Top Instant Personal Loan Apps in India with Low Interest Rate

Introduction to loan apps

The growing dependency on digital platforms for our everyday needs has indeed transformed the lives of many around the world and given rise to apps for untapped niche segments. As a result, apps have become part and parcel of our lives, giving us a facile means to access information, communicate and bond with friends and family, and stay organized.

One such boon is the instant loan apps that can provide easy-peasy means to get personal loans with a few clicks on your phone. Digital financing is becoming the new norm in today’s rushing world, especially in our country with the booming fintech space. The reason is instant loan apps are making banking and investing more accessible than before. With just a mobile phone, without a need to visit banks or have a desktop, you can continue your financial journey by using instant loan apps.

In addition, the apps allow you to access lending services without depending on a bank or other traditional financial institution.

In India, instant loan apps give you an immediate, paperless, and hassle-free way to quickly access funds to follow your dreams or support you during a financial emergency. In this article, we have a list of the twelve best instant loan apps in India that have taken the financial arena by storm and are shifting how young Indians borrow.

 

App Name	Rating	Downloads	App Url	Highlight	Tentures	Annual Percentage Rate
Bajaj Finserv: UPI, Pay, Loans	4.5⭐	50M+	Playstore link	✔️The Bajaj Finserv app is your one-stop shop for all your financial needs. From bill payments to loan applications, you can do it all in a few clicks. ✔️Get access to exclusive offers and discounts on personal loans, credit cards, EMI cards and more. ✔️ Enjoy the convenience of paying bills, mobile recharge and shopping from the comfort of your home.✔️Securely manage your Fixed Deposit investments with ease.	12 to 84 months	12% to 34%
CASHe Personal Loan App	4.3⭐	10M+	Playstore link	✔️Get access to quick and easy personal loans with the CASHe app. ✔️With just a few taps, you can get instant loans starting from Rs 1,000 to Rs 4,00,000. ✔️The intuitive one-page app layout makes it easy to apply for a loan and get the money transferred to your bank account instantly.	3 to 18 months	30.42%
Fibe: Personal Loan Online App	4.4⭐	10M+	Playstore link	✔️Get the funds you need in no time. Our Instant Personal Loan feature ensures you never miss out on life’s opportunities. ✔️Check your eligibility within the app and get instant approval with minimal documentation. ✔️Get complete value for money with our easy application process and quick approval. Go ahead and get an Instant Personal Loan today!	3 to 24 months	28.58%
PayMe: Quick Personal loan app	3.9⭐	5M+	Playstore link	✔️Get instant access to a loan of up to Rs. 2 Lakh with minimal processing fees and maximum APR ranging from 18% to 75%. ✔️Enjoy the convenience of a one-page app layout and fully mobile compatible experience. ✔️Enjoy flexible repayment options with EMIs starting from as low as Rs 945.6 for a loan amount of Rs 10,000 over 12 months.	12 to 60 Months	from 11.99%
Instant Approval Personal Loan Indialends	4.0⭐	5M+	Playstore link	✔️IndiaLends is the ultimate online marketplace for credit products. Get your free credit report and access to a range of credit cards and personal loans from different Banks and NBfcs.✔️Enjoy instant personal loans with most products being fully digital.✔️Rely on IndiaLends’ team of credit risk professionals and data scientists with multiple years of experience to provide you with technology, data, and credit analytics solutions along with a loan management platform.	6 to 60 months	10.25% to 25%
Instant Personal Loan App Finnable	4.5⭐	1M+	Playstore link	✔️Get access to quick and easy personal loans with Finnable. ✔️,With our NBFC license from RBI, you can trust us to provide secure and reliable services. We offer loans starting from ₹ 50000 up to ₹ 10,00,000 with low credit score eligibility.✔️Loan process hassle-free and fast, so you can get the money you need in less than 30 minutes. ✔️Once approved, your loan amount will be transferred directly into your bank account within minutes!	6 to 60 months	21.97% to 27.6%
KreditBee: Quick Personal Loan	4.5⭐	10M+	Playstore link	✔️Get instant access to funds with KreditBee. With loan amounts ranging from ₹1,000 to ₹4,00,000 and interest rates starting at 0%, you can get the money you need in no time. ✔️Enjoy a hassle-free experience with KreditBee. Get your loan approved in 10 minutes and get the amount directly in your bank account. ✔️Whether you are salaried or self-employed, KreditBee has something for everyone. Choose from tenures of 3 to 24 months and APR range of 0 to 70%.	62 days to 24 months	0 to 70%
Money View: Personal Loan App	4.7⭐	10M+	Playstore link	✔️Get instant personal loans starting from ₹10,000 up to ₹5,00,000 in just a few minutes with the Moneyview Loans App. ✔️Enjoy competitive Annual Interest Rates (APR) ranging from 16% to 39%. ✔️Choose from a wide range of flexible EMI repayment plans starting from 3 months & going up to 5 years. ✔️Enjoy low processing fees and no additional fees with GST included. ✔️Get your loan disbursed within 24 hours!	3 months to 5 years	16% to 39%
MoneyTap	4.0⭐	10M+	Playstore link	✔️Perfect solution for salaried employees who need access to quick and easy credit. Get approved for a credit line of up to ₹5,00,000 with interest rates starting from as low as 12%. ✔️Pay interest only on the amount you withdraw from your balance. No more worrying about hefty EMIs or hidden fees. ✔️Enjoy the flexibility of having a line of credit that can be used as and when needed. Get instant approval with minimum salary requirement of just ₹30,000 per month!	3 to 36 months	12% to 36%
mPokket: Instant Loan App	4.4⭐	10M+	Playstore link	✔️ Get instant personal loans starting from ₹500 up to ₹30,000 with mPokket, the best loan app trusted by more than 1.5 crore Indians. ✔️ Our process is completely online and secure, so you can get your loan approved in just a few minutes with the amount getting credited to your bank account instantly. ✔️ Whether you are a salaried professional or student, mPokket has got you covered with its easy and hassle-free loan application process. Download now and get started!	61 days to 120 days	24 %
PaySense: Personal Loan App	3.4⭐	10M+	Playstore link	✔️Get access to India’s top-ranking personal loan app with over 10 million happy customers. ✔️Enjoy flexible EMI options, zero collaterals, and affordable interest rates from ₹5,000 to ₹5,00,000 with an Annual Percentage Rate (APR) between 16% to 36%. ✔️ With a presence in over 500+ cities in India, PaySense is one of the most secure and simple ways to get a quick online loan from the comfort of your home.	3 and 60 months	16% to 36%
Personal Loan App – RapidRupee	4.2⭐	1M+	Playstore link	✔️Get access to instant personal loans from ₹ 1,000 to ₹ 60,000 with terms ranging from 61 to 365 days. ✔️Enjoy maximum APR of 35.9% which includes interest rate plus fees. ✔️Approval in just 30 mins at any time ✔️Processing fee starts at just ₹ 349 with no membership or upfront fees.	12 months	12%

Bajaj Finserv: UPI, Pay, Loans

App’s features

• The app is a secure platform to ease your bill payment modes and effortlessly manage all your financial needs or relations. Using the app, you can apply for a personal Loan, EMI card, or RBL Credit Card, pay bills, recharge your mobile, get insurance, open fixed deposits and shop at your favourite outlets.
  
• You can use the app to choose the best-prepaid plan and recharge your mobile for all top operators like Vodafone, Reliance Jio, Airtel, BSNL etc., through UPI payment and Wallet. Complete your DTH recharges for top billers like Tatasky, Airtel DTH, Jio Fiber, Videocon D2H, Sun Direct TV, etc. Additionally, the app can be used to make all your utility bill payments, get cashbacks and get it instantly credited to your Bajaj Finserv app wallet.
  
• Enjoy a tension-free shopping experience on the app by paying as easy EMIs and apply online on the app to get an EMI Card to pay all your EMIs online. You will get access to the latest deals and offers. Digitalize your card to get access to your EMI Card limit.
  
• Apply online and get the Bajaj Finserv Co-brand credit card in three simple steps to pay your credit card bills and download statements through the app. At zero interest charges, you can withdraw cash for up to 50 days, win reward points on each spend and many more benefits with the RBL or DBS credit card.
  
• The app provides various investment options, such as Fixed Deposits, Mutual funds & Systematic Deposit Plans (SDP) at special interest rates for senior citizens’ fixed deposits. In addition, use the app to get life, health, or vehicle insurance in just a few clicks.

 Instant Personal Loan details

• You can get an instant personal loan from Rs. 30,000 to Rs.25 lakhs and get it quickly approved on the app.
  
• The instant personal loan can be taken by professionals & self-employed individuals, which is available at minimal documentation and affordable interest rates.
  
• The loan repayment tenure ranges between 12 to 84 months for an APR of 12% to 34% and for processing fees of ₹500 to ₹2000 (note: the interest rate and processing fee may vary as per the products).

CASHe personal loan app

App’s features

• CASHe is a popular personal loan app that is the go-to place for many salaried professionals. The app provides instant personal loans for up to four lakhs which will be instantly credited to your bank account. At the time of loan disbursal, the PF and GST will be deducted upfront.
• The app provides utmost data security through a secure loan application process that will transfer data over secured connections, and the transactions will be secured using 128-bit SSL encryption.
• The app offers a quick, intuitive and hassle-free experience by adhering to RBI’s Fair Practice Code and promising to promote best practices in digital lending. With more than fifteen million users, the app lets you experience a novel way of borrowing.
• The app’s credit line allows multiple loans with a single approval. Apply for a credit line with one year tenure, minimal documentation, and instant approval for emergency or shopping needs.
• Use the app’s ‘buy now pay later’ feature to get shopping loans you can pay as easy EMIs at zero interest. You can use it to shop with merchants like Myntra, Amazon, Big Basket, Flipkart, Apollo, Uber, and more.

Instant personal loan details

• Only salaried individuals aged 21 years old and above, with a minimum monthly salary of Rs. 12,000, are eligible to take this loan.
• The app offers different types of personal loans that you can choose from once you clear the personal loan eligibility criteria.
• The APR for the instant loan is 30.42% for a repayment tenure of three to eighteen months. The processing fee for CASHe 540 is 3%, CASHe 180, 270, and 1 year is 2%, and CASHe 90 is at 1.5%. The app’s NBFC and partner banks are Bhanix Finance and Investment Limited.
• The instant personal loan amount is from Rs. 1,000 – Rs. 4,00,000. The loan application and disbursal process is paperless and online and does not ask for guarantors or collaterals.
• The loan repayment tenure is more than three months without any foreclosure charges and the loan will be instantly credited to a bank account. In addition, you can repay the loan through various flexible payment modes.
• Experience tension-free online shopping at no cost EMI. Get the amount you need using the CASHe loan app, which is easy to use, check your personal loan eligibility and apply instantly. You can get an instant personal loan for up to Rs. 4,00,000 online or get a credit line using the CASHe app.

Steps to get an instant loan on the app

• After you install the CASHe app, you can log in and register using your social media account.
• Fill in the necessary details to know your personal loan eligibility, submit the KYC documents and then apply for the instant personal loan.
• You will need your PAN card, Address proof, ID proof, Aadhar card, three months’ bank statements with salary credit, and a photo for the loan application. After the application is approved, the loan amount will be directly transferred to your bank account.

Fibe: personal loan online app

App’s features

• Fibe is the first instant personal loan app in India owned by Social Worth Technologies Private Limited that facilitates lending services primarily through the in-house RBI-registered NBFC, EarlySalary Services Private Limited.
• The app is one of the most trusted loan apps, with over four million loans worth Rs. 10,000 crores lent to more than five lakh happy customers.
• Fibe is one of India’s leading online instant loan apps that focuses on young and aspirational consumers. It makes lending and investment accessible to the mid-income group by hosting an array of financial products like long-term Personal Loans, short-term Instant Cash Loans, buys now pay later plans, and more.
• The app provides a 100% online loan application process, so the approval and money disbursal is completed at the soonest possible. In addition, the app is ISO/IEC 27001 certified and is PCI DSS compliant to ensure data security.
• Once you check your eligibility criteria, you can apply and get a personal loan instantly for all your urgent or shopping needs in no time. The app’s application and approval process is simple, with minimal documentation.
• The app’s lending partners are Aditya Birla Finance Limited, Early salary Services Private Limited, Vivriti Capital Limited, Northern Arc Capital Limited, Incred Financial Services, Piramal Capital and Housing Finance Limited, and Kisetsu Saison Finance (India) Private Limited.

Instant personal loan details

• Use the app to get a loan amount from Rs. 8000 – Rs 5,00,000 in a matter of minutes for a repayment tenure of 3 to 36 months.
• The app follows paperless and hassle-free loan approval and disbursement without any collateral and pre-closure charges to give you a seamless experience.
• Only salaried individuals above 21 years and with a minimum monthly salary of Rs.15,000 are eligible for the loan.
• The loan interest rate starts at 2% per month, and the processing fee is at 3% of the loan amount for an APR ranging between 16.75% to 74%, with zero pre-closure charges.
• Bounce charges and late payment charges of Rs. 500 are applicable as per the overdue amount. Late payment charges ₹ 500 or 3% of the loan amount, whichever is higher than the per overdue amount. And the stamp duty is at 0.1% of the loan amount, and rejection charges of Rs. 250 + GST.

Steps to apply for the instant personal loan

• The documents required for the loan are PAN, Aadhar card, and three months’ salary account statement.
• After you download and log in to the app, fill in the basic details and, upload the necessary documents, choose a suitable loan amount and tenure.
• Once the loan application is approved, within ten minutes, the loan amount will be transferred to your bank account.

 PayMe: quick personal loan app

App’s features

• PayMe is another popular online personal loan app in India, using which you can apply for a loan up to Rs. 2,00,000. The app helps millions of Indian customers to get a quick loan with a low processing fee of up to 10%.
• Use the instant personal loan from PayMe to meet your financial needs, such as education fees, medical emergencies, wedding expenses, home renovation, shopping, travel expenses, and more.

Instant personal loan features

• You can get a personal loan ranging from Rs. 2000 to Rs. 2,00,000 for a repayment tenure of three to twenty-four months with flexible repayment options.
• The loan application and approval process is 100% paperless and quick, without foreclosure or pre-part payment charges.
• Without any collateral-free, you can get the loan at an APR ranging between 18% to 75%. You can also convert your short-term personal loan to an EMI model.
• You must be between 18 years to 56 years old Indian citizen with a minimum monthly salary of Rs. 15,000 and work experience of six months. And to get a small loan online, your minimum CIBIL score must be 650.
• To apply and avail of the loan, you will need Aadhar, PAN, bank statements, and e-sign on application with your registered mobile and OTP for fast-track application.

Steps to apply for the instant personal loan

• You can log in and register with your mobile number or mail ID, fill in the required details, and upload the required documents like (PAN, identity proof, and bank statement).
• After your credit limit is assigned, e-sign the agreement. Your loan amount will be instantly credited to your bank account once the approval process is completed.
• The app’s lending partners are Transactree Technologies Private Limited, Payme India Financial Services Private Limited, Pinnacle Capital Solutions Private Limited, Mamta Project Private Limited https, NDX P2P Private Limited, and Finkurve Financial Services Limited.

 IndiaLends: Instant approval personal loan

App’s features

• IndiaLends is an online platform for credit products that offer free credit reports, different types of credit cards and personal loans from banks and NBfcs. In addition, the app provides instant personal loans through a completely digitalized process.
• The app, which is associated with more than fifty credible banks and NBFCs, chooses the most-suited one that can offer a low-interest rate and quick approval based on your loan eligibility.
• The app also provides financial institutions with technology, data, credit solutions, and loan management support. The app is managed by experts belonging to credit risk and data science with experience in consumer credit.
• Use the app to get over forty credit card suggestions to choose the one that best suits you. Some well-known credit card providers associated with the app are ICICI Bank, American Express, SBI, HDFC Bank, Kotak Mahindra Bank, Citibank, RBL and Yes Bank.
• At the IndiaLends app, you can also check for free your credit or Cibil score and get a detailed credit report and tips to improve your score. In addition, using the app’s latest feature, you can refresh your credit report and understand why your credit score has changed.
• The app’s EMI calculator is simple to use and comes in handy to calculate your EMIs, by just entering the interest rate, tenure and loan amount to get the most suitable EMIs.

Instant personal loan details

• The app offers personal loans up to Rs. 25,00,000 at an APR starting at 10.25% to 25% for a repayment tenure ranging between one to five years. However, note that the interest rate may vary depending on the customer’s credit eligibility.
• The eligible age limit to get the loan is between 18 and 60 years, and one must be a salaried or self-employed individual with a minimum monthly income of Rs. 10,000.
• If you are a working professional, then a minimum work experience of six to twelve months and at least three years for a self-employed individual.
• The app’s lending partners are Clix Capital Services Private Limited, Kisetsu Saison Finance India Private Limited, Piramal Capital & Housing Finance Limited, Axis Bank Limited, InCred Financial Services Limited, and L&T Finance Limited.
• Remember that the processing fee can vary from 1.5% – 6% and are subject to change from time. And in case of delays or non-payment of EMIs, an additional or penal charge may also be charged, depending on the lender’s policy.

Finnable instant personal loan app

App’s features

• The Finnable app has its presence in more than sixty cities and is one of the fastest-growing instant loan apps for a salaried individual. The app is an NBFC-licensed Fintech by RBI that aims to make instant online personal loans accessible to more people in less than 30 minutes.
• Even those with low credit scores can avail of loans using the app’s paperless and digitalized loan approval process. Moreover, you can choose the flexible EMI mode to pay back without any pressure.
• In addition, the app does not have any hidden charges and makes the loan process as transparent as possible. Finnable is one of the few loan apps that do not ask for collateral or guarantors at the time of availing the loan.
• The app has partnered with RBI-regulated NBFCs and Financial Institutions and follows policies and services that are regulated and legally compliant. The bank’s lending partners are Finnable Credit Pvt Ltd, DMI Finance Pvt Ltd, Northern Arc Capital Ltd, Vivriti Capital Pvt Ltd, Utkarsh Small Finance Bank Ltd, and TVS Credit Service Ltd.
• Finnable app prioritizes users’ safety through standard security checks and maintains confidentiality of the user’s personal details. Our app may ask permission for your SMS, location, camera, and media access to function optimally.

Instant personal loan details

• You can get personal loans starting from Rs. 50000 to Rs. 10,00,000, as per your credit approval. After the loan is approved, the amount will be directly transferred into your bank account within minutes. The app does not have any conditions linked to your CIBIL score for loan approval.
• The loan repayment tenure is between six to sixty months for an APR of 27.6%. You must be a salaried Indian citizen with a minimum monthly income of Rs. 15,000 to avail of the loan. 
• The borrower must be employed full-time in a private or government sector job with six months of work experience and should have a valid PAN, Aadhaar card, and three months’ salary statements.

Steps to apply for the instant personal loan

• Download and register in the app using a secure OTP. Keep all the necessary documents to be uploaded ready. 
• Give details of the loan amount required, net monthly salary and other EMIs.
• Once the KYC verification is done, your profile will be ready, and you must validate your address with pin code verification. 
• Then, select the amount and repayment tenure and submit the bank details.

KreditBee: quick personal loan app

App’s features

• KreditBee is a popular online instant personal loan app trusted by more than fifty million Indian users. You can instantly get personal loans at attractive interest rates and enjoy a hassle-free experience.
• Use the app to apply for an instant personal loan and get the amount transferred directly to your bank account within minutes. You can be a salaried or self-employed individual, yet the loan approval takes a few minutes to be disbursed.
• The app’s key highlights include the paperless, online and transparent process and convenient and flexible repayment options and interest rates (of 0% to 29.95% per annum) that make the app the most suitable platform for all your loan requirements.
• The app is available in both English and Hindi and is associated with RBI-certified NBFCs or banks to guarantee the safety and security of its customers. The loan can be used for all purposes like financing a large purchase, education, shopping, short or long domestic or international trips, emergency home repairs or medical bills, wedding expenses, or debt consolidation.
• The app’s lending partners are Krazybee Services Pvt. Ltd, IIFL Finance Ltd, Incred Financial Services Ltd, Vivriti Capital Pvt. Ltd, Northern Arc Capital Ltd, MAS Financial Services Ltd, Cholamandalam Investment & Finance Company Ltd, PayU Finance India Pvt. Ltd, Poonawalla Fincorp Ltd, Piramal Capital & Housing Finance Ltd, Kisetsu Saison Finance (India) Pvt Ltd, and Mirae Asset Financial Services (India) Pvt. Ltd.

Instant personal loan details

• Use the app to get a personal loan from Rs. 1,000 to Rs. 4,00,000 at interest rates of 0% to 29.95% p.a; for a three to twenty-four months repayment tenure. The APR can range between 0 to 70% with low transaction fees and with an EMI option.
• The app provides the most straightforward loan application and a quick online loan approval process at low-interest rates, which takes just ten minutes for the loan amount to be disbursed. In addition, you can manage and repay the loan through easy EMI mode.
• The different types of loans offered include flexible personal loans for a repayment tenure of three to ten months for a loan amount of Rs. 1,000 to Rs. 50,000, personal loans for salaried individuals for a flexible repayment tenure of 3 to 24 months for a loan amount of Rs. 10,000 to Rs. 4,00,000, and loan for self-employed from Rs. 10,000 to Rs 1,50,000 with a flexible tenure of 3 to 12 months.
• You can avail of a loan by providing a PAN card, address proof & salary proof to avail of the loan. The app also offers a tension-free shopping experience with its Purchase on EMI feature, using which you can shop from over two lakh online outlets for a wide range of products and pay as easy EMIs without any processing fees.
• To be eligible for the loan, you must have a steady monthly income of 21 years and above and be an Indian citizen.

Steps to avail of the instant loan

• Download the KreditBee app and log in using your mobile number. Provide your PAN number to check your eligibility and upload the necessary documents for KYC, including your address proof and verify your profile.
• Choose the loan amount and repayment tenure and provide your bank details to get the amount transferred directly to your bank account.

Money View: personal loan app

App’s features

• The app has been extending its loaning services to more than 5000 locations across India and is available in English, Hindi and eight other languages.
• The app’s lending partners are Rbi-authorized and regulated NBFCs/Financial Institutions, which include DMI Finance, Fullerton India, IDFC First Bank, WhizDM Finance, Aditya Birla Capital, Northern Arc, Western Cap, Clix Capital Services Pvt Ltd, Kisetsu Saison Finance (India) Pvt Ltd, Credit Saison India and more.
• The app’s security systems are designed to be at par with the other best banks in the country, and the app uses 256-bit encryption for data management and to ensure that all your data is safe and secure.
• The app has more than one crore trustworthy users from across the country to experience the app’s customized credit model that gives the best offers regardless of your credit score. You will be glad that there are no hidden charges or other surprises at the time of loan approval, and the entire process is transparent and easy to apply.
• You can choose to repay the loan as easy EMIs for a repayment period of three to sixty months at your convenience. Moreover, the loan application and approval process is entirely paperless and hassle.

Instant personal loan details

• The money view app grants instant personal loans starting from Rs. 10,000 up to Rs. 5,00,000 at an APR that ranges between 16% to 39%, and you can choose from a wide range of flexible EMI repayment plans that start from three months to five years. The processing fee is between 2% – 8%.
• The personal loan is available for salaried and self-employed individuals with a minimum CIBIL score of 600 or Experian of 650. And the eligible age limit to apply for the loan is 21 to 57 years, with a steady monthly income in your Bank A/c.

Steps to apply for the instant personal loan

• Download the app and register. Then give your standard details to check your eligibility criteria, which is done within a few minutes. Now you can choose the loan amount and the repayment tenure.
• When the KYC verification is done, your income is also verified. Then in a matter of few hours, the loan amount will be directly transferred to your bank account.

Money Tap: credit line and loan app

App’s features

• MoneyTap is a famous credit line and instant personal loan app in India that offers instant approval for a credit line of up to Rs. 5,00,000. Moreover, you have to pay interest only on the amount that you withdraw from your balance.
• The app aims to provide improved lending services than other Indian banks by offering the flexibility of availing of a credit line which can be used as an early salary. In addition, the app’s interest rates are as low as 12%, and the interest is payable on the exact loan amount that you use from your approved credit line.
• The app extends its services to more than eight-five cities, and you can use MoneyTap’s personal loan for an early salary, for a medical emergency, for wedding expenses, for home repair or renovation, to purchase new mobile or other shopping expenses, education,
• The most exciting app feature is the MoneyTap RBL credit card that you can use to get a 100% cash withdrawal from your credit card online and a fifty-day interest-free period.
• The app’s lending partners are Fullerton India Credit Company Limited, HDB Financial Services Ltd, Incred Capital Financial Services Pvt Ltd, Kisetsu Saison Finance (India) Private Limited, Cholamandalam Investment and Finance Company, Transactree Technologies Pvt Ltd, Tapstart Capital Pvt Ltd, and RBL Bank Ltd.

Instant personal loan details

• Salaried employees with a minimum monthly salary of Rs. 30,000 are eligible to apply for the personal loan. Another highlight of the app is that it charges interest only for the amount you borrow.
• You can get a loan for Rs. 10,000 to Rs. 5,00,000 for an APR ranging between 12% to 36% for an EMI tenure of three to thirty-six months. The processing fees start from 2% to 3.75%, and a one-time, low setup fee from Rs. 199 to Rs. 999. You can plan and choose a flexible EMI and pay later at your convenience.
• You can borrow any amount starting at Rs. 3,000 from your approved Credit Line (of up to ₹5 Lakh) and pay interest only on the amount used. In addition, the app’s instant personal loans provide a risk-free, digital, and paperless experience, and you can also make UPI payments from your credit line.
• The documents required for the loan approval process are an Aadhaar number, ID proof, address proof, and a passport-size photo. You can take a personal loan online using your Aadhaar card and E-sign your application with a mobile OTP to speed up the application process.

Steps to apply for the instant personal loan

• Download the MoneyTap credit line app and log in, fill in the required personal details and check your eligibility.
• Finish the KYC verification, and upload the required documents online. Then, the amount will be transferred directly to your bank account in the quickest time.

mPocket: instant loan app

App’s features

• Instant loan details.mPocket instant loan app is trusted by more than fifteen million users from across the country that offers flexible repayment options as a loan app for students in India. Instant loans for salaried people to come in handy and as a convenient way to receive an early salary.
• The loan application process is paperless and online, with a 4* stars rating making it one of the best-rated instant loan apps in India. In addition, the app has an expert team available to guide and support and a customer service team to address user queries and complaints.
• The app is the most trusted and secure loan platform in India; you need to just download, verify and get the instant personal loan approved and get the amount immediately credited into your bank account.
• The mPokket is a popular instant personal loan app to get loans starting from Rs. 500 to Rs. 30,000 in just a few clicks and in a few minutes. The app is the best loan platform in India to provide student loans and instant loans for salaried individuals.
• It is the best app to provide student loans and instant loans for salaried people. You can get a personal loan instantly from Rs 500 to Rs 30,000. 
• Consider the app a safe and secure platform to turn to any time you run short of money, have a medical emergency, plan for unexpected travel or wedding expenses or need an urgent personal loan. Get everything sorted with the best instant loan app.

Instant personal loan app details

• The instant personal loan is available for up to Rs 30,000, which will be transferred to your bank account in just two minutes. Choose from the flexible repayment options and repay in four months and bag rewards for on-time repayments.
• The processing and loan management fees are between Rs 50 to Rs 200 + 18% GST (will vary depending on the loan amount) for an APR of 142%, interest rates between 0% to 4% per month, and maximum repayment tenure of 120 days.
• The app is associated with RBI-registered NBFC, mPokket Financial Services Private Limited, which is legally compliant in all aspects and well-regulated.
• You have to be a salaried professional (with a minimum monthly income of Rs. 9000) or a student to get instant cash loans or student loans and avail of the easy EMI mode with minimal documentation at a low transaction fee.
• You can get a loan amount from Rs 500 to Rs 30,000 at an interest rate of 0% to 4% per month for a repayment tenure of 61 days to 120 days.
• To apply for a quick personal loan on the app, a student must be above 18 years of age and have a valid college ID card for salaried people; the app offers loans to people receiving salary in a bank account or through cheques. The app provides a reliable and safe payment system, maintaining the confidentiality of user information.
• The documents required are a valid college ID card (for students), PAN, Aaadhaar card, driving license, last three months’ bank statement, and joining letter for salaried professionals. mPokket has a very smooth and quick verification process and is considered one of India’s best online loan apps.

PaySense: personal loan app

App’s features

• PaySense is one of India’s top-ranking personal loan apps, with over ten million loyal customers. The app offers Flexi EMI options without collaterals and at affordable interest rates.
• The app focuses on providing the best security and has robust privacy policies in place. The app ensures absolute safety using high-standard security and privacy norms to protect its database. 
• Therefore, this instant loan app is considered safe and secure and maintains strict confidentiality in sharing user information with third parties without consent.
• The app offers different types of loans, which are personal loans for wedding expenses, purchase of a new or used vehicle (four-wheeler and two-wheeler) loans, durable consumer loans, travel loans, student education loans, and medical emergency loans.
• You can use the app’s EMI calculator to calculate your personal loan EMI which gives you the liberty to plan and decide your own personal loan tenure and suitable EMI amount.
• The app extends its services to more than 500 cities and is one of the most secure and easy platforms to get an instant personal loan. You can apply for a loan anytime and from anywhere, and the simple loan application process does not take more than two minutes to be completed.
• Choose your repayment option and opt for the easy, manageable, and reasonable EMIs. The app provides complete transparency without any hidden costs. You can access and apply for the loan 24/7 using the app’s simple loan application process.
• The app onboarding, loan application and approval process is completely paperless. You need to upload all the required documents online using the app and get the loan amount in the quickest possible time without having to visit the bank or office multiple times.

Instant personal loan details

• The app offers you an instant personal loan ranging from Rs. 5,000 to Rs. 5,00,000 at an APR between 16% to 36% on a reducing balance basis. Additionally, the app does not have any restrictions pertaining to your credit score, and even if you have a credit score that is low, you can avail of the app’s instant personal loan.
• Once your documents are verified and the loan gets approved, the amount will be credited to your bank account directly within minutes. The PaySense instant personal loan app is an apt platform that facilitates easy money lending through properly registered NBFCs or banks its users.
• The details of all the app’s registered lending partners include PayU Finance India Private Limited, Kisetsu Saison Finance India Private Limited, HDB Financial Services Limited, Fullerton India Credit Company Limited, IDFC First Bank Limited, and Northern Arc Capital Limited.
• Any resident of India within the age group of 21 to 60 years of age with a steady monthly income is eligible for a personal loan.
• The instant personal loan repayment tenure is between three to sixty months, where the EMI and interests will be calculated based on tenure. Therefore, you can pre-pay your convenient loan amount after six EMI payments.
• The foreclosure charge includes 4% + 18% GST on the remaining principal amount, and the late payment charges are Rs. 500 + 18% GST (₹590) if you fail to pay the EMI on the fixed due date.

Steps to apply for the instant personal loan

• First, install the PaySense instant personal loan app and register and log in. Next, check your instant personal loan eligibility.
• Submit the required KYC documents like ID proof (Aadhar/PAN/Voter ID), income proof (bank statement), address proof (Aadhar/Utility bills/Rental agreement), and a photograph. Then, confirm and sign the loan application form to get speedy approvals. After your loan is approved, the loan amount will be directly credited to your account.

RapidRupee: personal loan app

App’s features

• The instant personal loan you get from the RapiRupee app can be considered an early salary, instant cash, or a personal loan. You will get the required loan amount without any credit checks, cumbersome procedures, or lengthy paperwork.
• The app offers different types of instant personal loans include, including personal loans for salaried individuals that can be considered as an advance salary that can be used to cover small and urgent needs. The money will be transferred directly to your bank account after the loan approval is over.
• You can also avail of a small and quick personal loan of up to Rs. 60,000 that you can repay in twelve months. The app’s cash loans come in handy to help you manage everything from monthly grocery bills to school fees and other outstanding bills that have to be cleared.
• RapidRupee is one of the many platforms in India which accepts self-employed professional & salaried applicants when they seek personal loans.

Instant personal loan details

• Use the RapidRupee app to get an instant personal loan starting from Rs. 1,000 to Rs. 60,000 for a repayment tenure of 61 to 365 days.
• The maximum APR (inclusive of interest rate and fees) is 35.9%, and the interest rate is at 12% p.a and does not include any membership or upfront fees. The loan approval takes just thirty minutes from the time you apply, and the processing fee starts at Rs. 349
• To get an instant personal loan from RapidRupee, you need to be an Indian citizen in the age group of 22 to 59 years, and a salaried or self-employed individual with a minimum monthly income of Rs. 10,000.
• The documents required to get the instant personal loan are, Aadhaar, PAN, and Selfie or photo. Without a high credit score or membership fees, you can apply for the loan at any time and get it approved within minutes on the app.

Steps to apply for the instant personal loan app

• Once you install the app, the steps to apply for the loan are very simple and easy to follow. First, install the app and log in, then fill in the necessary details in the loan application form.
• Upload the necessary documents for the KYC verification. After the loan is approved, the amount will be credited to your bank account directly within 30 minutes.
• The app ensures the utmost security and safety for all the users by providing a credible platform that is secured with a 128-bit SSL encryption, and all the data is transferred over a secure HTTPS connection that cannot be shared with anybody without your consent.
• The app follows responsible lending by being associated with a registered NBFC as its money lending partner, Yuvaraj Finance Private Limited.

Conclusion

Instant personal loan apps have gained popularity in India due to the app-specific benefits and features ranging from customized loan plans, low-interest rates, and online credit cards to the simple and quick application process and 24 X 7 easy tracking.

With the growing prevalence of several loan apps and finance platforms that offer quick and easy loans through digital verification and documentation, it has become all the more vital and challenging to assess performance and efficiency since several similar platforms, and product features are available in the market. However, the terms and norms are usually similar, and you can compare most of the functions and benefits before choosing the one that suits you the best.

To sum up, all that has been briefed in this article, below are a few ideal factors to consider before you choose the most appropriate instant personal loan app.

• Your eligibility criteria.
• Documentation and verification process
• Loan interest rates.
• Repayment tenure and schedule.
• Flexibility in using the loan.
• Level of access to digital wallets.
• App’s UI and UX.
• Integration of the third party in the app.
• Hidden charges (if any).
• Post-sales and customer service.

We have read in detail about the twelve most popular instant personal loan apps in India that can offer you loans within a matter of minutes. With rising consumer awareness, popularity, and prominence of loan apps, the market has thrived over the past few years and has welcomed more new players with more appealing features.

However, while these instant loan apps in India have made loaning more accessible, as a well-informed user, you must always be well aware of the app’s terms and conditions before signing up so that you do not feel trapped but rather being helped in meeting your urgent financial needs through these apps. Once you understand the policies well and are aware of the borrowing and repayment structures, then you can fully enjoy the many benefits and features of these loan apps. Nevertheless, the sudden arrival and the success of several instant loan apps have ensured that authorized credit is accessible to millions of Indians.

So, without further delay, if you have been planning to take a personal loan at reasonable interest rates and easy EMI options, then go ahead and choose the best one from the most popular loan apps mentioned above that will suit your tenure and amount.