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Best Instant Personal Loan in India

Personal Loan Apps

Last Updated 23rd Sep 2020

  • Interest rates on personal loan apps range between 1.02% to 36%.
  • Minimum Loan Amount: ₹ 1,000
  • Processing Fee Range: Upto Rs. 3,000
  • Duration of Loan: Upto 60 Months
  • App Loans are offered with Credit Line or overdraft facility to enable easy part payment as well as to allow borrowers to pay interest only on the loan amount used.
  • Instant and paperless approvals at lower rates.
  • Compare Personal Loan Interest Rates

List of Best Instant Personal Loan Apps in India Sep 2020

App Interest Rates Loan Amount Processing Fee
Kreditbee 1.02% ₹ 1,000 to ₹ 2 Lakh Rs. 130 - Rs. 850
Cashbean 2.75% ₹ 1,500 to ₹ 60,000 Upto Rs. 3,000
Cashe 1.50% ₹ 10,000 to ₹ 2 Lakh Rs. 500 - Rs. 2250
NIRA 24% ₹ 5,000 to ₹ 1 Lakh Flat Rs. 500
Paysense 1.40% ₹ 5,000 to ₹ 5 Lakh 2.50%
Loantap 1.50% ₹ 50,000 to ₹ 10 Lakh 2% on loan amount
Early Salary Rs. 9 per day ₹ 10,000 to ₹ 2 Lakh Rs. 150 - Rs. 600

Online Loan App

Applying for a personal loan through an app has changed the way people can get funds easily and quickly at fairly low interest rates. Loan Apps have emerged as a preferred choice for people looking for immediate funds with little paperwork. Apps not only allow borrowers to submit an online loan application, but also help them complete the entire loan process digitally in a convenient manner.

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Personal Loan Application

Whether it’s marriage expenses or travel expenditure, personal loans are ideal to meet your short-term financial needs. Also, with no requirement of collateral or security, the documentation required and time to get a personal loan is far less as compared to other loans such as a home loan or car loan. The personal loan amount can range from Rs. 1,000 to Rs. 10 Lakh.

The online loan application process has made it easier and simpler to apply for a personal loan. allows you to apply for the loan in just a few simple steps and connect you to the lender of your choice. With the help of MyLoanCare, you can analyze and compare various personal loan deals offered by top banks and NBFCs in India. We work closely with our partner banks to get the best loan offers, attractive discounts and lower interest rates for you.

How to apply for a personal loan through App?

The process to get a personal loan through instant personal loan apps is quick and takes a few seconds for approval. You need to follow the following steps to get a loan through these apps.

  • Register for the instant personal loan application such as Cashe, Kreditbee and Early Salary etc.
  • Check your eligibility for the personal loan.
  • Next, fill the essential personal and bank details.
  • The loan amount will be instantly transferred to your bank account.

Documents Required for Personal Loan Apps

Instant personal loan apps provide loans with the following minimal documents.

  • Aadhaar card
  • A photograph
  • Bank account details and statements
  • KYC form


Which is the best personal loan app?

In the recent two or three years, numerous personal loan apps have introduced themselves in the market. Some of the most popular ones are Indiabulls Dhani app, Money tap. Besides banks like SBI, HDFC, Axis Bank also have their online loan app.

List of the best instant loan apps in India

Here are some of the best instant personal loan apps in India:

  • Indiabulls Dhani
  • Mobikwik
  • Money Tap
  • Cashe
  • Early Salary
  • Kreditbee
  • Cashbean

How can I get a quick easy loan?

Download MyLoanCare app from the playstore. Fill the required details and apply for the personal loan. Get instant digital assistance from an expert to your personal loan application.

How easy is it to get approved for a loan application?

Salaried employees with monthly salary of ₹ 30,000 and above and a credit score of 700+ have a good chance of getting a loan through any bank including all popular loan apps. Bank may also look at other factors such as past work experience, existing relationship with the bank and mode of receiving salary.

How can I get a small loan fast?

You can get a small loan fast in the following ways:

  • You can apply for the loan on any quick loan app. Such apps tell you instantly whether your loan application is accepted or not.
  • You can also consider asking for a loan from family or friends.
  • The credit card provides the quickest loan. You can consider getting a credit card as well for a fast small loan.

Where can I get a small personal loan?

You can get a small personal loan from any of these finance apps:

  • Cashe
  • Indiabulls Dhani
  • Early Salary

What's the best finance app for iPhone?

Some of the best finance app for iPhone are:

  • Early Salary
  • MobiKwik
  • Indiabulls Dhani

Personal Loan News - Sep 2020
  • 2020-09-22 : SBI offers up to 2 years repayment relief for home and retail loans
    State Bank of India announced the option to choose either a moratorium of up to 24 months or reschedule the instalments and extend the tenure by a period equivalent to the moratorium granted, for its retail customers. ​​​The bank is aiming to assist the customers amid the COVID 19 and economic slowdown.
  • 2020-09-21 : HDFC Bank launches video KYC facility
    HDFC Bank announced the launch of Video KYC (Know Your Customer) facility. The facility is an alternate method of establishing the prospective customer’s identity, during the account opening process in a safe and secure environment.
  • 2020-09-21 : BOB replicates ‘cluster model’ tractor financing
    With an aim to help the farmers, Bank of Baroda has is planning to extend its cluster model tractor. This model will ensure a focused approach at all levels with dedicated officers being assigned specific roles to provide a qualitative and compliance-oriented growth of the segment apart from reducing the turnaround time (TAT).
  • 2020-09-21 : Canara Bank launched i-Lead 2.0 to boost customer services
    Canara Bank has launched the lead management system (LMS) – i-Lead 2.0 (Inspiring Leads System version 2.0). The system has been launched to provide its services to customers irrespective of where they reside. Through this, customers can enquire by using internet banking, mobile banking, call centre, SMS and missed call. This initiative is being introduced with an aim of building and sustaining business relationships with both new customers to bank and existing customers to the bank.
  • 2020-09-18 : PSBs overtake private banks in 2020
    Public sector banks overtook private sector banks in offering retail loans like home, personal, gold, car, two-wheeler and education loan along with business and mudra loans. Since December 2019, PSBs overall lending has gone up to 57.7% as of June 2020, which is a jump of as much as 60 bpsover six months. During the same period, the share of private banks in overall lending has come down by 60 bps to 34.4%. The share of total loans outstanding that private banks have lost has been taken over by state-owned lenders.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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