Deep Dive: The Top 5 Instant Loan Apps In India

Having information about the best personal loan apps can help you access funds to manage your unexpected expenses. It takes only a few minutes to get approved, after which the loan amount is credited into your account. Remember that the time taken for loan amounts to get disbursed varies from one app to another. With a diverse range of options available, you are often spoilt for choice.

This abundance of choices can get confusing for those wishing to make a safe and credible choice. Here are the top 5 loan apps in India.

Also Read: How safe are loan app? 

1. Dhani

Backed by Indiabulls Ventures, Dhani provides unsecured loans ranging from ₹1,000 to ₹15 lakhs. Applicants can enjoy approval in 5 minutes, after which the money is disbursed into your account within 3 minutes, as stated by the app.

There is no physical documentation required. They have a low-interest rate of 13.99% per annum. The loan tenure ranges from 3 to 24 months.

2. Fibe

Fibe is one of the best instant loan apps in India. It is gaining popularity amongst the new salaried generation due to its quick disbursal of loans and easy-to-use interface. This is perhaps the best option if you plan to opt for safe and credible online instant loans. Fibe offers loans to customers with no credit history as long as they earn a salary of ₹15,000 or ₹18,000 per month, depending on the city they reside in.  

Those eligible can avail of loans starting from ₹5,000 to up to ₹5 lakhs at affordable interest rates. This is one of the best apps for personal loans, as you can get quick approval within minutes. 

3. MoneyTap

MoneyTap is another popular instant loan app with a paperless process. You can get a loan through online approval without any bank visit. Avail loans of up to ₹5 lakhs based on your credit score. 

However, the minimum salary requirement is high and is set at ₹30,000. The loan tenure ranges from 2 to 36 months, with interest rates going from 13% to 18% per annum.

4. KreditBee

KreditBee is an instant loan app targeted toward financially helping young professionals with a stable salary. Like the other best apps for personal loans, it has a quick application process and disburses loans within 10 minutes.

There are three types of loans provided – a Flexi Personal loan, a personal loan for salaried people and an online purchase loan. You have to be over 21 years of age and earning above ₹10,000 to be eligible for this loan. 

The loan tenure ranges from 3 to 24 months, depending on the type of loan you avail. You can opt for a loan amount ranging from ₹1,000 to ₹4 lakhs at interest rates starting from 1.02% to 2.49% per month.

5. PaySense

PaySense is also one of the best personal loan apps in India, enabling you to get access to funds instantly. The app is functional in over 60 cities in India and they offer instant personal loans ranging from ₹5,000 to ₹5 lakhs, with a repayment period of up to 5 years. 

Its easy-to-meet eligibility criteria and minimal documentation requirements make this app one of the best apps for personal loans in India. You can apply if you are an Indian citizen between the age of 21 and 60 years. 

As you can see, there are numerous apps that allow you to apply for an instant personal loan. Among the simplest and most hassle-free is Fibe, as you enjoy a fully digital loan journey with no strict criteria.  

You get the funds you need instantly and on affordable terms. To get a Personal Loan quickly, download the Instant Loan App or visit our website and register today. 

FAQs on the Top 5 Instant Loan Apps in India

Which is the best loan app in India?

There are numerous loan apps through which you can apply for a personal loan. Fibe is one of the best instant loan apps in India. It offers an easy-to-use interface that allows you to apply for the loan hassle-free. At Fibe, you can get access to funds within minutes.

What are the advantages of applying for an instant loan online through apps?

Firstly, comparing options is possible as you can choose from a list of instant loan apps and apply for a loan effortlessly. Secondly, applying for an instant personal loan through an app comes with numerous benefits. You enjoy: 

• Greater accessibility and convenience
• An easy application process
• Minimal documentation
• Quick approval
• Digital disbursals

Which app gives small loans?

You can choose to apply for a loan from various instant loan apps. The top 5 loan apps are Dhani, Fibe, KreditBee, MoneyTap, PaySense. Fibe is one of the best personal loan apps, allowing you to apply conveniently and get the funds you need instantly.