India is changing, and so are the attitudes, practices, norms, and habits of Indians. Today, it is not taboo to take out a loan. For many purposes, young people have used the best loan apps in India to finance their studies abroad, buy a house, or even their wedding.
Multiple instant money apps in India in 2022 provide quick, hassle-free access to funds to help you in financial emergencies or fulfil your dreams.
Many organizations offer funds to help people realize their dreams. Many Indian organizations have started offering money lending apps. These apps offer many benefits, including customized loans, low-interest rates, online credit cards, and easy application.
We have listed the top loan apps in India and changed the way Indians borrow. This article contains information about India’s top instant personal loan apps for 2022.
The Best Instant Money Apps In India [2022]
![The Best Instant Money Apps In India [2022]](https://donjii.com/wp-content/uploads/2022/05/The-Best-Instant-Money-Apps-In-India-2022.jpg)
Here is a list of India’s top 25 loan apps:
- PaySense
- CASHe
- EarlySalary
- Nira
- KreditBee
- Credit
- mPokket
- Dhani
- Bajaj Finserv
- MoneyTap
- FlexSalary
- MoneyView
- PayMe India
- SmartCoin
- StashFin
- HomeCredit
- ZestMoney
- IDFC First Bank
- LoanTap
- Fullerton India
- LazyPay
- IndiaLends
- CashBean
- RupeeLend
- AnyTimeLoan
PaySense
PaySense is one of the most popular instant loan apps in India. It has both an app and a website that allows salaried professionals to apply for personal loans. The minimum monthly income to obtain a personal loan from PaySense is Rs18,000 PaySense also enables self-employed people to borrow if they earn at least Rs20,000 per month.
The interest rates for the loan app range from 16% to 36% on a reduced balance basis. PaySense offers instant personal loans for a home renovation loan and laptop loans. You also have the option to use it as a marriage loan.
Prashanth Ranganathan and Sayali Karanjkar founded the company in Mumbai. They have partnered with NBFCs/Banks registered with RBI, such as Fullerton and IIFL, Credit Saison India and Northern Arc for loan disbursals. PaySense raised $25.6M in three funding rounds.
You can download the PaySense app from the Google Play Store. Once you have installed the app, all left to do is verify your eligibility and upload any necessary documents. The loan can be paid back in three to six months. PaySense provides an EMI calculator that will help you determine the monthly EMI.
PaySense loans are available to anyone with a good credit rating.
2015 was the year we were founded.
Minimum loan amount: Rs 5,000
Maximum Loan Amount: Rs5,00,000.
CASHe
CASHe can be used to help you secure funds in an emergency or financial crisis. You only need to download the CASHe App for your smartphone. It is available on both the Apple Store and Google Play Store. Once approved, the loan amount will be credited to your account within minutes. You can also transfer part of the loan amount to your Paytm wallet.
CASHe uses a proprietary algorithm-based machine-learning platform to approve loans based on the borrower’s social profile, merit and earning potential.
Inauguration: 2016
Minimum loan amount: Rs.7,000
Maximum Loan Amount: Rs 4,00,000
EarlySalary
Are you often short of cash during the month? Are you worried about paying the bills for the remainder of the month? When your next payday is not near, EarlySalary can help you. This app is a unique personal loan app that salaried professionals can use to get a loan amount of up to Rs5,00,000.
This fintech startup based in Pune allows you to repay the loan in 24 months with easy EMIs. EarlySalary, widespread among the younger generation, raised Rs100 crores through series B funding from Eight Roads Ventures India and IDG Ventures India.
2015 was the year we were founded.
Minimum loan amount: Rs3,000
Maximum Loan Amount: Rs 5,00,000
Nira
India’s best money lending app Nira is also available. In just three minutes, the app will determine your eligibility for the loan. You are granted a credit line up to Rs1,00,000. You can withdraw Rs5000 or more whenever you need it and repay in easy instalments within 3 to 24 months.
You don’t have to have high credit scores to apply. Nira is an option if you have urgent cash needs. The seed funding for the app was $1 million.
2018 was the year it was founded.
Minimum loan amount: Rs5,000
Maximum Loan Amount: Rs 1,00,000
KreditBee
KreditBee is among the best online loan apps for young professionals in India. You can borrow as little as Rs1000 or as much as Rs250,000. The app is available for anyone over 18 who earns at least Rs10,000 monthly.
You can complete the entire process on your phone. There is no need to have physical verification. Once you have uploaded the required documents, you will need to wait for approval and verification. Once the loan amount has been approved, it is immediately credited to your account. This app is top-rated among young professionals.
In 2015, the company was founded
Minimum loan amount: Rs1,000
Maximum Loan Amount: Rs 2,00,000
Credit
Credit, an instant loan app available in India, can help you with your financial needs, such as furnishing your home or paying your credit card bills. Credit does not have hidden fees, and you don’t need to provide collateral or a guarantor to apply for a loan.
Credit makes it easy to get a loan. All you have to do to obtain a loan is download the app and meet the eligibility requirements. Once you’ve uploaded the documents, you’re good to go. Because the loan tenure is flexible, borrowers can choose between three and twelve-month terms. These loans are available to salaried workers earning less than Rs15,000 in Bangalore, Chennai, Pune, Mumbai, Hyderabad, and Hyderabad.
Inauguration: 2016
Minimum loan amount: Rs 10,000
Maximum Loan Amount: Rs 1,00,000
mPokket
College students often run out of money. mPokket created a unique app that allows college students to borrow money from their friends. This personal loan app was specifically designed for college students. It provides students with pocket money.
After downloading the app, you must fill out all the required details. Once your application has been approved, the money will be credited to your Paytm Wallet or bank account. The initial approval amount is Rs500. With regular usage and timely payments, the credit line will grow. The repayment term is between 2 and 4 months.
Inauguration: 2016
Minimum Loan Amount: Rs500
Maximum Loan Amount: Rs30,000
Dhani
This app is backed by Indiabulls Ventures and is one of India’s most popular loan apps in 2022. Dhani allows you to apply for a personal loan from anywhere and anytime. You can apply for an unsecured loan quickly and easily without any documentation. You only need to download the app, provide your Aadhar number and address, and verify.
After verification, the loan amount will be deposited to your bank account in minutes or, as per the claim form, in three minutes. The loan can be repaid in 3 to 36 months.
Inauguration: 2000 (Indiabulls); Launch of the App: 2017
Minimum loan amount: Rs.1,000
Maximum Loan Amount: Rs15,000.00,000.
Bajaj Finserv
Bajaj Finserv is a well-known brand in personal finance and has been in India for more than ten years. Bajaj Finserv has a wide range of loan options and is one of India’s best. To finance your purchases, you can apply for their zero-interest EMI card.
Bajaj Finserv allows personal loans up to Rs 25 lakhs without collateral.
Established in 2007
Minimum loan amount: Rs30,000
Maximum Loan Amount: Rs25,000.00,000.
MoneyTap
MoneyTap has a unique feature called “no-usage-no-interest,” which makes it stand out from other apps. This means you only pay interest on the money spent. You only need to download the app and upload all the required documents. After approval, you will be granted a credit line that you can use as per your needs.
MoneyTap is a partner with some of the most prominent NBFCs in India. It currently serves Hyderabad, NCR, Mumbai and Hyderabad. India. However, to be eligible for a loan, you must earn at least Rs30,000 per month.
2015 was the year we were founded.
Minimum loan amount: Rs3,000
Maximum Loan Amount: Rs 5,00,000
FlexSalary
FlexSalary, an Indian instant loan app specifically for salaried people, was created. This online loan lending platform, based in Hyderabad, is an excellent help for salaried people who require urgent cash in times of crisis.
FlexSalary offers instant approvals and allows borrowers to access their credit at any time. FlexSalary will enable borrowers to choose the loan term and the amount they wish to repay. The app works as an advanced pay app that does not have a fixed EMI. Sign up and upload all required documents to the app. The loan will be transferred to your account once approval has been granted.
Inauguration: 2016
Minimum loan amount: Rs4,000
Maximum Loan Amount: Rs 2,00,000
MoneyView
This is the best instant loan app you can get in India if you need a large amount of cash to pay for an emergency or other expenses. This app allows you to borrow amounts from Rs10,000 to Rs5 lakh and can be born in EMIs between 3 and 5 years.
The whole process is done through the app. It’s elementary and virtually paperless. Once your documents have been approved, you can get the loan amount. MoneyView has seen rapid growth over the past few years and is now available in many Indian cities.
2014 was the year of its foundation
Minimum loan amount: Rs 10,000
Maximum Loan Amount: Rs5,00,000.
PayMe India
PayMe, a fintech firm based in Noida, Uttar Pradesh, offers short-term loans for corporate employees who need immediate cash. PayMe offers short-term cash and instant payday loans to salaried employees to meet their financial requirements at low-interest rates.
The app is all that’s required to complete the loan application. The loan process is quick and reliable. Payne’s customer service team is very responsive to new borrowers and has been known for being helpful. The company raised $2 million from Singapore-based Investors.
Inauguration: 2016
Minimum loan amount: Rs 2500
Maximum Loan Amount: Rs 2,00,000
SmartCoin
This loan app is excellent for those who need quick cash or a short-term loan to meet financial emergencies. SmartCoin is different from other loan apps. It offers loans to individuals of all income levels, including salaried people, stay-at-home parents, support staff, and business owners.
It is effortless to use the app, and the lending platform is exceptionally hassle-free. All the paperwork can be done online, and your application will be approved in minutes. You can apply online for loans up to Rs1,00,000. SmartCoin does not have a minimum salary limit. Therefore, everyone can apply for a loan.
In 2015, the company was founded
Minimum loan amount: Rs 4000
Maximum Loan Amount: Rs1,00,000.
StashFin
StashFin was created by experts in finance, banking and technology. The digital money lending app offers loans starting at Rs1,000 and up to Rs5,00,000. The loans can only be repaid electronically. The loan term can be between 3 and 36 months. StashFin loans are free of hidden fees.
Inauguration: 2016
Minimum loan amount: Rs1,000
Maximum Loan Amount: Rs 5,00,000
HomeCredit
This app is among the oldest money-lending apps in India. This company is part of the international Home Credit Group and has a presence across more than ten countries in Asia and Europe.
The loan app seamlessly works to get you the loan amount you need to solve your financial woes. You can borrow up to Rs 2,40,000 and repay it with easy EMIs in 6 to 51 months.
Inaugurated in: 2011
Minimum loan amount: Rs 10,000
Maximum Loan Amount: Rs 2,40,000
ZestMoney
ZestMoney is a fast way to get a loan. ZestMoney doesn’t require you to have a good credit score. ZestMoney is easy to use. Your loan can be paid back digitally via EMIs. You also get a 100% cashback on your EMIs.
2015 was the year we were founded.
Minimum loan amount: Rs 1,000
Maximum Loan Amount: Rs10,00,000.
IDFC First Bank
This loan app is for you if you need a large amount of cash. It is easy to follow, and your loan amount can be approved in minutes. You can pay the loan off in easy EMIs over 1 to 5 years.
Customers who are already customers can also access loan account details, statement details, outstanding balances, payment dates, and raised service requests.
2018 was the year it was founded.
Minimum Loan Amount N/A
Maximum Loan Amount: Rs40,00,000.
LoanTap
This is one of many instant loan applications in India. LoanTap offers customized loans to its borrowers, with the tagline “Bringing Dreams To Life”.
They offer lifestyle and celebration loans and two-wheeler loans, and home loans. Documentation is easy and requires only minimal documentation. Many repayment options are available, including accelerated payment options or bullet repayment of principal.
2015 was the year we were founded.
Minimum Loan Amount: Rs25,000.
Maximum Loan Amount: Rs10,00,000.
Fullerton India
Fullerton India InstaLoan is a fast and easy way to get a personal loan for salaried or self-employed professionals. This is one of the most popular loan apps for self-employed. Individual loan apps claim to be able to approve loans within 30 minutes.
You only need to provide your basic information for the app to facilitate a simple documentation process. You can also track your loan status dynamically.
It was established in 1994 and 2021 (launch of the app).
Minimum loan amount: Rs50,000
Maximum Loan Amount: Rs 25,00,000
LazyPay
LazyPay, powered by PayU, is India’s fastest loan app. It allows for quick approvals and secure online loan application processing. LazyPay App only requires your mobile number for loan eligibility.
LazyPay’s key offerings include an instant personal up to Rs1,00,000. This is done with minimal documentation and a simple digital process.
In 2015, the company was founded
Minimum loan amount: Rs 10,000
Maximum Loan Amount: Rs1,00,000.
IndiaLends
IndiaLends, a low-interest loan platform and one of the best lending platforms in India, is IndiaLends. The app allows you to apply for instant loans. The app will enable you to check your credit score and upload your PAN. This will enable you to select the instant loan that suits your needs.
Inauguration: 2016
Minimum Loan Amount N/A
Maximum Loan Amount: Rs50,00,000.
CashBean
CashBean is available on both mobile and the web. CashBean is a cutting-edge service that makes it easier to finance your needs. Their mobile app is tech-driven and allows you to apply online for a loan. It takes just minutes to get a loan, and you don’t need any paperwork. All aspects of the loan application, from sanction to disbursal, are digitally recorded.
Established in 2018
Minimum Loan Amount: Rs 1,500
Maximum Loan Amount: Rs60,000
RupeeLend
RupeeLend, a part of the Casinity Group, is a digital finance firm that offers short-term credit. RupeeLend is based in Gurgaon and operates in all major Indian cities. It uses a new way to disburse loans. This is quick and easy. There’s no need for lengthy paperwork. The app can also be used over the phone. It recognizes that customers sometimes need money urgently and can’t wait to get it.
RupeeLend also disburses loans in two hours for new customers and 10 minutes for returning customers. It is one of the most popular instant loan applications in the country. Customers can also customize the amount of their loan quickly with this feature. You can also foreclose your loan without incurring additional charges.
2015 was the year we were founded.
Minimum loan amount: Rs 10,000
Maximum Loan Amount: Rs1,00,000.
AnyTimeLoan
You don’t have to be a salaried person to get a loan. AnyTimeLoan may be the right loan for you. By connecting individuals with lending partners, it offers short-term loans to salaried and self-employed people. The entire process is entirely paperless. You just need to download the app and then follow the instructions. The loan is immediately disbursed to your bank account once approved.
AnyTimeLoan offers three types of loans: K12 education loans, personal loans, and business loans. The loan does not require collateral or a guarantor.
2014 was the year of its foundation
Minimum Loan Amount N/A
Maximum Loan Amount: Rs50,00,000.
How To Choose The Best Instant Personal Loan Application?
More than 15 applications and finance platforms in 2022 will offer instant loans, even after completing digital documentation and verification. It can be challenging to choose one, as all platforms offer similar terms and conditions, and many of the features are the same. Our experts have listed some factors when choosing the best instant personal loan application.
Eligibility requirements
Our experts will approve any instant personal loan application that meets the flexible eligibility criteria. The eligibility criteria include your location, credit score and employment status.
Processing of Documents
This is a crucial factor in choosing a platform. How quickly you can obtain a personal loan will depend on how fast the documents are processed. Some platforms prefer paperless transactions and documentation. However, others require KYC verification in person. This is a personal decision because of the urgency of your loan. You can choose which platform you want to use and which one to abandon.
Maximum Rate Of Interest
The rate of interest is a crucial factor in short-term personal loans. You will need to repay the money immediately. Many applications have interest rates that are per month. If you miss a payment, the loan amount gets rolled over to another. Our experts only look for apps that charge the lowest interest rates.
Payment Schedules
You will lose a lot of money if the payment schedules are not flexible. Our experts are on the lookout for applications that offer a grace period, which allows you to repay the loan without changing your credit rating or history.
The freedom to use the loan amount
Many platforms offer instant loans that are transaction-specific. If the money is being lent only for utility payments, it cannot be used to pay rent, electricity, or phone bills. Our experts will choose loans that can be used for any transaction to avoid this situation.
Connecting with Digital Wallets
Digital wallets such as PhonePe, GooglePay and Paytm have been created. Digital cash has seen significant advancements and many platforms offer a link to these digital wallets. This allows for easy transactions and other features such as auto-pay, monthly subscription deductions, etc.
The interface of the application
It is determined whether the app is easy to use and how fast it can be downloaded. The interface will be easier to use and faster to register for loans. You should ensure that your application interface is clean and free of bugs.
Integrations with Third-Party Parties
Integration with Flipkart and Big Basket, Nykaa and Amazon, Cleartrip and MakeMyTrip is possible. These platforms have made integration a requirement. These instant personal loan apps allow you to use the Buy Now Pay Later option and secure your dream vacations and wishlist at a lower interest rate.
Additional Conditions and Costs
Our experts will choose an instant personal loan application with no hidden terms or conditions. They do extensive research on the processing fees and other innuendos. This is where most people fall short and lose a fair amount of their money.
Customer Service for the Application
When choosing the Instant Personal Loan you want to use or withdraw from, you must consider the customer service. Many platforms offer a customer service team to answer all your questions 24 hours a day. These applications can also help with payments, processing failures, and refunds. These applications are great if there is enough ease in credit and payments.
Bottom line
This was the 2022 list of top instant loan apps. Many other Indian loan apps offer instant personal loans. The market has seen a lot of growth due to consumer awareness and increased adoption. Several new players have been added to it.
While these money lending apps in India make borrowing more accessible, reading all terms and conditions is essential before signing up. This will ensure you understand both the borrowing and repayment structure. You must also be careful when making payments.
According to industry experts, payments must be made only to official accounts registered under NBFC or bank. Payouts must not be made to loan executives. Online payments can be traceable and are considered safe.
Many instant loan apps have made official credit more accessible for millions of Indians. This is an outstanding achievement that deserves a celebration!
Compare the various loan apps available on the Indian market with India’s top-ranked instant loan apps. Then, look at them all to determine the best online loan app that meets your needs.
