10 User-Friendly Instant Personal Loan Apps in India

It has inherently become among Indians to take loans when they don’t have the means to manage their finances. There are times when you have to pay for immediate surgery, education, wedding, vacation, or down payment for a home loan. A personal loan can meet your financial needs without putting a burden on your budget. 

With the advent of personal loan apps, applying for a personal loan has become seamless. They have gained tremendous popularity owing to many features and benefits they offer – simple application process, low interest rate, flexible repayment tenure, relaxed eligibility criteria, and 24×7 tracking. 

Several personal loan apps cater to the specific needs and preferences of borrowers. Here is a list of 10 user-friendly instant loan apps in India 

1. Fullerton India InstaLoan App 

It is a simple-to-use instant loan app available to both salaried employees and self-employed individuals. Available 24×7, the loan approval process is quick and straightforward. The loan amount after approval can get disbursed to your bank account within 30 minutes. One can install the Fullerton Instaloan app from the google play store or ios store as per borrowers handset.

Depending on your age, net monthly income, and current financial obligations, you can avail of up to 25 lakhs as a loan with an interest rate as low as 11.99%. The norms of eligibility criteria are relaxed, and the documentation process is minimum and hassle-free. After submitting your application, you can keep track of your application process on the online loan app. 

2. Credy Loan App 

Credy is best for its quick loan application approval. If everything is in order, your loan will get approved within one minute. It will take about 48 hours for the sanctioned amount to be disbursed to your bank account. Credy offers loans up to Rs. 1 lakh and has no hidden charges. The interest rates are flexible, and you can earn referral bonuses too. 

3. MoneyTap Loan App 

MoneyTap is another popular online loan app to get instant cash from. The process of acquiring a loan is 100% digital and does not involve hefty procedures. You can avail of up to Rs. 5 lakhs as a loan, and it offers to sanction the amount within 5 minutes. MoneyTap offers a collateral-free loan with a 0% interest rate EMI for shopping on Amazon for three months. 

4. EarlySalary Loan App 

Any individual with a salary of Rs. 18000 can get a loan from the instant loan app of up to Rs. 2 lakhs. It is designed for people who do not have a credit history. It offers to sanction the loan within 10 minutes of approval. To avail of interest-free EMI, you can use the EarlySalary limit to shop on Amazon, Flipkart, Bigbasket, etc.

5. Mpokket Loan App 

It is specially made for college students or newly employed individuals. The personal loan amount can start from as low as Rs. 500 without any collateral or salary account documents. It offers flexible repayment options so that students can better manage their credit. Your application gets approved within 24 hours.

6. KreditBee Loan App 

You should opt for KreditBee if you have a stable monthly income and need instant cash without any collateral. The maximum loan amount limit is Rs. 2 lakhs. There are three types of loans available – Flexi personal loans, online purchase loans, and personal loans for salaried people. 

7. MoneyView Loan App 

The benefit of MoneyView is that it tracks your expenses to help you secure a personal loan. The loan amount limit is Rs. lakhs, and the repayment tenure ranges from 3 months to 60 months. You will have to incur a processing fee of 2.5% to 4%.

8. LazyPay Loan App 

There is minimum documentation involved compared to other online loan apps. You can get up to Rs. 1,00,000 as a loan. You can also use LazyPay to shop on Zomato, Swiggy, Amazon, or Flipkart and pay the loan amount with flexible EMI options. 

9. PaySense Loan App 

It is another easy and quick instant loan app available to self-employed individuals. The loan amount ranges from Rs. 5000 to Rs. 5 lakhs. It offers an interest rate of 13% per annum with a repayment tenure of up to 60 months. The best part is that you can choose an auto-debit option for your EMI. 

10. SmartCoin Loan App 

It is an instant loan app that aims to address the short-term needs of customers. You can use the loan amount to make small-ticket purchases. It is a user-friendly instant loan app that offers a maximum of Rs. 25000. as a loan. There is also no limit on how much the minimum salary should be.

In short 

If you require immediate cash, you can opt for one of the above personal loan apps and benefit your needs and affordability.