7 Best Personal Loan Apps in India 2023

7 Best Personal Loan Apps in India 2023

Sometimes, we cannot get the loan the easy way. Also, banks don’t give you loans easily. You have to do lots of things to get the loan.

Don’t worry. 24hrLoan gives you an instant way to get a quick personal loan. Just you will need 30 minutes to get the money.

You have to read the details carefully & install the application on your smartphone and start the step-by-step process. This application gives you up to 20 lakhs of instant personal loans.

We have to analyze 1000 apps from the Google play store and give you the 7 best personal loan apps in India.

The 7 Best Personal Loan Apps in India 2023

AppsLoan AmountInterest RateTenure
PrivoRs. 10,000 to Rs. 2 lakh13.49% to 29.99% p.a.3 months to 60 months
NaviRs. 10,000 to Rs, 20 lakh9.90% to 45% p.a.3 months to 72 months
RapidRupeeRs. 1,000 to Rs. 60,00012% to 35.9% p.a.3 months to 12 months
L & T FinanceRs. 20,000 to Rs. 7 lakh11% to 19% p.a12 months to 48 months
Money ViewRs. 5,000 to Rs. 5 lakh1.33% per month6 months to 60 monthss
KreditbeeRs. 1,000 to Rs. 4 lakh0% to 29.88% p.a.3 months to 15 months
ZypeRs. 1,000 to Rs. 5 lakh18% to 36% p.a.3 months to 12 months

1. Privo

Privo gives you a fast loan of up to Rs. 2 lakhs. Within 10 minutes, you will get the loan. You can easily transfer credit limits to a bank account. You have to pay the interest rate of 13.49% to 29.99% p.a.

Privo is taking the processing charge of up to 5% of the loan amount. Choose the loan repayment tenure from 3 months to 60 months.

2. Navi

Navi is offering up to Rs. 20 lakhs instant personal loans. If you have a 730+ credit score, you may apply for Navi instant loan. The loan disbursement time is 30 minutes. As a customer, you have to pay a 9.9% to 45% interest rate per annum.

Navi loan repayment tenure is 3 months to 72 months. Pay the process fees up to 3% of the loan amount.

3. RapidRupee

Applicants can get a loan from Rs. 1,000 to Rs. 60,000. RapidRupee provides personal loans within 30 minutes. Process charge is minimum. Pay Rs. 349 for the loan processing charge.

Your age should be 22 to 59 years to apply for RapidRupee instant loan. The competitive interest rate starts from 12% to 35.9% per annum.

4. L&T Finance

L&T finance gives you up to Rs. 7 lakhs instant loan with a competitive interest rate of 11% p.a. CIBIL score of 740+ will eligible for a loan. Applicants have to pay 2% loan processing fees.

Customer age should be 23 years to 57 years. Income proof does not require to get the loan.

5. Money View

Money View is one of the popular applications on the Google play store. Money View offers the loan amount from Rs. 5,000 to Rs. 5 lakhs instant loan. You have to pay an interest rate of 1.33% per month.

The loan processing charge is up to 5%. A minimum credit score of 730+ is required to apply for a Money View loan.

6. Kreditbee

The Kreditbee loan application process is fast. Just install the Kreditbee application from the Google play store & start the application process. You will get a loan from Rs. 1,000 to Rs. 4 lakhs.

You may choose the repayment tenure from 3 months to 15 months. Customers can apply for loans with a 700+ credit score. Pay the interest from 0% to 29.88% per annum.

7. Zype

Zype provides you with up to Rs. 5 lakhs instant Personal loans. You may pay the loan from 3 months to 12 months tenure. The loan processing fee is up to 5% of the loan amount.

 Zype is taking the flexible interest rate from 18% to 36% per annum. Smartphones will require you to apply for this instant loan.

Benefits of Instant Personal Loan Apps

Instant Disburse: The loan disbursement process is fast. Within 30 minutes, you will get the loan.

No Brunch Visit: You don’t have to visit brunch. You can apply through an online application.

No Income Required: Applicants are eligible to apply without income proof. Only KYC documents will require.

No Verification: You will get the loan without verification. This is an instant process.

Minimum Paperwork: Just upload the KYC documents at application time. No hard copy will require.

Eligibility Criteria for Instant Personal Loan

Before applying for an instant loan, you should check the eligibility criteria below:

  • Indian Citizenship
  • No overdue in the previous loan
  • 730+ CIBIL Score required
  • Aadhaar-linked mobile number
Also Read: Personal Loan for Minimum Salary 15000

Instant Loan Required Documents

  • Pan Card (Identity proof)
  • Aadhaar Card (Address Proof)
  • Active Bank account

How to Apply for Instant Personal Loan

Step 1:  Download the application from Google Play Store.

Step 2: Sign up through a mobile number.

Step 3: Complete the KYC process.

Step 4: Upload documents & Selfie picture of a customer.

Step 5: Lender will check eligibility & give you a loan offer.

Step 6: Now, complete the e-mandate process through net banking or a debit card.

Step 7: Within a second, money will credit to your bank account.

FAQs on Instant Personal Loan

Which app can give an instant 20,000 loan?

We give you the top 7 instant personal loan applications. You may use Privo, Navi, or Money View to get an instant 20,000 loan.

Can I get the loan without income proof?

The applicant may get an instant loan without income proof. You will require KYC documents only at loan application time.

Is a bank statement required to get the instant loan?

Some apps take the bank statement at loan application time. Navi & Money View takes the applicant’s bank statement. You can apply through another application without a bank statement.

How much CIBIL score need to get the instant loan?

A minimum credit score of 730+ is required to apply for an instant loan.

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