Personal Loans – Best Instant Personal Loan Apps in India


oi-Ajeeta Bhatia


In India, a new set of mindsets, practices and habits towards financial goals are rapidly emerging. People no longer hesitate to take out a personal loan for an emergency or to meet a short-term need, as long as there are no end-use restrictions or collateral attached. Traditional banks take a long time to process these personal loan applications, and lenders charge exorbitant interest rates, making the process extremely risky. Personal loan apps have emerged as a great idea in all this financial setup to provide safe and hassle-free instant cash loans in India within 1 hour. Take a look at the list of best personal loan apps.


PaySense, one of the best instant personal loan apps in India, has an app as well as a website where salaried professionals and self-employed people can apply for instant loans. It’s one of the best instant loan apps that doesn’t require a payslip, and it recently merged with LazyPay to form one of the best platforms around. The best part is that you won’t run out of time as this platform is known for approving requests quickly.

  • Interest rate – 1.4 to 2.3% per month
  • Maximum Loan Amount – Rs. 5,00,000
  • Minimum Loan Amount – Rs. 5,000

Bajaj Finserv

Bajaj Finserv, one of the most prominent personal finance brands, has been present in the country for over a decade. Bajaj Finserv is one of the best lending apps in India offering a wide range of services. Bajaj Finserv offers personal loans which are approved and disbursed within 24 hours. Personal loans are available with the option to pay interest-only EMIs, which can reduce your monthly payments by up to 45%.

  • Interest rate – 12-34% per annum
  • Minimum loan amount: ₹30,000
  • Maximum loan amount: ₹25,000,000

Personal Loans - Best Instant Personal Loan Apps in India

Lazy Pay

LazyPay is one of the most popular financial apps in India, powered by PayU, the same company that acquired PaySense. It allows fast and secure processing of online loan applications. To determine loan eligibility, the LazyPay app only requires your mobile phone number. LazyPay disburses over a million loans each month. Its main products are low cost EMIs and instant personal loan of up to 1 lakh through a simple digital process with minimal documentation.

  • Interest rate 15- 32% per annum
  • Minimum loan amount: ₹10,000
  • Maximum loan amount: ₹1,000,000


Dhani is one of the best personal loan apps that lets you apply for a loan anytime, from anywhere and for any reason. You can get an unsecured loan quickly without any physical documentation. Many distant students who work part-time depend on it to make ends meet. You can easily get a quick loan of up to Rs.5,00,000 at convenient and affordable interest rates. Each transaction earns you 2% cashback, which you can use for future trades and services. You can get instant loan up to 15 lakh at 12% interest rate.

  • Interest rate – 13.99% per annum
  • Maximum Loan Amount – Rs. 15,00,000
  • Minimum Loan Amount – Rs. 1,000


MoneyTap is one of the easiest and fastest instant loan apps in India. It facilitates obtaining a quick loan; all you have to do is download the mobile app. Download and register, after registration complete KYC documents and wait for final approval. On the other hand, depending on your credit score, you can get instant credit of up to Rs.5,00,000 which you can use to purchase daily necessities, indulgences, travel and other items .

  • Interest rate – 13% per annum
  • Maximum Loan Amount – Rs. 5,00,000
  • Minimum Loan Amount – Rs. 3,000

Personal Loans - Best Instant Personal Loan Apps in India


CASHe has established itself as the best personal loan app. Its app makes it easy to log in and register, and the dashboard has all the information you’ll need to get a quick loan. You can choose from a range of loans with a maximum loan amount of Rs.4,00,000, as well as varying interest rates and repayment terms. You can also deposit funds directly to the associated bank account. You can also set up direct debit for loan interest payments, saving you from having to visit the platform each time. CASHe is an app-based digital lending platform that offers short-term personal loans for a variety of financial needs, but only for employees.

  • Interest rate – 2.5% per month
  • Maximum Loan Amount – Rs. 4,00,000
  • Minimum Loan Amount – Rs. 1,000

Article first published: Saturday, November 19, 2022, 10:10 p.m. [IST]

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