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Top 10 best instant loan app in India 2020

best instant loan app in India
Written by Deepika Gupta

Top 10 best instant loan app in India

Traditional banks take a long time to process further for personal loan applications, and money lenders are well known to charge high-interest rates making the process very dubious for us. During, whole financial setup, personal loan apps have to provide as an excellent idea to offer a safe and hassle-free for a quick cash loan in India within 1-hour. All your dreams can be completed by taking an instant personal loan. There is multiple best instant loan app in India to address your quick cash requirement effectively.

Suppose you have immediate cash requirements. The first step you would take is asking your friends or relatives for the money, but what happens if the amount is big and they do nothing. After that, You may approach banks for taking a personal loan. Banks generally takes 2-3 days for disbursal and approval of the personal loan. If your requirement is urgent or immediate, you can make use of Instant Personal Loan Apps easily.


India is changing day by day, and with it, the practices, norms, mindsets, and habits of people are changing as well. For instance, taking the best instant loan app in India is not a big headache today. Many Young Indians have been taking loans for various purposes – like studying financing a holiday, overseas, buying a car, renovating their house, and even for their wedding. To meet this specific requirement, many organizations have started offering funds to fulfill their future dreams.

The best instant loan app in India has slowly become popular today by providing many benefits they offer –low-interest rates, online credit cards, customized loans,  the simple application process, and 24X7 tracking options. Nowadays, multiple best instant loan apps in India available which offer a fast, hassle-free, and paperless, way of getting the quick process of funds to achieve an aim or during a financial emergency need.

You can opt for any of the above-mentioned apps to get funds immediately in the financial crisis and pay easily in EMIs. However, while getting a loan is easy, the borrower needs to go through the terms and conditions carefully so that there is no scope for misunderstandings and mistakes which may cause hardships later.

Eligibility Criteria of Personal Loan

  • Age Criteria: availing a personal loan a loan applier individual must choose between the ages of 21 to 60 years while a self-employed personage has to be within 25 to 65 years of age.
  • Credit Rating: The credit history of the loan applicant is a major factor that lenders would like to look into while approving any personal instant loans. The minimum preferred credit score of the loan applicant is 750.
  • Income: A personal loan applicant must be able to earn the minimum wage criteria defined by the lender and also should be able to repay the loan on monthly as per the requirement,
  • Tenure: The tenure of repayments ranges between 6 months to 5 years

Documents required for Instant Personal Loan Apps

For Instant loan app, You need the following documents to apply for a personal loan:

  • The government id proof like Aadhaar card,(PAN Card, Voter id, Driving License,), A photograph,
  • Personal Bank account details and bank statements,
  • Salary slips of your organization
  • You also need to fill in a Know Your Customer form or KYC form

All this can be done through an online process. The loan amount is decided mainly based on the merit of your salary and your credit history after looking at the various risk factors involved.

How To Get Instant Real Cash From Loan Apps?

The first thing coming in your mind before applying for the loan that how to get the instant loan online, In this digital platform everything is available at the click of a button, there is now an option to avail hassle-free instant loans. There are plenty of fintech startups that mainly focused on providing instant loans to Indian consumers. Here, we provide a full spectrum of apps in the Fintech domain.

Top 10 Best Instant Loan App in India:

There is many best instant loan app in India, from which some of the best are the following:

  1. PaySense
  2. Early Salary
  3. Indiabulls Dhani
  4. Money Tap
  5. CASHe
  6. MoneyView
  7. FlexSalary
  8. PayMe India
  9. Credy
  10. Anytime Loan


  1. PaySense

PaySense is the first best instant loan app in India to get an instant personal loan. It has partnered with Fullerton and IIFL for the disbursal of personal loans. It is Founded by SayaliKaranjkar and Prashanth Ranganathan in 2015. This app is available on Google Play Store.

You can install the PaySense app from the play store and get a personal loan for marriage expenses, buying a two-wheeler medical emergency,  or any other requirements.

The maximum amount of loan you can apply using this app is 2 Lakh. The rate of the interest rate of this app starts at a 16.8% annum. The loan amount and tenure of pay sense are decided based on the risk profile. For that, You need to submit KYC documents along with bank statements to get a loan quickly. Generally, It will take 3-5 days to get a loan using this app.

  1. EarlySalary

EarlySalary is the second-best instant loan app in India. It is projected as a salary advance and Instant Personal Loan App. Using it, You can get a loan ranging from Rs.15000 to Rs.2 Lakh using this loan app.

There is no credit history required for availing loans using this app. This app can be used at Flipkart, Amazon, and Big Bazaar for easy EMI purchase widely.

The interest rate of this app applicable to the loan amount is 2-2.5% per month, respectively. EarlySalary app can be used to avail loans at only some specific cities. For that, You need to pay a 2% processing fee for availing loans using this app for any purpose.

  1. Indiabulls Dhani

Indiabulls Dhani is the third-best instant loan app in India which is backed by Indiabulls ventures. Using it, You can get an unsecured Instant personal loan quickly using this app. The main part of this app is that there is no physical documentation required and interest rates of the app are very low at 11.99%. Personal Loans have tenure beginning from three months and going up to twenty months further.

Although, You can get a personal loan up to 15 Lakh using this app. The processing fee for loans is 5% from the overall rate. To get apply for a loan using this app, you need to download this app from the play store in your device and provide your PAN number and address for verification. After entering the specific loan amount, you will receive a loan amount in your bank account within minutes.

You can also avail of a personal loan for a sum as small as Rs. 1000/. It is counted in the category of unsecured loans. Now, It has been provided to online users by Arthashastra Fintech Pvt. Ltd.  There is a buy-now-pay-later option in this app for which you get a fourteen-day interest free window from the date you placed your order.  Payments can be made to many online merchants using this app. Loans ranging start from Rs. 1,500 and go up to Rs. 20, 000.

  1. MoneyTap

MoneyTap is the fourth-best instant loan app in India, where you pay interest only on the withdrawn amount you have taken. MoneyTap has an authentic partnership with leading NBFCs in India. Using it, You can get an instant personal loan online with zero collateral and minimum interest rates starting from as low as 13-24.3% pa for 2 to 36 months duration.

The maximum loan amount provided by this app is 5 Lakh. For that, You just need to download the app from the play store in your device and apply online by creating your profile and uploading specific documents. You can find out the pre-approved loan amount before applying for it.

MoneyTap App is essentially a money lending company with minimum interest rates, currently they servicing clients in Delhi NCR, Bangalore, Hyderabad, Mumbai, and Chennai as well as 30+ cities in India.

  1. CashE

CashE is the fifth-best instant loan app in India which provides instant short-term personal loans to young professionals based on their social profile, earning potential, and merit using its proprietary algorithm based on the machine learning platform. CASHe is generally a digital platform powered by an RBI registered with NBFC known as Bhanix Finance and Investment Limited.

This is a unique and widely used app, which considers Social Loan Quotient (SQL) of the applicant, to process the loan application further.CASHe app is completely automated and with no requirement of personal intervention and no physical documentation needed for availing a personal loan. Using it, You can avail loan from Rs.5000 to Rs.2 Lakh. The interest rate of this app is applicable on loan is 1.5% per month. Repayments can be made using this app through a bank transfer or cheque deposit every month.

  1. MoneyView

MoneyView is the sixth-best instant loan app in India which offers instant and paperless personal loans. Using this You can get a quick and easy loan by. Here, You can avail Loan up to amount Rs.5 Lakh using this app. It is entirely app-based with no physical document required for availing the loan. Its Annual interest rate varies from 16-24%. And Processing fee is in the range of 2.5-4%.


  1. FlexSalary

FlexSalary is the seventh-best instant loan app in India also known as salary advance and instant cash loans app. This app offers loans to salaried people up to 2 Lakh respectively. To apply for this type of loan via FlexSalary, you need to sign up or log in via your social account.

After filling up basic data and PAN card details in your application will be submitted for approval further. Once your loan is approved in this app you will receive an amount directly in your specific account.


  1. PaymeIndia

PayMeIndia is the eighth-best instant loan app in India. It is an innovative FinTech app which provides short term loan or quick cash support to corporate employees of the organization. This is a Fin-tech company based out of Noida, with raised $2 million from Singapore-based investors.

To provide immediate cash to salaried corporate employees, The main focus area of this app is to address the immediate cash requirement of salaried. The maximum loan amount offered by this app is 1 Lakh. The interest rate of this app applies to the loan amount is 2-6% per month.


  1. Credy

Credy is the ninth-best instant loan app in India which offers fast and hassle-free loan without any paperless process. The maximum loan amount offered by this app is nearly 1 Lakh. One drawback of this app is that it offers loans in only selected cities like Banglore, Chennai, Pune, and Mumbai. The interest rate of this app applies to the loan amount is 1-1.5% per month.


  1. AnyTime Loan

AnyTime Loan is the tenth best instant loan app in India which is online P2P lending on go platform. This app also acts as personal loan apps. It provides a loan to both self-employed individuals as well as salaried employees.


AnyTime Loan App offers unsecured loans according to your requirements. The maximum loan amount via this app is up to 10 Lakh. The annual interest rate of this app varies from 18% to 54%.

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After analyzing all about the best instant loan app in India. We reach on the conclusion that, With so many personal loan apps available in the market, the options available for quick cash loans have increased by making it easier for you to seek an urgent cash loan in minimum time. An online search and a quick comparison between the various best instant cash loan apps in India for quick cash loans online take closer a multitude of options ranging from payday loan apps in India.


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Deepika Gupta

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