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While some individuals prefer saving money to make big purchases, others opt for loans, sometimes even when they have enough money. It is all about managing cash flow, convenience and financial strategy.
If you’re planning to take a loan for your personal, medical or other needs, check out this blog post! Here, we shall provide you with the list of top 10 loan apps in India.
The top 10 loan apps in India, according to the author, as are as follows :-
Bajaj Finserv App is one of the leading loan apps in India. It is a part of the Bajaj Group, and is trusted by millions of customers for their financial needs. Using this app, you can apply for various types of loans like personal loan, home loan, business loan, gold loan, etc., and fulfill your requirements.
With just a few taps, you can apply for a personal loan on the Bajaj Finserv app. Users can track their loan transactions easily, including the personal loan monthly EMI payments. The EMI payments can be made using different methods like net banking, credit card, debit card or UPI.
CASHe App is one of the best loan apps in India. It offers instant short term personal loans and other financial services mostly to young salaried individuals. The CASHe owner and founder is V. Raman Kumar, who is a serial tech entrepreneur and pvt equity investors.
He launched CASHe company in 2016 to offer credit services to individuals. To provide financial inclusion to individuals who may not qualify for loans offered by traditional bank loans, the CASHe app uses an alternative credit scoring system.
PaySense was founded in 2015 by three individuals, namely, Prashanth Ranganathan, Sayali Karanjkar and Paul Meinshausen. The PaySense App is one of the top 10 personal loan apps in India. This app has over 100 lakh installs and 3 lakhs+ customers available in more than 600 cities.
The PaySense App provides users with many benefits. It comes with flexi EMI options, zero collaterals and affordable interest rates. The lending partners of PaySense offer personal loans ranging from Rs. 5,000 to Rs. 5,00,000.
Navi Finserv Ltd is the lending arm of Navi Limited - a digital financial services company a systemically-important non-deposit taking NBFC registered and regulated by the RBI. It was founded by Sachin Bansal and Ankit Agarwal in 2018. Their App Navi Finserv is one of the top loan apps in India. It provides simple, affordable and accessible financial products and services for its users.
It offers cash loan and home loan with minimal documents required. It is important to note that the RBI barred Navi NBFC from issuing new loans beginning from 21 Oct 2024 due to excessive lending rates and regulatory non compliance. However, in Dec 2024, the restrictions were lifted.
Maybright Ventures Private Limited was founded in 2016. Their app mPokket App is a popular mobile app for loan that provides instant short term personal loans to college students, young professionals and self-employed individuals. The app offers quick cash transfers as well as flexible repayment of loans.
The mPokket founder and CEO is Mr. Gaurav Jalan. Users can access micro loans via the app for their urgent cash needs, travel or other expenses. In case of instant loans, the cash usually gets transferred to the borrower’s bank account within minutes.
LazyPay Private Limited is a pvt ltd company incorporated under Companies Act 2013. Their app LazyPay allows users to get a free credit limit of up to Rs. 10,000 that they can use across over 45,000+ online stores and merchants. They can repay the total every 15 or 30 days interest free. Using the LazyPay app, users can secure insta personal loan up to Rs. 1 lakh. For this, they need to provide basic information and find out their credit limit.
One of the key benefits of the personal loan offered by the app is that users can get instant approval for amounts as low as Rs. 10,000 or Rs. 20,000 going up to their credit limit. Interest only needs to be paid on the loan amount users have obtained. The repayment can be made in a highly convenient manner. LazyPay app allows the users to choose from flexible EMI plans covering 3-24 months. Generally, the interest rate is 15% to 32%. In addition to this, there is a 2% processing fee on the amount withdrawn.
KreditBee, co-founded by Madhusudan Ekambaram (CEO), Vivek Veda (CFO), and Karthikeyan Krishnaswamy (CTO), is a leading provider of loans in India. It is one of the top 10 loan apps in India. For self employed as well as salaried professionals, this app provides instant personal loans. Individuals can apply for a personal loan starting from as low as Rs. 6,000 to as high as up to Rs. 10 lakhs on the basis of their requirement.
To apply for an insta personal loan, the documentation required by KreditBee is very minimal. The entire process beginning from registration on the KreditBee app to loan disbursement takes just a few minutes. The process for applying for KreditBee loan is an entirely online process. Upon approval, the amount gets transferred to the user’s bank account on an immediate basis.
.png "Fibe App (Formerly EarlySalary App)")
Fibe, formerly known as the EarlySalary, is a popular loan application in India. It is one of the top money lending apps in India, offering a convenient and hassle-free way for users to apply for an online loan with just a few clicks. The loan can be availed for any reason like unexpected medical bill, month end cash crunch or home repairs. The loan approval on Fibe takes a few minutes generally. After approval, the money gets transferred directly to the bank account of the borrower.
The repayment options offered by Fibe are quite flexible. The interest rates are quite attractive. Their customer support team focuses on customer-first experience. The app has no hidden fees/charges. As a result, the borrowers are at peace of mind knowing exactly what they will pay for their loan. There are no prepayment charges and the borrowers can close their loan anytime.
Kissht App is one of the top loan apps in India. It was founded by Ranvir Singh and Krishnan Vishwanathan. The app offers a wide range of unsecured loans with quick approvals. It requires minimal documentation during the loan application process. It also provides secured loans like loan against property for higher amounts at competitive interest rates. The approvals are quite easy and the disbursal is fast. The app offers flexible repayment options.
Kissht provides instant, seamless credit to the users. Using this app, the customers can also apply for business loans. No collateral is required for availing business loans from Kissht. You can repay the business loan in easy EMIs over 3 to 60 months. Upon approval, the funds are usually credited to your account within 24-48 hours.
InCred App is one of the top 10 money lending apps in India. Using this app, individuals can get a personal loan online for up to Rs. 15 lakh, with options starting from Rs. 50,000, allowing them to manage all their expenses. The loan approval is pretty quick. Within minutes, individuals can complete their personal loan application.
Once the loan is approved, the individuals receive money in their account within 15 minutes, according to their official website. With InCred, you can experience personal loans that are transparent. The fees charged by the app are clearly outlined and there are no hidden charges. Also, generally no guarantor or collateral is required to apply for a personal loan on InCred.
The top 10 loan apps in India are Bajaj Finserv App, CASHe App, PaySense App, Navi Finserv App, mPokket App, LazyPay App, KreditBee App, Fibe App, Kissht App and InCred App. These apps can be downloaded easily from the Google Play Store or Apple Store. They offer loans to individuals, helping them to meet their credit needs.
Q1. What are the top 10 loan apps in India?
A. According to the author, the top 10 loan apps in India are Bajaj Finserv App, CASHe App, PaySense App, Navi Finserv App, mPokket App, LazyPay App, KreditBee App, Fibe App, Kissht App and InCred App.
Q2. Is CASHe approved by RBI?
A. Yes, it is approved by the RBI.
Q3. Is LazyPay safe?
A. LazyPay is generally a safe app. It is RBI approved and has a rating of 4.3 stars on Google Play.
Q4. Does Kissht offer personal loans?
A. Yes, it does offer personal loans.
Q5. Who is LazyPay founder?
A. LazyPay founder is Jitendra Gupta.
Q6. Who is KreditBee founder?
A. KreditBee founders are Madhusudan Ekambaram, Vivek Veda and Karthikeyan Krishnaswamy.
Q7. Who is Kissht founder?
A. Kissht founders are Ranvir Singh and Krishnan Vishwanathan.
Q8. Who is mPokket founder?
A. Gaurav Jalan is mPokket founder. He currently serves as the CEO of the mPokket company.
Disclaimer :- This article is based on the author’s personal opinion and may or may not represent views of the general public, institutions or organizations. Please note that while the author has made every effort to ensure the accuracy of the information provided, its complete accuracy cannot be guaranteed.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
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