10 Best Personal Loan Apps in India (2023)


Financial emergencies are unforeseen events that may occur unannounced. It may arise due to a medical emergency, sudden job loss, death in the family, etc. Individuals can meet these unexpected emergencies with instant personal loans. These loans are easily accessible with minimal paperwork requirements and are instantly disbursed. Lending institutions are embracing digital transformation to advance their businesses. With numerous lending institutions providing personal loans through their mobile applications, it takes thorough research to identify the best loan apps in India. In this article, we will look at the ten best personal loan apps in India and their features.

Personal Loan

10 Best Personal Loan Apps in India.

Many lending institutions are offering personal loans in India. Below, we have provided the top ten such companies:

1. Instant Personal Loan App is an offering of Fullerton India, an RBI-registered lending institution. It provides instant personal loans within a day. The whole loan application process is simple and happens online. Fullerton India Instaloan App offers a flexible loan repayment schedule from 12 to 60 months.

Annual Percentage Rate (APR): Starting from 11.99%
Least Loan Amount: Rs. 25,000
Highest Loan Amount: Rs. 25,00,000

2. Bajaj Finserv app provides personal loans to salaried and self-employed individuals at an affordable interest rate. It has a repayment tenure lasting anywhere from 12 to 84 months. An amount, ranging from Rs.500 to Rs. 2000, is charged as a processing fee.

Annual Percentage Rate (APR): 12% to 34%
Lean Loan Amount: Rs. 30,000
Highest Loan Amount: Rs. 25,00,000

3. Dhani App provides personal loans through Dhani Loans and Services Limited, an RBI-registered NBFC. Besides this, they offer credit facilities up to Rs.50,000 at a zero interest rate. This app also features other facilities like shopping, trading, bill payments, etc.

Annual Percentage Rate (APR): Starting at 13.99%
Least Loan Amount: Rs. 1,000
Highest Loan Amount: Rs. 15,00,000

4. LoanTap provides customized personal loans within 24 hours. It offers a flexible repayment plan, ranging from 3 to 60 months. Indian residents above 21 years of age and earning a minimum of Rs. 30,000 per month are eligible for personal loans from LoanTap.

Annual Percentage Rate (APR): 18% to 30%
Least Loan Amount: Rs. 25,000
Highest Loan Amount: Rs. 10,00,000

5. ZestMoney has partnered with registered lending institutions to provide personal loans. It does not charge application, processing, and pre-closure fees. A credit of up to Rs. 2,00,000 is disbursed with no credit requirement. Additionally, it provides a buy now pay later (BNPL) option on various products.

Annual Percentage Rate (APR): Up to 36%
Least Loan Amount: Rs. 1,000
Highest Loan Amount: Rs. 10,00,000

6. MoneyTap provides loans to salaried individuals with a minimum salary amount of Rs. 30,000 each month. The interest rate charged depends upon the individual’s risk profile. Borrowers have to pay interest only on the amount drawn. It has a flexible repayment period from 3 to 36 months.

Annual Percentage Rate (APR): 13 % to 36%
Least Loan Amount: Rs. 3,000
Highest Loan Amount: Rs. 5,00,000

7. PaySense offers personal loans to salaried professionals. For Delhi and Mumbai-based users, the lowest salary should be Rs. 18,000 per month. For other locations, the net monthly salary should be more than Rs. 15,000.

Annual Percentage rate (APR): 16% to 36%
Least Loan Amount: Rs. 5,000
Highest Loan Amount: Rs. 5,00,000

8. Money View allows salaried and self-employed individuals to avail of its personal loan product. It offers flexible loan repayment tenure, ranging from 3 months to 5 years. It has an age limit for applicants; 21 to 57 years old.

Annual Percentage Rate (APR): 16% to 39%
Least Loan Amount: Rs. 10,000
Highest Loan Amount: Rs. 5,00,000

9. Stashfin is a product of Akara Capital Advisors, an RBI-registered lending institution. It claims to disburse the loan amount within 5 minutes of approval.

Annual Percentage Rate: 9.99 to 35.99%
Least Loan Amount: Rs. 1,000
Highest Loan Amount: Rs. 5,0000

10. CASHeprovides personal loans facility to salaried individuals. To be eligible, individuals must take home a minimum amount of Rs. 12,000 per month.

Annual Percentage Rate (APR): 27% to 33
Least Loan Amount: Rs. 7,000
Highest Loan Amount: Rs. 4,00,000


Instant loans are easily accessible by the masses. It can lead to financial ruin if not appropriately regulated and handled. Avail of a personal loan facility only from an RBI-registered lending institution. Research and compare the rates offered by each of the ten best personal loan apps before taking out an instant personal loan.


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