15 best instant loan apps in India 2024 for your financial needs

Instant loans apps are a quick way to get access to cash when you need it.

• By Ramneek Singh -
Last Updated: February 6, 2024

Instant loan apps can be a helpful solution if you're facing unexpected expenses such as medical bills or educational fees and find yourself short on funds. These apps streamline the borrowing process with minimal paperwork and quick processing times. If you're struggling to decide which app to choose, we've got you covered. Below, you'll find a list of the best instant loan apps, based on their reviews and ratings in the app marketplace, as well as details such as interest rates, disbursal times, tenure, and more. Check it out:

Disclaimer: A loan disbursement is entirely at the discretion of the apps. This list is based solely on the apps' popularity in India, and 91mobiles has no affiliations with them.

Best Instant Loan apps

APP NAME	NUMBER OF DOWNLOADS	LOAN AMOUNT	DOWNLOAD LINKS
KreditBee	50,000,000+	Rs 10,000 to Rs 4 lakhs	Play Store, App Store
IndiaLends	5,000,000+	Rs 10,000 to Rs 2 lakhs	Play Store, App Store
Bajaj Markets	10,000,000+	Up to Rs 50 lakhs	Play Store, App Store
PaySense	10,000,000+	Rs 5,000 to Rs 5 lakhs	Play Store
Paytm	100,000,000+	Rs 10,000 to Rs 3 lakhs	Play Store, App Store
Flipkart	500,000,000+	Rs 50,000 to Rs 10 lakhs	Play Store, App Store
CASHe	10,000,000+	Rs 15,000 to Rs 4 lakhs	Play Store, App Store
Fibe	10,000,000+	Up to Rs 5 lakhs	Play Store, App Store
LazyPay	5,000,000+	Rs 10,000 to Rs 5 lakhs	Play Store, App Store
Buddy Loan	10,000,000+	Rs 1 lakhs to Rs 5 lakhs	Play Store, App Store
ZestMoney	10,000,000+	Up to Rs 5 lakhs	Play Store, App Store
Finabble	1,000,000+	Rs 50,000 to Rs 10 lakhs	Play Store, App Store
LoanTap	1,000,000+	Rs 50,000 to Rs 10 lakhs	Play Store, App Store
mPokket	10,000,000+	Rs 500 to Rs 30,000	Play Store
Navi	10,000,000+	Up to Rs 9 lakhs	Play Store, App Store

KreditBee

• Kicking off the list with KreditBee, the app offers instant loans of up to Rs 4 lakhs provided the person is a salaried employee with a minimum monthly income of Rs 10,000.
• The loan can be applied entirely online through KreditBee's official website or app without going through a lengthy documentation process.
• Since the service is available 24x7, loans are disbursed in just 10 minutes, as claimed by the company. Users can choose loan tenures from anywhere between 3 to 24 months.
• Loan takers can opt for various repayment periods according to their preferences and capacity.

Loan amount: Rs 10,000 to Rs 4 lakhs
Interest rate: 0 percent to 29.95 percent p.a.
App rating: 4.5/5
Downloads: 50,000,000+

IndiaLends

• IndiaLends is an instant loan app that disburses loans from its partner banks such as HDFC Bank, ICICI Bank, SBI, Axis Bank, and IDFC Bank, among others.
• Upon registering on the app, users can request loans of anywhere between Rs 10,000 to Rs 2 lakhs. The interest rate on repayment of loans ranges between 10.25 percent to 29.99 percent depending on the tenure of the loan.
• With the loan availing process being fully online, users can opt for a loan at any time during the day or night. 

Loan amount: Rs 10,000 to Rs 2 lakhs
Interest rate: 10.25 percent to 29.99 percent p.a.
App rating: 4/5
Downloads: 5,000,000+

Bajaj Markets

• Bajaj Markets is a renowned name in the loan sector. Users applying for a loan through the portal can get the amount transferred into their bank account instantly within a short span of time.
• Personal loans can be availed at interest rates of 9.99 percent onwards by paying a processing fee of 0.5 percent to 2.5 percent depending on the loan amount.
• Speaking of the loan amount, users can avail loans of up to Rs 50 lakhs with a tenure period of one to six years. Do note that Bajaj may charge two percent of the loan amount in case the borrower fails to repay the loan within the due date.

Loan amount: Up to Rs 50 lakhs
Interest rate: 9.99 percent onwards
App rating: 4.1/5
Downloads: 10,000,000+

PaySense

• Next up is PaySense which allows salaried and self-employed people to fulfil their financial needs during crunch situations with loans from as low as Rs 5,000 all the way up to Rs 5 lakhs.
• A distinct feature PaySense carries is that it easily disburses loans to people who don't have a credit record or haven't taken a loan before.
• With paper documentation, loan amounts are quickly approved and credited to the borrower's bank account in a prompt manner.

Loan amount: Rs 5,000 to Rs 5 lakhs
Interest rate: 2.15 percent to 3 percent 
App rating: 3.7/5
Downloads: 10,000,000+

Paytm

• Apart from using it for making UPI and wallet payments, Paytm can also be used to avail instant personal loans of Rs 10,000 to Rs 3 lakhs using the mobile app.
• To avail a loan, all the user needs to do is enter their PAN number along with the occupation type to begin the loan release process.
• The rate of interest to be paid is shown during the application process depending on the amount being borrowed.

Loan amount: Rs 10,000 to Rs 3 lakhs
Interest rate: Show on loan application 
App rating: 4.5/5
Downloads: 100,000,000+

Flipkart

• In collaboration with Axis Bank, Flipkart has also started offering personal loans to people wanting to fulfil their financial needs. The e-commerce giants provided loans from Rs 50,000 to Rs 10 lakhs.
• The loan tenure is stated to be between six to 60 months meaning between this period, the loan borrowers can repay their loans.
• When it comes to the rate of interest, the value will be shown during the loan application process.

Loan amount: Rs 50,000 to Rs 10 lakhs
Interest rate: Show on loan application 
App rating: 4.2/5
Downloads: 500,000,000+

CASHe

• CASHe is yet another mobile application that can be used to obtain instant loan amounts. It offers loans from Rs 15,000 to Rs 4 lakhs with tenures ranging from three to 18 months.
• The service also charges a processing fee of Rs 500 to Rs 1,200 depending on the borrow amount. CASHe charges 2.5 percent of interest rest per month.
• Since it's an online-based service, loans can be applied at any time with bare minimum waiting times for the amount to be credited to borrower's bank account.
• Do note that the person applying for the loan should have a good credit history to easily process the loan application.

Loan amount: Rs 15,000 to Rs 4 lakhs
Interest rate: 2.5 percent per month
App rating: 3.7/5
Downloads: 10,000,000+

Fibe

• Formerly known as EarlySalary, Fibe is an online platform for salaried employees that seamlessly approves loans and quickly disburses money without much paperwork.
• The app claims to release loans of up to Rs 5 lakhs in under two minutes by submitting minimal documents such as identity and income proof. The borrowed money comes with 24 to 30 percent rate of interest.
• Besides that, customers can avail instant personal loans multiple times.

Loan amount: Up to Rs 5 lakhs
Interest rate: 2.5 percent per month
App rating: 4.4/5
Downloads: 10,000,000+

LazyPay

• LazyPay is a popular name in the money-lending sector that promptly approves personal loans without requiring physical documents.
• Borrowers can request loan money from as low as Rs 10,000 to Rs 5 lakhs at 18 percent interest rate per annum. As for the tenure, it can range from three months all the way up to 24 months.

Loan amount: Rs 10,000 to Rs 5 lakhs
Interest rate: 18 percent per annum
App rating: 4.4/5
Downloads: 5,000,000+

Buddy Loan

• Next up on the list is Buddy Loan which has partnered with various financial companies such as Muthoot Finance, Bajaj Finserv, and Tata Capital to serve customers with loans as per their needs and requirements.
• This loan app offers loans starting from Rs 1 lakh to Rs 50 lakhs in tenure periods of 12 to 60 months. The rate of interest stands at 9.99 percent and above on an annual basis.
• In order to be eligible to acquire loans from the app, the person needs to present proof of income for the past two years along with valid identity proof.

Loan amount: Rs 1 lakhs to Rs 5 lakhs
Interest rate: 9.99 percent onwards (per annum)
App rating: 4.4/5
Downloads: 10,000,000+ 

ZestMoney

• With interest rates starting at 14 percent, ZestMoney users can request loans of up to Rs 5 lakh through their smartphone or PC without the hassle of submitting tons of documents.
• The loan tenure can range anywhere between three to 36 months and accordingly, the monthly EMI amount is decided. The interest rates start at 14 percent per annum.
• The service is available only to those who have a ZestMoney credit limit. Signing up for the credit limit is straightforward and can be done through the platform's website or mobile app.

Loan amount: Up to Rs 5 lakhs
Interest rate: 14 percent onwards (per annum)
App rating: 3.8/5
Downloads: 10,000,000+

Finnable

• Finnable is a simple instant loan-granting app that is perfect for anyone looking to obtain loan for the first time.
• The app can be used to take loan amounts of Rs 50,000 to Rs 10 lakhs. The interest rates stand at 12 percent and can go up to 28 percent depending on the amount and tenure.
• The service claims to disburse the cash to bank accounts within five minutes, making it a reliable option for those in urgent need of money.

Loan amount: Rs 50,000 to Rs 10 lakhs
Interest rate: 12 percent to 28 percent per annum
App rating: 4.2/5
Downloads: 1,000,000+ 

LoanTap

• Yet another instant personal loan app that requires minimal documentation to release the loan amount to the borrower's bank account.
• Speaking of which, the loan amount that can be availed range from Rs 50,000 to Rs 10 lakhs and come with tenure periods of six to sixty months.
• The rate of interest that is applied to the loans varies between 12 to 24 percent.
• Unlike other loan apps, the monthly income requirement to be eligible to obtain a loan is a bit high at Rs 30,000.

Loan amount: Rs 50,000 to Rs 10 lakhs
Interest rate: 12 percent to 24 percent per annum
App rating: 3.7/5
Downloads: 1,000,000+

mPokket

• Just like other instant loan approval apps out there, mPokket offers loans only if you present a valid income proof. However, the app approves loans to people even with salaries less than Rs 10,000 per month.
• Once approved, the loan amount is received instantly in the bank account within a few hours. The maximum loan amount that gets granted is Rs 30,000.
• The interest rate can go up to four percent while the tenure period can go up to three months.

Loan amount: Rs 500 to Rs 30,000
Interest rate: Up to four percent
App rating: 4.4/5
Downloads: 10,000,000+

Navi

• Yet another instant loan app to conveniently and quickly get cash is Navi. It allows borrowers to obtain loans of up to Rs 20 lakhs right from Navi's app or website.
• The loan interest rates start at nine percent per annum with the tenure period being as long as up to 72 months.
• Do note that applicants with a decent CIBIL score and a stable monthly income will be preferred for instant loan disbursals.

Loan amount: Up to Rs 9 lakhs
Interest rate: Up to nine percent
App rating: 4.3/5
Downloads: 10,000,000+

How to apply for a loan through an app

To apply for a loan through an app, you can do the following:

Step 1: Download an instant loan approval app of your choice on your Android mobile phone or iPhone

Step 2: Once installed, open the app and proceed with the signup process by providing your name, email ID, occupation type and other required information such as bank details

Step 3: Now head over to the loan application section within the app

Step 4: Start entering the loan amount which you require along with the tenure.

Step 5: The app will automatically generate the monthly repayment amount for you

Step 6: After that, submit the application for processing. Once processed the app will convey the status of the application through email or SMS

Step 7: If the loan is successfully granted, you will get the amount in your bank account within the next couple of days

FAQs

What documents do I need to avail instant loan from loan apps?

Some crucial documents which most instant loan apps will require before granting you a loan amount include identity proof, address proof, income proof in the form of a salary slip or ITR, a bank statement, and even a credit score report in some cases.

What is the eligibility criteria to get a personal loan?

In most cases, the eligibility criteria to avail personal loans from loan apps is that you should be above the age of 18 years and be a resident of India. Besides that, you should be earning a stipulated monthly amount for which the loan providers may ask for proof in the form of pay slips or bank statements.

What happens if I am unable to pay back the loan?

In case you are unable to pay back the loan amount, you will be charged with penalties that may increase over time. Besides that, certain legal actions can also be taken against you if the loan repayment notifications are continuously ignored.