11 Best Loan Apps in India

Best Loan Apps in India

Over the past few years, taking loans has become a common practice. People are reaching out to banks to take loans for various purposes like studying, financing a holiday, marriage, renovating a home, buying a car, and more. To fuel the dreams of today’s population and help them accumulate funds, several organizations are coming forward to lend money. As the mindset regarding the loan has changed, it has also moved from traditional applications to digital loan apps.

In today’s day and age, loan apps have gained immense popularity and have become a go-to platform during financial emergencies. They offer loans at the lowest time possible and without any lengthy documentation.

To introduce you to the world of loan apps and help you find the best option, we have curated this article. Give it a read and learn about some of the best loan apps in India.

Benefits of Using a Loan App

There are several benefits and traits of loan apps that make them a good option than going to the branch and applying for a loan. Some of the benefits of choosing a loan app are:

  • Quick processing of the loan:

Online loan apps take lesser time to approve the loan and make funds available. Traditional loan applications take a few days or even months to complete the process. However, using a digital platform, the process gets completed in a few hours. 

  • All-time, anywhere accessibility

Loan apps allow users to apply for loans anytime and from anywhere. Unlike a physical loan application, the process is not time-bound or does not require you to look for a nearby branch and pay a visit. This saves time and lets you perform the process at your convenience. 

  • Hassle-free application

Using a loan application is a hassle-free process. You are not required to visit branches and stand in long queues to fill the application. You can simply download the app, sign up with your details, upload the document, and wait for the approval. 

  • No credit history required

The majority of the best loan apps do not demand a credit history or any sort of evidence. Some of them even provide funds without mortgaging anything. All you need is to meet the eligibility criteria and proffer the required documents. Looking for the best kinds of kreditbee loan app review? Here is our ultimate guide for you.

Factors We Considered While Choosing the Best Loan Apps

With the rise in consumer awareness and adoption of new technology, the loan market has expanded and welcomed so many new loan app players. While picking the best options was a difficult task, with the help of a few factors, we were able to narrow down the list to the 11 best loan apps. Factors that helped us in the selection are:

Rate of Interest

Interest rate is an important factor to consider as it helps decide the repayment amount. Especially in the case of loan apps, the interest rate is usually high and gets accumulated if you miss a payment. This is why we picked the apps that offer lesser interest rates and are more reliable. 

Repayment Schedules

The best loan app is one that has a flexible payment schedule and offers 60 days to 5 years to repay the loan. Short repayment time makes it difficult to pay the high amount and might impact the credit history or rating. So, we tried to seek applications that offer sufficient time to repay the loan without impacting monthly expenses. If you like to read about this topic, may we also suggest our Review of zestmoney loan app.


When selecting an online platform, the time processing time of documents is a must consider. It will help decide the time it will take to approve and disburse the money. While the timing is a personal decision and depends on the urgency of the loan, we tried to pick the apps that have a high processing speed of paperwork. 

List of Top 11 Loan Apps in India

1. PaySense

PaySense Loan App
PaySense (Source: PaySense)

Founded by Prashanth Ranganathan, PaySense is a simple, accessible, and transparent loan application that has partnered with leading NBFCs to provide you with a loan instantly.

With quick approvals, paperless documentation, no collateral requirement, and more, taking a loan was not this easy as it is with PaySense. Wondering where to get the review of simpl loan? Read our list to find out.


  • An easy and quick loan from Rs 5,000 to Rs 5,00,000 to fit all your needs
  • One-time digital KYC and signing of documents
  • No credit history requirement makes it a good choice for new credit and lending system users
  • Loans are available both for salaried and self-employed applicants


  • Low-interest rates
  • Instant process
  • 100% Safe & Secure
  • Flexible EMI tenure


  • Takes slightly more time than other loan apps

2. CASHe

CASHe Loan App
CASHe (Source: CASHe)

An app-based digital lending platform, CASHe is a powerful platform to avail loans during an emergency or financial crisis. It provides multiple loans to fulfil each and every need and turn your dream into reality.

The application is available both for Android and iOS users and provides loans of Rs 1,000 to Rs 4,00,000 instantly with easy and quick documentation. 


  • Flexible repayment tenure of up to 1.5 years
  • Allows safe and secure money transfers with a click
  • Hassle-free insurance policy for protection against job loss and health concerns
  • Highly compatible application with top-notch platforms like Flipkart, Myntra, Amazon, Urban Company, etc.


  • Round-the-clock service
  • Quick disbursal of loan
  • Flexible EMI tenure
  • One-time approval for all loans


  • A good credit score is mandatory to avail loan

3. Nira

Nira Loan App
Nira (Source: Nira)

Now living life on your own terms and fulfilling all your dreams is easy and accessible with the Nira loan app. It is an app that is known for instant approvals and for providing a higher amount of loans with an uncomplicated process.

Using this app, you can get up to Rs 1 lakh loan in just 3 minutes. This makes it one of the fastest loan apps in India. In case you want to know about epaylater app, we have a curated list for you.


  • It does not require you to have a CIBIL score to apply for the loan
  • Flexible repayment tenure that varies from 3 to 12 months
  • The app accepts applications from all over the country
  • You can setup auto-debits and credits using the application


  • Low-interest rates
  • Quick customer service
  • 100% paperless documentation
  • Interest-only on the utilised amount


  • Available only for Android users

4. Home Credit

Home Credit Loan App
Home Credit (Source: Home Credit)

One of the oldest loan apps in India, Home Credit is a perfect pick for people of age 19 to 65 to get short-term loans instantly. It requires the users to submit just 2 documents which simplifies the process and makes the application super easy.

Along with quick, easy, and convenient loans, Home Credit welcomes newbies and does not require a credit history for approval. So, download this app and enjoy loans at your fingertips. 


  • Effortless EMI repayment via different modes like online, through an app, or via authorised collection centres
  • Easy account management and loan status tracking with incredible features in one place
  • Exclusive loan offers are personalised for every user.
  • Compatible with top brands in India like Oppo, LG, Haier, Nokia, etc.


  • Easy-to-install app
  • Flexible EMI plans
  • No hidden charges or cost
  • Secure process


  • 90 days gap between two loan applications

5. PayMe India

PayMe India Loan App
PayMe India (Source: PayMe India)

PayMe India is another fin-tech company that provides instant personal loans anytime, anywhere, with no hassle. It offers loans from Rs 2,000 up to Rs 2 lakh to cater to all the short-term financial needs and increase the affordability of the purchase.

Also, the app features swift approval of the application, which is speedy and trustworthy to ensure that you get money in your account instantly. 


  • A reliable and quick process that takes place entirely through the app
  • You can check your credit health report (CIBIL) for free, which is worth Rs 1,500
  • Along with the loan, you can reach out to experts for advice on different financial needs
  • The app is available for download on both Android and iOS devices


  • Immediate cash proposition
  • Flexible repayment plans
  • Attractive interest rates
  • Easy login and usage of the app


  • The total amount should be repaid within 2 years

6. Money View

Money View Loan App
Money View (Source: Money View)

With a hassle-free application process and unparalleled range of features, Money View has become a well-known loan app in the country. It provides instant loans from Rs 5,000 to Rs 5,00,000 with minimum documentation and in just 24 hours.

Using the app, you can check your eligibility in 2 minutes and borrow the sum instantly.  


  • Easy EMI with flexible repayment terms of up to 5 years
  • From application to repayment, the entire process is paperless and hassle-free
  • You can perform the eligibility check in a couple of minutes anytime and from anywhere
  • Follows the credit-assessment model that offers loan even to those who has a low credit score


  • No hidden charges or costs
  • No collateral requirement 
  • Reliable and quick 
  • Lower interest rates


  • High processing fee starting at 2%

7. mPokket

mPokket Loan App
mPokket (Source: mPokket)

Now avail instant loans with the mPokket. It is one of the best and most renowned loan apps among college students.

The app focuses on providing short-term, low-interest rate loans to students and young salaried employees to help them with their daily needs or overcome the cash crunch at the end of the month. This makes it a handy companion in dealing with all the situations. 


  • Flexible loan amounts from Rs 500 to Rs 30,000 that get deposited in the bank account within minutes of approval
  • No sacrifice of personal savings or valuable assets for applying for a loan
  • Account approval is a one-time activity and does not require to be done repeatedly.
  • You can repay the loan within 3 months via Paytm, Debit Card, and UPI.


  • Easy and quick application process
  • No paperwork required
  • Dedicated support at any time 
  • Minimum documentation


  • Not available in all locations

8. ZestMoney

ZestMoney Loan App
ZestMoney (Source: ZestMoney)

ZestMoney is India’s largest and fastest-growing fin-tech company that makes life more affordable with its technology-led solutions. Its loan app is a quick way to get an instant loan with no joining fees or hidden charges.

Payment through ZestMoney is accepted at over 10,000 online stores and 75,000 physical retail stores, making it the right choice to get loans. 


  • Up to Rs 2 lakh personalised credit limit that can be paid in a tenure of 3 to 12 months
  • The 3-step approval process, which is completely paperless and is easy to perform
  • 0% interest and no processing fee on the loan if you agree to pay in 3 months
  • You can break down the total loan amount in easy EMIs even without having a credit card


  • Transparent fee structure
  • Exclusive coupons and gift cards
  • Credit history is not mandatory 
  • User-friendly mobile application 


  • You cannot change the repayment date 

9. KreditBee

KreditBee Loan App
KreditBee (Source: KreditBee)

Trusted by over 5 crore Indians, KreditBee is another one of the best loan apps for instant loans. Using this app, you can get from Rs 1,000 to Rs 3 lakh by filing documents online.

The distribution of a loan takes hardly 10 minutes, and the amount gets transferred directly into the bank. Being the fastest app, you must try KreditBee in case of any financial emergency. 


  • There are loans for multiple purposes and are available at lower interest rates.
  • No collateral is required to apply for the loan using KreditBee
  • You need to repay the loan within 3 months to 12 months or 24 months, depending on the loan
  • E-voucher loans from Rs 2,000 to Rs 1,50,000 are available for a seamless shopping experience 


  • Fast processing and loan disbursal
  • Flexible EMI tenure
  • Safe and secure processing
  • Minimal processing charges 


  • One user can avail only one loan at a time

10. Early Salary

Early Salary Loan App
Early Salary (Source: Early Salary)

One-stop solution for all your financial needs, Early Salary is an incredible app that will help you sail through difficult moments. Using this app, you can take from Rs 5,000 to Rs 5,00,000 instant loan by filling out a few details online.

It is one of the most user-friendly apps that will provide you with a loan at a minimal processing fee and no extra charges.


  • There is an effortless application process that takes 10 minutes to complete
  • Transactions above Rs 500 can be converted into easy EMIs that you can repay anytime at no cost.
  • There is no hidden cost or charges, and you are required to pay interest only for the number of days you use the money.
  • The application is available both for Android and iOS devices. 


  • Fully digital process
  • Available 24×7
  • No prepayment charges
  • Minimal interest rate 


  • The loan is granted only to people with a good credit score.

11. SmartCoin

SmartCoin Loan App
SmartCoin (Source: SmartCoin)

SmartCoin is India’s most trusted lending platform that allows you to get loans anytime and from anywhere. Using this digital platform, you can apply for a loan in just a few minutes by filling in your basic details and uploading a few documents.

Once the loan gets approved, SmartCoin transfers the amount directly to the bank in a couple of hours. 


  • An affordable short-term loan with flexible repayment options 
  • You can get a loan of Rs 1,000 to Rs 70,000 at lower interest rates
  • There are different modes of repayment like bank transfer, UPI, Debit Card, Net Banking, and Wallet
  • You can earn reward points by completing different tasks on the app that you can use to get discount 


  • No minimal salary limit
  • Hassle-free application 
  • Auto-debit option available 
  • One-time application 

Final Word

Today, there are over 20-30 loan apps in the market that gives different types of loans with documentation and verification performed digitally. The majority of these applications have a high degree of convenience and flexibility and come with similar terms and conditions, which makes choosing the best option a difficult task. 

However, we have tested and reviewed all the applications and picked the 11 best options for you. Among all the apps, we personally loved using Nira and ZestMoney because of their super-quick disbursal of loans and easy application usage. However, we recommend you check out the entire list and choose the one that suits your loan requirements. 


Which is the best app to get an instant loan in India?

The choice of the best loan app is highly personal. It depends on your loan needs, repayment capacity, and emergency of the funds. However, we personally loved using Nira and ZestMoney because of their super-quick disbursal of loans and easy app usage.

Which app gives the fastest loan?

Nira is known for being the fastest loan app in India that transfers the funds within 3 minutes of loan application approval. 

Are online loan apps safe?

Yes, loan apps are considered to be safe. They work in association with authorised NBFCs or financial institutions or banks, making them a safer option to avail loans.

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