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Best Instant Personal Loan in India

Personal Loan Apps

Last Updated 26th Feb 2021

  • 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
Apply for Personal Loan @ 10.40%* Get upto ₹ 1,000* Cashback

List of Best Instant Personal Loan Apps in India Feb 2021

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
MoneyTap 13% ₹ 35,000 to ₹ 5 Lakh 2% + GST
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 ₹ 1,000 to ₹ 10 Lakh.

The online loan application process has made it easier and simpler to apply for a personal loan. MyLoanCare.in 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

FAQs

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

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Personal Loan News - Feb 2021
  • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
    The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
  • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
    IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
  • 2021-02-26 : Canara Bank organized Mega Retail Expo in Mumbai
    Canara bank organized a mega retail expo camp at Gala Auditorium, Patuck Campus in Santacruz (East). The retailers present at the expo displayed salient features of their products which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan. A total loan amount of Rs. 224.30 Crores were sanctioned through the expo.
  • 2021-02-23 : SBI launched YONO Merchant app
    SBI Payments launched YONO Merchant App to expand the digitisation of merchant payments in the country. The Bank is aiming to create a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Point of Sale (PoS) infrastructure in lesser penetrated areas of the country.
  • 2021-02-23 : Tata Capital launched a campaign to introduce Shubharambh loan
    Tata Capital joined hands with Zee Cinema to launch a campaign to introduce the Shubharambh loan. Shubharambh Loans are available across Business, Personal Two-wheeler, Used Car, Loan Against Property and Home Loans. Each product has special features that aims to benefit customers across categories.
*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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