Best Personal Loan Apps in India

A personal loan or line of credit can provide immense support if you need financial help urgently, an instant online personal loan app is easy to manage. If you’re confused about which loan app is better to use.

Even though there are various personal loan apps today, not everyone offers a high amount of convenience and flexibility. Here’s a suggestive list of the top 10 best instant personal loan apps in India.

Top 10 Instant Personal Loan Apps in India

Personal Loan Apps Name	Interest Rate (per annum)	Loan Amount	Playstore Rating	App Downloads
Navi	Starts at 9.9%	Up to 20 Lakhs	4.2/5	1 Crore+
MoneyView	Starts at 16%	Rs.5000 to Rs.5 Lakhs	4.6/5	1 Crore+
PaySense	17% to 28%	Rs.5,000 to Rs.5,00,000	4.3/5	1 Crore+
CASHe	27% to 36%	Rs.1000 to Rs.4 Lakhs	4.3/5	50 Lakhs+
KreditBee	13% to 30%	Rs.1000 to Rs.3 Lakhs	4.5/5	1 Crore+
MoneyTap	Starts at 13%	Up to 5 Lakhs	4.2/5	1 Crore+
Fibe (Formerly EarlySalary)	24% onwards	Up to 5 Lakhs	4.6/5	50 Lakhs+
Upwards	12% to 22%	Up to 3 Lakhs	4.3/5	10 Lakhs+
NIRA Finance	20% to 27%	Up to 1 Lakh	4.5/5	50 Lakhs+
Finnable	18% to 26%	Up to 10 Lakhs	4.5/5	10 Lakhs+

There are numerous personal loan providers through App in the market today, here is the list of 10 personal loan apps based on popularity, reviews, and other criteria. These are as follows-

1. Navi App

Navi provides an instant cash loan online to meet any kind of urgent financial requirement. Navi App rating on google playstore is 4.2*/5. You can easily avail of a loan amount of up to Rs20 Lakhs at their starting interest rate is 9.9% p.a.

• Foreclosure charges are Zero.
• It can be easily done from anywhere because the complete process is done through a digital platform.
• As per your eligibility you can choose a repayment plan.
• The loan amount will be disbursed to your account in less time.

Pros and Cons of Navi Personal Loan App as per user’s reviews are:-

Pros	Cons
The loan amount is high	Take time in the loan approval
Attractive interest rates	Improper service

2. Money View App

Money View has a rating on google playstore is of 4.6*/5, Money View offers loans to salaried or self-employed persons for amounts ranging between Rs.5,000 to 5Lakhs. The loan amount approved once will be disbursed within less time.

• The eligibility check can be completed within less time from anywhere in the country.
• Documentation process is hassle-free. You need to submit 3 documents.
• The interest rates start at 1.33% p.m. and repayment terms of up to 5 years.

Pros and Cons of Money View Personal Loan App as per user’s reviews are:-

Pros	Cons
Different credit rating models	Approved less amount than applied
Less documentation	Hidden fees or charges

3. PaySense Personal Loan App

PaySense provides personal loan to fulfill all needs from Rs.5,000 to 5 Lakhs at 17% to 28% p.a. interest rate, and their google playstore rating is 4.3*/5.

• Documents collection is easy for the comfort of the borrowers.
• Minimum monthly income for salaried is Rs.18,000 and Rs20,000 for self-employed.
• Loans are available for both salaried and self-employed persons.
• Multiple repayment options are available for personal loans.

Pros and Cons of PaySense Personal Loan App as per user’s reviews are:-

Pros	Cons
Not need a high credit score for approval	Customer support and service not too good
Various repayment options	Take more time in verification process

4. CASHe Personal Loan App

CASHe offers a wide variety of loans ranging from Rs.1,000 to Rs.4 Lakhs with a repayment tenure of up to 1.5 years and their google play store rating is 4.3*/5. You can fulfill all your financial needs with hassle-free digital loans; CASHe offers an instant line of credit.

• It is a short-term loan with repayment terms ranging from 3 months to 1.5 years.
• Good CIBIL score with the necessary documents is required.
• The minimum income required is Rs.12,000 per month.
• Processing fee may vary between Rs.500 to Rs.1200 based on the loan product.
• Pros and Cons of CASHe Personal Loan App as per user’s reviews are:-

Pros	Cons
Customer support is good	Delay in loan disbursement
Simple loan processing	Interest rate is high

5. KreditBee App

KreditBee offers different types of personal loans like- Flexi personal loans, self-employed loans, online purchase loans, and loans for salaried. These low-ticket loan suitable for emergencies or smaller expenses.

• Depending upon the type of loan product availed, borrowers can get a loan amount between Rs.1,000 to Rs.3 Lakhs.
• The interest rate can varies between 13% to 30% p.a. based on the borrower’s credit history and other parameters.
• The repayment tenure is between 2 months to 24 months, again, based on the type of loan product.
• Age limit must be between 21 years to 45 years for availing loan.

KreditBee rating is 4.5*/5 on google playstore. Pros and Cons of the KreditBee Personal Loan App as per user’s reviews are:-

Pros	Cons
Less disbursement time	Users dissatisfied with the service
Documentation is hassle-free	Difficulty in the loan approval

6. MoneyTap App

You can avail of loan amounts up to Rs.5 Lakhs without any collateral security through MoneyTap App at starting interest rate of 13% p.a. with minimum documentation.

• Flexible repayment tenures are between 2 months to 36 months.
• Borrowers will receive a MoneyTap-RBL complimentary credit card with a number of features and benefits.
• The applicant’s age limit exists between 23 to 55 years and earns a minimum income of Rs.30,000 p.m.

MoneyTap Google playstore rating is 4.2*. Here are the Pros and Cons of the MoneyTap Personal Loan App as per user’s reviews.

Pros	Cons
Borrowers don’t need to pay interest for not-used money	Users facing difficulty to reach customer care
Make repayment easily through App	App is working slow sometimes

7.  Fibe (formerly EarlySalary) App

Fibe App provides instant cash loans and instant salary advance loans of Rs.5 Lakhs based on your eligibility and loan product.

• The entire process of loan application is done online and is fully paperless work.
• A different feature of this app is that you can apply for multiple loans on the same day even if you already have a running loan.
• There are no foreclosure/prepayment charges.
• Interest rates are starts at 24% per annum.

Their rating on google playstore is 4.6*/5. Pros and Cons of the Fibe Personal Loan App as per user’s reviews are:-

Pros	Cons
The application form is short and simple.	The rate of interest is high
Apply for repeat loans any time of the day	Take time in verification

8. Upwards Personal Loan App

The Upwards rating on the google play store App is 4.3*/5. You can apply for a personal loan line of credit. You can avail of a loan amount up to Rs.3 Lakhs at 12% to 22% per annum.

• Their Low-Cost EMIs starts from Rs.2500 for a loan of Rs.1 Lakh.
• Processing fee is existing between 2% to 4% of the loan amount.
• Loan repayment tenure is up to 24 months.

Pros and Cons of Upwards Personal Loan App as per user’s reviews are:-

Pros	Cons
Credit history is not required	Information and payments details take more time in updating
Personalized offers are available	Customer don’t get good responses in assisting

9. NIRA Finance App

NIRA is an instant personal loan app that provides you with loan amounts up starts from Rs.5000 to Rs.1 lakh.

• Applicant’s monthly income should be Rs.12,000 or more.
• Borrowers must be employed for at least 6 months or more.
• There will be no prepayment charges if you prepay after 3 months of loan disbursement. You will have to pay 2.5% if the prepayment is before 90 days.
• Loan tenure is for 3 to 12 months.
• Nira offers credit to first-time borrowers without any credit history. For others, the minimum CIBIL score is required is 661.

Their ratings on google playstore are 4.5*/5. Pros and Cons of NIRA Finance Personal Loan App as per user’s reviews are:-

Pros	Cons
No hidden fees or charges	App not working smoothly
Good repayment behaviour will decrease your interest rate.	Not getting a reply immediately

10. Finnable Personal Loan App

Finnable provides instant personal loans up to 10 lakhs. Their interest rate may vary between 18% to 26% per annum.

• Repayment tenure is between 6 to 60 months.
• Interest Rate- Starts at 1.33% per month.
• Loan Processing Fees- At 4% of the sanctioned loan value.
• Interest on Overdue EMIs: 2% p.m. on the principal loan amount.
• The borrower’s age limit is between 21 to 45 years. The minimum income is Rs.15,000 per month.

Finnable rating on google playstore is 4.5*/5. A not large number of customers are using this app. Pros and Cons of Finnable Personal Loan App as per user’s reviews are:-

Pros	Cons
The loan amount is high	Slow processing
A timely EMI payment makes you eligible for rewards.	Poor service

Conclusion- There is an excess of personal loan apps in India today all offering wide-ranging features and services. But the selection of the best personal loan app depends completely on you.

Factors helpful in deciding the best loan app are interest rates, the convenient application process, the high amount of loans, services, app review, eligibility, and other factors. Must choose a personal loan that fits your current requirements. The list of apps mentioned above is the recommended app only. You need to analyze from all angles to select your lending App.