Best Instant Personal Loan Apps in India 2023 : Instant Verification and Disbursal

When facing an urgent need for quick cash, your options are quite limited. One approach is to request a personal loan from traditional banks, but this can be a time-consuming ordeal with extensive paperwork and numerous document submissions.

Another alternative is obtaining a loan through a credit card, but the interest rates can be exorbitant. Seeking financial assistance from friends or relatives is an option, but it can be embarrassing. Furthermore, not everyone is fortunate enough to receive a salary advance loan from their employers in India. Therefore, the most practical solution for obtaining fast cash in India is through personal loan apps.

The internet has transformed the way India conducts its affairs. Nowadays, you can purchase anything from groceries to Smart TVs and more, all from the comfort of your home. This holds true even when you require quick and effortless instant personal loans in India. Several top-notch instant loan apps in India have simplified and expedited the personal loan application process.

Here’s how you can apply for a personal loan using one of these apps:

• Download the lender’s app on your iOS or Android mobile device.
• Register with your social media account or provide basic information such as your name, mobile number, email address, income, and bank account details.
• Upload essential documents like your PAN Card, Aadhar Card, job proof, income proof (such as salary slips and bank statements), etc.
• The lender will verify the information you’ve submitted.
• Upon meeting the lender’s eligibility criteria, you’ll receive instant approval.
• After approval, input the desired loan amount based on your eligibility.
• The loan amount will be transferred to your bank account or wallet, depending on your preference.
• Repay the borrowed amount through monthly EMIs via bank transfer.

App Name	Rating	Downloads	App Url	Highlight	Tentures	Annual Percentage Rate
Bajaj Finserv: UPI, Pay, Loans	4.5⭐	50M+	Playstore link	✔️Bajaj Finserv simplifies all your financial needs. Manage payments and financial relations with a few taps. ✔️Apply for loans, cards, EMI’s and more with ease. ✔️ Enjoy convenience and security with online bill payments, mobile recharges and insurance purchases.✔️Make the most of your money with fixed deposits, investments and shopping offers.	12 to 84 months	12% to 34%
CASHe Personal Loan App	4.3⭐	10M+	Playstore link	✔️Get instant access to personal loans starting from Rs 1,000 to Rs 4,00,000 with CASHe. ✔️Enjoy a smart and intuitive user experience that is hassle-free and secure. ✔️Get the money transferred to your bank account instantly with no hidden charges or fees.	3 to 18 months	30.42%
Fibe: Personal Loan Online App	4.4⭐	10M+	Playstore link	✔️Get the money you need, when you need it. Our Instant Personal Loan offers a hassle-free experience with minimal paperwork and quick approval. ✔️Check your eligibility within the app and get instant approval in no time. ✔️Get access to funds without having to wait for days or weeks.	3 to 24 months	28.58%
PayMe: Quick Personal loan app	3.9⭐	5M+	Playstore link	✔️Get instant access to loans of up to Rs. 2 Lakh with a simple online application. ✔️Enjoy flexible repayment options from 3 months to 24 months. ✔️Low processing fees of up to 10% plus applicable taxes make it an affordable option for everyone.	12 to 60 Months	from 11.99%
Instant Approval Personal Loan Indialends	4.0⭐	5M+	Playstore link	✔️Get access to a wide range of credit products from leading banks and NBFCs.✔️Get your free credit report and make informed decisions about your finances.✔️Enjoy instant personal loans with minimal paperwork and hassle-free processing.	6 to 60 months	10.25% to 25%
Instant Personal Loan App Finnable	4.5⭐	1M+	Playstore link	✔️Get instant access to personal loans with Finnable. Our fast-growing app is designed for salaried professionals, and is available in more than 60 cities. ✔️Licensed by the RBI, our mission is to make personal loans available in less than 30 minutes.✔️Avail online personal loans with ease and convenience – no paperwork or long waiting times!	6 to 60 months	21.97% to 27.6%
KreditBee: Quick Personal Loan	4.5⭐	10M+	Playstore link	✔️Get quick, hassle-free access to your funds with KreditBee’s online personal loan platform. ✔️With loans ranging from ₹1,000 to ₹4,00,000 and interest rates starting at 0%, you can get the money you need in just 10 minutes.. ✔️Choose a tenure that suits you the best and enjoy affordable APR rates up to 70%. Enjoy a seamless experience anytime, anywhere – no matter if you are salaried or self-employed.	62 days to 24 months	0 to 70%
Money View: Personal Loan App	4.7⭐	10M+	Playstore link	✔️Get instant access to personal loans ranging from ₹10,000 to ₹5,00,000 with just a few clicks. ✔️Enjoy competitive Annual Interest Rates (APR) starting from 16% to 39%. ✔️Flexible EMI repayment plans available for your convenience. Choose the one that fits your budget best!	3 months to 5 years	16% to 39%
MoneyTap	4.0⭐	10M+	Playstore link	✔️MoneyTap’s Instant Credit Line provides access to up to ₹ 5 Lakhs of credit, with interest rates as low as 12%. Withdraw only what you need and pay interest only for that amount. ✔️Eligibility is limited to salaried employees with a minimum salary of ₹30,000 per month. Get access to the same features and services offered by Indian banks without having to go through the hassle of paperwork or long processing times. ✔️With MoneyTap, you can get an Instant Credit Line and Personal Loan App in India.	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 in just a few minutes with mPokket! ✔️mPokket is India’s most trusted loan app, with over 1.5 crore users. ✔️ Download mPokket now and get approved for your loan in no time!	61 days to 120 days	24 %
PaySense: Personal Loan App	3.4⭐	10M+	Playstore link	✔️Get instant access to funds in the most secure and convenient way ever. No paperwork or hassles. ✔️Flexible repayment options with EMI options and zero collaterals, plus affordable interest rates to suit your budget. ✔️Enjoy loan amounts up to ₹5,00,000 with an Annual Percentage Rate (APR) of 16%-36%.	3 and 60 months	16% to 36%
Personal Loan App – RapidRupee	4.2⭐	1M+	Playstore link	✔️With RapidRupee, you can get an instant loan anytime, anywhere in India. ✔️loans are available with a term of 61-365 days and come with an interest rate of 12% per annum (1% per month) plus processing fees starting from just ₹ 349. ✔️No hidden costs or membership fees. Get approved for a loan in just 30 minutes – yes, we are 24/7!	12 months	12%

Now, let’s take a look at some of the noteworthy personal loan apps in India:

1. Bajaj Finserv: UPI, Pay, Loans

Bajaj Finserv simplifies your financial needs by offering a range of services at your fingertips. With this app, you can apply for loans, cards, EMI’s, and more with ease. It provides convenience and security through online bill payments, mobile recharges, and insurance purchases. Additionally, you can make the most of your money with fixed deposits, investments, and shopping offers. Bajaj Finserv offers flexible loan tenures ranging from 12 to 84 months at annual percentage rates (APR) between 12% to 34%.

2. CASHe Personal Loan App

CASHe’s Personal Loan App offers instant access to personal loans ranging from Rs 1,000 to Rs 4,00,000 with a hassle-free and secure user experience. It ensures transparency with no hidden charges or fees and quick transfers to your bank account. CASHe offers loan tenures ranging from 3 to 18 months with an APR of 30.42%.

3. Fibe: Personal Loan Online App

Fibe’s Instant Personal Loan App provides a seamless and paperless experience for obtaining the funds you need when you need them. It offers quick eligibility checks and instant approvals, eliminating the wait time. Fibe provides loan tenures ranging from 3 to 24 months with an APR of 28.58%.

4. PayMe: Quick Personal loan app

PayMe offers instant access to loans of up to Rs. 2 Lakh through a simple online application process. It provides flexible repayment options spanning from 3 months to 24 months and low processing fees, making it an affordable choice for borrowers. The app offers loan tenures from 12 to 60 months with APR starting from 11.99%.

5. Instant Approval Personal Loan Indialends

Instant Approval Personal Loan Indialends provides access to a wide range of credit products from leading banks and NBFCs. It offers free credit reports and a hassle-free application process for instant personal loans with tenures ranging from 6 to 60 months and APR between 10.25% to 25%.

6. Instant Personal Loan App Finnable

Finnable’s Instant Personal Loan App is designed for salaried professionals and offers rapid loan access in less than 30 minutes. It is licensed by the RBI and provides online personal loans without the need for paperwork or long waits. Loan tenures range from 6 to 60 months with APR between 21.97% to 27.6%.

7. KreditBee: Quick Personal Loan

KreditBee’s online personal loan platform provides quick and hassle-free access to funds. Offering loans from ₹1,000 to ₹4,00,000 with interest rates starting at 0%, KreditBee caters to a wide range of borrowers. The app offers loan tenures from 62 days to 24 months with APR ranging from 0 to 70%.

8. Money View: Personal Loan App

Money View’s Personal Loan App allows you to access personal loans ranging from ₹10,000 to ₹5,00,000 with competitive APR rates starting from 16% to 39%. It offers flexible EMI repayment plans to fit your budget, with tenures spanning from 3 months to 5 years.

9. MoneyTap

MoneyTap’s Instant Credit Line provides access to up to ₹5 Lakhs of credit with interest rates as low as 12%. Eligibility is limited to salaried employees with a minimum salary of ₹30,000 per month. MoneyTap eliminates paperwork and offers a seamless experience for loan tenures ranging from 3 to 36 months with an APR of 12% to 36%.

10. mPokket: Instant Loan App

mPokket offers instant personal loans ranging from ₹500 to ₹30,000 within minutes. It’s a trusted loan app with over 1.5 crore users. The app provides loan tenures from 61 days to 120 days with an APR of 24%.

11. PaySense: Personal Loan App

PaySense offers secure and convenient access to funds with no paperwork hassles. It provides flexible repayment options, EMI choices, and affordable interest rates, making it suitable for various budgets. PaySense offers loan tenures from 3 to 60 months with an APR ranging from 16% to 36%.

12. Personal Loan App – RapidRupee

RapidRupee allows you to obtain instant loans anytime, anywhere in India. Loans are available with terms of 61-365 days with an interest rate of 12% per annum (1% per month) plus processing fees starting from just ₹349. The app ensures transparency with no hidden costs or membership fees and offers 24/7 loan approval.
These apps provide a variety of loan options, flexible terms, and competitive APR rates to meet the diverse financial needs of borrowers in India.