Fastest Instant Loan App | Top 10 Fastest Instant Loan App in India | Personal Loan without Income Proof | List Of Instant Loan App
Do you require immediate cash? Instant lending apps may be the answer to your short-term monetary needs. To obtain a personal loan, you must first download these applications from the Playstore and then complete a simple procedure and document verification. After examining a number of rapid personal loan applications, we’ve compiled a list of the best instant loan app in India so you can figure out which app will get you an instant personal loan with minimal effort.
Table of Contents
What are Instant Loan Apps and How Do They Work?
Instant lending applications are mobile applications that provide instant loan services. Obtaining a loan through these mobile apps is a simple one-click process that takes only a few minutes. Furthermore, securing a loan does not require going to a typical bank.
Documents Required for App-Based Instant Loans
To apply for a personal loan through these applications, you’ll need the following documents:
1. Identity Proof
2. Proof of Address
3. A passport-sized photo
4. Account information and a statement
5. Wage slips
We’ve compiled a list of the finest instant personal loan apps available in India.
Top 10 Best Instant Loan App in India for 2021
KreditBeeKreditBee
KreditBeeKreditBee is one of the best instant loan apps for both self-employed and salaried individuals in India. You must fill out and submit an application online after downloading the app, and the money will be deposited directly into your account following approval.
Important Characteristics
1. You can borrow between Rs.1000 and Rs.2 lakhs depending on your credit score.
2. The loan’s term varies from 62 days to 15 months.
3. The monthly interest rate ranges from 0% to 2.49 percent.
4. The loan processing cost ranges from Rs.130 to Rs.850.
By using the EMI calculator on the official website, you can see how your KreditBee loan will be repaid.
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Pay Sense
PaySense, the finest app for getting a rapid loan, also offers a variety of personal loan options. You can get a loan from this app even if you have no credit history.
Important Characteristics
1. Depending on your approved credit, you can get a loan ranging from Rs.5000 to Rs.5 lakhs.
2. The average monthly interest rate is 1.33 percent.
3. The loan’s processing charge is 2.5 percent of the loan amount plus relevant taxes, or Rs.500 plus GST (whichever is greater).
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CashBean
CashBean is one of the most popular Best Instant Loan App for both self-employed and salaried individuals. This app is one of the greatest loan apps online because it requires minimal documents. It promises to deliver fast loan approval and money disbursement immediately into your bank account.
Important Characteristics
1. You can get a personal loan ranging from Rs.1500 to Rs.60000.
2. Loans have an average interest rate of 2.75 percent.
3. Depending on the loan amount, it charges a processing fee of up to Rs.3000.
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CASHe
CASHe, which was founded in 2016, is the greatest rapid loan app for salaried people. It is one of the most dependable rapid loan approval applications because it offers secured and instant loans.
Important Characteristics
1. Depending on your approved credit, you can borrow between Rs.9000 and Rs.4 lakhs.
2. The loan’s duration varies from 62 days to 1.5 years.
3. The monthly interest rate is Rs.2.75 percent.
4. The amount of the loan is determined by your take-home pay.
5. The loan’s processing charge is as follows:
| Tenure of Loan (in Days) | Processing Fee (Whichever is higher) |
| 62 days | Rs.750 or 1.25% of the loan amount |
| 90 days | Rs.1000 or 1.5% of the loan amount |
| 180 days | Rs.1200 or 2% of the loan amount |
| 270 days | Rs.1200 or 2% of the loan amount |
| 365 days / 1 year | Rs.1200 or 2% of the principle amount |
| 1.5 years | Rs.1000 or 3% of the principle amount |
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mPokket
mPokket is one of India’s top instant loan apps for students, offering quick and easy personal loans with minimal paperwork. You’re bound to stumble across mPokket if you’re seeking rapid loan apps that don’t require a wage slip.
Important Characteristics
1. You can get a personal loan ranging from Rs.500 to Rs.20,000.
2. Loans have an average interest rate of 3.5 percent.
Despite the modest borrowing limit, this rapid loan app online is great for students who can borrow without having to show proof of income. It is the greatest instant loan app without salary slip, for example, if you have been thinking, “How can I get a 5000 instant loan?”
MoneyTap
MoneyTap has grown in popularity as a result of its effective advertising and marketing strategies. It would be an injustice if we do not include it on our list of the best rapid loan apps.
Important Characteristics
1. Depending on your approved credit, you may be eligible for a loan ranging from Rs.35000 to Rs.5 lakhs.
2. Loan terms range from three months to three years.
3. The interest rate begins at a rate of 13% per year.
4. The loan’s processing cost is 2% of the loan amount plus GST.
5. Because this is a quick cash lending app, the amount withdrawn will be subject to a 15% annual interest rate.
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LoanTap
LoanTap is the greatest rapid loan app since it meets all of your personal loan needs, such as a party, a bike, and so on. It offers a variety of personal loan options from which to pick.
Important Characteristics
1. Depending on your approved credit, you may be eligible for a loan ranging from Rs.50000 to Rs.10 lakhs.
2. The average annual interest rate is 15 percent.
3. The loan processing fee is 2% of the loan amount plus applicable taxes.
EarlySalary
EarlySalary is an instant loan app that deserves to be among India’s top ten rapid loan apps.
Important Characteristics
1. Depending on your approved credit, you can get a loan ranging from Rs.5000 to Rs.5 lakhs.
2. The monthly interest rate is on average 2%.
3. The loan’s processing charge is Rs.399.
The Money View
Money View is a must-have addition to any list of rapid lending apps.
Important Characteristics
1. Depending on your approved credit, you can get a loan ranging from Rs.5000 to Rs.5 lakhs.
2. The average yearly interest rate is between 16 and 19 percent.
3. The loan processing cost ranges from 2% to 8% of the total loan amount.
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Credy
Credy is the finest app for rapid loans, just like its contemporary name suggests. Thousands of rapid loan apps for education, low CIBIL loans, refinancing, and other personal requirements have already been downloaded.
Important Characteristics
1. A loan of up to Rs.1 lakh is available to you.
2. The typical monthly interest rate is 1% to 1.5 percent. Annually, no more than 30%.
3. The loan processing cost is 3% of the total loan amount.
Bonus: Here are a few more Instant Loan Apps.
Here are some additional immediate personal loan apps to select from if you need a quick cash loan in India.
1. Dhani
2. IndiaLends
3. NIRA
4. Capital First Limited
5. SmartCoin
6. Home Credit
7. LazyPay
8. AnyTime Loans
9. Flexsalary
10. Bajaj Finserv
11. Rupeelend
12. PayMeIndia
13. StashFin
14. Mobikwik
15. ZestMoney
| # | Loan App | Annual Interest Rate or APR | Loan Amount | App Rating/5 |
| 1 | PaySense | 16% – 36% (APR) | ₹5,000 to ₹5 lakh | 4 |
| 2 | CASHe | 27% – 33% | ₹7,000 to ₹4 lakh | 3.6 |
| 3 | EarlySalary | 0% – 30% | ₹3,000 to ₹5 lakh | 4.3 |
| 4 | Nira | 24% – 36% (APR) | ₹5,000 to ₹1 lakh | 4.2 |
| 5 | KreditBee | 0% – 29.95% | ₹1,000 to ₹2 lakh | 4.1 |
| 6 | Credy | 12% – 18% | Up to ₹1 lakh | 4.1 |
| 7 | mPokket | Starting at 52% | ₹500 to ₹30,000 | 4.2 |
| 8 | Dhani | Starting at 13.99% | ₹1,000 to ₹15 lakh | 4 |
| 9 | Bajaj Finserv | 12% – 34% (APR) | ₹30,000 to ₹25 lakh | 4 |
| 10 | MoneyTap | 13% – 36% | ₹3,000 to ₹5 lakh | 4.1 |
| 11 | FlexSalary | Up to 36% (APR) | ₹4,000 to ₹2 lakh | 3.7 |
| 12 | MoneyView | 16% – 39% (APR) | ₹10,000 to ₹5 lakh | 4.5 |
| 13 | PayMe India | 18% to 42% (APR) | ₹2,000 to ₹2 lakh | 3.2 |
| 14 | SmartCoin | 0% – 30% | ₹4,000 to ₹1 lakh | 3.9 |
| 15 | StashFin | 9.99% – 35.99% (APR) | ₹1,000 to ₹5 lakh | 4 |
| 16 | HomeCredit | 19% – 56% (APR) | ₹10,000 to ₹2,40,000 | 4.3 |
| 17 | ZestMoney | Up to 36% (APR) | ₹1,000 to ₹10 lakh | 4.6 |
| 18 | IDFC First Bank | Starting at 10.49% | Up to ₹40 lakh | 3.9 |
| 19 | LoanTap | 18% – 30% | ₹25,000 to ₹10 lakh | 3.7 |
| 20 | Fullerton India | Starting at 11.99% | ₹50,000 to ₹25 lakh | 3 |
| 21 | LazyPay | 15% – 32% | ₹10,000 to ₹1 lakh | 4.4 |
| 22 | IndiaLends | Starting at 10.75% | Up to ₹50 lakh | 3.8 |
| 23 | CashBean | Up to 26% | ₹1,500 to ₹60,000 | 4.3 |
| 24 | RupeeLend | 365% (APR) | ₹10,000 to ₹1 lakh | 2.6 |
| 25 | AnyTimeLoan | 18% – 54% | Up to ₹50 lakh | 1.9 |
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FAQ’s
PaySense is a popular loan application software in India.
PaySense is a personal loan app that provides loans without the need for pay stubs.
During the lockout, PaySense and a number of other lenders are offering loans.
PaySense is one of India’s top rapid personal loan apps, providing personal loans ranging from $5,000 to $5,00,000 for terms ranging from 3 to 60 months and an annual percentage rate (APR) ranging from 16 to 36 percent on a declining balance basis.