15 Best Instant Personal Loan apps in India – Aadhar loan

Loan apps

Looking for immediate money, you can go for the Instant loan apps instead of applying in a regular way at bank/NBFC. They use eKYC leveraging technology to complete KYC verification with Aadhar card.

NBFCs in India have started leveraging technology enabling them to make quick credit decisions. This helps customers to access money quickly. Popular instant personal loan apps in India are:

AppMinimum Loan amtMaximum loan amt
Indiabulls DhaniRs 1,000Rs 15 Lacs
Money ViewRs 10,000Rs 5 Lacs
PaysenseRs 5,000Rs 5 Lacs
MoneytapRs 3,000Rs 5 Lacs
CASHeRs 10,000Rs 2 Lacs
CredyRs 10,000 Rs 1 Lac
QberaRs 1 LacRs 15 Lac
LazyPayRs 10,000Rs 1 Lac
Early SalaryRs 8,000Rs 2 Lacs
Flex SalaryNARs 2 Lacs
LoantapRs 50,000Rs 10 Lacs
KreditbeeRs 1,000Rs 1 Lac
NiraRs 5,000Rs 1 Lac
StashfinNARs 5 Lacs
ETMoney LoanpassRs 3000 Rs 5 Lacs

Let us review each of these loan apps in detail.

Indiabulls Dhani Loan app

Indiabulls Dhani is the best app when it comes to receiving cash instantly. It has a wide reach of cities. Check out my blog post below for more information on Indiabulls Dhani Phone se Loan app.

https://indianloan.in/indiabulls-dhani-phone-se-loan/

Money View Loan apps

Money View is one of the popular instant loan apps in India. There are over 7 million downloads of its application. Unlike many others, it has a wide reach and covers 1000+ cities.

Loan tenure varies from 3-60 months with interest rates varying from 16-24%. The processing fee is in the range of 2.5%-6%.

The loan is provided in the range of Rs 10,000 to Rs 5 Lacs. It provides loans to both salaried and self-employed individuals.

Money view has a fully online process and you get the cash in your account within 24 hours. It provides loan even if you have no previous credit history and can provide loans to people with a low Cibil score (650 +) as well based on their credit policies.

To download the Money View app click here. Money View App

Paysense Loan app

Paysense is one of the leading instant loan apps in India. This app has been installed by 5 million + users. It provides personal loans in 40+ cities.

Loan tenure varies from 3 months to 24 months. The interest rates start from 13% and the processing fee charged is 2.5% + GST.

Loan are provided in the range of Rs 5,000 to Rs 5 lacs. It provides loans to both salaried and self-employed professionals.

To download the paysense app, click here. Paysense.

Moneytap Loan app

Moneytap loan app provides a credit line instead of a regular loan. This means that you will be approved a limit from which you can withdraw as much money as required from Rs 3,000 to Rs 5 Lacs for 2 to 36 months.

You would be paying the interest only on the amount that you have withdrawn and not on the full limit. It is available in 40+ cities. Money gets credited within a few hours if you do eKYC (Aadhar based verification)

The interest rates vary from 13% to 24%. To set up the credit line, the fee is Rs 499+ GST. The processing fee is 2%+ GST and would be levied whenever you withdraw money from the credit line. It only provides loans to salaried individuals.

To download the Moneytap loan app, please click here. Moneytap.

CASHe app

Cashe is a unique instant loan app in India that provides loans on the basis of customer social profile as well apart from earning potential. It is a completely digital app with loan approval and disbursement usually done in 10 minutes.

Loan tenure varies from 15 days to 6 months with interest rates starting from 15% to 28%. The processing fee is 2% for loans having a tenure of 90 days. They have different fees for different durations.

The loan is provided in the range of Rs 5,000 to Rs 2 Lacs. It provides loans to salaried individuals.

Cashe has a fully online process and you get the cash in your account within 10 minutes. It provides short term loans even if you have no previous credit history.

To download the Cashe app click here. Cashe

Credy Loan apps

Credy is one of the popular instant loan app in India. It provides loans for individuals living in the following cities – Bengaluru, Chennai, Hyderabad, Mumbai, Pune.

Loan tenure varies from 3-12 months with interest rates varying from 12-22%. The processing fee is 3%.

The loan is provided in the range of Rs 10,000 to Rs 1 Lac. It provides loans to only salaried individuals having a minimum salary of Rs 15,000.

Credy has a fully online process and you get the cash in your account within 48 hours. It provides loan even if you have no previous credit history and can provide loans to people with a low Cibil score (650 +) as well based on their credit policies.

To apply for loan from Credy, click here. Credy

Qbera

Qbera is quite a popular instant loan app in India that provides loans in various cities of India. It is a completely digital app with loan approval done instantly and disbursement usually done within 24 hours.

Loan tenure varies from 12 months to 60 months with interest rates starting from 11.99% to 35.99%. The processing fee ranges from 2% to 4%.

The loan is provided in the range of Rs 1 Lac to Rs 15 Lacs. It provides loans to both salaried and self-employed individuals.

Qbera provides loans even if you have no previous credit history or your Cibil score is less based on their credit policies provided you haven’t done any default in the last 2 years.

To take loan from Qbera, click here Qbera

LazyPay Loan apps

Lazy Pay approves a credit limit to you based on its credit policy especially for online shopping though you can withdraw the money to your Bank as well. You can withdraw as much you want within the limit.

Loan tenure varies from 3 months to 24 months with interest rates starting from 15% to 32%. The processing fee is 2% of the amount withdrawn.

The loan is provided in the range of Rs 10,000 to Rs 1 Lac. It provides loans to both salaried and self-employed individuals.

To take loan from Lazypay, download the app from here Lazypay

Early Salary

Early Salary is a popular instant loan app in India that provides very short term loans in Pune, Chennai, Hyderabad, Mumbai, Delhi NCR, Jaipur, Ahmedabad, Visakhapatnam(Vizag), Banglore, Mysore, Coimbatore, Vijayawada, Mangalore, and Chandigarh.

They use your social profile along with your monthly earning to decide whether to approve your loan application or not.

Loan tenure varies from 7 days to 12 months with interest rates ranging from 2 to 2.5% per month. The processing fee usually ranges from Rs 150 to 2%.

The loan is provided in the range of Rs 8,000 to Rs 2 Lacs. It provides loans to only salaried individuals.

Early Salary provides quick approval but does a physical check at office or residence as you choose, where one id proof is required.

To take a loan from Early Salary, click here Early Salary

Flex Salary

Flex Salary instant loan app provides a line of credit to individuals in all major cities of India.

It has flexible repayment options with interest rates of up to 3% per month. The processing fee is Rs 650 on loan disbursement. It also charges Line usage fees of approx 1.75% per month.

The loan is provided in the range of Rs 4,000 to Rs 2 Lacs. It provides loans to only salaried individuals.

Flex Salary provides quick approval and usually, money is disbursed within 24 hours.

To take a loan from Flex Salary, click here Flex Salary

Loantap

The Loantap app provides a personal loan in following cities Bangalore, Hyderabad, Chennai, Coimbatore, Mumbai, Pune, Ahmedabad, Vadodara, Raipur, Bhopal, Indore, Jaipur, Delhi-NCR and Chandigarh. They provide loans in the range of Rs 50,000 to Rs 10 Lacs.

The interest rates vary from 14% to 18%. The processing fee is 2%.

It only provides loans to salaried individuals. For the loan to be disbursed, you need to provide KYC docs to a representative who will visit you at your chosen time.

To download the Loantap app, please click here. Loantap.

Kreditbee

Kreditbee is one of the popular instant loan apps in India. The application process is fully online and paperless. The whole process to apply and disbursement of money usually takes less than 15 minutes.

Loan tenure varies from 3-12 months with interest rates varying from 24% – 36 %. The processing fee is in the range of Rs 130 – 3%. There are other charges as well like onboarding fees and document collection fees.

The loan is provided in the range of Rs 1,000 to Rs 1 Lac. It provides loans to only salaried individuals.

Kreditbee provides loans even if you have no previous credit history based on their credit policies.

To download the Kreditbee app click here. Kreditbee

Nira loan apps

Nira loan app provides a credit line instead of a regular loan in partnership with Federal Bank. This means that you will be approved a limit from which you can withdraw as much money as required from Rs 10,000 to Rs 1 Lac for 3 to 12 months.

You would be paying the interest only on the amount that you have withdrawn and not on the full limit. It is available in Bangalore, Hyderabad, Delhi, Noida, Gurgaon, Mumbai, Chennai, Pune, Kolkata & Indore.

The interest rates vary from 1.5% to 2.5% per month. There is no fee for approval of the credit limit. The processing fee is Rs 500+ GST. It only provides loans to salaried individuals.

To download the Nira loan app, please click here. Nira.

Stashfin loan apps

Stashfin provides instant personal loans in India. You need the netbanking facility of your salary account or current account for loans from Stashfin. It provides personal loans in Delhi NCR, Pune, Mumbai, Bangalore, Hyderabad, Indore, and Chandigarh.

Loan tenure varies from 3 months to 36 months. The interest rates start from 11.99% and claim to charge low processing fees.

Loans are provided in the range of Rs 500 to Rs 5 Lacs. It provides loans to both salaried and self-employed professionals. Money is usually disbursed within 4 hours.

To download the Stashfin app, click here. Stashfin.

ETMoney Loanpass

ETMoney Loanpass app provides a credit line instead of a regular loan in partnership with RBL Bank. This means that you will be approved a limit from which you can withdraw as much money as required from Rs 3,000 to Rs 5 Lacs for 2 to 36 months.

You would be paying the interest only on the amount that you have withdrawn and not on the full limit. It is available in all major cities. You can use your credit limit to withdraw money or use it as a credit card as well.

The interest rates vary from 13% to 18%. To set up the credit line, the fee is Rs 499+ GST which is currently waived off for first year. It provides loans to salaried and self-employed individuals.

To download the ETMoney Loanpass app, please click here. ETMoney.

Advantages of Instant Personal Loan Apps

  • A personal loan is the quickest way to get money and the instant personal loan app is the fastest way to get personal loans. Applying for normal personal loan in Bank may need more documentation and time.
  • Documentation is minimum and mostly digital. This reduces a lot of time doing the verification. eKYC is an example of how a person is identified and verified.
  • Timely repayment helps in building your credit score like CIBIL as well.

Disadvantages of Instant Personal Loan Apps

  • Many times, due to instant approvals and having alternative credit review leveraging technology, NBFCs provide loans at a bit higher interest rate.
  • Processing fees with the NBFCs providing instant personal loans is a bit higher than normal personal loans provided by leading Banks.
  • As you download the app on to your mobile and sometimes using your social profile, there is a risk that your personal data is shared.

Hope you get the loan of your choice soon.

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