If you do not have a credit history or adequate credit score, alternative borrowing options like instant loan apps can come to your rescue.
Multiple instant loan apps in India in 2021 offer a fast, paperless, and hassle-free way of getting quick access to funds to fulfill your dreams or help you during a financial emergency.
Money lending apps in India have become popular owing to the many benefits – customized loans, low-interest rates, online credit cards, the simple application process, and 24X7 tracking. Let’s quickly have a look at the 10 Best Instant Loan Apps In India.
1. PaySense: Personal Loan App
If you are looking for a Personal loan app in India? PaySense is a personal loan app that offers loans up to Rs.5 lakhs at attractive interest rates, zero collaterals, and flexible EMIs. PaySense is an instant money app that offers instant cash loans online. You can use a phone or laptop to check your loan eligibility, submit your KYC details and apply for a loan, receiving approval within 5 hours.
PaySense provides personal loans from Rs.5,000 to Rs.5,00,000 with an Annual Percentage Rate (APR) between 16% to 36% on a reducing balance basis. It is present in 60+ cities in India, including Mumbai, Bengaluru, Kolkata, Chandigarh, Chennai, and Delhi NCR. PaySense has partnerships with NBFCs/Banks registered with RBI such as Credit Saison India, Fullerton, IIFL, and PayU Finance.
Link: PaySense
2. MoneyTap – Credit Line & Personal Loan App Online
MoneyTap is an app-based credit line that allows you to borrow and repay your debts on your schedule. MoneyTap Personal Loans are available in sums ranging from Rs. 3000 to Rs. 5 lakh. All you need to do is download the app and upload the necessary documents. Once you get the approval, you are given a credit line, which you can use according to your needs.
MoneyTap has partnered with the leading NBFCs in the country, and it currently serves Bangalore, NCR, Mumbai, Hyderabad, etc. cities in India.
Link: MoneyTap
3. EarlySalary – Personal Loan & Salary Advance App
EarlySalary is the most innovative Personal Loan App for Salaried Professionals. It is a FinTech startup in Pune that has been creating ripples in the way money lending happens in India. Its personal loan app allows an easy and fast way to get instant loans. The loan amount limit is up to ₹ 2 Lakh at an interest rate starting from 2% per month.
Link: EarlySalary
4. Dhani: Cards with Credit & Online Mart & Pharmacy
Dhani is one of the best personal loan apps without documents, and many outstation students rely on it to make ends meet while working part-time. You can easily obtain a quick loan of up to INR 5,00,000, with interest rates that are both handy and affordable. Every transaction will also earn you 2% cashback, which you may spend for future redemptions and services.
Link: Dhani
5. KreditBee: Get Instant Loan
KreditBee is an instant personal loan app trusted by 1 Crore+ Indians. You can avail of personal loans starting from ₹ 1,000 to ₹ 2 Lakhs, as per your approved credit. On approval, you can get a direct bank transfer within minutes. The loan process is 100% online. The disbursement is done within 15 mins, and the amount is directly credited to your bank account.
Link: KreditBee
6. NIRA – Loan App for Instant Personal Loan Online
NIRA is a FinTech company that offers a line of credit to salaried professionals in India. Nira finance is known for its instant approvals, and that is the reason why this happens to be one of the best instant personal loan apps. You can easily get higher amount loans with a simple registration, and they boast about their instantaneous loan sanctions. The personal loan offered to you is in the form of a line of credit, which has a credit limit range starting from ₹ 3,000 to ₹ 1 Lakh.
Link: NIRA
7. CASHe Personal Loan App
CASHe is an app-based digital lending platform that provides short-term personal loans for various financial needs, but only to salaried individuals. You need to provide documents such as salary slips, bank statements, address proof, and a PAN card, which can all be uploaded through the cash loan app while applying for a loan.
CASHe is the easiest way to get a personal loan online for salaried professionals with a monthly net take-home of ₹12,000 or more. Their loan app disburses short-term loans as soon as possible. The CASHe personal loan app reduces paperwork eliminating human intervention. You can apply for a personal loan from ₹1000 to ₹4,00,000.
Link: CASHe
8. MoneyTap – Credit Line & Personal Loan App Online
This is one of the fastest instant loan apps in India. You may simply acquire a fast loan with MoneyTap. All you need to do is download the app and upload the necessary documents. Once you get the approval, you are given a credit line, which you can use according to your needs.
MoneyTap has partnered with the leading NBFCs in the country, and it currently serves Bangalore, NCR, Mumbai, Hyderabad, etc. cities in India. However, you need to earn a minimum of ₹30,000 a month to qualify for a loan. You can apply for a personal loan from ₹3000 to ₹3,00,000.
Link: MoneyTap
9. mPokket: Personal Loan & Instant Student Loan App
mPokket is a quick loan app for students of colleges wherein they can get instant access to Small Cash Loans up to Rs. 30,000. Just open this online loan app and consider this as a borrowing option whenever you are short of pocket money or you want to avail urgent cash loan in an emergency or even to settle your travel plans and much more. Get everything settled with the best instant loan app.
Link: mPokket
10. LazyPay- Pay Later | Credit Score | Credit via UPI
With LazyPay you can avail of the credit from Rs. 10,000 to Rs. 1,00,000. You could also use this app while shopping from Zomato, Swiggy, Amazon, or Flipkart, etc., and later you can pay with flexible EMI options. LazyPay does everything a credit card does, and more. You even get online loans with instant approval and zero collateral. It is easier, faster, and more convenient. So stop wasting time with paperwork to apply for a credit card or a personal loan, and try LazyPay’s digital credit card instead.
LazyPay is India’s leading online Instant Credit app offering its users a credit limit between Rs 10,000 to Rs 1 lakh with instant approval and zero collateral. Personal loan interest rates range from 15% to 32% p.a. with EMI tenures of 3 to 24 months.
Link: LazyPay
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