Top Trending 15 Instant Loan Apps and their Interest Rate 2023

The following list shows the top 15 instant loan apps in India.

Sl.NoApps Name Loan RangeAnnual Interest
Rates
App Rating
out of 5
1ZestMoneyRs. 1000-2,00,0000%-36%4.2
2MoneyTapRs. 3000-5,00,00013%-36%4.1
3PaySense Rs. 5000-5,00,000starts at 13%3.8
4DhaniRs. 1000-15,00,00010%-13.99%4.2
5Money View Rs. 10,000-5,00,00016%-39%4.6
6Nira Rs. 2500-1,00,00024%-36%4.4
7mpokket Rs.500-30,000 52%-72%4.2
8CASHe Rs. 7000-4,00,00027%4.3
9IndiaLendsupto Rs. 50,00,000starts 10.75%3.8
10KreditBee Rs. 1000-2,00,0000%-29.95%4.3
11CashBean Rs. 1500-60,000up to 26%4.0
12SmartCoin Rs. 1000-70,0000%-30%4.4
13RapidRupee Rs. 1000-60,000up to 12%4.3
14Payme India Rs. 2000-2,00,00018%-42%4.2
15Home Credit Rs. 10,000-2,00,00019%-56%4.3
Source: Play Store and Apps websites and ratings may change on a timely basis.

ZestMoney

ZestMoney is a fintech company that specializes in lending money to its consumer. It is an Online Platform. You can use Zest  Money and pay your EMIs even if you don’t have a very good credit report.

Why Zest Money?

It starts at 0% interest with no extra fee or any hidden charges. Accept at online as well as the offline retail stores also. It follows the buy now pay later plan and, you can also pay in installments later. The tenure of the loan range from 9 months to 2 years with a personalized credit limit of up to 2,00,000. The quick three-step approval process:

  1. Install the app, and fill in the details asked for.
  2. Now, to activate the account, complete the KYC and set your bank mandate.
  3. Wait for approval and then Zest is ready to use.

MoneyTap

Money Tap is an Online Platform that provides instant loans starting from Rs. 3000  and goes up to Rs. 5,00,000. The loan tenure ranges from 2 months to up to 36 months. It provides many different kinds of loans such as wedding loans, medical loans, travel loans, and much more. You have to pay interest only on the money utilized from the approved limit.

How does Money Tap work?

  1. Install the app Money Tap from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. After approval your credit limit is set, you can use any amount from your credit limit,
  5. You can also repay your loan in EMIs and keep eye on all your transactions.

Pay sense

Pay sense is Instant Loan Online Platform helps us to get quick loans at a very reasonable rate of interest. Here, you can get a loan easily even if you don’t have any credit history. You can get the credit of up to Rs. 5,00,000. The minimum age must be 21 for availing of this loan.

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How does Pay sense work?

  1. .Install the app Pay sense from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. After loan approval your and application process completion money will be transfer to your bank account.
  5. You can Repay through EMIs by seting up mandate.

Dhani

Dhani facilitates you with a 0% interest Credit Line facility (Credit limit up to Rs 5 lacs). You can pay for the purchase in 3 installments. Also, give Unlimited & Instant access to Doctors and up to 35%-50% discount on medicines. Enjoy instant Cashbacks on all your transactions (2% cashback on all spending).

How does Dhani work?

  1. Go to google play store Download  Dhani app
  2. Provide details like PAN, DOB, income statement, etc 
  3. Complete your KYC process.
  4. Choose desired subscription plan and accept terms and conditions.
  5. Set-up mandate for monthly subscription fee deduction. 

Mandate can be set using Netbanking, Debit Card, Aadhaar Number, or Physical download method as your bank supports.

Money View 

Money view provides instant loans starting with 1.33% per month for tenure up to 5 years. You can get up to Rs. 5,00,000 . It is completely digital, with no paperwork is required. Interest Rates may differ from person to person according to their credit history or credit report. It ensures 100% safety.

How Does Money view work?

  1. Install the app Money view  from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Select loan amount and Tenure .
  4. Complete the KYC process for approval.
  5. After approval the amount will transfer to your bank account.
  6. You can also repay your loan in EMIs and keep eye on all your transactions.

Nira

Nira is also an Online Loan Platform in which no CIBIL/credit score is required to obtain a loan. Loan amount up to Rs. 1,00,000 with a monthly interest rate of 2%-3% with tenure up to 12 months. It operates all over India. You may have to pay processing fees of 350 or 2% of the loan amount.

How to get started with Nira?

  1. Install the app Nira from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. After loan approval your and application process completion, set auto dedbit to avail loan amount.
  5. You can Repay through EMIs and you must repay before due date to avoid late charge

mPokket

The mPokket is one of the best instant loans for students to avail themselves of the short amount of loans easily and quickly.  Loan ranges from Rs. 500 to Rs. 30,000 with an interest rate of 2%-3% per month with a tenure of 60 to 120 days.  You also received exciting cashback and rewards.

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How does the mpokket work?

  1. Install the mPokket app from Google Play Store.
  2. Verify your mobile number and Sign up. 
  3. Complete your KYC process.
  4. Salaried person need to upload bank statements to show their salary credits.
  5. Record your selfie video in app as mentioned. 
  6. After approval get the loan amount into your bank account in minutes.

CASHe

CASHe has disbursed Rs.2000 crore till now with more than 3 lakh customers. You can also get instant loans for short period like 15-180 days. Loan ranges from Rs. 7000 to Rs. 4,00,000. You can also withdraw part of your loan amount to your Paytm wallet. 

How does CASHe work?

  1. Install the app Nira from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. Click on get CASHe button and then on  ‘credit line’ .
  5. Set your credit limit by moving slider.
  6. Application is submitted for approval, one approval for many loans.

IndiaLends

IndiaLends is associated with more than 50 financial institutions and offers different kinds of loans. It is a complete Online platform that provides loans up to Rs. 50,00,000 for salaried and self-employed people. Interest rate starts from 10.75%

How does IndiaLends work?

  1. Install the app IndiaLends  from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. After approval your credit limit is set.
  5. You can also repay your loan in EMIs.

KreditBee

KreditBee is an Online Platform that provides loans up to Rs. 2,00,000 for the tenure of 62 days to 15 months according to personal requirements with an interest rate of 0-2.49%.  You can also sign up for this app by Google or a Facebook account. May be charged a service fee.

How does KreditBee works?

  1. Install the app KreditBee from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. Select loan amount and tenure
  5. Application is submitted for approval. After approval loan amount will be credited to your bank account.

CashBean

CashBean app is been in operation since 2018. It is a complete Digital Program no paperwork is required. The loan amount ranges from Rs. 1500 to Rs. 60,000 and Interest rates go up to 26% per annum. The app is user-friendly and the loan amount is credited to your account within minutes of approval of the loan application.

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How do CashBean works?

  1. Install the app CashBean from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. Set your credit limit , you may also receive a call for verification .
  5. If your application approved you will be informed by a SMS.
  6. You also have to sign loan agreement online and submit the same.
  7. After submitting e-sign loan agreement amount will be credited to your bank account and you will be informed by SMS.

SmartCoin

SmartCoin is also an Online loan platform. You can get loans ranging from Rs. 1000 to Rs. 70,000 for the tenure of  91 to 270 days at an interest rate of 20-36% per annum. Adhar card and PAN card are the compulsory documents that are required.

How do SmartCoin works?

  1. Install the app SmartCoin from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility.
  3. Complete the KYC process for approval.
  4. Select loan amount and Tenure.
  5. Submit application for approval.
  6. After approval the amount will transfer to your bank account.

Rapid Rupee

RapidRupee provides an instant loan in just 30 minutes, loan amount up to Rs. 20,000 for the tenure of 3 to 12 months with an interest rate up to 12% per annum. It is a quick, easy-to-use, and instant loan app, and also do not have any hidden fee or charges. 

How does RapidRupee work?

  1. Install the app SmartCoin from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility
  3. Upload your documents like adhar card, PAN card, photo.
  4. Your documents will verify and you will receive approval within 20 minutes.
  5.  Amount will transfer to your bank account in 30 minutes.

PayMe India

PayMe India is a fintech company that specializes in lending money to salaried individuals and it also provides access to medical emergencies. If you are eligible you can get a loan within 24 hours. PayMe India is 100% secure provides loans ranging from Rs. 2000 to Rs. 2,00,000 with interest rates ranging from 18% to 42% per annum.

How does PayMe India work?

  1. Install the app PayMe India from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility
  3. Complete the KYC process for approval.
  4. Submit your bank details.
  5. Your documents will verify and you will receive approval
  6. Amount will transfer to your bank account.

Home Credit

Home Credit is also an Online loan platform that provides affordable loans without and fees and hidden charges. The loan amount ranges from Rs. 10,000 to Rs. 2,00,000 with tenure of 6 months to 51 months and no credit history required.

How does Home Credit work?

  1. Install the app Home Credit  India from the google play store.
  2. Register the app and fill in the details asked for to check your eligibility
  3. Complete the KYC process for approval.
  4. Your documents will verify and you will receive approval
  5. Amount will transfer to your bank account.

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