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It always been seen getting personal loan from bank takes long and involves headache of lot of documents and conditions. Also they have high personal loan interest rates which makes it more tedious during it's repayment.
But today we have technology based solutions that makes it possible to get immediate personal loans from the comfort of your home.
Checkout these top 10 best instant personal loan apps in India in 2021 that provide loans hassle-free within few hours.
Table of Content (toc)
List Of The 10 Best Personal Loan Applications In India in 2021
| Loan App | Amount | Interest | Ratings | Link |
|---|---|---|---|---|
| Loan AppPaySense | Amount₹5,000 – ₹5 Lakh | Interest1.08 – 2.33% | Ratings4.1 | LinkDownload PaySense |
| Loan AppMoneyTap | Amount₹3,000 – ₹5 Lakh | Interest1.08-2.03% | Ratings4.3 | LinkDownload MoneyTap |
| Loan AppDhani | Amount₹1,000 – ₹15 Lakh | Interest1 – 3.17 % | Ratings3.9 | LinkDownload Dhani |
| Loan AppIndiaLends | Amount₹15,000 – ₹50 Lakh | Interest0.9 – 3 % | Ratings4.5 | LinkDownload IndiaLends |
| Loan AppNIRA | Amount₹3,000 – ₹1 Lakh | Interest1.5 – 2.5% | Ratings4.1 | LinkDownload NIRA |
| Loan AppKreditBee | Amount₹1,000 – ₹1 Lakh | Interest2 – 3% | Ratings4.5 | LinkDownload KreditBee |
| Loan AppMoney View | Amount₹10,000 – ₹ 5Lakh | Interest1.33 – 2% | Ratings4.3 | LinkDownload Money View |
| Loan AppCredy | Amount₹10,000 – ₹1 Lakh | Interest1 – 1.5% | Ratings4.1 | LinkLearn More |
| Loan AppCASHe | Amount₹5,000 – ₹2 Lakh | InterestStarts from 1.75% | Ratings4.2 | LinkDownload CASHe |
| Loan AppIDFC FIRST | Amount₹1 Lakh – ₹25 Lakh | Interest1.16 – 1.33% | Ratings4.4 | LinkDownload IDFC FIRST |
Top 10 Best Personal Loan Apps in India
These instant personal loan apps very handy when you need money urgently. With few easy steps you can avail quick personal loan within 10-15 minutes. (it is not a rank list, just collective of the best instant loan apps in India)
PaySense
PaySense is one of the best instant loan apps without salary slips. It provides quick cash loans of 5,000 to 5,00,000. It approves loan requests quickly which makes it one of the best instant personal loan apps without salary slip. Recently, PaySense and LazyPay (PayU’s consumer lending business) merged to build better online digital lending services in India.
Interest Rate Per Month - 1.08 to 2.33 %
Minimum Loan Amount - Rs. 5,000
Maximum Loan Amount - Rs. 5,00,000
Documents Required -
- Proof of Identity (PAN Card / Aadhaar Card)
- Proof of Address (Aadhaar card, Rental agreement, Utility or Postpaid bills)
- Proof of Income (Last 3 months bank Statements)
- A photograph
Features -
- Instant personal loans ₹5,000 to ₹5,00,000,
- Affordable EMI plans,
- Low-Interest rates,
- No collateral needed,
- No credit score needed,
- Easy documentation,
- Quick approvals & disbursals
PaySense Personal Loan Eligibility Criteria
- Resident of India
- Age: 21 years to 60 years
- Employment Type: Salaried & Self-employed
- Minimum Monthly Income: ₹ 12,000 for salaried and ₹ 15,000 for self-employed
- Location: Active in 60+ cities of India
Other Services
- Vehicle Loan
- Consumer Loan
- Marriage Loan
- Travel L
- Travel Loan
- Medical Emergency Loan
- Home Improvement Loan
Official Website : https://www.gopaysense.com/
Email: support@gopaysense.com
PaySense Customer Number: As of now October 2021) PaySense doesn't have a customer care / customer service number.
MoneyTap
Interest Rate Per Month - 1.08 to 2.3 %
Minimum Loan Amount - Rs. 3,000
Maximum Loan Amount - Rs. 5,00,000
Documentation -
- Selfie,
- PAN card,
- Current address proof (electricity bill/ration card/gas bill or postpaid mobile bill/telephone bill/ broadband bill),
- Photo ID proof (passport/driving license/Voter ID/ Aadhar Card),
- Bank statements, Rental agreement, Credit card statement
Features -
- 100% paperless process with online approval of a loan,
- 4 minutes approval,
- Pay interest only for the borrowed amount,
- Flexible EMI tenure ranging from 2 to 36 months,
- Collateral free loan,
- Secured API and interface,
- Variable interest rate for the borrowed loan amount
Dhani
Interest Rate Per Month - 1 to 3.17 percent
Minimum Loan Amount - Rs. 1,000
Maximum Loan Amount - Rs. 5,00,000
Documentation -
- PAN card,
- Address proof (passport, voter ID, driving license, Aadhar card),
- Bank details
Features -
- No processing fee & other charges
- 100% online process,
- Instant money up to Rs. 5,00,000 at minimum interest,
- Easy EMI,
- Free Dhani RuPay card,
- Unlimited access to doctors,
- Exciting cashback,
- 24*7 customer support
IndiaLends
Interest Rate Per Month - 0.9 to 3 percent
Minimum Loan Amount - Rs. 15,000
Maximum Loan Amount - Rs. 50,00,000
Documentation -
For Salaried Individuals
- Identity & Age Proof
- Completely filled personal loan application with photograph
- PAN Card
- Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
- Bank statements for the last 3 months(preferably your salary account)
- Salary Slips of last 3 months
- Form 16 or Income Tax Returns of last 3 years
For Self-Employed Individuals
- Identity & Age Proof
- Completely filled personal loan application with photograph
- PAN Card
- Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
- Bank statements for the last 3 months(preferably your salary account)
- Salary Slips of last 3 months
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Features -
- Easy approval,
- Quick disbursal,
- 100% online process,
- Supportive customer service,
- High maximum value,
- Lower interest rates
Capital First Limited
Capital First’s instant loan app in India is a one-stop solution for most of your financing needs. Your online loan application is sanctioned within 2 minutes. The company provides flexible repayment tenure of 1 to 5 years for a loan amount ranging from ₹ 1 Lakh to ₹ 25 Lakh. If you are an existing customer, you can easily access your loan account details, statement details and raise service requests. You can also check your outstanding balance and your payment dates.
NIRA
Interest Rate Per Month - 1.5 to 2.5 percent
Minimum Loan Amount - Rs. 3,000
Maximum Loan Amount - Rs. 5,00,000
Documentation -
- Recent payslip,
- Last 3 months bank statement,
- PAN card,
- Photograph,
- Identity proof,
- Address proof
Features -
- Quick disbursal,
- Low-interest rates,
- Easy repayment,
- Flexible schedule,
- Supportive customer service
KreditBee
KreditBee is an instant personal loan app for young professionals. You can get a loan of up to ₹ 1 Lakh. The loan process is 100% online. The disbursement is done within 15 mins, and the amount is directly credited to your bank account.
Interest Rate Per Month - 2 – 3%
Minimum Loan Amount - Rs. 1,000
Maximum Loan Amount - Rs. 1,00,000
Money View
Interest Rate Per Month - 1.33 - 2 percent
Minimum Loan Amount - Rs. 5,000
Maximum Loan Amount - Rs. 5,00,000
Documentation -
- Income proof (salary slip or 3 months bank statement),
- PAN card, Address proof (Aadhar card, utility bill, driver’s license, passport, voter’s ID), and
- Identity Proof (Aadhar card, utility bill, driver’s license, passport, voter’s ID)
Features -
- Built-in expense tracker system,
- Bill payment reminders,
- Integration with third-party payment apps,
- Nominal processing fees of 2.5 % to 4%,
- State of the art security system
Credy
Credy is one of the quick loan giving apps in India that provides personal loans on personalised terms. With no hidden costs, no requirement of collateral or a guarantor, fast online processing, and acceptance of a low CIBIL score, Credy is simple, fast and low-cost. The company provides loan durations ranging from 3 to 12months for amounts between ₹ 10,000 to ₹ 1 Lakh. The rates of interest start at 12%, annualised. You can utiliseCredy for quick cash loans, enhancing lifestyle, refinancing loans and credit card bills, and for financing education- either for yourself or your children.
CASHe
Interest Rate Per Month - Starts from 1.75 percent
Minimum Loan Amount - Rs. 5,000
Maximum Loan Amount - Rs. 5,00,000
Documentation -
- Proof of Income (salary slip),
- Proof of Identity (passport, Aadhar card, driving license, or voter ID),
- Proof of Address (bills like electricity, gas, telephone, or maintenance),
- PAN card
Features -
- Online process of application, User-friendliness,
- Privacy & security,
- 24/7 service,
- Low-interest rates,
- Basic documentation
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