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Home Blog Cash Loan Top 20 Instant Loan Apps in India

Top 20 Instant Loan Apps in India: Application Process, Document Required and Eligibility Criteria in 2024

Updated : September 19, 2024

Author : author_image Prakhar

14030 views

Life is unpredictable, and financial challenges can arise when least expected. In such situations, having access to reliable instant loan apps online becomes crucial. In this blog post, we will explore the top 20 instant loan apps in India. Now, let’s dive into a comprehensive list of the best personal loan apps, decoding features, limits, and benefits.

List of 20 Best Instant Loan Apps in India 2024

In 2024, there will be many instant loan apps in India. These apps offer quick access to funds with minimal documentation, making them ideal for urgent financial needs. 

Instant Loan Apps Interest Rate(Per annum)Loan AmountTenureApproval and Disbursal Time
NoBroker InstaCash12.99%₹100000072 monthsWithin Seconds
Prefr10% to 16% ₹50000012 to 48 months48 hours
Incred13.99% to 42% ₹30000012 to 60 months12 to 48 hours
MoneyView15.96% ₹100000060 months24 hours
KreditBee8% to 29.95% ₹5000004 - 36 months10 minutes
Kissht15% to 24% ₹5000003 to 36 months5 minutes
Upwards12% to 22% ₹20000060- months24 hours
Privo9.99% to 39.99% ₹5000003 to 60 months5 minutes
NIRA24% to 36% ₹10000012 months48 hours
FlexSalary35.10% ₹20000010 to 36 months48 hours
MoneyTap13%₹5000003-36 months1 day
PaySense16.8%₹5000- ₹50000024 months 2 days
LazyPay18% - 28% ₹5000003-24 months5 minutes
Navi9.9% to 45% ₹200000048 months20 minutes
CASHe27% to 33%₹40000090-540 days1 day
Dhani13.99%₹1500000090 daysInstant
mPokket11.99%₹4500090 days10 minutes 
TrueBalance24%₹5000 - ₹1250003-12 months30 minutes
Pocketly24% -36%₹500001 - 4 months1 day
Buddy Loan11.99%₹150000006 months to 5 years48 hours

Top 20 Instant Loan Apps in India

Here are the best online loan apps in India. Explore, compare, and make an informed decision to secure your financial stability. Click, apply, and experience the ease of instant loans with the best

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Instant Loan Apps Maximum Limit (INR)Interest RateSpecial Features
NoBroker InstaCash₹10 lakhs12.99% onwardsInstant approval, disbursal within 24 hours, no collateral, flexible repayment options
Prefr₹5 lakhs10% to 16% PASimple and 100% digital processing, no collateral, flexible tenure of 12 to 48 months
Incred₹3 lakhs13.99% to 42% PALow processing fee, flexible tenure of 12 to 60 months, option to add multiple add-ons
Moneyview₹10 lakhs15.96% onwardsNo hidden charges, paperless processing, repayment tenure of up to 60 months
KreditBee₹5 lakhs8% to 29.95% PACompletely online processing, loan disbursal in 15 minutes, collateral-free approvals
Kissht₹5 lakhs15% to 24% PALowest interest rates, versatile loan tenure of 3 to 36 months, no minimum foreclosure window
Upwards₹2 lakhs12% to 22% PA100% digital loan application, fast disbursement, minimal documentation, tenure of 12 to 60 months
Privo₹5 lakhs9.99% to 39.99% PANo foreclosure charges, quick and paperless processing, one of the lowest processing fees
NIRA₹1 lakh24% to 36% PARepayment tenure of up to 12 months, no need for collaterals, loan approval in just two steps
FlexSalary₹2 lakhs35.10% PACredit line approach, flexibility, suitable for varying credit histories, addresses fluctuating financial needs
MoneyTap₹5 lakhs13%The app features quick approval, minimal documentation, and flexible repayment options. 
PaySense₹5000- ₹50000016.8%Convenient, minimal documentation
LazyPay₹5 lakhs18% - 28% Fast approval process, repayment tenure of 3-24 months
Navi₹2 lakhs9.9% to 45% Repayment tenure is 48 months, 20 minutes fund approval
CASHe₹4 lakhs27% to 33%stress-free loans with minimal documentation requirements.
Dhani₹15 lakhs13.99%Instant disbursement of funds, 90 months loan repayment tenure
mPokket₹4500011.99%Loan approval in 10 minutes
TrueBalance₹5000 - ₹12500024%Minimal documentation, repayment tenure is 3-12 months. 
Pocketly₹5000024% -36%Small loan app, offers loan approval within one day.
Buddy Loan₹15 lakhs11.99%Loan approval in 48 hours, streamlined application process

1. NoBroker InstaCash

  • Maximum Limit: ₹10 lakhs
  • Interest Rate: 12.99% onwards
  • Overview: NoBroker InstaCash, an exclusive offering for verified tenants and homeowners, provides a personal credit line with a substantial limit of ₹10 lakhs. Users enjoy instant approval based on their NoBroker profile and credit score. The funds are disbursed within 24 hours directly to the bank account, making it a reliable choice for those in need of quick financial assistance. With no requirement for collateral, flexible repayment options, and a pre-approved limit, NoBroker InstaCash stands out as a top-tier personal loan app.
  • Repayment Tenure: 12-60 months
  • Documents Required: Aadhar card, address proof, PAN card
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: 2 minutes
  • Processing Fee - 0.25% to 1%

2. Prefr

  • Maximum Limit: ₹5 lakhs
  • Interest Rate: 10% to 16% PA
  • Overview: Prefer positions itself as a leading choice among instant personal loan apps. Boasting a simple and 100% digital processing system, Prefr offers a hassle-free experience for users. With no collateral required and a flexible tenure ranging from 12 to 48 months, borrowers can customize their loan experience to suit their specific needs. Prefr's competitive interest rates make it an attractive option for those seeking efficient and straightforward loan solutions.
  • Repayment Tenure: 12 to 48 months
  • Documents Required: PAN card, photo ID, address proof
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time:  2 hours
  • Processing Fee: 3% to 5%

3. Incred

  • Maximum Limit: ₹3 lakhs
  • Interest Rate: 13.99% to 42% PA
  • Overview: Incred's loan offering caters to a diverse audience with a maximum limit of ₹3 lakhs. A standout feature is the low processing fee and the flexibility to choose a repayment tenure ranging from 12 to 60 months. Users can also enjoy the ability to add multiple add-ons to their loan, enhancing their overall borrowing experience. Incred focuses on providing a seamless and customizable loan solution for individuals with varying financial needs.
  • Repayment Tenure:12 to 60 months
  • Documents Required: KYC documents and income documentation 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time:12 to 48 hours 
  • Processing Fee: 2% to 5% 

4. Moneyview

  • Maximum Limit: ₹10 lakhs
  • Interest Rate: From 1.33% per month
  • Overview: Moneyview distinguishes itself with a range of standout features. Offering loans with no hidden charges and a paperless processing system, Moneyview provides a user-friendly experience. Borrowers can opt for repayment tenures of up to 60 months, giving them the flexibility to manage their finances effectively. The digital-centric approach ensures quick disbursal, making Moneyview a top choice for those seeking transparency and convenience in their loan application process.
  • Repayment Tenure: 60 months 
  • Documents Required: Aadhar card, utility bill, PAN card, Voter ID
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 57 years 
  • Approval and Disbursal Time: 24 hours
  • Processing Fee: 2% of the loan amount 

5. KreditBee

  • Maximum Limit: ₹5 lakhs
  • Interest Rate: 8% to 29.95% PA
  • Overview: KreditBee takes the lead in rapid loan disbursal, offering a significant advantage to users. The convenience of having the loan amount credited directly to the bank account in just 15 minutes sets KreditBee apart. With a completely online processing system, nominal processing fees, and collateral-free approvals, it caters to individuals looking for a swift and efficient financial solution. KreditBee's commitment to speed and accessibility makes it a preferred choice among borrowers.
  • Repayment Tenure: 4 - 36 months
  • Documents Required: Salary slips, Voter ID, Aadhar card, PAN card
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years  
  • Approval and Disbursal Time:10 minutes 
  • Processing Fee: 6.5% of the loan amount 

6. Kissht

  • Maximum Limit: ₹5 lakhs
  • Interest Rate: 15% to 24% PA
  • Overview: Kissht stands as a formidable player in the realm of instant personal loans accessible through the BankSathi application. Offering one of the lowest interest rates and low processing fees, Kissht provides borrowers with a versatile loan tenure ranging from 3 to 36 months. Additionally, borrowers benefit from a repayment tenure of up to 24 months, with no minimum foreclosure window and no charges for early foreclosure. The combination of competitive rates and flexible terms positions Kissht as an attractive option for those seeking comprehensive loan solutions.
  • Repayment Tenure: 3 to 36 months
  • Documents Required: PAN card, Aadhar card, Income proof
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years  
  • Approval and Disbursal Time: 5 minutes 
  • Processing Fee:  6% of the loan amount 

7. Upwards

  • Maximum Limit: ₹2 lakhs
  • Interest Rate: 12% to 22% PA
  • Overview: Upwards Personal Loans are designed to lead individuals toward upward financial success. With a 100% digital loan application process, fast and quick disbursement of loan amounts, and minimal documentation requirements, Upwards ensures a streamlined borrowing experience. Borrowers can enjoy a tenure of 12 to 60 months for repayment, allowing them to tailor their loan experience to their specific financial circumstances. The efficiency of the application process and appealing terms make Upwards a noteworthy option in the instant loan landscape.
  • Repayment Tenure: 60-months
  • Documents Required: Bank statement, PAN card, address proof, Aadhar card
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years 
  • Approval and Disbursal Time: 24 hours  
  • Processing Fee: 6% of the loan amount 

8. Privo

  • Maximum Limit: ₹5 lakhs
  • Interest Rate: 9.99% to 39.99% PA
  • Overview: Privo positions itself as a reliable ally in times of emergencies, offering a seamless and rapid loan application process. With no foreclosure charges or hidden fees, Privo ensures a transparent borrowing experience. The quick and paperless processing, coupled with one of the lowest processing fees, makes it an appealing choice for those seeking a straightforward and efficient loan solution. Borrowers can opt for repayment tenures ranging from 3 to 60 months, providing flexibility and convenience.
  • Repayment Tenure: 3 to 60 months
  • Documents Required: Bank statement, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years 
  • Approval and Disbursal Time: 5 minutes
  • Processing Fee: 5% of the loan amount 

9. NIRA

  • Maximum Limit: ₹1 lakh
  • Interest Rate: 24% to 36% PA
  • Overview: NIRA aims to provide users with the advantage of a manageable, small instant personal loan that can be effortlessly repaid. Borrowers can enjoy a repayment tenure of up to 12 months, and the process involves no need for collaterals. With loan approval in just two steps, NIRA caters to those seeking a quick and straightforward borrowing experience. While the loan amount is limited, NIRA's focus on simplicity and accessibility makes it a viable option for specific financial needs.
  • Repayment Tenure: 12 months
  • Documents Required: 3 months salary slips, bank statement, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 55 years  
  • Approval and Disbursal Time: 48 hours 
  • Processing Fee: 2% to 7% of the loan amount

10. FlexSalary

  • Maximum Limit: ₹2 lakhs
  • Interest Rate: 35.10% PA
  • Overview: FlexSalary caters to individuals seeking a credit line with a maximum limit of ₹2 lakhs. With an interest rate of 35.10% per annum, FlexSalary offers borrowers the flexibility they need. While the interest rate is relatively higher, the platform targets those with varying credit histories. The focus on providing a credit line instead of a lump sum amount distinguishes FlexSalary as an option for those with fluctuating financial needs.
  • Repayment Tenure: 10 to 36 months
  • Documents Required: Driver's licence, bank statement, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 55 years.
  • Approval and Disbursal Time: 48 hours
  • Processing Fee: ₹1250

11. MoneyTap

  • Maximum Limit: ₹5 lakhs
  • Interest Rate: 13% PA
  • Overview: MoneyTap is a leading financial app in India that offers convenient access to credit lines and personal loans. With its user-friendly interface, MoneyTap simplifies borrowing, allowing users to apply for loans within minutes. It provides an interest rate of 13% per annum. 
  • Repayment Tenure: 3-36 months
  • Documents Required: Driver's licence, bank statement, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years, cibil score of 650
  • Approval and Disbursal Time: 24 hours
  • Processing Fee: ₹499

12. PaySense

  • Maximum Limit: ₹5 lakhs
  • Interest Rate: 16.8% PA
  • Overview: PaySense is a prominent instant loan app in India, specialising in providing hassle-free personal loans. It offers a convenient and straightforward process for users with minimal documentation requirements. The app ensures transparency and clarity throughout the application process, with no hidden fees. 
  • Repayment Tenure: 24 months
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: 2 days
  • Processing Fee: 2.5% of the loan amount

13. LazyPay

  • Maximum Limit: ₹5 lakhs
  • Interest Rate: 18% - 28% PA
  • Overview: LazyPay is a popular instant loan app in India known for its lightning-fast approval process. The app often provides loans in just 90 seconds. The interest rates range from 18% to 28% annually. LazyPay caters to individuals' urgent financial needs, ensuring prompt disbursement of funds without lengthy procedures. 
  • Repayment Tenure: 3-24 months
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: 90 seconds
  • Processing Fee: 2% of the loan amount

14. Navi

  • Maximum Limit: ₹20 lakhs
  • Interest Rate: 9.9% - 45% p.a.
  • Overview: Navi is an instant loan provider in India renowned for its swift loan approval process. It often disburses funds within just 20 minutes of application. Offering loans with interest rates ranging from 9.9% to 45% per annum, Navi caters to a wide range of borrowers’ financial needs.
  • Repayment Tenure: 48 months
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: 20 minutes
  • Processing Fee: Nil

15. CASHe

  • Maximum Limit: ₹4 lakhs
  • Interest Rate: 27% to 33% PA
  • Overview: CASHe is India's leading instant loan provider, known for its efficient approval process, which typically completes approvals within one day. With interest rates ranging from 2.75 to 33% annually, CASHe offers quick access to funds for various financial needs. This app caters to individuals seeking financial assistance, providing stress-free loans with minimal documentation requirements.
  • Repayment Tenure: 90 to 540days
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years 
  • Approval and Disbursal Time: One day
  • Processing Fee: 2% of the loan amount

16. Dhani

  • Maximum Limit: ₹15 lakhs
  • Interest Rate: 13.99% PA
  • Overview: Dhani offers loan approvals with instant disbursement of funds. The required documents include a PAN card and proof of address. The interest rate for Dhani starts at 13.99% per annum. The platform’s instant loan approval process makes it a preferred option for individuals seeking immediate financial assistance. 
  • Repayment Tenure: 90 days
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: Instant
  • Processing Fee: 5% of the loan amount

17. mPokket 

  • Maximum Limit: ₹45000
  • Interest Rate: 11.99% PA
  • Overview: mPokket is a financial platform that offers quick and convenient loans to individuals needing immediate funds. mPokket ensures that borrowers can receive loan approvals within 10 minutes. mPokket offers an interest rate of 11.99% per annum. 
  • Repayment Tenure: 90 months
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years 
  • Approval and Disbursal Time: 10 minutes
  • Processing Fee: ₹50 to ₹200 

18. TrueBalance

  • Maximum Limit: ₹1.25 lakhs
  • Interest Rate: 24% PA
  • Overview: TrueBalance prioritises efficiency and accessibility for borrowers needing quick loans. With a commitment to speedy service, TrueBalance offers loan approval within just 30 minutes. While focusing on convenience, TrueBalance also provides an interest rate of 24% annually. 
  • Repayment Tenure: 3-12 months 
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: 30 minutes
  • Processing Fee: 

19. Pocketly

  • Maximum Limit: ₹50000
  • Interest Rate: 24% to 36% PA
  • Overview: Pocketly is a reliable financial platform dedicated to providing accessible loans to individuals in need. With a focus on thorough assessment and responsible lending, Pocketly offers loan approval within one day. Pocketly offers flexibility in interest rates, ranging from 24% to 36% annually. 
  • Repayment Tenure: 1 - 4 months
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: one day
  • Processing Fee: 0% on cash loan

20. Buddy Loan

  • Maximum Limit: ₹15 lakhs
  • Interest Rate: 11.99% PA
  • Overview: Buddy Loan offers accessible loans focused on efficiency and affordability. The borrowers can expect approval within 48 hours, ensuring a prompt response to their financial needs. Moreover, Buddy Loan provides interest rates at a favourable 11.99% annually. 
  • Repayment Tenure: 6 months to 5 years
  • Documents Required: Photograph, PAN card, address proof, Aadhar card 
  • Eligibility Criteria: Citizen of India, Salaried, Self-employed, age limit of 21 to 60 years
  • Approval and Disbursal Time: 48 hours
  • Processing Fee: 2% of the loan amount

Documents Required for Personal Loan

Here are the documents required for instant loan apps in India: 

  • KYC documents like Aadhar card, driving licence, PAN card
  • Income proof
  • Three months salary slip 
  • Address proof
  • Photograph

Eligibility Criteria For Personal Loan

Here’s the eligibility criteria for instant loan apps in India:

  • Citizen of India
  • Age limit of 21 to 60 years old
  • Minimum CIBIL score of 650
  • Salaried or self-employed with a minimum of ₹10000 monthly income.

How To Apply For a Loan On An App

Here are the easy steps to apply for the instant loan on an app in India:

  • Download the lender’s app.
  • Create an account
  • Check the eligibility criteria
  • Fill out the application
  • Submit your KYC verification
  • Loan approval and disbursement

Get Instant Cash With NoBroker InstaCash

Now that you are familiar with the top 10 instant loan apps in India, let’s see which is the best. NoBroker InstaCash is one of the fastest instant loan apps and stands as a reliable & efficient companion for those seeking instant cash solutions. With its user-friendly features, substantial borrowing limit, and commitment to transparency, NoBroker InstaCash is more than just a loan app – it’s a financial ally in times of need.

Whether you're facing unexpected expenses or seizing an opportunity, NoBroker InstaCash ensures that instant cash is just a few clicks away. Embrace financial freedom with NoBroker InstaCash and experience the convenience of swift and reliable access to funds.

Frequently Asked Questions

Q1: How do I find the best personal loan app for my needs?

Ans: To find the best personal loan app, consider factors such as interest rates, repayment terms, and user reviews. Explore apps like NoBroker InstaCash, Prefr, and Moneyview for competitive options.

Q2: What are the advantages of opting for online personal loans?

Ans: Online personal loans offer convenience, quick approval, and easy access to funds. Explore the best online personal loans to experience a hassle-free borrowing process.

Q3: Which loan app provides low-interest rates for personal loans?

Ans: Several loan apps offer low-interest rates. However few of the low-interest personal loan apps are NoBroker InstaCAsh, Prefr, Upwards, and Privo. They are known for their competitive rates and favourable terms on personal loans.

Q4: Can I get a quick loan through a mobile app?

Ans: Yes, many quick loan apps provide swift approvals and fast disbursals. Consider KreditBee, LazyPay, and Upwards for speedy access to funds in times of urgency.

Q5: Which is the best emergency loan app?

Ans: Among the top contenders for emergency loans, the NoBroker Insta Cash app stands out for its quick, hassle-free processing, making it an excellent choice for immediate financial needs.

Q6: How can I find a reputable 7-day loan app?

Ans: Check online reviews from other users to gauge the app's reputation. Look for apps with transparent interest rates and fees. Ensure the lender is a registered NBFC (Non-Banking Financial Company).

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