Best 10 Instant loan Apps 2023

Do you also need an instant loan? in this post we read instant loan apps. So you loan is approve without going to bank. Because now you just have to verify your Aadhar card on RBI registered instant loan app, and you will get the personal loan quickly i.e. within 1 hour.

In the previous article, we had told how to take a loan in 5 minutes. But in this article we will learn more about applying for a fast loan along with the list of the best loan granting apps. With this you will be able to easily decide which loan giving app is best for you.

Table of Contents

What is an instant loan app?

When we need some money in an emergency, we can take a loan from the bank. But most of the people shy away from taking loan in the bank because they have to face long procedures in the bank and also have to provide more documents.

In such a situation, to help people, many Aadhar card loan taking apps have become available on the internet which provide us loan in minutes from mobile. But not all loan apps are safe, hence most people get into a dilemma as to which is the best app for taking loan in India.

Which app gives instant loan in India?

Many of my friends Quick loan of Rs 50000 take loan from Creditbee and Navi loan app. Currently, these are the top best and fast loan apps in India. Apart from these, there are some other personal loan apps which are considered to be the best apps for instant personal loan.

Instant Loan App 2024 (Best)Interest rate on personal loan
Navi Loan AppFrom 9.9% to 36%
Credit B (cheapest loan)0-29.95% (Loan available up to ₹4 lakh)
Paytm Personal Loan10 thousand to 3 lakh (0% interest rate)
slice card loan app0-36% per annum (loan of Rs 5,00,000)
EarlySalary(Fib)Loan from Rs 5,000 to Rs 5 lakh (late fee Rs 9/day)
Pay Sense Personal Loan5 thousand to 5,00,000 crown (16% interest rate)
pocketly appUp to Rs 50,000 at 12% annual interest
Money Tap 2.0 Loan App13% to 18 percent
StayFin Loan App0% interest on 1 month loan
Money View Personal Loan AppStarting from 1.33% interest rate
cash e loan appInterest ranges from 10 to 30.42%

Eligibility for instant loan

To avoid the mobile loan app giving a loan to a person who cannot repay, these apps set several eligibility criteria so that the loan is given only to an eligible person. Information about these eligibility criteria for taking loan can be seen below;

  • The loan applicant must be belong to India.
  • The age of the loan applicant should be between 21 to 55 years.
  • The loan applicant’s credit score must be 700 or above.
  • It is also necessary for the applicant to have a savings account.
  • The applicant must also have some source of income.

Eligibility Criteria for Instant Loan App

Citizenship of the country:- No Indian loan giving app will give loan to any non-Indian. Therefore it is necessary that the applicant should be a citizen of India.

Documents for KYC:- While taking a loan, some documents are asked for verification of the applicant, out of which PAN card and Aadhar card are very important. Apart from these, some other documents may also be asked from you while taking the loan.

Age of the applicant:- Different loan giving apps have different age requirements. But in most of the apps your age should be between 21 years to 55 years.

Personal Bank Account:- You must also have a bank account in which you will receive the loan amount. For this, you can open your savings account in a good bank near you.

Good CIBIL Score:- The banking history and CIBIL score of the applicant is checked by finance companies and banks to give loan. If your CIBIL score is not good then you may have to face many problems.

Your bank statement:- As a proof of banking history, these apps ask for bank statement which should contain your bank statement information of last 6 months.

24 instant loan apps (best and fast)

There is a competition among apps for taking loans on the internet. But we have done research for you and found the most trusted loan apps in India from where you will get the loan quickly and the interest rates will also be low. Now we will know in detail about these fast loan giving apps.

1. Navi Loan App – Best instant loan app

instant loan apps

Navi is my favorite and best loan app in India. more than 10 lakh Indians have received personal loan from it. This is because Navi provides the fastest, low credit score and paperless loans.

Navi Loan App was launched in the year 2020 by Mr. Sachin Bansal (Founder of Flipkart). In this, you can easily take any type of loan from personal loan to home loan right from the comfort of your home. The special thing is that the loan amount is immediately transferred to our bank.

For the safety of its users, this app completely follows the rules of RBI. Personal loan up to ₹ 20,00,000 can be easily availed by applying online. In such a situation, this app has been downloaded more than 5 million times from Play Store.

Description of Navi

Amount of loan Amount₹10,000 to ₹20 lakh
Duration3 to 72 months
Interest RateStarting from 9.9% Per Annum
Link to apply loanGet fast loan on Navi from here
Procedure FeesUp to 6 percent of the loan amount + GST
Minimum Monthly IncomeNil
Age Required18 to 65 years
Late From EMI Payment Fees2% of Loan Amount

Features of Navi

  • You can take high amount loan on low EMI.
  • You can get a loan sitting at home.
  • The loan amount comes to your bank account immediately.
  • The interest rates of this app are quite low.
  • No extra fees have to be paid.

How to get instant loan from Navi Fast Loan App?

  1. Download Navi from button link below.
  2. After installation, sign up in this app.
  3. Select the loan you want to avail.
  4. Now fill some of your basic information.
  5. Now all kinds of information about loan schemes will be made available to you.
  6. You can choose any of these loan schemes and you will get the loan within a short time of application.

Let me tell you that Navi Loan App has been created by the founder of Flipkart. With this you can get both the fastest personal loan without any documents.

2. Money View – instant loan apps

instant loan apps

The name of the best loan app that I have found on the internet is Money View App. Because in this, you can apply for a loan ranging from ₹ 10000 to ₹ 500000 in a very short time, which also gets approved very quickly.

The best thing is that the interest rates on the loan have also been kept very low, which will make it much easier for you to repay the loan. Due to these special reasons, this app has been downloaded more than 10 million times from Play Store.

Loan App Details

Amount of loan Amount₹5,000 to ₹5,00,000
Duration6 to 18 months
Interest RateStarting from 1.33% per annum
Procedure FeesUp to 8 percent of the loan amount + GST ​​charges
Minimum Monthly IncomeRs 13,500 for salaried and Rs 15,000 for self-employed
Age Required21 to 60 years
Late From EMI Payment Fees₹500 processing + GST ​​charges

Features of Money View

  • Hidden fees of any kind are not charged.
  • You will get the loan within 24 hours.
  • For your convenience, they have prepared their own Own Credit Model.
  • The process is completely paperless.
  • Within 2 minutes you can check whether you are eligible for the loan or not.

How to take loan from Money View Loan App?

  • First of all, you need to downlode application.
  • Fill your personal information in this app while registering.
  • Now after filling some other information, apply for the loan.
  • If the loan is approved then accept it after reviewing it.

The personal loan amount will be automatically deposited in your bank immediately after your loan is approved. You can easily repay it later. Read here Complete information about Money View Loan App.

3. Simple Loan App – Fastest loan taking app

instant loan apps

If you want to do online shopping but for some reason you do not have money for shopping, then Simpl can be very useful for you. Because through Pay Later given in it, we can do online shopping and pay this money later.

All you have to do is create an account by submitting your mobile number and some documents and you will get the required loan within 90 seconds. That is why Simpl is counted among the fastest loan giving apps in India.

Loan wala app details

Amount of loanAmountFrom ₹500 to ₹2500
Duration1 to 3 months
LateFromEMIPaymentFees₹250 + GST

Features of Simpl

  • With minimalist designUser-friendly interface.
  • You can track your expenses.
  • 25000 Can take loan up to Rs.
  • The option to set Budget Goals is also available in this app.
  • Keeps your data completely secure.

How to apply for loan on Simpl?

  1. First of all you have to download this application from Play Store.
  2. After installation, some permissions will have to be granted.
  3. Now enter your mobile number and verify it with OTP.
  4. As soon as you login, you will get some credit which can be up to ₹25000 
  5. You can use it anytime and anywhere provided you repay the loan before the billing date.

4. Fibe

If you are a young professional and do any job, then you must have seen many times that our money runs out but there is still time for our salary to arrive. If this happens with you too, then Early Salary can be very useful for you in which we can easily take a loan up to ₹ 500000.

You will be able to easily take a loan up to 36 months in Early Salary and when you receive your salary, you can easily repay it. Can. However, the loan amount also depends on your credit score.

Loan app details

Amount of loanAmountFrom ₹8000 to ₹145000
Duration3 to 36 months
InterestRate12% to 30% per annum
ProcedureFeesUp to 3 percent of the loan amount + GST
MinimumMonthlyIncomeRs 15,000 for salaried and Rs 18,000 for self-employed
AgeRequired21 to 55 years
LateFromEMIPaymentFees₹500 + GST

Features of EarlySalary

  • Due to the digital process, the loan will be available at home.
  • You will easily get a loan ranging from ₹50000 to ₹500000.
  • The loan can also be repaid within 5 years.
  • It will take only 5 minutes to get the loan approved.
  • You will get the loan within a few minutes of Approval.

How to apply loan against EarlySalary?

  1. Download this application in your mobile.
  2. Now fill in your details and upload some required documents .
  3. You now have to select the amount that you want to get for the loan.
  4. After this you will have to wait for some time for the loan to be approved.
  5. Once approved, you will receive the loan amount within minutes .

5. HomeCredit

There is talk of an instant loan app and it is impossible for HomeCredit’s name not to figure in it. Through this app, we can take loan and meet our daily expenses which include mobile recharge, tuition fees, online shopping and bill payment.

It is counted among the oldest urgent loan giving app in India in which we can easily take loan up to ₹ 200000. The best thing I find is that very few documents are required to take the loan. This app is providing its services in more than 300 cities of India.

Loan Apps Details

Amount of loanAmountFrom ₹10000 to ₹200000
Duration6 to 51 months
InterestRateStarting from 2% per annum
ProcedureFeesUp to 3 percent of the loan amount + GST
MinimumMonthlyIncomeRs 10,000 for salaried
AgeRequired19 to 68 years
LateFromEMIPaymentFees₹350 + GST

Features of HomeCredit

  • You can take loan with Easy and Fast process.
  • You can easily take a loan up to a maximum of Rs 200,000 lakh.
  • The loan limit depends on yourCredit Score.
  • IfCredit Scoreis good then the loan is available immediately.
  • There is no need for any kind of guarantee to take a loan.

How to take personal loan from HomeCredit?

  1. On the home page of the app, you will be given information about many loan schemes.
  2. Choose any of these loans as per your convenience.
  3. On the next page you have to calculate your eligibility with the help of your mobile number.
  4. After this a registration form will come in which you will have to enter the requested information.
  5. You will then be contacted by the bank and the loan process will be taken forward.

6. Zest Money

It is clear from its name that in this app we can take loan and repay it in easy installments. All you have to do is download the app and provide your Aadhar card and bank account details and you will get the loan within a few minutes.

Talking about interest rates, interest rates range from 14% to 28%, which is much lower as compared to other apps. If you need money, you can easily take a loan up to ₹ 10,000.

Personal Loan App Details

Amount of loanAmountFrom ₹1000 to ₹200000
Duration6 to 12 months
AgeRequired18 to 65 years
LateFromEMIPaymentFees₹250 + GST

Features of ZestMoney

  • Loan is available without any charges.
  • You can take a loan without visiting the bank.
  • Loan will be available without documents.
  • Loan approval is also very fast.
  • Loan can be taken even if the credit score is low.

How to take loan from ZestMoney app?

  1. After downloading, create your account in this app.
  2. Now enter some of your personal and professional information in it.
  3. After this you will be given credit limit as per CIBIL score.
  4. Here you now have to complete KYC with which your profile will be verified.
  5. After the profile is verified, you can use the given credit limit anywhere.

7. NIRA App – Loan taking app

Nira has been specially designed for young professional in which they can easily take loan ranging from ₹ 5000 to ₹ 100000 through digital process, the interest rates of which can also range from 2% to 3%. For this reason, this app has been downloaded more than one lakh times this year.

You will be happy to know another special thing about it that in this you will have to pay only the interest rates as per the amount you use. As soon as you open the app and apply, you will get the loan within 3 minutes.

Loan App Details

Amount of loan AmountFrom ₹5000 to ₹100000
Duration3 to 12 months
Interest Rate24% to 36% per annum
Procedure Fees₹350 + GST
Minimum Monthly IncomeRs 12,000 for salaried person and Rs 15,000 for self-employed
Age Required21 to 65 years
Late From EMI Payment Fees₹500 + GST

Features of Nira

  • If you have a good credit score you can easily get a loan up to ₹100000.
  • You can check how much loan you are eligible for in its app itself.
  • Interest Rates Are quite low.
  • This process of taking loan is Online .
  • You have to pay interest only on the amount that you will use.

How to take loan from Nira mobile app?

  1. If you have downloaded the Nira app then fill some of your required information in it.
  2. Now many types of plans will be available to you for loan, from which you can select any plan.
  3. Now you have to fill some basic information like your mobile number, name and age.
  4. In the next step you have to verify your profile.
  5. You will receive the loan amount within a few minutes of verification.

8. mPokket – Cheapest Personal Loan App

If you are a young student and want to get a loan for some specific reasons then mPokket can meet your needs which provides instant loans ranging from ₹500 to ₹20000. Interest rates can range from 1% to 6% per month.

Taking a loan is very easy through this app as the entire process from applying to getting the loan is online and there is no need for physical verification. With the help of this Loan Dene Wala App, you will get the loan within 5 minutes after uploading the documents.

Indian Loan App Details

Amount of loan AmountFrom ₹500 to ₹20000
Duration2 to 3 months
Interest Rate1% to 6% per month
Procedure Fees₹34 to ₹203 + GST
Minimum Monthly IncomeRs 12,000 for salaried person and Rs 15,000 for self-employed
Age Required18 to 60 years
Late From EMI Payment Fees₹500 + GST

Features of mPokket

  • You can take loan from the comfort of your homeOnlineWith the process.
  • If any problem arises, you can immediately contact Customer Support.
  • You will not face any problem in taking loan with Simple UI.
  • The size of the app is small so that it will run easily even on phones with less RAM.
  • Salaried Persons and Students can easily take loan in this app.

How to get loan from mPokket app?

  1. Your first task is to download this application.
  2. Now activate your profile by filling some basic information.
  3. In the next step you have to upload some required documents.
  4. If you have selected a loan scheme then apply for it through the application.
  5. You will get the loan amount as soon as your loan is approved.

9. KreditBee – Best app to get instant loan

KreditBee Loan App is also becoming quite popular among the people nowadays in which we can get loan ranging from ₹1000 to ₹200000 with a very easy process. It was launched in the year 2018 and is becoming quite popular among the people nowadays.

This is an app that provides its services everywhere in India due to which you can connect with anyone from any corner of India and anywhere. If you apply for a loan at any time, you will get the loan within a few minutes. Therefore, till now more than 2 million customers have joined KreditBee.

Loan Mobile App Details

Amount of loanAmountFrom ₹10000 to ₹400000
Duration2 to 24 months
InterestRate16% to 29.5% per annum
ProcedureFeesUp to 6 percent of the loan amount + GST
MinimumMonthlyIncomeRs 12,000 for salaried person and Rs 15,000 for self-employed
AgeRequired21 to 45 years
LateFromEMIPaymentFees₹500 + GST

Features of KreditBee

  • Due to online process, you will get the loan right from your home.
  • Your loan gets approved in a very short time.
  • You can apply for a loan at any time and anywhere in India.
  • Will be able to repay the loan through easyinstallments.
  • There is no need for many documents to take a loan.

How to get instant loan through KreditBee app?

  1. The first task you have to do in this process is to Signup in it.
  2. Select the loan amount as per your need.
  3. After this, verify your profile by filling some Basic Information.
  4. After filling all this information, now fill the bank account number.
  5. After everything is done correctly, the loan amount will be deposited in your bank account.

10. MoneyTap – Loan Lene Wala App at low interest

MoneyTap is an app which is currently available in more than 600 cities of India with digital process ₹3000 to . This app has been partnered with RBL Bank, due to which its credibility increases even more.Obtains a loan of up to ₹50000

If you still have a little doubt about its reliability, then for your information, let us tell you that this app is by NBFC . a i=3>Approvedhas been done. Due to some Features more than one crore customers are associated with MoneyTap.

Description of MoneyTap

Amount of loanAmountFrom ₹3000 to ₹500000
Duration2 to 36 months
InterestRate16% to 36% per annum
ProcedureFees₹199 Onwards
AgeRequired23 to 55 years
LateFromEMIPaymentFees₹199 + GST Onwards

Features of MoneyTap

  • This is a great app for students to take loan.
  • You can take loan for up to 36 months.
  • Debit Card, PaytmandUPIwith your Can repay the loan.
  • It has been partnered with RBL Bank.
  • Their customer support is always ready to solve your problems.

How to take loan from MoneyTap Loan App?

  1. After downloading this app from GooglePlayStore, register in it. a>
  2. Now fill some basic details like your age, city, PAN card number and income.
  3. After this Money MoneyTap Your documents will be verified.
  4. Later you have to choose a loan scheme as per your convenience.
  5. After completion of all this process, you will receive the loan amount.

Which is the cheapest personal loan app to give instant loan?

If you need an instant loan, i.e. loan within minutes then you can look for these best instant loan providers< /span>You can apply online loan by downloading mobile apps;

  1. NIRA Personal Loan App – Up to Rs 1 Lakh
  2. Money Tap 2.0 Loan
  3. zestmoney
  4. Google Pay Loan – up to Rs 5 lakh
  5. CreditB – Most Popular
  6. FIBE Loan App
  7. money view
  8. stashfin
  9. ring app

Fees and interest rates applicable on loan app

Loan Interest RateYou have to pay interest on every loan from which these apps earn. It depends on your civil score and banking history that what will be the interest rates on your loan. But generally these interest rates can range from 4% to 49% per annum.
Fees & ChargesOn taking a loan, some fees and charges like Convenience Fees and Processing Fees are also taken from you by the bank or app. Information about this is given to you by the bank at the time of taking the loan.
PenaltyIf you are not able to repay the loan on time, then some penalties are imposed on you from 4:00 pm onwards, information about which is given to you at the time of taking the loan.
GST FeesAs per the orders of the Government of India, GST of up to 18% of the amount is levied on almost every loan.
Loan AmountThis is called the amount that we borrow from these apps. Through any best loan giving app, you can take a loan ranging from ₹ 1000 to ₹ 500000.
TenureThe period from receipt of the loan to full repayment of the loan is called tenure. Through these apps we can get loans for tenure ranging from 65 days to 72 months.
Extra FeesThere are also some apps which charge some extra fees from us for loan. Therefore, it is better that while getting the loan, you should get complete information about its Fees and Charges.

How to check application status on loan app?

If you have applied for a loan and want to check the status of your loan, then you have to download the app from where you are taking the loan. Here you can get information about its status by submitting your loan number.

If you are facing difficulty in this too, you can contact the customer care of the app and get all the information about the loan. Almost all the apps provide services of giving you loan information through call and message.

What is the credit score required for instant loan?

Most apps check your credit score while taking a loan. Therefore, it would be better that you keep your CIBIL score good before taking a loan. If you want to know how much CIBIL score is required for Loan Dene Wala App, then let us tell you that to take a loan, your CIBIL score should be 750 or more.

But there are some apps which will give you loan on low CIBIL score but the thing to keep in mind is that their interest rates are also high. Therefore, it would be good to maintain your CIBIL score and banking history well.

Benefits of fast loan apps

The biggest advantage of taking loan from mobile is that we get the loan in just a few steps while sitting at home. But apart from this we get to see many other benefits about which we are going to provide you the following information:-

  • Convenience: The biggest advantage of the urgent loan app is that we can get the loan right from home. You will not have to go to any bank or office and you will get the loan with just a few documents.
  • Speed: Due to the expansion of internet and technology, taking a loan has become so easy today that as soon as you apply for the loan, you will get the amount within a few minutes. It will also happen. This saves you a lot of time.
  • Increased accessibility: In today’s time, with the help of such instant loan app, even those people who have less knowledge about banking can take loan. Because of this many people are able to take loans without any hesitation.
  • Lower interest rates: If your credit score is good then you will have to pay less interest for the loan. This will also save your money.
  • Improved financial planning: You can take a loan on your mobile while sitting at home. Its advantage is that we get more time to think about the loan we will get. How can we use it?
  • Transparency: While taking a loan, all the information about the loan is available in these apps, due to which you can avoid hidden fees and charges.

Disadvantages of instant loan app

While we see many benefits of apps, they can also have some disadvantages. Following we will tell you some disadvantages of Loan Lene Wala Apps, if you know about them then it will help you in avoiding them;

  • High Interest Rates: Even though in this article we have provided you information about the apps that provide loans at the lowest interest rates. But most of the apps give loans only at higher interest rates, which makes the loan expensive.
  • Short Loan Terms: The tenure of loan taken from mobile is short due to which we have to repay the loan quickly.
  • Hidden Fees: Despite giving all kinds of information about the loan in these apps, there are some apps which charge hidden fees. In such a situation, it would be better for you to take advice from an expert while taking a loan.
  • Limited Loan Amounts: If you need more money to take a loan, then you may face difficulty in this because usually such apps have limited loan amounts only. In such a situation, it would be better to take a loan from the bank.
  • Limited Repayment Options: Only limited payment options are kept by the apps to repay the loan, which may cause problems to some applicants.
  • Risk of Cybersecurity Threats: There are many such apps in which if we get a loan and are not able to repay it on time, then they give us various types of threats. . We should avoid these apps.

Some Things to keep in mind while taking loan

Taking a mobile loan is not as easy as it seems because many things have to be kept in mind which if we ignore, we may have to face many problems. Therefore, we are now going to tell you some things which you should keep in mind while taking a loan;

  • Whoever you are taking loan from, try to ensure that the app is approved by NBFC so that your documents and personal information remain safe.
  • Before selecting a loan, one should definitely consult an expert.
  • Avoid taking loan from a person who takes commission.
  • Some more unsafe loan apps have also become available on the internet which you should avoid. Recently LazyPay and Kissht apps have been banned by the Government of India which are considered unsafe.
  • Before taking a loan, you should get all the information about the loan so that you do not face any problem later.

Greetings, fellow enthusiasts of entrepreneurship, technology, and the art of earning a living! I'm Rashid Naseem, a passionate blogger dedicated to unraveling the mysteries of business, sharing innovative ideas, and exploring the ever-evolving landscape of technology.

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