Top 10 Best Instant Personal Loan Apps in India

Top 10 Best Instant Personal Loan Apps in India: Fincover, PaySense, KreditBee, Dhani Loans, MoneyTap, Slice, Lendingkart, … Capital Float, ZestMoney, and Fullerton India offering quick approvals and loan amounts from ₹5,000 to ₹5 lakh.

In today’s fast-paced world, instant personal loan app have become the go-to place for immediate financial requirement. We have collated the top 10 personal loan apps highlighting their features, benefits, and how they cater to diverse financial needs

Here is a more detailed description of the top 10 personal loan apps in India,

1. Bajaj Finserv

Bajaj Finserv enables customers to borrow personal loans worth ₹40 Lakhs at minimum annual interest rates of 11%. The lending program provides borrowers with various term options while delivering speedy cash distribution.

Key Features:

• Loan amount up to ₹40 Lakhs
• Interest rates from 11% p.a.
• Flexible repayment tenure
• Hassle-free digital application

Note: A minimum income threshold combined with KYC verification applies for all applicants.

2. MoneyView

MoneyView enables applicants to obtain personal loans up to ₹10 Lakhs at interest rates starting from a minimum of 10% per annum. The app provides rapid fund transfers to borrowers who need to submit minimal paperwork.

Key Features:

• Loan amount up to ₹10 Lakhs
• Interest rates from 10% p.a.
• Paperless documentation
• Instant eligibility check

Note: Candidates must meet a specified credit score requirement to secure approval.

3. KreditBee

The digital lending platform KreditBee provides personal loans starting from 17% per annum and extending up to ₹5 Lakhs. Users access this platform with minimal hassle and get speedy approval results.

Key Features:

• Loan amount up to ₹5 Lakhs
• Interest rates from 17% p.a.
• Fast disbursal within 24 hours
• No credit history required for small loans

Note: The platform offers small loan opportunities without requiring any credit history background. Users must submit KYC documents and provide proof of minimum salary to qualify.

4. Fincover (Early Access)

Fincover is a top financial aggregator in India, offering instant personal loans with interest rates from 10.49% to 30% p.a., a 1-4% processing fee, and flexible tenures of 12 to 84 months. It helps users compare loans from 30+ banks and NBFCs for the best options.

Key Features:

• Competitive Interest Rates: Ranges from 10.49% to 30% p.a.
•  Flexible Loan Tenure: Choose between 12 to 84 months for repayment.
• Wide Comparison Options: Compare loans from 30+ banks and NBFCs for the best deals.

Note: Fincover disbursed 100 crore in Personal Loan along through various lenders during the FY 2024-25

5. Fibe (formerly EarlySalary)

Fibe offers short-term personal loans that extend up to ₹5 Lakhs while starting rates at 16% per annum remain applicable. Young professional borrowers choose this service for getting fast access to emergency funds.

Key Features:

• Loan amount up to ₹5 Lakhs
• Interest rates from 16% p.a.
• Instant loan approval
• Flexible repayment options

Note: Minimum salary requirement applies.

6. Navi

Navi offers personal loans up to ₹20 Lakhs with interest rates beginning at 9.9% per annum. The entire loan process is 100% digital.

Key Features:

• Loan amount up to ₹20 Lakhs
• Interest rates from 9.9% p.a.
• Instant approval and disbursal
• No prepayment charges

Note: A good credit score is recommended for better offers.

7. LazyPay

LazyPay provides personal loans that reach a maximum of ₹5 Lakhs at annual interest rates starting at 15% per annum. People use this service primarily for obtaining immediate access to cash.

Key Features:

• Loan amount up to ₹5 Lakhs
• Interest rates from 15% p.a.
• Minimal documentation
• Flexible repayment tenure

Note: Both self-employed and salaried workers can access this loan option.

8. CASHe

Users can obtain personal loans up to ₹4 Lakhs through CASHe which starts its interest rate at 30% per annum. This finance solution serves personnel who work as young professionals in addition to those with salaried positions.

Key Features:

• Loan amount up to ₹4 Lakhs
• Interest rates from 30% p.a.
• Instant loan processing
• No credit history required

9. MoneyTap

MoneyTap enables borrowers to access personal loans of up to ₹5 Lakhs at starting interest rate levels that begin at 13% per annum. Users receive a credit line structure that provides them with borrowing ability according to their needs.

Key Features:

• Loan amount up to ₹5 Lakhs
• Interest rates from 13% p.a.
• Flexible credit line model
• Quick approval process

Note: Users need to maintain a minimum monthly income of ₹25,000 to qualify for this loan.

10. PaySense

PaySense delivers immediate personal loans going up to ₹5 Lakhs together with 14% annual interest rates. Users can complete the application without encountering any difficulties through this app.

Key Features:

• Loan amount up to ₹5 Lakhs
• Interest rates from 14% p.a.
• Simple eligibility criteria
• Quick loan disbursal

Note: KYC verification and proof of income are necessary for accessing these services.

FAQs

1. What are instant personal loan apps?

Instant personal loan apps are digital platforms that offer quick and hassle-free personal loans with minimal documentation. These apps provide fast approval and disbursal, often within 24 hours.

2. Who is eligible to apply for a personal loan through these apps?

Eligibility varies across lenders, but generally, applicants must:

• Be Indian citizens aged 21-60 years
• Have a stable source of income (salaried or self-employed)
• Maintain a minimum credit score as per the lender’s requirement

3. What is the maximum loan amount I can get?

Loan amounts vary by lender, ranging from ₹10,000 to ₹40 Lakhs, depending on your income, credit score, and repayment capability.

4. What is the minimum interest rate offered?

Interest rates start from as low as 9.9% per annum, depending on the lender, loan amount, and applicant’s credit profile.

5. How long does it take for loan approval and disbursal?

Most instant personal loan apps approve and disburse loans within 24 to 48 hours, provided all required documents are submitted.

6. What documents are required to apply?

The common documents required include:

• PAN Card
• Aadhaar Card
• Income proof (salary slips or bank statements)
• Address proof

7. Can I apply for a personal loan if I have no credit history?

Yes, some platforms like KreditBee and CASHe offer loans to individuals with no prior credit history, though interest rates may be higher.

8. Are these personal loan apps safe to use?

Yes, most apps are RBI-registered NBFCs or work with regulated financial institutions. Always check the app’s credibility before applying.

9. What repayment tenure do these apps offer?

Repayment tenures typically range from 3 months to 5 years, depending on the lender and loan amount.

10. Are there any prepayment or foreclosure charges?

Some lenders allow prepayment without extra charges, while others may impose a penalty. It’s best to check the lender’s terms before applying.