Instant loan apps are like mini banks in your pocket that provide instant access to credit in case of a financial emergency.
You can get instant loan approval through instant loan apps following a completely online application procedure.
I have analyzed and prepared a list of the 11 best instant loan apps in India 2022 that you can use for personal & emergency expenses like medical, wedding, home renovation, travel, mobile or bike purchase.
Best Instant Loan App in India 2022
#1. MoneyTap Instant Loan App

MoneyTap offers an instant loan for an amount as low as Rs. 3000 and up to Rs. 5 Lakhs. You can use the loan amount by paying a low 1.08% per month of interest.
MoneyTap loan comes with a combined benefit of loan and a credit card that you can use over the loan tenure that ranges from 2 months to 36 months.
The best part is that you need to pay only for the amount you have actually transferred to your bank account.
For availing instant loan you should be in the age bracket of 23-55 years and earning a salary of Rs. 30,000 per month.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.1 | 4.4 |
No. of App Reviews | 247,025 | 10.5K |
App Size | 13 M | 93.5 MB |
Compatibility | Android 4.1 and above | iOS 10.0 or above, compatible with iPhone, iPad and iPod touch |
Pros
- Flexibility to borrow from Rs. 3000 to Rs. 5 Lakhs
- Instant online loans in a 100% paperless process
- Low 1.08% per month rate of interest
Cons
- Processing fee of Rs. 499
Best For – Salaried person having a minimum of Rs. 30,000 monthly salary.
#2. India Lends Instant Loan App

India Lends in association with over 50+ banks and NBFC offers instant personalized personal loans of up to Rs. 50 Lakhs for tenure 1 year to 5 years.
Depending on your credit and risk profile, India Lends charges interest rates ranging from 10.75% to 25%.
The loan is both for salaried and self-employed people with a minimum salary of Rs. 15,000 per month. But, India Lends looks for work experience of at least 6 months for salaried person and 3 years for self-employed individuals.
On the app, you have useful tools like “Spend Analyzer”, “EMI Calculator” and credit card suggestions.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.1 | 4.5 |
No. of App Reviews | 65,571 | 9.3K |
App Size | 19 M | 184.4 MB |
Compatibility | Android 4.4 and above | iOS 10.3 or above, compatible with iPhone, iPad and iPod touch |
Pros
- Loan amount of up to Rs. 50 Lakhs
- Personal loan for both salaried and self-employed
- Rs. 15,000 of minimum salary required to apply for the loan
Cons
- 3 years of work experience for self-employed
- Up to 6% processing charges
Best For – Salaried and self-employed person with work experience.
#3. KreditBee Instant Loan App

You can avail instant loans from KreditBee in the range of Rs. 1000 to Rs. 2 Lakhs for a period of 62 days to 15 months.
KreditBee sanctions loans in the form of “Flexi Personal Loan”, “Personal Loan for Salaried” and as “Online Purchase Loan”. Depending on the loan type and risk profile you need to pay interest rates in the range of 0% to 29.95%.
KreditBee gives you the access to higher amounts & long tenures for the subsequent loan if you repay your existing loan on time
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.5 | NA |
No. of App Reviews | 521,596 | NA |
App Size | 14 M | NA |
Compatibility | Android 4.4 and above | NA |
Pros
- Loan amount of Rs. 1000 to Rs. 2 Lakh
- 0% to 29.95% interest rate
Cons
- Max loan tenure of 15 months
- Rs. 30 to Rs. 350 one time service fees
Best For – Young professionals with a monthly source of income.
Best Personal Loan App in India 2022
#4. Kreditzy Personal Loan App

Kreditzy Technologies is a Bengaluru based company with a personal loan app that offers loan amounts in the range of Rs. 1000 to Rs. 1 Lakh for a tenure of 91 days to 365 days.
The personal loan can be accessed pan India and the amount is directly disbursed into your bank account.
Kreditzy charges an interest rate of up to 29.95% per annum and the personal loan processing takes approximately 10 minutes.
However, you need to be an Indian resident of 21 years and above and a monthly income above Rs. 17,000 to apply for Kreditzy personal loan.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.5 | NA |
No. of App Reviews | 77,359 | NA |
App Size | 13 M | NA |
Compatibility | Android 4.4 and above | NA |
Pros
- Loan amounts of Rs. 1000 to Rs. 1 Lakh
- 10 minutes processing time
- Loan available pan India
Cons
- Tenure of 91 days to 365 days
Best For – Salaried person with a minimum of Rs. 17,000 monthly salary.
#5. NIRA Personal Loan App

You can get personal loans from NIRA to pay medical expenses, rental deposits, weddings, paying bills and other expenses in just a few minutes.
You can apply for a loan as low as Rs. 2,500 and up to Rs. 100,000 and pay within 12 months.
You need to upload your Aadhar and PAN details along with your selfie while applying for the personal loan. You must be earning a minimum Rs.12,000 monthly to be eligible for the loan.
NIRA charges an Annual Percentage Rate (APR) of 24% to 36% per year and the processing fee ranges from Rs. 350 to up to 2% of the loan amount.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.3 | NA |
No. of App Reviews | 35,204 | NA |
App Size | 16 M | NA |
Compatibility | Android 4.4 and above | NA |
Pros
- Only Aadhar and PAN required
- Low Rs. 12,000 per month salary required
Cons
- 12 months repayment period
- High APR of up to 36%
Best For – Short term personal loan, even if you have a low salary.
Also read – best gold loan in India
#6. Money View Personal Loan App

Money View offers instant personal loans in the range of Rs. 10,000 to Rs. 5 Lakhs in approximately 2 hours.
Depending on the loan amount and repayment duration, the interest rate could vary in the range of 16% to 36%. The loan duration ranges from 3 months to 5 years.
Apart from personal loans, the app offers you a smart money manager to help you in tracking expenses and budgeting. You can plan and make monthly budgets on the Money View app.
But, on the other hand, Money View charges a high processing fee that varies between 2.5% to 4% of the loan amount.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.2 | NA |
No. of App Reviews | 206,235 | NA |
App Size | 21 M | NA |
Compatibility | Android 4.1 and above | NA |
Pros
- Personal loan amount from Rs. 10,000 to Rs. 5 Lakhs
- 2 hours of approximate processing time
- In-built money manager tool
Cons
- 2.5% to 4% high processing fees
Best For – Personal loans, tracking expenses and budgeting through a single app.
#7. Smart Coin Personal Loan App

Smart Coin offers small amounts of personal loans for all your urgent cash needs. The loan amount ranges from Rs. 1000 to Rs. 25,000.
To apply for a loan you need to download the app and fill in your details, upload the PAN, address proof and bank statement and click a selfie.
For Smart Coin personal loan you need to have a minimum monthly salary of Rs. 15,000.
The repayment tenure is short, ranging from 62 days to 180 days and the interest rate ranges from 0% to 36% per annum.
This means you should take a personal loan from the “Smart Coin” only if you have some money inflow in the next six months to repay the loan.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 3.9 | NA |
No. of App Reviews | 73,719 | NA |
App Size | 12 M | NA |
Compatibility | Android 4.4 and above | NA |
Pros
- A minimum monthly salary of Rs. 15,000
- 100% digital application
Cons
- Rs. 1000 to Rs. 25,000 loan amount
- 62 days to 180 days repayment period
- 0% to 36% p.a. interest rates
Best For – Short term personal loan for very small amounts
Check out – Best bank for home loan in India
Best Instant Loan Without Documents in India 2022
#8. RapidRupee Instant Loan App

You can avail Rapid Rupee instant loan in 30 minutes. The only basic documents required are Aadhar and PAN card.
Rapid Rupee offers loans to cover small but urgent needs of both salaried and self-employed persons with minimum income of Rs. 10,000 per month.
The loan amount ranges from Rs. 1,000 to Rs. 60,000 and carries an interest rate of 12% per annum. The repayment tenure ranges from 3 months to 12 months.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.3 | NA |
No. of App Reviews | 84,100 | NA |
App Size | 13 M | NA |
Compatibility | Android 4.3 and above | NA |
Pros
- 30 minutes of processing time
- Low 12% p.a. rate of interest
- Low Rs. 10,000 p.m. salary criteria
Cons
- Processing fee of Rs. 349 and more
Best For – People looking for a salary advance or instant cash.
Best App for Instant Loan for Students in India 2022
#9. mPokket App for Instant Loan

Students and working professionals can use mPokket app to avail instant loans starting from Rs. 500 to Rs. 20,000.
The loan is available pan India to all college students aged 18 years and above and young professionals working full-time. To apply, college students need to upload their college ID proof and address proof.
But, the loan tenure is 61 days to 90 days which is very small and the interest rate is very high at 12% to 72% per annum. You should use mPokket only if you have a very urgent need for cash and are able to repay in the stated duration.
mPokket credits the loan amount into your bank account or Paytm wallet.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.4 | NA |
No. of App Reviews | 230,653 | NA |
App Size | 24 M | NA |
Compatibility | Android 5.0 and above | NA |
Pros
- Loan amount from Rs. 500 to Rs. 20,000
- College ID and address proof required
- Credit into Paytm wallet
Cons
- Loan tenure of 61 days to 90 days
- 12% to 72% p.a. rate of interest
Best For – College students and working professionals
Best Instant Loan App in India Without Salary Slip 2022
#10. InstaRupee Loan App

Insta Rupee requires only the Aadhar Card and PAN card for personal loan processing. You must be an Indian citizen of age 18 years and above.
Insta Rupee offers a loan amount of up to Rs. 20,000 with annualized percentage rate (APR) of 20% to 30%.
But the repayment period is from 91 days to 120 days, which is very small.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.7 | NA |
No. of App Reviews | 14,096 | NA |
App Size | 14 M | NA |
Compatibility | Android 5.0 and above | NA |
Pros
- Low APR of up to 30%
- Online application process
- High 4.7 app rating
Cons
- 91 days to 120 days, low repayment period
Best For – Part-time salaried person looking for instant cash
#11. uuCash Instant Loan App

All you need is a PAN card, a Aadhar card and a selfie to get instant loan with uuCash. The loan amount ranges from Rs. 1,000 to Rs. 20,000 and uuCash takes a processing time of just 30 minutes.
The maximum APR charged on the loan amount is 20% and the tenure ranges from 91 days to 365 days.
There is no processing fee, but uuCash charges a signup fee and a service fee that range from 5% to 15%.
App Store Details
Particulars | Google Play Store | Apple Play Store |
App Rating | 4.1 | NA |
No. of App Reviews | 7,766 | NA |
App Size | 18 M | NA |
Compatibility | Android 4.1 and above | NA |
Pros
- Approximately 30 minutes of processing time
- Maximum 20% APR on the loan amount
Cons
- Up to 15% service fee
- Sign up fee
Best For – Both, part-time and salaried person.
Factors to Consider While Taking Instant Loan
#1. Repayment Capacity
Before you apply for an instant loan, check your cash needs and the repayment capacity. If you can manage from your savings, withdrawing investment or borrowing from your colleagues then do that instead of taking a loan.
If you still want to go for an instant loan then make sure that you have a cash flow in the coming months to repay the loan. Otherwise, instant loans can be a trap because of high-interest rates.
#2. Rate of Interest
The interest rates on instant loans vary from 12% to as high as 72% per annum and differ from app to app.
The rate of interest charged is very high and if you default then the interest gets accumulated. Look for instant loans that charge a reasonable rate of interest that you can repay easily.
#3. Repayment Period
The repayment period also varies from 60 days to 5 years. Few apps offer a very short repayment period which can be difficult to manage because of high repayment amounts.
Select a repayment period where you are comfortable and your monthly finances do not get impacted.
#4. Loan App Ratings
The app ratings and reviews tell a lot about the experiences of the people already using the app. The popular loan apps with higher ratings have a better user experience, application process and loan management features.
#5. Processing Fees & Other Charges
Processing of instant loans is fast but it also eats up 1% to 6% of your loan amount.
Look for instant loan apps that charge a lower processing fee or other charges like sign up charges or service fees.
Final Words
Instant loan apps provide you an option to get a fast cash with minimum documentation, less effort in the least possible time.
Instant loan apps are really helpful in situations of urgent cash needs. But you need to be careful in using the facility only in extreme financial needs because of the high-interest rates they charge.

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