A Guide to Instant Personal Loan Apps in India

By admin | Oct 4, 2019

Gone are the days when loan seekers were at the mercy of patience testing banks and dubious moneylenders. With the myriad personal loan apps operating in the Indian market, it is quite a task to go about comparing them. We have curated a list of the best of personal loan apps to make it easier for you to decide.




 Credit Line: Rs. 2500- Rs. 1Lakh, Interest rate : 2-3% p.m.


NIRA’s goal is to provide tension free loans to low income salaried individuals who are neglected by banks and other financial institutions. With NIRA you don’t need a credit history to avail a loan. A monthly income of only Rs.12,000 is required to be eligible. Interest rates start at 2% which is one of the lowest in the market and it allows you to choose a  tenure anywhere between 3 -12 months to repay your loan. 

NIRA’s services are available in over 140 cities across 12 states. NIRA is available for your Personal Loan needs in Bangalore, Chennai, NCR, Hyderabad, Kolkata, Mumbai, Coimbatore, Pune and many more.

Why should you download NIRA Loan App?

  • Once approved, you can take instant personal loans at any time, anywhere.

  • You only pay interest on the amount you withdraw.

  • There will be no cost for sanctioning of the Credit limit.

  •  Cash is disbursed to your bank account within 1-2 days.

  •  Good repayment performance can be rewarded with higher credit limits.


How NIRA is different?

With NIRA, interest is calculated with reducing balance method. So you pay interest only for the remaining amount of each month. For example, 


You take a loan of Rs. 1 Lakh, at 2% interest for 12 months.

Using Balance Reducing method,

Monthly EMI

Total amount in 12 months

Total amount paid in interest

Rs. 9455.96 

Rs. 9455.96 x 12= Rs. 1,13,471.52

Rs. 13,471.52

So, effectively you’re paying only about 13.5% of the principal amount in interest.


If the interest had been fixed, it would be 24% of the principal amount i.e. Rs.24,000 which is almost twice of what you would be paying with NIRA. 

 NIRA has a Google Play rating of 4.3 with close to a million downloads.     

 Download Now for No Tension Loans 



2. Indiabulls Dhani   

Credit Line : Rs. 1000- Rs. 1 Lakh, Interest rate: 1.5- 3.17% p.m.

Dhani allows you to avail of loans with minimal documentation. Both salaried and self-employed individuals are eligible. Loans can be repaid within a tenure of 3-36 months. The application and disbursal can be completed in just a few minutes. 


It has a Google Play rating of 3.8 with over 10M downloads. Download the app here.


3. KreditBee

Credit Line: Rs. 1000 - Rs. 1 Lakh, Interest Rate: 2-3% p.m.

KreditBee is one of the more popular apps for young professionals. Both salaried and self-employed loan seekers are eligible. You will need your PAN card and Aadhar/Voter ID/Passport. The process is completely online and once approved, the amount will be disbursed within a few minutes.


It has a Google Play Store rating of  4.4 with over 10M downloads. Download the app here.


4. Money View

 Credit Line: Rs. 10,000 - Rs. 5 Lakhs, Interest Rate: 1.33 - 2% p.m.

Money View provides personal loans to salaried individuals with a minimum income ranging from Rs. 13,500 - Rs. 25,000 per month, based on their location and credit scores. Money View requires you to upload  your address proof, identity proof, income proof and bank statement( 3 months) before your loan can be approved.


It has a rating of 3.9 on Google Play with over 10M downloads. Download the app here.


5. CASHe 

Credit Line: Rs. 5000 - Rs. 2 Lakhs, Interest rate: From 1.75% p.m.

CASHe is another app-based instant loan app that is aimed towards salaried millennials. The minimum salary required to be eligible for a loan is Rs. 15,000 per month. You will need PAN card, Aadhar Card, salary slip, bank statement, address proof, and company ID.


It has a Google Play rating of 3.9 with over 1M downloads. You can download the app here.




Credit Line: Rs. 1000- Rs. 60,000 , Interest rate : up to 33% per annum.

CashBean is an instant personal loan app that requires no credit history to be eligible. The only documents required are PAN card, Aadhar card, and a selfie. Indians individuals from 21-56 years of age with a monthly source of income can avail loans from CashBean. Tenure ranges from 91 days to 365 days.


CashBean has a Google play rating of 4.3 with over 10M downloads. You can download the app here.


7. Early Salary

Credit Line: Upto 2 Lakhs    Interest rate: 24-30% per annum 


Early Salary is another popular quick loan app among working professionals. A minimum salary of Rs.15,000 monthly is required to be eligible. The documents required are PAN card, Aadhar card, Address proof and bank statement.


The app has a rating of 4.3 on Google Play with over 1M downloads. You can download it here.


8. LazyPay    


Credit Line: Rs.10,000 to 1 Lakh  Interest rate: 15% to 32% per annum

LazyPay is not just a cash loan app. Their pay later feature has been integrated into a variety of apps and websites. So you can shop and pay your bills using the credit limit assigned to you without a credit card. They do provide a personal loan as well. The process takes just a few minutes with minimal documentation.


LazyPay has a 4.2 rating on Google Play with over 1M downloads. You can download it here.


9. MoneyTap


Credit Line Rs. 3000-Rs. 5 Lakhs     Interest rate: 1.08-2.03%

MoneyTap is a personal loan app that provides a line of credit to customers on a no-usage-no-interest basis. Address proof, ID proof- Aadhar/PAN card and work email are required to apply for a loan. Both salaried and self-employed citizens of India with a minimum monthly income of Rs. 20,000 are eligible.


MoneyTap has a rating of 4.3 on Google Play with over 5M downloads. You can download it here.


10. Avail Finance

Credit Limited: Rs.3000-Rs.40,000  Interest rate: 2% flat per month

Avail is an instant cash and personal loan app for both salaried and self-employed Indians. The repayment period is up to 8 months. The documents required are Aadhar Card (front and back), PAN Card, bank statements from the past 4 months (with account details and salary credit visible), Current Address Proof (which could be your rent agreement, utility bills, etc.) and a real-time photograph in the form of a selfie.


It has a rating of 3.9 on Google Play with over 1M downloads. You can download the app here.


The instant personal loan market in India has seen unprecedented growth in just a couple of years.  This list is by no means exhaustive; there are many online loan apps out there that are not covered in this article. However, the best app for a quick loan is NIRA. A quick and easy interface, backed by a dedicated team that believes in putting the customer first will ensure that your financial troubles are resolved in a timely and responsible manner.




5 + 4 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.