Best Instant Personal Loan Apps in India


Emergencies knock your door unexpectedly. Though it is not possible to get prepared for all kinds of exigencies, a good financial health can eventually help you overcome multiple life issues in a proactive way.

Being approved for Instant Personal Loans can indeed be an effective way out. You can straight away apply for loan through your mobile or laptop and get access to the required funds. However, in case you do not have a credit history or adequate credit score, alternative borrowing options like instant loan apps can come to your rescue.

25 Best Instant Personal Loan Apps in India 2021

Name Loan Amount Tenure Interest Rate (APR) Processing Fee


500 to 5,00,000

3 months to 36 months

11.99% - 59.99% p.a

0-10% (excluding GST)


Up to 1 Lakh

9 months to 24 months tenure

*No cost EMI plans



1,000  to 25,000

91  days to 120 days

20 % to 36% p.a.

Minimal % of the loan amount

Indiabulls Dhani
Indiabulls Dhani

3,000 - 3 Lakh

3 months to 24 months

Starting from 13.99% p.a.

Up to 3 % of the loan amount



interest-free credit term of 14 days

2% to 3% per month



Up to 5,00,000

2-36 months

Starting at 13% p.a

Up to 2% of loan amount;
Min: 199


1,000 to 2 Lakh

62 days to 15 months

Up to 2.49% p.m

Up to 6 % of loan amount; Min: 85


Up to 1 Lakh

3 months to 24 months

18 to 25% p.a

Up to 2 % of the loan amount


500 to 20000

Up to 3 months

3.5% p.m


Flex Salary
Flex Salary

4000 to 2 Lakh

Up to 3 years

up to 3% per month

300- 750


5000 to 5 Lakh

3 months to 60 months

16% to 36% (on reducing balance)

2.5% of the loan amount


9,000 to 3,00,000

62 days or 12 months

2.75% per month

1.25% to 2 % of the loan amount;
Min: 750 to 1200

Early Salary
Early Salary

5000  to 5 Lakhs

Up to 24 months

24% to 30% p.a

2% - 2.5% p.m.

299 for 10000 Loan

PayMe India
PayMe India

1,000 to 1,00,000

10 days to 31 days

1 % to 3.1% p.m



10,000 to 5 Lakh

up to 5 Years

Starting from 1.33 % p.m

Starting from 2% of the loan amount

Home Credit
Home Credit

25000 to 2 Lakh

6 months to 36 months

24.0% - 49.0% p.a.

0 % to 5 % of the loan amount


10,000 to 1,00,000

61 days to 90 days

0.1% to 1% per day


Loan Tap
Loan Tap

50,000 up to 10 Lakh

Up to 60 months

14% and 18%

2%+applicable taxes


Up to 1 Lakh

3 months to 12 months

1 % to 1.5% p.m.

3% of loan amount

Realme PaySa
Realme PaySa

8,000 to 10 Lakh

3 months to 60 months

24% to 30%


Mi Credit
Mi Credit

5000 to 2 Lakh

up to 36 months

16% onwards

1.99% + GST


1000 to 60000

3 months - 12 months

Up to 2.75% p.m



5000 to 1 Lakh

3 to 12 months.

2.0% to 3.0% per month, or 24% to 36% per year

Up to 2.0% of loan amount;
Min: 350+ GST


Up to 5 Lakh

Up to 12 months

2% to 2.5%


Bajaj Finserv
Bajaj Finserv

up to 25

up to 60 months

13% onwards

Up to 4.13 %




Some of the striking features of App Based Instant Personal Loans are:

  • Fast disbursal & instant access to cash. It helps you stay afloat & meet financial obligations in real time.
  • 100% paperless as you apply digitally through website or mobile app.
  • If you do not have desired credit score, other parameters such as social quotient are considered to check your Personal Loan eligibility.
  • In all, Instant Loans offer faster and easier financing for your immediate cash needs.

List of the Best Instant Personal Loan Apps in India

Here is the list of best Loan Apps to Get an Instant Cash Loan in India. You can choose one according to your eligibility and needs.



StashFin offer instant credit line up to 5 Lakh for up to 3 years i.e. 36 months.

Some of the striking features are:

  • Borrow as much you need. The loan is available for as low as 500 to 5,00,000.
  • As you register, you get rate quote within 15 seconds.
  • Loan approval in 4 hours.
  • Repayment ease. You can conveniently repay in equated monthly instalments (EMIs) online.
  • The rate of interest is as per the borrower's eligibility. It starts from 11.99% per annum.
  • Flexible tenure ranging from three to thirty-six months. Thus you can keep interest costs low by choosing shorter tenure.
  • The processing fee is nominal and there are no hidden charges.




ZestMoney is another app based lending app that allows you to borrow or shop online in easy EMIs. You can quickly borrow up to 1 Lakh without credit history.

The benefits and features are:

  • Borrow as quickly as in 5 minutes.
  • Quick loan up to 1 Lakh.
  • Repay ease with affordable EMI plans.
  • Having a credit score or credit history is not mandatory to qualify for ZestMoney Loan.
  • Earn 100% cashback on EMI repayments.
  • No foreclosure fee.
  • Get gift cards from online partners like Amazon, Flipkart, Makemytrip and Myntra.




SmartCoin App for Personal Loan offers small loans starting from 1,000 to 25,000 to professionals, executives and businessmen.

Features can be listed as:

  • Highly customised loans according to a borrower's needs.
  • Affordable short loan ranging from 91 days to 120 days.
  • Instant approval & disbursal through the app.
  • Processing is fast and hassle free.
  • The money gets in your account within 2 working days.


Indiabulls Dhani

Indiabulls Dhani

Indiabulls Dhani Loan App helps borrowers get access to Instant Personal Loan up to 15 lakh digitally.

The loan can be summarised as:

  • Tailored loan offering, starting from 1000 to 15 Lakh, as per customer needs.
  • Instant loans up to 3 Lakh for new customers.
  • Quick processing within a few minutes.
  • Choose tenure ranging from 3 months to 20 months.
  • Interest rate starts from 13.99% p.a.
  • Processing fee varies as per application and may cost up to 5% of the loan amount.




ePaylater can be termed as Instant Loan for online shopping. The app is offered by Arthashastra Fintech Pvt. Ltd. Here is how ePayLater works:

  • The app works on 'Buy-Now-Pay-Later' option.
  • You can purchase online using this app at fourteen-day interest free period.
  • Pocket size loans available in the range of 1,500 to 20, 000.
  • Earn discount coupons by paying out credit in time.




MoneyTap Personal Loan is one of the leading Personal Loan Apps. Both self-employed and professionals can make use of instant credit line facility up to 5 Lakh using MoneyTap App. 

Here is a quick summary of MoneyTap Instant Loan:

  • 100% digital and hassle free interface.
  • Minimum eligibility criteria including a minimum salary of 20,000.
  • To avail of loan through MoneyTap, create your profile on the app.
  • Next, upload documents.
  • Basis the information submitted, the app will assess pre-approved loan offers for you.
  • You get flexibility to borrow as per needs.
  • Repayments are flexible and affordable as you pay interest only on amount used.
  • You enjoy special offers & rewards on online shopping & digital transactions.




Kreditbee Personal Loan App is a go to cash solution for young professionals. You can realise your dreams by getting direct money transfer to your bank account.

Here is a quick look at KreditBee Instant Loans:

  • KreditBee is backed by partner NBFCs like KrazyBee Services Private Limited & others.
  • 100% digital loans, ranging from 1000 to 2 Lakh.
  • The app can be accessed all across India.
  • Loan is available in two variants:
    • KreditBee Flexi Personal Loan: 1,000 to 1,00,000
    • KreditBee Personal Loan for Salaried: 10,000 to 2 Lakh
  • Easy interface ensuring access to funds within 15 minutes in your bank account.
  • Interest rate goes up to 2.49% monthly on the principalProcessing can be as low as 85 for very small loans.




LazyPay is one of its kind lending app. You do not need to share your complete details in this to check the loan eligibility.

Here is a quick summary of LazyPay app:

  • Check loan eligibility entering your mobile number in the app.
  • Get access to instant loans up to 1 Lakh.
  • The best part is 15-day interest free window. This means you can borrow without any interest burden in first 2 weeks of loan.
  • Repay loan in easy EMIs. Tenor can range from 3 months to 2 years.
  • Interest rate starts as low as 18% p.a. For small loans, it will turn out to be even lesser.
  • The app claims sanction of more than a million loans each month.




mPokket is quick financing app for college students where  in they can get instant access  to Small Cash Loans up to 20000.

Some of the striking features of mPokket Personal Loan are:

  • Fast and easy to use interface.
  • Specially designed to cater urgent needs of students.
  • Typically small cash loans up to 3 months.
  • Rate of interest up to 3.5% p.m.
  • Low documentation required for loan sanction.
  • Quick loan disbursement.


Flex Salary


Flex Salary Personal Loan App offers easy loans for all professionals and salaried individuals working in metropolitan cities, as well as tier one and tier two cities.

Here are the highlights:

  • This is a kind of payday loan / credit line and thus applicants should only use it for very urgent needs.
  • Minim salary eligibility is 8000.
  • Flexible loans ranging from 4000 to 2 Lakh against your salary.
  • Repayment tenor is flexible and can go for a max of 3 years. It is recommended to keep tenor shortest possible.
  • The sanction and processing is fast & hassle free.
  • Processing is minimal and range from 300 to 750 flat.




PaySense is another popular app for online Instant Personal Loans. PaySense has partnered with IIFL and Fullerton for fast and easy Personal Loan processing in 40+ cities in India.

  • Get Instant Loan up to 5 Lakh.
  • Interest rate is affordable, starting at 16% p.a.
  • Choose tenure according to amount and repayment capacity.
  • Minimum monthly income eligibility for salaried is 12,000 per month and 15000 for self-employed individuals.
  • Documentation is minimal, including KYC and bank statements.
  • The loan is sanctioned and disbursed same day, within 5 hours.
  • You do not require credit score to apply for PaySense Loan.




CASHe is another powerful app to avail of Instant Personal Loans online. CASHe App is powered by NBFC Bhanix Finance and Investment Limited and uses Social Loan Quotient (SQL) to process the loan application. It is completely hassle free to assess your loan eligibility and apply for the loan/ creditline on this app.

Here are the highlights:

  • Download app from Google PlayStore.
  • Register with any of your social media profiles like Facebook, Twitter or LinkedIn.
  • This will make your social credit profile on the app.
  • You are also required to share details like name, age, mobile number, income details, and address in the Social Loan Quotient Calculator to evaluate the loan eligibility.
  • The loan can be borrowed for 9000 to 3 Lakh as per your needs.
  • The tenure is flexible and range from 62 days to 360 days.
  • You also get option to transfer a part of loan amount to PayTM wallet.
  • You also get option to opt for group insurance & income protection with your loan.


Early Salary

EarlySalary App

Early Salary is another easy-to-use app for Instant Cash Loan. The app is particularly popular with young salaried individuals who seek fast loans. Though there is a word of caution. It is a payday loan and should be used only for urgent short term cash needs up to 50 days. In long duration, interest costs can go really high.

  • Short loans as advance against next month's salary.
  • Loan amount can vary from 5,000 to 5 lakh, depending on eligibility of the applicant.
  • No repayment charge.
  • Tenor up to 24 months.
  • No credit history is required to use this app.
  • You can also make online purchases in EMIs on ecommerce websites like Amazon, Flipkart, and Big Bazaar.
  • Flat processing fee ranging from 299 for 10000 Loan to 2% of the loan amount above 10000.


PayMe India

Payme India App

PayMe India is another new age Fin-Tech company that raised US $2 million from a Singapore-based investor. The app offers instant term loans to salaried individuals as Early Salary Loan.

Here are the highlights:

  • The loan amount can range from 1,000 to 1,00,000.
  • Processing is fast and hassle free.
  • Processing fee is 300.
  • The loan should be repaid within 31 days.



MoneyView App

MoneyView is another popular app to avail of contact less Personal Loans digitally. All you need to do is download app and check your eligibility instantly. The app offers extreme flexibility of borrowing and repayment.

Here are highlights:

  • Borrow as per your needs. Avail of loan starting from 10,000 to 5 Lakhs.
  • Ease of repayment with tenure ranging from 3 months to 5 years.
  • Interest rates are attractive & range from 1.33% to 2.50% per month.
  • Processing fee varies from 2.5% to 4%.
  • The facility is available pan India.
  • 100% digital & paperless process.


Home Credit

Home Credit App

Home Credit is another easy-to-borrow app for people with no credit score and low income. Home Credit Personal Loan can be accessed in more than 150 Indian cities. Being a part of the International Home Credit Group, it has presence in over 10 countries in Asia and Europe.

  • The tenure of the loan will vary from 9 months to 4 years.
  • Borrow instantly for cash requirements up to 2 Lakh.
  • It is easy, transparent and hassle free to access loan from this app.
  • Minimum income requirement is 10000 per month.
  • Credit score or credit history is not mandatory for loan eligibility.
  • Minimum age to borrow is 19 years.
  • Highly customised offers available.



RupeeLend App

RupeeLend is part of Casinity Group and offers fast Short Term Loans in metro cities like Bangalore, Mumbai, and NCR. It is a Payday Loan i.e. advance salary loan and thus should be only opted for very urgent needs for very small term.

Here are the highlights of RupeeLend:

  • RuppeeLend App lets you borrow within two hours.
  • Existing customers can avail of loan within 10 minutes.
  • You can customise your loan as per specific needs.
  • Borrow max for 1 Lakh for 90 days.
  • There is no foreclosure charge.
  • Processing is fast and paper less.


Loan Tap

Loan Tap App

Loan Tap is one of the most popular Instant Loan Apps. You can borrow a host of products ranging from Two-Wheeler Loans to Flexible Personal Loans, to Term Loans of your choice online using LoanTap App.

  • Flexible repayment options such as EMIs, accelerated instalments, and bullet repayment.
  • Borrow from 50,000 to 10,00,000 for up to 5 years.
  • Ease of application and simplified processing.
  • Minimal documentation ensures fast disbursals.
  • Flexible & accelerated pre-payment option after 6 months.
  • Currently LoanTap can be accessed in all major cities like Bangalore, Hyderabad, Chennai, Coimbatore, Mumbai, Pune, Ahmedabad, Vadodara, Raipur, Bhopal, Indore, Jaipur, Delhi-NCR and Chandigarh.



Credy App

Credy Personal Loan can be availed of in major cities such as Bangalore, Chennai, Pune, Mumbai, and Hyderabad. It is a Short Term Personal Loan.

Let's find out more details:

  • To be eligible for Credy Loan, applicant should earn at least 15,000 per month.
  • Loan tenure can vary from 3 to 12 months.
  • Loan amount can range from 10,000 to 1,00,000.
  • It is extremely hassle free to apply for loan via Credy app.
  • The app offer safe and transparent interface for fast & affordable Personal Loans.


Realme PaySa

Realme PaySa App

PaySa is a digital lending app powered by smartphone maker Realme. The app also works in partnership with EarlySalary, and provides instant Personal Loans to salaried individuals.

  • Borrow instant loan up to 10 lakh.
  • The loan can be availed for 5 years.
  • Rate of interest start from 2% per month.
  • You can use the app for a host of financial products like Personal Loans, Business Loans, Free Credit Reports, and Mobile Screen Insurance.


MI Credit

MI Credit App

MI Credit is the Personal Loan app backed by the well known smartphone maker Xiaomi. The company has several tie-ups with financial institutions for Instant Personal Loans.

  • Borrow up to 2 lakh for 3 years.
  • The rate of interest starts from 16% per annum.
  • Fast and paperless processing.
  • Also get free credit reports and financial advice.
  • Rate of interest and processing fee are competitive.


Cash bean

Cash bean App

Cash Bean offers instant cash loans up to 60000 for your urgent needs. Borrowing is as simple as ordering pizza online.

Here are the steps involved:

  • Download app.
  • Share personal details and check your eligibility.
  • Credit history is not mandatory to apply.
  • Borrow as per needs.
  • Process is 100% digital and paperless.
  • Available across India.



Nira App

Nira Personal Loan app is powered by Federal Bank and thus offers a safe and reliable interface to borrow for urgent needs.

  • Credit line up to 1 Lakh.
  • Rate of interest rates vary from 1.50% to 2.25% per month
  • In-principal approval in 3 months.
  • Top-up for existing loan available.
  • The app aims to offer easy loan to first time borrowers.
  • Based in Bangalore, NIRA app is soon expected to expand operations pan India.



Mobikwik App

Mobikwik is another new age app to avail of instant 500000 loan in your wallet. You can access through your smart phone or website.

Summary of using this app is as under:

  • Download app & share details.
  • Instantly check preapproved limit up to 5 Lakh
  • Minimal documentation required.
  • Repay within 12 months as per convenience.
  • Rate of interest is also competitive.


Bajaj Finserv

Bajaj finserv App

Bajaj Finserv app allows you to borrow high-ticket Personal Loans within 24 hours. All you need to do is share Adhaar number and social profile to check eligibility.

Some features are:

  • Hassle free and convenient Personal Loan up to 25 Lakh.
  • Share your Aadhar Card and Social Media profiles
  • Share the first 6 digits of Credit Card for more deals.
  • Fast processing and approval.
  • Interest rates are highly competitive.
  • Shop & enjoy deals at partner outlets like HomeTown, HomeStore, Helios, etc.

Documents for Instant Personal Loans through Apps

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 smart phone. Furthermore to service maximum customers, most of these loan apps allow customers to borrow with no or very low credit score. However they evaluate the credit scoring based on customer's social profile and other personal factors.

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

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


✅ How to get instant Personal Loan in India?

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.

✅ How do Instant Loan App works?

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.

✅ Which is the best Instant Personal Loan App?

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.

✅ Which app gives fastest Personal Loan?

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.

✅ How to repay your instant 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.

✅ Which app gives loan to students?

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.

✅ Which app gives Instant Loan to salaried?

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.

✅ Which app is best suited for Instant Business Loans?

Business owners with urgent small cash needs can access Rupeelend, ZipLoan, CASHe, Smart Coin, and Realme Pay Sa for instant loans. Register on these apps to access eligibility for your profile. The loans are disbursed the same day. For big ticket requirements, traditional Business Loans from banks and NBFCs are recommended.

✅ Should you apply for Personal Loan through apps or banks?

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.

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