The best personal loan apps in India are not that hard to find. All you need to do is research and find the best one for you.
There are many personal loan apps out there, but not all of them work for everyone. Some of them might have a better interest rate than others, or they may have a more user-friendly interface than others so people’s experience with those apps will vary depending on their needs and what they’re looking for.
This is the 11 best personal loan apps in India list has been created with the idea that it will be useful to people who want some help finding the best app for their needs and who want some help figuring out which one will work best for them.
11 Best Personal Loan Apps in India
| Loan App | Interest Rate (Per Annum) | Loan Amount | Get It |
| MoneyView | 24% | Rs. 10,000– 5 Lakh | Download App |
| Cashe Loan | 33.46% | Rs.1,000 – 4 Lakh | Download App |
| MoneyTap | 24.33% | Rs. 3,000 – 5 Lakh | Download App |
| Dhani App | 14% | Rs. 1,000- 15 Lakh | Download App |
| Kreditbee | 36% | Rs. 1,000- 1Lakh | Download App |
| LazyPay | 31% | Rs. 5,000 – 1 Lakh | Download App |
| Paytm | 15%- 30% | Rs. 10,000-5 Lakh | Download App |
| Faircent | 36.48% | Rs. 1,000-60,000 | Download App |
| Incred | 20% | Rs. 1Lakh – 15 Lakh | Download App |
| Truecaller | 16% | Rs. 10,000-5 Lakh | Download App |
| Simply Cash | 25% | Rs. 50,000-1.5 Lakh | Download App |
1. Money View
Money View is a new instant loan app that has been recently introduced in the market. The app is present on both iOS and Android platforms which makes it accessible to a large number of users.
Money view provides up to 5 lakh loans with a repayment tenure of 5 years.
To apply for an instant loan, you need to fill up the application form with some basic personal details like your name, email ID, phone number, etc. You can apply for a Money view loan without income proof.
| Loan amount | Rs. 5,000 – Rs 5 lakh |
| Loan tenure | 6 months- 5 years |
| Interest rate | 1.33% per month |
| Processing fee | 2% – 5% of the loan amount |
| Age Required | 21 – 57 years |
| Cibil Score | Yes |
| Eligible For | Salaried / Self Employed / Student |
2. Cashe
Cashe is a digital loan app platform that helps people get loans based on their social media influence. The platform gives borrowers the opportunity to get loans up to 2 lakh without collateral or credit history.
You will need valid KYC documents like Aadhaar Card, Pan Card, and Bank Account to apply for the loan.
Cashe is offering up to 6 months of loan repayment tenure.
| Loan amount | Rs. 9,000 – Rs 4 lakh |
| Loan tenure | 90 days – 1.5 years |
| Interest rate | 2.75% per month |
| Processing fee | 2% – 5% of the loan amount |
| Age Required | 23 – 58 years |
| Cibil Score | Yes |
| Eligible For | Salaried / Self Employed / Student |
3. MoneyTap Loan
MoneyTap is an app that lets you borrow money from the bank, in a few minutes. It’s available for use in India and it’s safe and secure. It has been designed to help people who need cash urgently but don’t have the time or access to go to a branch near them.
MoneyTap provides up to 5 lakh instant loans with a repayment tenure of up to 36 months.
MoneyTap can be used for small personal emergencies, such as paying for petrol when your wallet is empty or getting cash when you’ve left your ATM cards at home after a night out.
It is currently only available in India and not yet available in other countries around the world.
| Interest rate | 13-18% per annum |
| Loan Amount | Rs. 3000 to 5 lakh |
| Approval Process | Online |
| Loan Tenure | 2 months – 36 months |
| Eligibility Age | 23 years to 55 years |
| Source of Income | Salaried Person or Self Employed |
| Monthly Income | Rs. 20,000 per month |
| Processing Fees | 2% of the Loan Amount |
4. Indiabulls Dhani
Available for smartphones, the Indiabulls Dhani Instant Loan App Apply is a mobile application that provides customers with instant loans on their smartphones.
The Indiabulls Dhani Instant Loan App Apply is an innovative and customer-centric product, which offers instant loans.
Dhani provides up to 15 lakh loans with a rate of interest of 13.99% per annum.
| Loan amount | Rs. 1,000 – Rs. 15 Lakhs |
| Interest rate | Starting from 13.99% per annum |
| Repayment tenure | From 3 months – 24 months |
| Subscription fee | Rs. 125 – Rs. 1,500 |
| Processing Charges | 3% of the Loan Amount |
| Prepayment charges | Nil for loans below Rs. 20,000 & 5% thereafter |
5. Kreditbee Personal Loan
Kreditbee is a loan app for India. It provides loans from Rs.50,000 to Rs.2 lakh with a processing time of fewer than 60 minutes.
The Kreditbee app is currently live in the App Store and the Google Play Store and it provides instant personal loans to its customers.
The application process is simple and straightforward involving just four steps- enter details, upload documents, get approval and get money!
In Kreditbee’s case, the mobile phone makes it possible for them to offer quick approvals by making sure that all documentation is available on the customer’s device.
| Interest rate | 0% to 29.95% per annum |
| Loan Amount | Rs. 1000 to 2 lakh |
| Approval Process | Online |
| Loan Tenure | 2 months – 15 months |
| Eligibility Age | 21 years to 45 years |
| Source of Income | Salaried Person / Self Employed |
| Monthly Income | Not Required |
| Processing Fees | Up to 3% of the Loan Amount |
6. LazyPay Instant Loan
LazyPay Instant Loan App is a new company that aims to revolutionize the lending industry.
LazyPay is an online personal finance company that strives to make borrowing and lending easier. They offer loans of up to 1 lakh and the application process takes less than three minutes.
They do not require any personal information such as your Social Security number, credit score, or bank account information.
The company has partnered with multiple lenders and uses proprietary algorithms to determine which lender will provide you with the most favorable rates and terms based on your specific needs.
| Interest rate | 18% to 25% per annum |
| Loan Amount Income | From 10,000 to 1 lakh |
| Approval Process | Online |
| Income Required | Rs. 30,000 per month |
| Loan Tenure | 3 months to 24 months |
| Eligibility Age | 22 years to 55 years |
| Processing Fees | 2% + GST |
| Eligible For | Salaried Person / Self Employed |
7. Paytm Loan
The Paytm Instant Business Loan App is a unique product from Paytm, which is specifically designed to cater to the needs of small and medium enterprises.
Paytm is offering up to 5 lakh loans without any income proof.
The new version of this app allows borrowers to apply for an instant business loan instantly and then get their money in just 15 minutes.
Borrowers can use this service without any paperwork or hassle, it only requires a few taps on their smartphones.
They can also access the new feature ‘Pay Later, which means they can take the loan now and pay it later over any period of time they want.
| Interest rate | Up to 36% p.a. |
| Loan Amount | UP to 5 lakh |
| Loan Tenure | Up to 365 days |
| Income Required | NIL |
| Processing Fees | 2% of the loan amount + GST |
| Eligible For | Self Employed Businessman |
8. Faircent Pocket Loan
Faircent is an online lending platform that offers personal loans to individuals or entrepreneurs.
The company offers consumer loans from Rs. 1,000 to Rs.60,000 for a period of up to 6 months with a minimum interest rate of 36%.
The Faircent app is available on Android and iOS devices. You can download it by searching for ‘Faircent’ on Google Play Store or App Store.
You will need to enter your mobile number, name, email ID, and SMS verification code sent via SMS by Faircent within 24 hours of downloading the app before you will be able to use it.
| Interest rate | 36.48% per annum |
| Loan Amount | UP to 60,000 |
| Credit Score | Minimum 650 or above |
| Loan Tenure | From 3 months to 6 months |
| Eligibility Age | 21 years to 58 years |
| Income Required | Rs. 18,000/- Per month |
| Registration Fees | Zero |
| Eligible For | Self-Employed / Salaried Person |
9. Incred Instant Loan
Incred is an innovative platform for instant loans. Customers can get up to 15 lakh in less than 24 hours. The loan is approved on the basis of the customer’s credit score, income, and repayment track record.
The three major reasons why people need a loan are:
– Emergency expenses
– Financial emergencies
– Education loans
The first thing a potential borrower has to do is fill out a form with their personal information. They’ll be asked questions about their job, monthly income, current assets, liabilities, etc. This will help Incred assess their eligibility for a loan.
Once they have been approved for the loan, it will be transferred into their bank account immediately. This means that they can start using it as soon as they receive it.
| Interest rate | 18% to 20% per annum |
| Loan Amount | 1 lakh to 15 Lakh |
| Approval Process | Online |
| Monthly Income | Rs. 15,000 |
| Loan Tenure | 60 months |
| Eligibility Age | 21 years to 56 years |
| Processing Fees | 2% to 5% + GST |
| Eligible For | Salaried Person / Self Employed |
10. Truecaller Loan
Truecaller fast loans are the fastest way to get cash in your hands. The reason it remains the best option for millions is that it offers loans up to Rs 5 lakhs with no credit checks.
This company is offering a 16% rate of interest per annum with a repayment tenure of 36 months.
Your monthly salary should be Rs. 15,000 per month to apply for Truecaller Personal loan.
| Interest rate | 16% per annum |
| Loan Amount | From 10,000 to 5 lakh |
| Credit Score | Minimum 650 or above |
| Loan Tenure | From 3 months to 36 months |
| Eligibility Age | 18 years or above |
| Income Required | Rs. 15,000/- Per month |
| Processing Fees | Charged Dynamically |
| Eligible For | Self-Employed/ Salaried Person |
11. Simply Cash Loan
This section discusses the benefits of a SimplyCash Persona Loan of up to 1.5 lakh.
It is a great way to get money without any hassle. You won’t need to worry about your credit rating, any collateral, or guarantors if you qualify for this loan.
And with an interest rate of up to 25% per annum on this loan, you can save some serious money in interest on your other loans over the next few years.
| Interest rate | 2.08% per month or 25% p.a. |
| Loan Amount | From 50,000 to 1.5 lakh |
| Credit Score | Minimum 650 or above |
| Loan Tenure | From 6 months to 24 months |
| Eligibility Age | 21 to 58 years |
| Income Required | Rs. 15000/- Per month |
| Processing Fees | 2.5% + GST |
| Eligible For | Self-Employed/ Salaried Person |
Bottom Line
Different types of loan apps are offering instant loans but you should choose the right one. We provide the best thing about these loans is that they are very easy to get.
Most people can avail of this loan within 24 hours. The lenders provide the loan to the borrowers on their doorsteps without any hassle.
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