10 Best Personal Loan Apps in India 

Looking for the best personal loan apps in India? Read through this article!

This article is related to an affiliate advertising program and The New Indian Express's journalists were not involved in production of this article.

Our Top Picks

Best Overall - IndusInd Bank

 IndusInd Easy Credit makes it simple for everyone to get credit and offers the following benefits:

  • Instant Personal loans up to Rs. 5 lakhs 

  • Completely Digital process

  • Reasonably affordable EMIs

Best Budget - PaySense

PaySense Instant Personal Loan is for all your wants and dreams that you may not be able to fulfil due to financial constraints. PaySense provides you with a quick personal loan of up to Rs. 5 lakh without any hassle, whether for a wedding, a foreign vacation, paying medical bills, acquiring consumer durables, or home improvement. The procedure is simple and can be conducted in the privacy of your own home. PaySense is available in more than 40 Indian cities.

Best Instant - PaySense

As stated above, PaySense is the best application for instant personal loan approvals. Getting credit through PaySense is quick and simple, and it includes the following benefits:

  • Availment of Personal Loans up to Rs. 5 lakhs instantly.
  • A completely digital process.
  • Reasonable interest rates.
  • Affordable EMIs with auto-debit and reminders.

Find Out The 10 Best Personal Loan Applications In India

A personal loan is similar to emergency finance which a borrower can use when he or she is short on cash. Such loans have no end-use restrictions so the money can be spent on anything, including weddings, vacations, and medical expenses. For borrowers, it's like the most comfortable financial cushion.

Thanks to technological advancements, the application and disbursement of personal loans have gotten easier. Not only do traditional banks and NBFCs provide loans nowadays, but several mobile applications provide users with immediate personal loans. On the one hand, traditional banks take a long time to process personal loan applications and charge high-interest rates. In contrast, in under an hour, personal loan applications give safe and hassle-free instant cash loans in India.

So, the next time you're in a pinch for cash, check out one of the personal loan application possibilities on your mobile app store. Moving forward, we will present an extensive list of India's top personal loan applications and the different critical features and facts you must understand before applying for any of these applications in this article.

Summary Of The 10 Best Personal Loan Applications In India

Going to a regular bank when you need a quick cash loan might be time-consuming because it needs a lot of documentation. A credit card is another alternative, but the interest rates are exceedingly expensive. It can be awkward to ask your friends or relatives. Salary advance loans are not available to everyone in India. In such instances, applying for a personal loan is the best choice. Below is a ranking of India's finest personal loan applications, which may make getting a personal loan a lot easier and more convenient. To learn more about them, keep scrolling.

S No.

Application Name

App Store Rating

Playstore Rating


IndusInd Bank








Money Tap
















Home Credit




PayMe India




India Lends







A Complete List Of The 10 Best Personal Loan Applications In India

Without further delay, let us look at the specifications of these 10 personal loan applications, their pros and cons, reviews, and much more to help you make a better decision. 

1. IndusInd Bank

With IndusInd Easy Credit Personal Loan, you can fulfil all of your wants and needs that you might not be able to fulfil due to financial constraints. You can easily obtain a personal loan of up to Rs. 5 lakhs at zero processing fees (valid for a limited period), regardless of usage. The procedure is simple, requires no physical documentation, and can be done from the convenience of your home.



Reviewed as trusted loan providers by many customers across India

Loan is not passed to people with a poor credit rating

Complete transparent and trustworthy process

You cannot avail of small loans of less than 30,000

2. PaySense

This is one of the best instant loan apps without salary slips, and it has recently merged with LazyPay to become one of the best platforms in this field. For any work, you can acquire rapid personal loans ranging from INR 5,000 to INR 5,00,000, and you won't have to wait long for approval. The best part is that you won't have to worry about running out of time because this platform is known for approving requests quickly. What makes this platform the best personal loan app? The documents can be picked up immediately from your house, eliminating the need to courier or scan for digital copies. They also provide a variety of low EMI plans that make loan payments simple and hassle-free. If you need another loan, you can simply get it done with one click since the documentation has been recorded earlier, itself.

  • Interest Rate Per Month - 1.08 to 2.33 percent
  • Maximum Loan Amount - Rs. 5,00,000
  • Minimum Loan Amount - Rs. 5,000 
  • Documentation - Proof of Identity (Aadhar card/PAN card), Proof of Address (Aadhar card, utility bills, or rental agreement), Proof of Income (bank account statement), and a Photograph
  • Features - Flexible end-user, Low-Interest rates, No collateral needed, No credit score needed, Easy documentation, Quick approvals & disbursals



The documentation process on this application is very easy and instantaneous

You will need certain documents verified, which takes a lot of time

It provides loans to first-time loanees and people with zero credit history

You cannot take heavy loans if you have a bad credit rating

The loans can be fast-tracked and easily approved


The EMI plans are affordable and depend on the credit score


3. MoneyTap

This is one of the fastest instant loan apps in India. You may acquire a fast loan with MoneyTap; you must download the mobile app. So, how does it function? You must first download the application and register on the same website. After registering, you'll need to complete the KYC paperwork and await final approval. After that, based on your credit score, you can acquire instant credit up to an approved amount of INR 5,00,000, which you can use to buy everyday essentials, indulgences, travel, and other things. The best aspect is that you won't have to go through a lot of paperwork or wait long periods. This makes this one of the best personal loan apps in India, and people do not hesitate to use it.

  • Interest Rate Per Month - 1.08 to 2.3 percent
  • Maximum Loan Amount - Rs. 5,00,000
  • Minimum Loan Amount - Rs. 3,000
  • 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, pay interest only for the borrowed amount, Flexible EMI tenure ranging from 2 to 36 months, Collateral free loan, 4 minutes approval, Secured API and interface, Variable interest rate for the borrowed loan amount



This mobile application is very well-built and customers do not face any lag while using it

The credit period differs and is maximum up to 36 months, depending on the amount

You can easily create profiles with easy KYC

The initial KYC will take time

The credit line is easily offered and can be used as a wallet


Once the instant loans are approved, you do not need to think a lot about the credit score


4. Dhani

It began as a drugstore but has now expanded to include money lending services. Dhani is one of the best personal loan apps without documents, and many outstation students rely on it to make ends meet while working part-time. You can easily obtain a quick loan of up to INR 5,00,000, with interest rates that are both handy and affordable. Every transaction will also earn you 2% cashback, which you may spend for future redemptions and services. No bank mandates are necessary, and you can easily receive a lifetime cashback card with the help of Dhani, which is why this is the best instant loan app without salary slips. Also, you get a virtually interest-free credit line up to INR 5,00,000 and can easily choose to get a 90-day payback scheme.

  • Interest Rate Per Month - 1 to 3.17 percent
  • Maximum Loan Amount - Rs. 5,00,000
  • Minimum Loan Amount - Rs. 1,000
  • Documentation - PAN card, Address proof (passport, voter ID, driving license, Aadhar card), Bank details
  • Features - Instant money up to Rs. 5,00,000 at minimum interest, Easy EMI, Unlimited access to doctors, No processing fee & other charges, Exciting cashback, Free Dhani RuPay card, 100% online process, 24*7 customer support



Dhani has its pharmacy and money services platform integrated into one platform.

You cannot use it on all kinds of e-Commerce platforms

With Dhani, users can get faster loans with lesser EMIs and low-interest rates

The initial documentation while registration takes time

Dhani also helps with all kinds of loans and credit rating facilities for faster approval


It has the best range of cashback services


5. Nira

Nira finance is known for its instant approvals, which is why it is one of the best instant personal loan apps. You can easily get higher amount loans with a simple registration, and they boast about their instantaneous loan sanctions. You can also set up auto-debits and credits through this platform, and you do not need to think about the finances or the charges against your transactions. You need to download the instant loan app, register, upload the documents and link a bank account. It will automatically assess your credit score and will grant you an instant loan without any charges. You can get up to INR 500,000 and the interest rate ranges up to 1.5 to 2.5% (monthly) depending on your score. You can also extend your credit period, which makes it the fastest instant loan app. 

  • Interest Rate Per Month - 1.5 to 2.5 percent
  • Maximum Loan Amount - Rs. 5,00,000
  • Minimum Loan Amount - Rs. 3,000
  • 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



It provides 100% paperless documentation for loans

The higher amount of approvals takes time

You can get the fastest instant loans up to INR 5,00,000 in 3 minutes

You need to have proper documentation and a bank account with KYC

You only pay interest on the money utilised


You do not need a credit score to apply


6. CASHe

CASHe has established itself as the best personal loan app, and the UI/UX it has to offer for its application confirms this. You can easily log in and register on the app, and the dashboard contains all the information you'll need to get a fast loan. You can choose from various loans with a maximum amount of INR 500,000 and various interest rates and repayment terms. You can also make a direct deposit into the associated bank account. You can also set up direct auto-debit for loan interest payments, eliminating the need to visit the platform each time. There are also Buy Now Pay Later partnerships with Flipkart, Amazon, Big Basket, and others, and you may choose to guarantee your debts with insurance policies.

  • Interest Rate Per Month - Starts from 1.75 percent
  • Maximum Loan Amount - Rs. 5,00,000
  • Minimum Loan Amount - Rs. 5,000
  • 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



In this application, users get to set their credit limits from the approved credit line

It requires time to verify all the documents

It is a highly compatible application with platforms like Flipkart, Amazon, etc.

Users would need a great credit score to avail money from here

Users can directly transfer money to their friends.


Single time registration is only required


7. Home Credit

This is one of the easiest portals for any Indian citizen aged 19 to 65 to get short-term loans in India. Depending on your credit rating, you can easily avail of loans up to INR 2,00,000 with two documents only, a PAN card, and any other proof of identity or address. This makes the approval process short and hence it has made the list of the best personal loan apps. You are eligible for a credit period of up to 26 months, and the loan approval is completely digital. It can be directly linked to your bank account or any other digital wallet, and the money will be directly credited to the same account. This platform is also available to senior citizens, who are pensioners and have a basic monthly income and is also valid for students who are studying and not earning.

  • Interest Rate Per Month - 2.4 to 3.3 percent
  • Maximum Loan Amount - Rs. 10,000
  • Minimum Loan Amount - Rs. 2,00,000
  • Documentation - PAN card, Identity/Address proof
  • Features - Generates best offers after evaluating ‘best fit’ eligibility, Provides easy loan application and approval, Extends clear view of loan details, Facilitates quick EMI payments, 100% private and secure online process



They have different kinds of products on loans, insurance, finance, etc.

The rate of interest differs on different products

You need only two documents for approval - PAN Card and Identity/Address proof

You may need to go through all their offers and terms and conditions before applying

It does not take into account your credit history


The EMI plans are flexible


8. PayMe India

PayMe India is a great platform with an extensive range of benefits, which helps it to become one of the best personal loan apps in India. Whether it is last-minute rent payment, utility bills or an impromptu vacation, even a flash sale online, or any necessity in terms of medical emergencies, loss of work and salary, deductions, etc., PayMe India has a loan for all processes. This makes it one of the most versatile platforms to secure loans. You can easily register yourself on the platform, and you will have to select a plan, upload documents, get KYC done, etc., and be eligible for an instant loan. You can also take corporate loans if you have a business. However, you will need the right documentation for such loans, and you can always have a long credit period.

  • Interest Rate Per Month - 2 to 6 percent
  • Maximum Loan Amount - Rs. 1,00,000
  • Minimum Loan Amount - Rs. 1,000
  • Documentation - Bank statement, Salary slip, PAN card, Photo ID proof, Address proof
  • Features - Easy login, Accurate assessment, Swift disbursal, Instant cash, Different loan types, Loan advisory, Safe process, Private & secure



You can get an instant loan of up to INR 1,00,000 within a day

The interest rate is usually higher for short-term instant loans

The documentation takes into account KYC, credit rating, etc

You need to repay in 2 years, only

You will get the best and most accurate assessment from this portal


You can also get an instant cash proposition


9. India Lends

This is one of the most premium and favourite lending platforms for Indians, as they have different kinds of loans available for different classes of loans. They also help get the lowest interest rate from most banks and NBFCs, making it the low-interest loan app most people tend to look for. Apart from instant loans, you can also avail of gold loans at lesser interest rates, property-backed loans, etc. This platform also provides credit cards, and you can choose from over 40+ schemes and cards. What makes this the best loan app for students? You can also check your credit score by just uploading your PAN documents, which helps you select your scheme of instant loans. This is undoubtedly the gold mine of financial services, and every major information is widely available on their portal.

  • Interest Rate Per Month - 0.9 to 3 per cent
  • Maximum Loan Amount - Rs. 50,00,000
  • Minimum Loan Amount - Rs. 15,000
  • Documentation - There are various document requirements on this application which you can scroll through via this website.
  • Features - Easy approval, Quick disbursal, 100% online process, Supportive customer service, High maximum value, Lower interest rates



This application is known to compare all kinds of loans before finding the best

You will need to get yourself registered first

Users can benefit from its low interest rate margins

You will need the right KYC and a good score to get the faster approval

You will need a secure bank account for all transactions


You can get your credit score in 1 minute


10. Navi

Navi is an instant loan-providing platform that provides loans with interest rates starting at 9.99 percent p.a. for terms up to 6 years and loan amounts up to Rs 20 lakh. Through the Navi app, you can obtain a digital personal loan with no processing fees to meet financial emergencies like wedding expenses, medical expenses, etc. 

The best thing about this app is that it is entirely paperless since PAN and Aadhaar numbers are used in the loan application process. The loan can be authorised in under ten minutes and credited immediately to the applicant's bank account. Furthermore, this digital app offers simple, reasonably priced, and easily accessible financial products and services.



It requires less paperwork and documentation

Takes time to correct the changes related to the bank details

Is an easy and convenient process


Offers loans starting from 9.99% to 45%.


From Navi, you can avail of loan up to Rs. 20,00,000


How Do We Pick The Best Personal Loan Applications For You?

In India, more than 15-20 applications and finance platforms will offer quick loans, with all digital documentation and verification completed. However, deciding which one to use has become a challenge because all of these platforms have similar terms and conditions, and most of the functions are comparable. So, in this section, we have mentioned some of the factors that our experts took into consideration while choosing the best personal loan application. 

1. Eligibility Requirements

Our specialists recommend that you apply for any of the immediate personal loan applications that have a wide range of eligibility requirements. Age, geography, credit score, employment status, source of income, and other factors all play a role in eligibility.

2. Processing Of Documents

This is important to consider while selecting a platform. The speed with which your paperwork is processed will determine how quickly you can obtain a personal loan. While some platforms favour completely paperless transactions and paperwork, others require KYC verification in person. As a result, this is a personal decision, as the urgency of your loan will influence the platform you select.

3. Maximum Rate Of Interest

The rate of interest is particularly important in the case of short-term personal loans because you will be required to repay the money immediately. Because if you miss a single payment, it will be carried over to a larger sum, most applications offer interest rates every month. As a result, our experts exclusively check for apps that charge the lowest interest rates.

4. Payment Schedules

Payment schedules must be flexible, or you may lose a significant amount of money. Our analysts seek applications that give a grace period during which you may return the loans without negatively impacting your credit rating or history.

5. Freedom Of Usage Of Loan Amount

Many of the platforms offer immediate loans for certain transactions. This means that if the money is only used to pay for utilities, you can only use it to pay for rent, power, phone bills, and so on. To prevent this situation, our specialists recommend programs that provide you with a loan that can be utilised for a variety of purposes.

6. Linking With Digital Wallets

Digital cash has advanced significantly since the introduction of digital wallets such as Paytm, PhonePe, GooglePay, and others, and most of these platforms allow direct access to such digital wallets. This facilitates transactions as well as other features such as auto-pay, monthly subscription deductions, and so on.

7. Interface Of The Application

The speed of the app, as well as its ease of use, determine whether or not the mobile app is suitable for use. The more user-friendly the interface, the faster one can register and apply for loans. Hence, ensure that the application interface is good and devoid of bugs.

8. Third-Party Integrations 

Integration with platforms such as Flipkart, Big Basket, Myntra, Nykaa, Amazon, Cleartrip, and MakeMyTrip, among others, has become a must. You can use the Buy Now Pay Later function on these rapid personal loan apps to secure your wish list and dream trips at a lower interest rate.

9. Additional Costs And Conditions

Our experts select a quick personal loan application with no hidden terms and conditions. They also conduct extensive research into processing rates as well as other innuendos. This is where the majority of people fail to be vigilant, and they end up losing a significant amount of money.

10. Customer Service Of The Application

When deciding which personal loan to utilise and withdraw from, the application's customer service is crucial. Some platforms have a fantastic customer support team that responds to all inquiries 24 hours a day, seven days a week, and these programs also assist with payments, processing, failures, and refunds. It's usually a good idea to have such apps only when payments and credit are easy to get by.

Frequently Asked Questions About An Personal Loan Application 

Here are our answers to some of the most commonly asked questions about a personal loan application in India.

1. Which is the best application for a personal loan?

The best application to apply for a personal loan is PaySense because of the multiple benefits and features that it provides, as stated above in this article.

2. Which application gives you an instant loan?

All the 10 applications listed above are renowned for providing a personal loan instantly to their users. Based on your requirements, you can pick any one of the above.

3. How can we borrow money immediately?

The best way to borrow money immediately without any hassle is through a personal loan application. The best 10 applications are listed above as per their ranking.

The Bottom Line

With so many personal loan apps on the market, the number of possibilities for quick cash loans has grown, making it easier for you to get a loan quickly. An internet search for quick cash loans in India and a quick comparison of the many cash loan applications in India yields a plethora of possibilities ranging from payday loans in India and immediate loans in India to salary advance loans in India. The times are changing, and personal loan apps are making quick and cheap cash loans in India a reality! It's never been easier to get a personal loan, and the rapid personal loan app download makes it even easier.

So, what are you waiting for? Today is the perfect day to sign up for India's top personal loan app!

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