Many times, we need funds for some unforeseen reasons. When the situation arises, you may not find help from your friends, or relatives. What would you do if you need funds urgently, but there is none to help you? You may apply for a personal loan in the bank, but they take too much time to process your request. Well, there is a better way to get a personal loan. You won’t have to wait for a long time to get the money.
You can apply for the loan online using your mobile phone. Yes, there are multiple apps that provide a personal loan. It is less time-consuming, and you get better interest rates as well. They credit the money almost instantly. Which is the best personal loan app in India? We have shortlisted the ten best instant personal loan apps after due consideration. Let’s have a look.
|App name||Interest Rate (per month)||Minimum & Maximum Loan Amount||Rating (Out of 5)|
|Paysense||1.25 to 2.2%||Rs. 5 thousand to Rs. 5 Lakhs||4.1|
|Dhani||1 – 3.17 %||Rs. 5 thousand to Rs. 15 lakh||3.9|
|CASHe||1.2-2.2%||Rs. 5 thousand – Rs. 2 Lakh||4.2|
|MoneyTap||1.08-2.03%||Rs. 3 thousand – Rs. 5 Lakh||4.3|
|Home Credit||2.4 – 3.3%||Rs. 10 thousand – Rs. 2 Lakh||4.2|
|Nira||1.5 – 2.5%||Rs. 3 thousand – Rs. 1 Lakh||4.1|
|India Lends||0.9 – 3 %||Rs. 15 thousand – Rs. 50 Lakh||4.5|
|mPokket||Starts from 3.5%||Rs. 500 – No maximum limit||4.5|
|Money View||1.33 – 2%||Rs. 10 thousand – Rs. 5 lakh||4.3|
|AnyTime Loans||1.5 – 4.5%||Rs. 1 thousand – 10 lakh||3.2|
Paysense is one of the most popular mobile apps to get a personal loan. It helps you overcome the financial crisis you are facing and get a personal loan instantly. You can get a loan from Rs 5 thousand to Rs. 5 Lakhs without much paperwork. If you need money urgently for paying a medical bill, wedding, or meeting some other expenses for a short time this app can be of great help. The monthly interest rate is 1.25% to 2.2%. You can choose the tenure from 3 months up to 5 years. The foreclosure fee is 4% of the outstanding amount.
It is another mobile application for an instant personal loan. The app helps you get a personal loan of up to 15 lakhs instantly. The interest rate is also very attractive. It charges you interest at 1% to 3.17% per month. You can apply for a personal loan from anywhere using your mobile phone. All you need is to download the app and enter your aadhar card number. Once you place the request, they verify your details and credit the amount in 24-48 hours.
CASHe is a digital lending platform where you can get a personal loan instantly. The app provides personal loans to salaried people and businessmen. The company has disbursed a loan of about Rs. 2500 crores to more than 3 lakh customers. Applying for a loan on this app is a simple process. You can download the app, sign in and provide the necessary details. Once they verify your documents, they process the loan application. The interest rate varies from 1.2-2.2% per month.
It is another mobile app to avail of instant personal loans. You can get a loan of about Rs. 5 thousand to 5 lakhs on this app. The interest rate for a personal loan on this app is significantly low. The app charges about 1.2% to 1.5% interest per month. Applying for a loan on this app is very simple. You have to download the application and provide the KYC details. Once you provide the details, they will verify it and disburse the loan. There is no paperwork involved, and you can do everything from your mobile phone only.
Home Credit is a perfect way to get a short-term personal loan for people in the age group of 19 to 65 years. You can get a loan of up to Rs 2 lakhs without any paperwork. You have to provide only two documents, a PAN card, and your address proof to get the approval. The loan amount depends on your credit score. The company charges about 2% to 3% interest per month. If you are taking a loan for a few months, the interest rate will be calculated accordingly.
This application sanctions personal loans almost instantly. You can get a loan of up to Rs. 5 lakhs. The registration on this application is a simple process. You need to download the application and update the documents online. Once you apply for the loan, the company will check your credit score, and the money will be credited within 24 hours. The interest rate for a personal loan is 1.5% to 2.5% per month.
This app is known for lower interest rates on personal loans. It charges interest from 0.9% to 2.2% per month depending on the loan amount and your credit score. You can get a loan amount from 15 thousand to 5 lakhs. Applying for a loan on this app is a simple process, and anyone can do that. You need to upload digital copies of your details like PAN case, Aadhar card, Bank account details, etc. Once they verify the details, they will disburse the loan within a few minutes.
This app is a perfect choice for a small loan amount. It offers a loan amount as small as Rs. 500 and it can go up to Rs. 30000. It alleviates your small cash need at any point in time. mPokket provides loans to students as well. If you are a salaried person, you can apply for a loan with a PAN card and your salary slip. If you are a student, you need to upload your student identity card as well only. The monthly interest rate on this app starts from 3.3%.
The Money View app helps you get a personal loan almost instantly. It provides loans from Rs. 10 thousand to 5 lakhs instantly. The application process is completely digital. You need to download the app and provide the necessary documents like PAN card, salary slip, etc. Once you provide the details, the loan application is processed, and the money is credited to your bank account in 2-4 hours. The interest rate starts from 2% per month.
As the name suggests, this application provides a loan anytime when you need it. You can apply for the loan 24/7 on this application without any paperwork. You don’t need to provide any collateral for a loan on this app. The company charges about 2-3% interest per month. It provides loans to salaries as well as self-employed persons who have a decent credit score. Once you apply for the loan, you can get the amount within 24 hours.
When you need money desperately, you may not find help from anywhere. However, with instant personal loan apps, you don’t have to worry about money. Multiple apps provide instant loans but finding the right one is not easy. With some apps, it takes time to get the loans, or the interest rate may be much higher. So, we have listed the ten best instant personal loan apps so that you get the loan without any difficulty. You must maintain a healthy credit score to get an instant loan.