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10 Best Instant Personal Loan Apps in India

Without further delay, let’s take a look at the features of these 10 instant personal loan apps.

  1. PaySense

This is one of the best instant loan apps without salary slip and it has recently merged with LazyPay to become one of the best platforms in the field. You can get an instant personal loan from INR 5,000 to INR 5,00,000 for any task, and you don’t have to wait for a lot of approvals. The best part is that you don’t have to worry about timing, as this platform is known for quick approvals. What makes this platform the best instant personal loan application? That’s because the documents can be taken directly from home and you don’t need to courier them or scan them for digital copies. They also have a range of affordable EMI plans, which make the loan repayment easy and hassle-free. If you need another loan, you can complete it with one click as the documents have been recorded earlier.

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 (Aadhaar card/PAN card), proof of address (Aadhaar card, utility bill or rent agreement), proof of income (bank account statement), and a photograph

Features – Flexible end-user, low interest rates, no collateral required, no credit score required, easy documentation, fast approvals and disbursement

  1. CASHe

CASHe has made its name as the best instant personal loan app, and it justifies itself with the kind of UI/UX it provides for its application. You can easily log in and register on the app, and the dashboard has all the information you need to get an instant loan. You can choose from a wide range of loans with different interest rates and credit tenure with a maximum amount of INR 5,00,000. You can also transfer money directly to the linked bank account. You can also set up direct auto-debit for the loan interest amount and you don’t need to go to the platform every time. There are also tie-ups with Flipkart, Amazon, Big Basket etc for their Buy Now Pay Later programs and you can also choose to insure your loan with an insurance policy.

Interest rate starts from – 1.75 percent per month

Maximum Loan Amount – Rs. 5,00,000

Minimum Loan Amount – Rs. 5,000

Documentation – proof of income (salary slip), proof of identity (passport, Aadhaar card, driving license, or voter ID), proof of address (bills like electricity, gas, telephone or maintenance), PAN card

Features – Online application process, user-friendliness, privacy and security, 24/7 service, low interest rates, basic documentation

૩ . EarlySalary

EarlySalary should be one of the best one-stop solutions when it comes to any type of instant cash needs. This makes it the best instant personal loan app, and you can borrow money for any kind of personal needs. Whether it’s shopping, travel, paying utility bills, or any cash requirement that can help you get through your tough times, EarlySalary helps with instant loans that you can easily get approved for. You can get an instant loan of up to INR 5,00,000 for a tenure of up to 24 months, and there are also low-cost EMI possibilities on various shopping platforms and traveling platforms like MMT, Flipkart, Amazon, etc. EarlySalary has also partnered. with educational institutions so that students can invest themselves with higher skills without any worries. From instant cash loans to EMIs on shopping and travel, EarlySalary has all the bases covered.

Interest rate per month – 2 to 2.5 percent

Maximum Loan Amount – Rs. 5,00,000

Minimum Loan Amount – Rs. 3,000 is

Documentation – PAN Card, Address Proof, ID Proof, 3 Months Salary Slip (PDF) – Not mandatory for all customers

Features – Loan amount up to Rs. 5,00,000, 100% digital processing with minimal documentation, flexible tenure up to 60 months, pay interest only on the amount used for the number of days, zero prepayment charges

  1. Credit Bee

Credit B has to be one of the most attractive platforms when it comes to instant loans. This makes it one of the best instant loan apps in India, and the interface of the mobile app makes it easy to use. There have been more than 20 million downloads, and more than 2 million customers are satisfied with the services it offers. To apply for a loan from here you must be an Indian citizen above 21 years of age and have a valid PAN ID. If you are a salaried person, you need to earn more than INR 10,000 per month to avail this instant loan. You can avail up to INR 1,00,000 for 62 days for up to 15 months with a maximum interest of 2.49% per month based on your credit score. Additional benefits of easy credit in bank accounts, digital wallets etc. make it the best instant personal loan application.

Interest rate per month – 2 to 3 percent

Maximum Loan Amount – Rs. 1,00,000

Minimum Loan Amount – Rs. 1,000

Documentation – Proof of Identity (PAN Card), Proof of Address (Passport, Aadhaar Card, Driving License, or Voter ID), Bank Statement of Salary Account showing salary credits for at least last 3 months (for salaried people only), and last 3 Month’s Minimum Salary Slip (For Salaried Persons Only)

Features – 100% online processing, low interest rates, flexible loan tenure from 3 months to 15 months, no credit history required, services available in all Indian cities

  1. Credit

This is one of the most advanced instant loan platforms in India. They claim that their approvals are instant and within a minute. However, detailed terms take up to 3 hours and the money reaches within 24 hours. Credy has an efficient and fast online process, which reduces costs compared to most banks. Most users pay only Rs 400 interest per month on a Rs 50,000 loan. This makes it the best instant personal loan app. Their prompt service is a great example of customer service. They will help you anytime, for your ongoing financial needs and any other needs. You can always pay on time and apply for a top-up loan. Credy also offers a fast and helpful customer service experience. You can use their website, IVR and mobile app for any assistance related to loan applications or repayments. You can also get an instant loan without documents.

Interest rate per month – 1 to 1.5 percent

Maximum Loan Amount – Rs. 1,00,000

Minimum Loan Amount – Rs. 10,000

Documentation – PAN card, last 6-month statement of your salary account, ID proof, photograph and address proof. In some cases, payslips, rental agreement and previous loan closing certificate may be asked.

Features – Rs. Loans up to 1 lakh in 5 minutes, Salary verification is straightforward, Get real-time decision on loan terms, Digital signature on loan agreement, Cash disbursement directly to your bank account, Payback in easy EMIs, 24*7 customer support, Referral bonus, No hidden charges, Flexible interest rates and loan tenure

  1. mPokket

This is a portal, which specializes in short term loans for students and salaried people. It helps to get quick instant cash with pre-approval so that you can get rid of your cash crunch and complete daily transactions and errands. The best thing about low interest loan app is that you can directly deposit your approved short term loan money into any digital wallet like PayTm, bank account etc. You don’t need to open a separate bank account or start a new UPI. The system also lets you buy directly from the online portal, which makes it easier for people to handle transactions. This is one of the reasons why people prefer to use mpocket regularly. Salaried people can get short term loans up to INR 30,000 only with proof of their employment and salary credit. Students do not need any proof other than their membership in any institution.

Interest rate starts from – 3.5 percent per month

Maximum loan amount – 30,000

Minimum Loan Amount – Rs. 500

Documentation – (A) For Student Loans – Proof of Identity (Voter Card/Driving License/Passport/Aadhaar Card), College ID Card, PAN Card; (b) For Salary Loans – Proof of Identity (Voter Card/Driving License/Passport/Aadhaar Card), PAN Card, Form 16, Company ID Card, Salary Slip of the bank account where your salary is deposited by your company.

Features – Apply directly using ID card, 100% online processing with minimum documents, application is approved within 24 hours and you can deposit money into your bank account or PayTM wallet, easy payment through various options, provide good credit scores doing.

  1. Dhani

It started as a pharmacy but has now branched out into money lending services as well. Dhani is one of the best instant loans without documents and many overseas students prefer to use it to meet their daily expenses while working as a part-timer. You can easily get an instant loan up to INR 5,00,000 and the interest rates are quite favorable and low. You will also get 2% cashback on every transaction, which you can later use for other redemptions and services. The reason why this is the best instant loan app without payslip is that there is no bank mandate required and you can easily get a lifetime cashback card with the help of Dhani. Plus, you get a virtually interest-free line of credit up to INR 5,00,000 and can easily opt for 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, Aadhaar Card), Bank Details

Features – Instant cash up to ₹ 5 lakh at minimum interest, easy EMI, unlimited access to doctors, no processing fees and other charges, attractive cashback, free Dhani RuPay card, 100% online processing, 24*7 customer support

  1. Bajaj Finserve

This is one of the most famous brands when it comes to personal loans and has been present in India for more than a decade. They have a wide range of offerings and that makes them one of the best personal loan apps. Although it is more famous for financing consumer durables and other electronic items, you can also get their zero interest EMI card and use it to finance most of your purchases. They also help you with personal loans up to INR 25 lakhs, and it is completely based on collateral and other documents of credit rating and credit tenure. You will also need securities to get a mortgage loan. They also have investment schemes and other products like insurance, term loans, gold loans, etc., making it a great place to finance yourself without the thought of getting scammed.

Interest rate starts from – 12.99 percent per month

Maximum Loan Amount – Rs. 25,00,000

Minimum Loan Amount – Rs. 1,000

Documentation – KYC Documents, Employee ID Card, Address Proof, Identity Proof, Last 2 Months Salary Slip, Last 3 Months Bank Statement of your Salary Account

Features – Instant Loan Approval, Fast Disbursement, No Collateral, High Maximum Value, All India Services, 24*7 Customer Support, Flexi Loan Option, Easy EMI

  1. Money Tap

This is one of the rising stars in the fastest instant loan apps segment. With MoneyTap, you can easily get an instant loan, and all you need to do is download the mobile app. So, how does it work? You start by downloading the app and registering yourself on the same site. You have to fill KYC documents and get final approval after registration. After this, you can instantly get credit up to an approved limit of INR 5,00,000 based on your credit score, and you can easily use that money to spend on your daily needs, luxuries, travel, etc. The best part is that you won’t need a lot of documents, or unnecessary paperwork, or waiting time. This makes this one of the best instant loan apps in India, and people don’t even 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 is

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/Aadhaar Card), Bank Statement, Rental agreement, credit card statement

Features – 100% paperless process with online loan approval, pay interest only on borrowed amount, flexible EMI tenure from 2 to 36 months, collateral free loan, 4 minutes approval, secure API and interface, variable interest rate loan amount for borrower

  1. Smart Coin

Smart Coin is one of the best instant personal loan apps in India and the reason for this is that the mobile-based lending platform and proprietary algorithm generally help in completely risk-free analysis of all applications. The system also uses data science, artificial intelligence and machine learning to evaluate all different types of applications. You can also avail loans ranging from INR 1,000 to INR 25,000 with a tenure of 91 days to 120 days at low interest rates. To start the application, you need to download the application and register yourself. Once you do that, you will need to upload all the documents for KYC and once it gets verified, you can easily get an instant loan. However, to get a big loan you need to have a good credit rating. You can also apply for a shorter credit period, and this will qualify for more successive loans.

Interest rate per month – 2.5 to 3 percent

Maximum Loan Amount – Rs. 25,000 is

Minimum Loan Amount – Rs. 1,000

Documentation – PAN Card, Address Proof, Selfie, Photo ID Proof, Bank Statement

Features – Collateral free loan, quick repeat loan, easy process with minimum documents, direct bank transfer

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