you for the amount of money that you requested, or perhaps you applied too late in the day after Instant Loan App’s cut-off point has already passed. Either way, if you’re denied a loan, you will have to wait until the next time Instant Loan App opens so that you can try again.

  5. Can I use my phone to apply with Instant Loan App?

    Yes, all you need to do is download the Instant Loan App app on your phone and log in with your Facebook account. It’s really simple!

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