25 Best Quick Loan Apps In India

25 Best Quick Loan Apps in India 2024

Features and Benefits of the Best Quick Loan Apps in India

Here are the features and benefits of the 25 best fast loan apps in India:

1. 5oFin

5oFin is an innovative digital platform that lends against Mutual Funds. It offers speedy processing and instant approval within seven minutes. The loan amount is credited to your bank within four working hours. Applicants don’t need to submit their CIBIL score either.

• A seamless paperless process with nil pre-closure charges.
• Interest rates can be as low as 1% per month, or 11% per annum.
• Loan amount from ₹25,000 to ₹5 crore
• Repayment tenures start from 3 months to a year, thus meeting a wide spectrum of financial needs.
• Instant approval and disbursement within 24 hours.
• A processing charge of 2-3% capped up to ₹2,500 will be applied

Such a comprehensive package makes it an attractive proposition for many who would want a headache-free and quick solution using their mutual fund investments as back-up.

2. Aditya Birla Capital

Aditya Birla Capital emerges as a preferred fast loan app for individuals in search of personal loan alternatives at competitive interest rates. Coming from a reputable conglomerate, it provides an extensive range of financial solutions customized to meet individual requirements. The procedure for securing personal loans is both efficient and simple, necessitating minimal documentation, thereby rendering it an appealing option for busy professionals.

• Transfer existing personal loans or credit card balances from other institutions at preferred rates.
• Interest rates begin at 13% per annum and loans up to ₹50 lakhs.
• Flexible tenures that go up to 7 years
• Instant processing and disbursement within 24 hours
• They charge a nominal processing fee of up to 3.5%
• The loan is availed to both salaried and self-employed individuals.

Their instant loan product comes with some very distinctive features, such as top-up loans and flexible repayment options. Moreover, current customers could be entitled to pre-approved offers.

3. Buddy Loan

If you are in the market for a peer-to-peer lending platform with competitive interest rates and flexible repayment options in personal loans, Buddy Loan can be a good choice. It offers collateral-free personal loans to salaried individuals and self-employed business owners.

• Interest rates start as low as 11.99% per annum.
• Avail loans from ₹10,000 to ₹15 lakhs as per your requirements.
• Choose from a comfortable repayment period ranging from 1 to 5 years.
• Get same-day loan approval for easy, quick access to funds.
• Benefit from multiple lender partnerships and various loan options.
• Repayment terms are flexible, depending on your chosen lender.
• You can easily apply online via the Buddy Loan website or application.

4. CASHe

CASHe is another quick cash loan app that offers instant loan disbursement. Since it is an online-based service, you can apply anytime anywhere, reducing waiting periods considerably. However, the person applying for the loan should have a good credit history for favorable loan terms.

• Instant loans from ₹15,000 to ₹4 lakhs.
• Choose flexible repayments tenures of 3 to 18 months.
• Pay a Processing Fee of ₹500 to ₹1,200 depending on the loan amount.
• Enjoy competitive interest rates, set at 2.5% per month.
• 100% digital process

5. Fibe

Fibe is an online platform dedicated to salaried employees, efficiently approving loans and disbursing funds with very minimal paperwork. Moreover, customers can get instant personal loans as many times as possible.

• Loans up to Rs.5 lakhs are sanctioned.
• Get interest rates starting from 2.5% per month.
• Disbursement of a loan amount as low as 2 minutes.
• Minimum documentation, such as proof of identity and income, will suffice.

6. Finnable

It's an NBFC offering collateral-free personal loans to salaried individuals. This personal loan category caters to very specific purposes, such as education, travel, or home improvement. The organization ensures transparent terms, flexible repayment options, and tight security measures. The ease of use, rapidity in approval, and dependable customer support make it quite convenient for people looking for quick and hassle-free loans.

• Competitive interest rates with as low as 16% per annum.
• You can borrow flexibly; loan amounts can be anywhere from ₹1,000 to ₹10 lakhs.
• Pick a repayment period of up to 36 months.
• Quick approval for applicants earning at least ₹10,000 monthly.

You can easily apply by downloading the Finnable app. One may complete the loan application entirely online, which facilitates prompt processing.

7. IIFL Loan

The IIFL Loan app is user-friendly and grants access to many types of loans at competitive interest rates. This is an ideal product for customers with a stable income and good credit history who want hassle-free financing.

• Get interest rates as low as 12.75%-44% per annum.
• Avail Loans from ₹50,000 to ₹5,00,000 for Your Financial Needs.
• Self-selected time to repay between 3 and 42 months.
• Ready approval and disbursal in just 24 hours on pre-approved offers.
• Processing fee of 2% – 6% of the loan amount + GST (minimum ₹1,000).
• Penal charges in case of late payment to the extent of 2% of the outstanding EMI amount.

8. IndiaLends

IndiaLends is perfect for anyone seeking a platform that gives a wide number of lenders to compare loan quotes for the best deal. This app provides easy online personal loans at competitive interest rates, along with flexible terms for repayment, to salaried and self-employed individuals.

• Interest rates from 10.5% to 30% per annum.
• High degree of borrowing flexibility—loans from ₹10,000 to ₹70 lakh.
• Pick a repayment plan that will work for you, from 6 months to 5 years.
• Expect to pay around 2% of the amount of the loan in processing fees, along with a platform charge and late fees.
• Repay through EMIs, with terms varying based on your chosen lender.
• Apply easily online through IndiaLends' website, upload documents, and get instant approval.

9. INDIE by IndusInd Bank

INDIE is an instant small loan app to salaried individuals at extremely competitive interest rates and flexible repayment tenures. It involves minimum documentation and is collateral-free. That's good for people who want the best blend between traditional service from a bank and digital convenience for their personal loan needs.

• Get interest rates of 10.49% - 22% per annum.
• Borrow up to ₹5,00,000.
• Repayment tenures - 3 to 36 months.
• Get a loan just in a matter of hours to a few days.
• Pay a processing fee of up to 2.5% of the loan amount.
• Existing customers can also get pre-approved loans.

10. Kissht

Kissht is ideal for people who need easy EMI financing options to finance their online and offline purchases. They offer both online and offline credit or personal loans to individuals all across India, thus providing quick and hassle-free credit solutions.

• Avail interest rates between 14% to 36% per annum.
• Avail loans up to ₹2 lakhs.
• Repay between 3 and 24 months.
• Loan disbursal in 5 Minutes.
• Processing fee of 1.5% and 3.5%.
• Avail a QR-based revolving line of credit; eligibility check based on just an Aadhaar card. Pay in an EMI or in one shot.

11. KreditBee

KreditBee is good for any young professional or student looking for an instant small loan app that offers instant approvals with minimal paperwork. It offers instant personal loans to salaried and self-employed people at very competitive rates. In addition, it gives flexi-personal loans. While the product has the merit of quick approval and disbursement, the applicant needs to be aware that extra charges are accrued with the loans.

• Get 16% - 29.95% per annum flat interest rates.
• Loan Amount: Between ₹3,000 to ₹5,00,000, or more as per your eligibility.
• Choose a repayment tenure of 6 months to 2 years.
• Your loan will be processed from 10 minutes to 24 hours.
• Can be repaid via EMI or a single lump sum.
• You are eligible if you are an Indian resident, 21+ years old, and salaried or self-employed with regular income, and your credit score also needs to be good.
• You can apply on the app by submitting basic details and completing KYC verification.

12. Lazypay

Perfect for someone looking to have a hassle-free "buy now, pay later" solution for online and offline purchases. They provide quick and hassle-free personal loans digitally without physical document submission. It has 2 products: XpressLoan & Revolve.

• XpressLoan is a Buy Now Pay Later plan with multiple repayment plans, offering credit of ₹3,000 to ₹5 lakhs.
• Interest rates on XpressLoan are as low as 15%-32% p.a.
• Avail 36% to 42% annual interest rates with Revolve (monthly rolling fee).
• Choose any tenure from 3 to 60 months with XpressLoan.
• With XpressLoan also, pay up to 2% of the loan amount as the processing fee and up to 2% per month as the late payment fee.
• Revolve plan offers a credit limit of up to ₹10,000, interest-free for 15/30 days from the start.
• Revolve has no repayment term; it's a monthly rolling plan.
• You are eligible if you are an Indian citizen between 18 to 65 years of age with a valid PAN card and bank account.
• Apply by downloading the Lazypay app and filling in the online application form.

13. LoanFront

It provides personal loans, or salary advances to cater to your emergency needs before your next payday. LoanFront has become the crowning glory for one and all in need of instant personal loans with competitive rates of interest and flexible repayment options.

• Interest rates begin at 1.08% per month.
• Avail Loans from ₹1,500 to ₹2 lakh.
• Choose tenures ranging from 3 months to 24 months.
• Processing Fees: Pay between 1% and 7.5%. ₹ 100 - ₹ 1500 maximum.
• One-time lifetime registration fees have ranged between ₹100 and ₹500.
• Offers flexibility in credit amount, minimal documentation, and digital submission.
• You are eligible if you are a citizen of India with a stable monthly income of ₹15,000 or more.
• Apply now by downloading the LoanFront App and filling out the online application.

14. LoanTap

LoanTap provides pocket-friendly loan options with customized EMIs repayments. It has a very transparent loan process with no hidden charges, no pre-payment charges.

• Get loans starting from Rs.50,000 and up to Rs.10 Lakh
• Amount of Loan: Credited to your account within 24-36 hours.
• You have to be an Indian citizen, whose age falls between 23 and 60 years and earns a minimum of Rs 30,000 per month.
• You can make your EMI very affordable with a flexible repayment tenure from 6 months to 60 months.
• You may opt for an EMI-free loan or accelerated payment any time after 6 months from the date of disbursement.

15. MoneyTap

MoneyTap is the best option for everybody who needs flexible credit so that they can borrow money by need and pay back according to their convenience. Competitive personal loan rates and a very lenient flexible repayment period are now at your fingertips; it's within minutes' reach for people who are salaried.

• Interest rates vary from 13% to 26% per annum. APR: 16.99% to 32.32.
• Avail loan amounts between ₹3,000 to ₹5,00,000.
• Select tenure ranging from 3 months to 36 months.
• Avail loan amount to your account in just 24 hours.
• Processing fees could be charged up to 2.5% of the loan amount, and a late fee of up to 2% may be charged per month on the outstanding amount.
• Enjoy flexible repayment options and the feature of a credit line.
• Pay EMIs through multiple modes.
• Eligible if you are a citizen of India, aged 21 or over, have a steady source of income, and a good credit score. Apply through the MoneyTap mobile app or website.

16. Moneyview

The MoneyView personal loan app gives collateral-free loans to salaried and self-employed individuals at very competitive interest rates and flexible repayment options. More importantly, there are no foreclosure charges, though they are applicable only after a certain number of EMIs. This user-friendly fast cash loan app is great for a hassle-free experience with customized options for repayment.

• Interest rates start from 15.96% onwards.
• Avail loans up to ₹5 lakhs.
• Repay loan up to 60 months.
• Get instant approval and disbursal within 24 hours (as claimed).
• Pay up to a 5% processing fee on the loan amount; late payment charges may apply.
• Enjoy a Paperless application procedure with 100% online approval and speedy disbursal.
• Pay your EMI through online transfers, debit cards, or other modes of payment.
• Available for salaried persons who meet the minimum income requirement and a decent credit score. Apply Now online through the Money view website or mobile app.

17. mPokket

mPokket provides quick, hassle-free online personal loans to students, salaried, and low-salaried people who have minimal documentation.

• Interest as low as 24% per annum.
• Avail loans from Rs.1,000 to Rs.30.
• Opt for tenure as long as 3 months for repayment.
• Receive loan amount in account within 10 minutes.
• Pay the payment processing charges of up to INR 499 and late payment charges at the rate of 1% per day.
• Enjoy a credit limit system with flexible repayment alternatives like Lump Sum or EMIs.
• Pay EMIs using UPI or Debit Card.
• Available for Indian nationals above 18 years, holding a valid PAN card and bank account.
• Apply by downloading the mPokket app and fill in the online application form.

18. Navi

Navi could be the perfect product for any tech-savvy consumer in need of a digital-first personal loan solution without hassles. It provides instant personal loans to salaried people at competitive rates of interest, coupled with flexible repayment tenures and minimal documentation.

• Interest rates as low as 9.9% per year.
• Borrow up to ₹20 lakhs.
• You can repay in comfortable terms of up to 60 months.
• Get Instant Approval and Instant Disbursal in Minutes.
• Enjoy a 100% paperless process with video KYC and flexible EMI options.
• Only eligible in case of an Indian residence and a good credit score, whether salaried or self-employed.

19. Nira

Nira is suitable for people with short term financial needs or emergency requirements of funds. It is good for people who want speedy dispersal or want minimum documentation. Nira is in partnership with several RBI regulated NBFCs/Banks to offer instant personal loans to salaried individuals.

• The interest rates fluctuate within the range of 24% to 36% APR.
• Avail Loan up to ₹5 lakhs.
• Tenure: Choose from 3 months to 12 months.
• Loans are generally approved in less than 24 hours.
• There is no collateral and flexible repayment plan in place.
• Pay through EMI or bullet option.
• You are eligible for this loan facility if you are an Indian resident, 21+ years with good CIBIL.
• Apply by downloading the Nira app, filling in your details and uploading documents.

20. Olyv

Quick Cash loan app from Olyv caters to people who have low credit scores or who want microloans for specific purposes. It offers collateral-free personal loans at competitive rates targeted at the middle and lower-income groups. It has a seamless online process with minimal documentation.

• The interest rate is between 20% and 29.88% a year.
• Get ₹1,000 to ₹1 lakh loan amounts.
• Repayment comfortably in 12 months.
• Loan amount is sent to your account within 24 hours.
• Nominal processing fees of up to 3% of the loan amount, along with other late fees and bounce charges.
• Available if you are an Indian citizen, over 21 years, salaried or self-employed with regular income, and with good credit scores, you are eligible.
• Apply by downloading the app, submitting basic details, completing KYC verification, loan approval, and e-signing.

21. PaySense

PaySense is an online instant small loan app that caters to customers' requirements with multiple in-app options for loan amount and repayment options. Loans are processed with minimal documentation and no credit history. It offers competitive interest rates along with affordable EMIs, coupled with a flexible tenure of repayment.

• The interest rate varies from 16% to 27.6% per annum.
• Avail loans upto ₹5 lakhs.
• Select a tenure from 3 months to 60 months.
• Get a loan in minutes.
• Experience repayment feature flexibility with instant approval.
• Eligible if you are an Indian resident, 21+ yrs old with a good credit score.
• Apply by downloading the Paysense app, fill in the details, and upload documents.

22. RapidRupee

Interest rates for personal loans at RapidRupee are competitive for salaried and self-employed individuals. This is an excellent option for people who want a small, short-term personal loan with the added security of instant approval and quick disbursement.

• Interest rates range from 12% to 35.9% per annum and vary based on the loan amount and tenure.
• Avail funds from ₹1,000 to ₹60,000.
• Choose flexible tenure ranging from 3 months to 12 months.
• Get a loan in up to 30 minutes.
• Get instant approval—credit score doesn't matter, and it's for all salaried and self-employed people.
• Eligible if you are a resident India, with a stable monthly income of over ₹15,000.
• Apply by downloading the RapidRupee app, following their 4-step process, and get funds within 30 minutes.

23. Tata Capital

Tata Capital is better for people who take trustworthiness and the swiftness of the application process as a main selling point. This firm lends collateral-free personal loans to salaried individuals at very competitive rates with flexible options to repay; thus, it has built one of the most trusted names in this market.

• Interest rates as low as 10.99% per annum.
• Borrow between Rs.75,000 to Rs.35 lakhs.
• Up to a 6-year repayment tenure.
• Processing fee of INR 51 (waived off in certain cases)
• Minimal foreclosure charges.
• Get flexible repayment options, online application process, and overdraft facilities without any collateral/security; there are no charges for part payments.
• Repayment through EMI in various ways, such as ECS or cheques.
• Available for salaried individuals aged between 22-58 years.
• Minimum income of Rs.15,000 per month and having a good credit score.
• Self-employed individuals will require business stability and proof of ITR.

24. True Balance

This fast cash loan app provides instant personal loans to financially underserved individuals at higher rates for mitigating risk. Along with personal loans, it offers other value add services like mobile recharges and bill payments.

• Interest rate starting from 2.4%.
• Avail loan from ₹5,000 to ₹1,00,000.
• Tenure of 3 to 6 months.
• Get your loan in up to 5 minutes.
• Pay the processing fee of 0% to 5% as applicable based on the amount of loan and your profile.
• Enjoy services like pre-approval and a mobile wallet.
• Pay through various methods for EMIs.
• Eligibility: You should be an Indian citizen 18+ years old, with a good credit score.
• Apply by downloading the TrueBalance App, complete the required process and get your loan instantly.

25. Zype

Zype is a fast loan app offering instant personal loans to salaried individuals. It is hassle-free and requires no upload of documents. Get the loan amount in your account within minutes and pay back through flexible repayment options. Zype is ideal for borrowers looking for competitive interest rates on an easy-to-navigate, friendly digital lending platform.

• Interest rates between 16% to 36% p.a.
• Applicants can get from ₹10,000 to ₹5 lakh.
• Repay in 3 to 72 months.
• Processing fee from 1% to 5% of the loan amount, and late payment fee of 2% of the EMI amount per month.
• Zero processing fees and a pre-approved loan for existing customers.
• Available for Indian citizens, both employed & self-employed, between 21 to 65 years, with a stable monthly income of at least Rs.15,000.
• Download the Zype app and apply online.

What are the basic eligibility criteria to apply on these Quick Cash Loan Apps?

The fundamental eligibility criteria for an instant cash loan are as follows:

• Age: Normally between 21 to 65 years
• Income: The minimum elbow of income varies from one app to another.
• Employment: Both salaried and self–employed persons can apply.
• Credit Score: A good credit score is generally preferred, but certain apps may accept lower scores.
• Debt-to-Income Ratio: Some apps may check the debt-to-income ratio for assurance about repayment.
• Citizenship and Residence: You are usually required to be a citizen and resident of India.

What documents should I submit to apply on these Fast Loan Apps?

While these apps offer instant personal loans with minimal documentation, applicants have to submit a few of the basic documents for quick processing of their loans –