10 Best Personal Loan Apps in India 2023

10 Best Personal Loan Apps in India: Every individual must switch to Loan Apps rather than going to a regular bank when you need a quick cash loan as it might be time-consuming because of its documentation process. A credit card is another substitute but the interest rates are very costly. Not every individual has salary advance loans in India. Consequently, in these kinds of conditions, the best option is to apply for a personal loan. This post has listed all the finest personal Loan Apps in India (ranking wise). These Loan Apps will make the process of getting a personal loan a lot easier and more convenient. To gain complete knowledge, read the full article below.

S.No. Application Name App Store Rating Play Store rating
1 PaySense NA 4.1/ 5
2 Money Tap 4.3/ 5 4.2/ 5
3 Dhani 4.0/ 5 4.0/ 5
4 Nira NA 4.3/ 5
5 CASHe 4.3/ 5 3.7/ 5
6 Home Credit NA 4.3/ 5
7 PayMe India 3.6/ 5 4.5/ 5
8 India Lends NA 3.8/ 5
9 Money View NA 4.5/ 5
10 mPokket NA 4.3/ 5

List of 10 Best Personal Loan Apps in India

1. PaySense

This is known to be one of the best instant Loan Apps without salary slips. Recently, it has consolidated with LazyPay to become one of the best platforms in this field. You can acquire any rapid personal loan that varies from INR 5,000 to INR 5,00,000.

Interest Rate – 1.08 to 2.33 percent per month
Maximum Loan Amount – Rs. 5,00,000
Minimum Loan Amount – Rs. 5,000


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


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

2. MoneyTap

MoneyTap is one of the fastest-growing instant loan apps in India. You need to register on the app and fill out the KYC paperwork and wait for final approval. On the basis of your credit score, you can get an instant loan up to an approved amount of INR 5,00,000.

Interest Rate- 1.08 to 2.3 percent per month
Maximum Loan Amount – Rs. 5,00,000
Minimum Loan Amount – Rs. 3,000


  • Selfie
  • PAN card
  • Current address proof
  • Photo ID proof (passport/driving license/ Aadhar Card/ Voter ID)
  • Bank statements
  • Rental agreement
  • Credit card statement


  • 100% paperless process
  • Pay interest only for the borrowed amount
  • Flexible EMI tenure from 2 to 36 months
  • Collateral free loan
  • 4 minutes approval
  • Secured API and interface
  • The variable interest rate for the borrowed loan amount

3. Dhani

This application is one of the best personal loan apps without documents. You can easily acquire a quick loan of up to INR 5,00,000, with handy and affordable interest rates. Also, you will earn 2% cash back for every transaction.

Interest Rate- 1 to 3.17 percent per month
Maximum Loan Amount – Rs. 5,00,000
Minimum Loan Amount – Rs. 1,000


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


  • Instant money up to Rs. 5,00,000 at lowest 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

4. Nira

Nira finance is best known for its instant approvals, which is the only reason this is called one of the best instant personal loan apps. With a simple registration, you can easily get higher amounts of loans. You can acquire up to INR 500,000 and the interest rates are 1.5 to 2.5% (monthly) depending on your credit score.

Interest Rate- 1.5 to 2.5 percent per month
Maximum Loan Amount – Rs. 5,00,000
Minimum Loan Amount – Rs. 3,000


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


  • Quick disbursal
  • Low-interest rates
  • Easy repayment
  • Flexible schedule
  • Great customer service

5. CASHe

Through CASHe, you can easily log in and register on the app, and get a fast loan. You can choose loans with a topmost amount of INR 500,000 and various repayment terms and interest rates.

Interest Rate – Starts from 1.75 percent per month
Maximum Loan Amount – Rs. 5,00,000
Minimum Loan Amount – Rs. 5,000


  • Proof of Income (salary slip)
  • Proof of Identity (passport, Aadhar card, driving license, or voter ID)
  • Address Proof
  • PAN card


  • Online process of application
  • User-friendliness
  • Privacy & security
  • 24/7 service
  • Low-interest rates
  • Basic documentation

6. Home Credit

From Home Credit, any Indian citizen from the age group of 19 to 65 can get short-term loans in India. However, the loan amount may depend upon your credit rating, you can acquire loans up to INR 2,00,000 with less documentation.

Interest Rate- 2.4 to 3.3 percent per month
Maximum Loan Amount – Rs. 10,000
Minimum Loan Amount – Rs. 2,00,000


  • PAN card
  • Identity/ Address proof


  • Generates best offers
  • Provides easy loan application and approval
  • Extends clear view of loan details
  • Eases quick EMI payments
  • 100% private and secure online process

7. PayMe India

This application has a loan for all processes in India which is the reason it is known as one of the most versatile platforms to secure loans. You can easily register on the platform and select a plan, upload your documents, get KYC done, etc. It offers instant loans without taking much time.

Interest Rate- 2 to 6 percent per month
Maximum Loan Amount – Rs. 1,00,000
Minimum Loan Amount – Rs. 1,000


  • Bank statement
  • Salary slip
  • PAN card
  • Photo ID proof
  • Address proof


  • Easy login
  • Accurate assessment
  • Swift disbursal
  • Instant cash
  • Different loan types
  • Loan advisory
  • Safe process
  • Private & secure

8. India Lends

India Lends is one of the most favorite and premium money lending platforms for Indians. They have different kinds of loans available. They help by offering the lowest rate of interest from most banks.

Interest Rate- 0.9 to 3 percent per month
Maximum Loan Amount – Rs. 50,00,000
Minimum Loan Amount – Rs. 15,000


Check the documents list from the official website.


  • Easy approval
  • Quick disbursal
  • 100% online process
  • Good customer service
  • High maximum value
  • Lower interest rates

9. Money View

This application is known for its credit rating model, which is the only reason why most people can get instant loans directly from this platform in less time. They have paperless procedures, which help individuals to acquire loans up to INR 5,00,000 quickly within 24 hours.

Interest Rate- 2 percent per month
Maximum Loan Amount – Rs. 5,00,000
Minimum Loan Amount – Rs. 5,000


  • Income proof (3 months bank statement or salary slip)
  • PAN card
  • Address proof
  • Identity Proof


  • Built-in expense tracker system
  • Bill payment reminders
  • Integration with third-party payment apps
  • State of the art security system

10. mPokket

mPokket basically focuses on short-term loans for salaried individuals and students. You can easily obtain rapid, instant cash that allows you to complete your everyday chores and activities. Salaried employees can avail the loan up to INR 30000 in short-term loans with less documentation including proof of employment and salary credits. Students do not require any documentation apart from their membership in any educational institution.

Interest Rate- Starts from 3.5 percent per month
Maximum Loan Amount – No maximum limit
Minimum Loan Amount – Rs. 500


For Student Loan:

  • Identity proof
  • College ID card
  • PAN card

For Salary Loan:

  • Identity proof
  • PAN card
  • Form 16
  • Company’s ID card
  • Salary slip (your bank account) where your salary is credited by your company.

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  • Apply directly using an ID card
  • 100% online process with less documentation
  • Less time consuming
  • Approved within 24 hrs
  • Money can be credited into your bank account or PayTM wallet
  • Provides good credit scores

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