Instant loans play an important role in fulfilling the immediate financial needs of individuals. Whether it is a medical emergency or any other expenditure, people need cash to fund their needs instantly. Taking a loan from a bank is a time-consuming and lengthy process. That is where instant loan apps come into the picture.  People can get a loan without salary slips and with minimal documentation using these apps. Let us now discuss the features of the 10 best instant loan apps in India without salary slip, their features, and their benefits.

List of 10 Best Instant Loan App Without Salary Slip

1. MoneyTap

Key Highlights 

Loan Amount 

Up to Rs. 5 lakhs 

Interest rates 

1.08% to 2.3% per month 

Loan Tenure

Up to 36 months 

Fees and Charges 

2% plus GST 

Best Feature 

The quickest approval process that takes only around 4 to 5 minutes 

MoneyTap is amongst the best instant loan apps in India. It comes with a secured API and interface. To get a loan from MoneyTap, users should first download the app from Google PlayStore or AppStore. Then, they must fill in the details like age, city of residence, PAN, and income. This way, they will be able to find out their eligibility for the MoneyTap credit line. Then, users must complete the KYC formalities and get the funds after getting the necessary approval.  

2. PaySense 

Key Highlights 

Loan Amount 

Rs. 5000 to Rs. 5,00,000

Interest Rates 

16 to 36% p.a. 

Loan Tenure 

3 months to 48 months 

Fees and charges 

Up to 3% of the loan amount 

Best Feature

People with no previous credit history can avail of the loan

PaySense has tie-ups with top banks and financial institutions to provide instant personal loans online. Both salaried and self-employed individuals can apply for instant personal loans from PaySense. Recently, PaySense has merged with LazyPay. 

3. NIRA

Key Highlights 

Loan Amount 

Rs. 1000 to Rs. 1,00,000

Interest Rates 

13 to 24.03% 

Loan Tenure 

2 months to 12 months 

Fees and charges 

2% plus GST 

Best Feature 

Loans are available without a CIBILTM score 

NIRA is one of the best instant loan apps in India due to its instant approvals, simple registration process, and automatic evaluation of credit scores based on the documents submitted online. It gives users the facility to set up auto debits and auto credits. They also have the provision of expanding their credit period if needed. 

4. CASHe

Key Highlights

Loan amount 

Rs. 5000 to Rs. 4,00,000

Interest rates

15 to 35.03% 

Loan tenure 

2 months to 48 months 

Fees and charges 

2% plus GST

Best Feature 

CASHe instant which allows you to withdraw money instantly from the available credit limit. 

CASHe has one of the most user-friendly interfaces. Using this app, users can get a single approval for multiple loans at the same time. Before applying for a CASHe instant personal loan, users have to upload the required documents, complete the verification process, and set limits for the loan. This app directly disburses the money into your bank account. Further, users can also set up an auto debit facility from their bank accounts for hassle-free and timely repayments. However, to avail of loans from CASHe, users should have a decent credit score. 

5. Navi

Key Highlights 

Loan Amount 

Up to Rs. 20 lakhs 

Interest Rates 

From 9.9% onwards

Loan Tenure 

Up to 72 months

Fees and charges 

Nil 

Navi provides a hassle-free and quick instant loan application and approval process. The process is 100% paperless, secure, and simple. The app transfers money instantly to your bank account. Further, it offers 24/7 customer support. 

6. Home Credit

Key Highlights

Loan Amount 

Rs. 5,000 to Rs. 5,00,000

Interest Rates 

12 to 25% p.a. 

Loan Tenure 

2 months to 36 months 

Fees and Charges 

2% plus GST

Best Feature 

Offers personal loans to people even without credit history

Individuals can get an instant personal loan from Home Credit by just submitting their PAN card and another ID/address proof document. It is a very easily accessible online instant loan app. The loan is available for individuals whose ages are between 19 and 65 years. 

7. MoneyView

Key Highlights 

Loan Amount 

Rs. 35,000 to Rs. 5,00,000

Interest Rates 

15 to 36% 

Loan Tenure 

2 months to 60 months 

Fees and charges 

3% plus GST

Best Feature 

It has a credit rating model that determines the maximum loan eligibility for an individual.

MoneyView directly credits the instant loan amount into your bank account. It offers a 100% cashless and paperless loan journey right from application to disbursal. Users can verify their loan eligibility in two minutes by submitting their mobile number and completing the OTP verification process. It offers a flexible repayment tenure and users can select their loan duration. Applicants have to complete KYC formalities before taking the loan. 

8. Finnable 

Key Highlights

Loan Amount 

Rs. 5,000 to Rs. 5,00,000

Interest Rates 

12 to 25% 

Loan Tenure 

2 months to 48 months 

Fees and charges 

2% plus GST 

Best Feature 

Lower EMIs with interest charged on reducing balance method

Finnable allows you to apply for a personal loan by submitting just a few documents and by just making a few clicks. The loan amount will be disbursed directly to your bank account as fast as 2 hours. Interest is charged on reducing balance method, and due to this, the EMIs are low. 

9. Privo

Key Highlights 

Loan Amount 

Rs. 5,000 to Rs. 2,00,000

Interest Rates 

13 to 39.03% 

Loan Tenure 

2 months to 60 months 

Fees and charges 

Up to 5% plus GST

Best Feature 

It is a very user-friendly app and makes sure that you have a seamless and efficient borrowing experience. 

The Privo app offers instant personal loans for salaried persons with a monthly in-hand income of Rs. 18,000 or more. The app can be downloaded only on an Android mobile. Loans are available for all individuals between the ages of 21 and 60. And with a minimum CIBIL ™ score of 700.  

10. IndiaLends

Key Highlights 

Loan Amount 

Rs. 35,000 to Rs. 5,00,000

Interest Rates 

13 to 24.03% 

Loan Tenure 

2 months to 60 months 

Fees and charges

Upto 2% plus GST 

Best Feature

Compare pre-qualified offers from 70 plus RBI approved lenders 

The IndiaLends app comes with a simple 4 step digital process for instant loan approvals and quick bank disbursals. The app has a comprehensive range of loan products making it a great option for those looking for a customized loan. The instant loan process right from approval to disbursal is quite simple and completely digital. The app has prequalified offers from 70 plus RBI approved lenders. Users have to compare the offers and select one with the lowest interest rates and processing fees. Then, they will have to fill in an application form with the required details. Sign the agreement, and the loan amount will be credited to your bank account. 

Conclusion

Instant personal loans have become popular since they are available quickly without any documentation. Easy repayment terms, the lack of collateral, and the absence of end usage restrictions have made these instant loan apps very popular. 

FAQs

Can you take a loan against FD? 

Yes, a loan can be taken against an FD. Here, your eligible loan amount will be around 75% of the amount invested in your fixed deposit. 

Can I get an instant loan without a salary slip in India?

Yes, there are many instant loan apps in India that offer loans without requiring a salary slip. But, you may have to provide other sources of income proof, such as bank statements or income tax returns.