Top 15 best instant personal loan:
1. PaySense
PaySense is a popular instant loan app, enabling users to obtain personal loans up to ₹5 Lakhs at interest rates starting from just 1.08% per month. The app requires minimal documentation and does not depend on credit history.
Interest Rate: 1.08% to 2.33% per month
Loan Amount: ₹5,000 to ₹5 Lakhs
App Rating (on Play Store): 4.5
2. IndiaLends
IndiaLends, a premium lending app, allows users to secure instant personal loans up to ₹50 Lakhs. The loan approval process is rapid, and the funds are disbursed within 48 hours after completing e-verification of documents.
Interest Rate: 10.75% to 25% per annum
Loan Amount: ₹15,000 to ₹50 Lakhs
App Rating (on Play Store): 3.8
3. KreditBee
KreditBee offers quick loans of small amounts with an easy application process and minimal documentation. Its user-friendly interface makes it stand out among other instant loan apps.
Interest Rate: 10% to 29.95% per annum
Loan Amount: ₹1,000 to ₹3 Lakhs
App Rating (on Play Store): 4.4
4. CASHe Personal Loan App
CASHe has tie-ups with major e-commerce platforms like Amazon, Flipkart, and Big Basket, allowing users to make purchases and pay later. Additionally, CASHe offers loan insurance policies on the platform.
Interest Rate: Starting at 2.5% per month
Loan Amount: ₹1,000 to ₹4 Lakhs
App Rating (on Play Store): 4.4
5. EarlySalary Instant Personal Loan App
EarlySalary caters to salaried individuals with short-term personal loans that come with quick approval and a straightforward documentation process. Users can also avail low-interest financing for purchases on select online portals.
Interest Rate: 12% to 30% per annum
Loan Amount: ₹8,000 to ₹10 Lakhs
App Rating (on Play Store): 4.5
6. Credy
Credy is a popular instant personal loan app that offers users the option to avail a top-up loan for additional cash needs.
Interest Rate: 12% to 18% per annum
Loan Amount: Up to ₹1 Lakhs
App Rating (on Play Store): 4.1
7. MoneyTap
MoneyTap is a popular choice for instant personal loans up to ₹5 Lakhs, with interest rates starting from just 1.08% per month.
Interest Rate: Starting at 1.08% per month
Loan Amount: ₹3,000 to ₹5 Lakhs
App Rating (on Play Store): 4.1
8. SmartCoin
SmartCoin is suitable for those seeking small, instant personal loans for short tenures. The app uses artificial intelligence and proprietary algorithms to process loan applications.
Interest Rate: Up to 36% per annum
Loan Amount: ₹4,000 to ₹1 lakh
App Rating (on Play Store): 3.9
9. mPokket
mPokket offers instant personal loans to students and low-salaried individuals, but the interest rates can be higher due to the risk involved.
Interest Rate: Up to 48% per annum
Loan Amount: ₹1,000 to ₹30,000
App Rating (on Play Store): 4.4
10. LazyPay
LazyPay, powered by PayU, provides instant personal loans for small amounts and offers credit line facilities to selected customers.
Interest Rate: 15% to 32% per annum
Loan Amount: Up to ₹5 lakh
App Rating (on Play Store): 4.4
11. Branch Personal Loan App
Branch, an international player in the microlending space, offers instant personal loans up to ₹50,000 with interest rates starting from 15% per annum.
Interest Rate: 15% to 34% per annum
Loan Amount: Up to ₹50,000
App Rating (on Play Store): 4.4
12. Navi
Navi, a new-age fintech startup, offers instant personal loans up to ₹20 Lakhs with an intuitive and user-friendly interface.
Interest Rate: Starting from 9.9% per annum
Loan Amount: Up to ₹20 Lakhs
App Rating (on Play Store): 4.2
13. FlexSalary Instant Loan App
FlexSalary offers short-term instant personal loans of up to ₹2 Lakhs for salaried individuals with minimal documentation requirements.
Interest Rate: Up to 36% per annum
Loan Amount: ₹4,000 to ₹2 Lakhs
App Rating (on Play Store): 4.3
14. Money View
MoneyView caters to urgent cash needs with instant personal loans of up to ₹5 Lakhs for a tenure of up to 5 years.
Interest Rate: 1.33% per month onwards
Loan Amount: ₹5,000 to ₹5 Lakhs
App Rating (on Play Store): 4.6
15. PayMe India
PayMe India offers short-term loans to corporate employees, providing instant personal loans of up to ₹2 Lakhs.
Interest Rate: 18% to 42% per annum
Loan Amount: Up to ₹2 Lakhs
App Rating (on Play Store): 4.3
While these instant loan apps can be convenient for emergency cash needs, it's essential to note that their interest rates are generally higher compared to traditional bank loans. However, they can be helpful when time is of the essence, and you need funds without dealing with extensive documentation formalities.
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