10 Best Personal Loan Apps in India

Best Overall - PaySense

PaySense Instant Personal Loan is for all of your wants and dreams that you may not be able to fulfill due to financial constraints. PaySense provides you with a quick personal loan of up to Rs. 5 lakh without any hassle, whether it's for a wedding, a foreign vacation, paying medical bills, acquiring consumer durables, or home improvement. The procedure is simple and can be conducted in the privacy of your own home. PaySense is available in more than 40 Indian cities.

Best Budget - CASHe


CASHe is a credit-enabled financial technology platform that uses its proprietary credit rating algorithm, the Social Loan Quotient, to offer a wide range of consumer lending products and services to salaried millennials, including personal loans, Buy Now Pay Later, Credit Line, payments, and transfer facilities (SLQ). CASHe has disbursed Rs 2,500 crores in loans to 3 lakh consumers, with over 70% of them returning. It is a full-fledged financial services portal that provides credit, EMI shopping, payments, and insurance services to its users.

Best Low-interest - MoneyTap

MoneyTap is an app-based credit line that allows you to borrow and repay your debts on your schedule. MoneyTap Personal Loans are available in sums ranging from Rs. 3000 to Rs. 5 lakh. MoneyTap Personal Loans are simple to apply for online and can be used to support a variety of personal necessities such as weddings, vacations, medical bills, and gadget purchases. A MoneyTap personal loan normally has an interest rate of 1.08 percent each month. MoneyTap's actual interest rate may vary depending on your credit score, repayment history, income, current debt, and other factors.

Best Instant - PaySense

As stated above, PaySense is the best application when it comes to instant personal loan approvals. Getting credit through PaySense is quick and simple, and it includes the following benefits:

  • Availment of personal Loans up to Rs. 5 lakhs instantly.

  • A completely digital process.

  • Reasonable interest rates.

  • Affordable EMIs with auto-debit and reminders.

Find Out The 10 Best Personal Loan Applications In India In 2021

A personal loan is similar to emergency finance that a borrower can use when he or she is short on cash. Such loans have no end-use restrictions, so the money can be spent on anything, including weddings, vacations, and medical expenses. For borrowers, it's like the most comfortable financial cushion.

The application and disbursement of personal loans have gotten easier thanks to technological advancements. Not only do traditional banks and NBFCs provide loans nowadays, but several mobile applications provide users with immediate personal loans. On the one hand, traditional banks take a long time to process personal loan applications and charge high interest rates, whereas personal loan applications give safe and hassle-free instant cash loans in India in under an hour.

So, the next time you're in a pinch for cash, check out one of the personal loan application possibilities on your mobile app store. Moving forward, we will present an extensive list of the top personal loan applications in India, as well as the different critical features and facts that you must understand before applying for any of these applications, in this article.

Summary Of The 10 Best Personal Loan Applications In India In 2021

Going to a regular bank when you need a quick cash loan might be time-consuming because it needs a lot of documentation. A credit card is another alternative, but the interest rates are exceedingly expensive. It can be awkward to ask your friends or relatives. Salary advance loans are not available to everyone in India. In such instances, the best choice is to apply for a personal loan. Below is a ranking of the finest personal loan applications in India, which may make the process of getting a personal loan a lot easier and more convenient. To learn more about them, keep scrolling.

S No.

Application Name

App Store Rating

Playstore Rating






Money Tap
















Home Credit




PayMe India




India Lends




Money View







A Complete List Of The 10 Best Personal Loan Applications In India In 2021

Without any further delay, let us have a look at the specifications of these 10 personal loan applications, their pros and cons, reviews, and much more to help you make a better decision. 

1. PaySense

This is one of the best instant loan apps without salary slips, and it has recently merged with LazyPay to become one of the best platforms in this field. For any work, you can acquire rapid personal loans ranging from INR 5,000 to INR 5,00,000, and you won't have to wait long for approval. The best part is that you won't have to worry about running out of time because this platform is known for approving requests quickly. What makes this platform the best personal loan app? It's because the documents can be picked up immediately from your house, eliminating the need to courier or scan for digital copies. They also provide a variety of low EMI plans that make loan payments simple and hassle-free. If you need another loan, you can simply get it done with one click since the documentation has been recorded earlier, itself.

  • Interest Rate Per Month - 1.08 to 2.33 percent

  • Maximum Loan Amount - Rs. 5,00,000

  • Minimum Loan Amount - Rs. 5,000 

  • Documentation - Proof of Identity (Aadhar card/PAN card), Proof of Address (Aadhar card, utility bills, or rental agreement), Proof of Income (bank account statement), and a Photograph

  • Features - Flexible end-user, Low-Interest rates, No collateral needed, No credit score needed, Easy documentation, Quick approvals & disbursals



The documentation process on this application is very easy and instantaneous

You will need certain documents verified, which takes a lot of time

It provides loans to the first-time loanees and people with zero credit history

You cannot take heavy loans if you have a bad credit rating

The loans can be fast-tracked and easily approved


The EMI plans are affordable and depend on the credit score


2. MoneyTap

This is one of the fastest instant loan apps in India. You may simply acquire a fast loan with MoneyTap, and all you have to do is download the mobile app. So, how does it function? To get started, you must first download the application and register on the same website. After you've registered, you'll need to fill out the KYC paperwork and wait for final approval. After that, based on your credit score, you can acquire an instant credit up to an approved amount of INR 5,00,000, which you can use to buy everyday essentials, indulgences, travel, and other things. The best aspect is that you won't have to go through a lot of paperwork or wait long periods. This makes this one of the best personal loan apps in India, and people do not hesitate to use it, as well.

  • Interest Rate Per Month - 1.08 to 2.3 percent

  • Maximum Loan Amount - Rs. 5,00,000

  • Minimum Loan Amount - Rs. 3,000

  • Documentation - Selfie, PAN card, Current address proof (electricity bill/ration card/gas bill or postpaid mobile bill/telephone bill/ broadband bill), Photo ID proof (passport/driving license/Voter ID/ Aadhar Card), Bank statements, Rental agreement, Credit card statement

  • Features - 100% paperless process with online approval of a loan, pay interest only for the borrowed amount, Flexible EMI tenure ranging from 2 to 36 months, Collateral free loan, 4 minutes approval, Secured API and interface, Variable interest rate for the borrowed loan amount



This mobile application is very well-built and customers do not face any lag while using it

The credit period differs and is maximum up to 36 months, depending on the amount

You can easily create profiles with easy KYC

The initial KYC will take time

The credit line is easily offered and can be used as a wallet


Once the instant loans are approved, you do not need to think a lot about the credit score


3. Dhani

It began as a drugstore but has now expanded to include money lending services. Dhani is one of the best personal loan apps without documents, and many outstation students rely on it to make ends meet while working part-time. You can easily obtain a quick loan of up to INR 5,00,000, with interest rates that are both handy and affordable. Every transaction will also earn you 2% cashback, which you may spend for future redemptions and services. There are no bank mandates necessary, and you can easily receive a lifetime cashback card with the help of Dhani, which is why this is the best instant loan app without salary slips. Also, you get a virtually interest-free credit line up to INR 5,00,000 and can easily choose to get a 90-day payback scheme.

  • Interest Rate Per Month - 1 to 3.17 percent

  • Maximum Loan Amount - Rs. 5,00,000

  • Minimum Loan Amount - Rs. 1,000

  • Documentation - PAN card, Address proof (passport, voter ID, driving license, Aadhar card), Bank details

  • Features - Instant money up to Rs. 5,00,000 at minimum interest, Easy EMI, Unlimited access to doctors, No processing fee & other charges, Exciting cashback, Free Dhani RuPay card, 100% online process, 24*7 customer support



Dhani has its pharmacy and money services platform integrated into one platform.

You cannot use it on all kinds of e-Commerce platforms

With Dhani, users can get faster loans with lesser EMIs and low-interest rates

The initial documentation while registration takes time

Dhani also helps in all kinds of loans and credit rating facilities for faster approval


It has the best range of cashback services


4. Nira

Nira finance is known for its instant approvals, and that is the reason why this happens to be one of the best instant personal loan apps. You can easily get higher amount loans with a simple registration, and they boast about their instantaneous loan sanctions. You can also set up auto-debits and credits through this platform, and you do not need to think about the finances or the charges against your transactions. You just need to download the instant loan app, register yourself, upload the documents and link a bank account. It will automatically assess your credit score and will grant you an instant loan without any charges. You can get up to INR 500,000 and the interest rate ranges up to 1.5 to 2.5% (monthly) depending on your score. You can also extend your credit period, which makes it the fastest instant loan app. 

  • Interest Rate Per Month - 1.5 to 2.5 percent

  • Maximum Loan Amount - Rs. 5,00,000

  • Minimum Loan Amount - Rs. 3,000

  • Documentation - Recent payslip, Last 3 months bank statement, PAN card, Photograph, Identity proof, Address proof

  • Features - Quick disbursal, Low-interest rates, Easy repayment, Flexible schedule, Supportive customer service



It provides 100% paperless documentation for loans

The higher amount of approvals take time

You can get the fastest instant loans up to INR 5,00,000 in 3 minutes

You need to have proper documentation and a bank account with KYC

You only pay interest on the money utilised


You do not need a credit score to apply


5. CASHe

CASHe has established itself as the best personal loan app, and the UI/UX it has to offer for its application confirms this. You can easily log in and register on the app, and the dashboard contains all of the information you'll need to get a fast loan. You can choose from a variety of loans with a maximum amount of INR 500,000 and various interest rates and repayment terms. You can also make a direct deposit into the associated bank account. You can also set up direct auto-debit for loan interest payments, which eliminates the need to visit the platform each time. There are also Buy Now Pay Later partnerships with Flipkart, Amazon, Big Basket, and others, and you may choose to guarantee your debts with insurance policies.



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