5 Best Instant Loan Apps in India

The process of getting an instant cash advance in times of emergencies has been changed drastically in the past few years. With their growing online presence, instant loan apps have made it to the top of the list of preference when it comes to ease and convenience. The procedure for application & relationship management is very different and easy with online loan apps as compared to traditional banks. There are some basic pre-requisites like having a desirable CIBIL score, fulfilment of eligibility criteria which generally includes age, salary or citizenship etc. Once checks are passed, you can be sure of getting an approval for your instant loan.

What exactly are instant loan apps?

Instant loan apps are mobile applications that cater to your financial needs and serve you, in some ways, like banks. They have a range of facilities to offer to their customers along with personalised & pre-approved offers. They are available for both android as well as iOS users.

What are the best loan apps currently?

1) Dhani –

This is one of the newest entrants in the lending market and offers instant personal loan amount of up to 1 lakh. This online loan app is particularly popular for small cash, short term loans. It also offers healthcare services, Demat Trading, Travel booking etc.

2) Bajaj Finserv app –

This is the instant loan app of one of the leading NBFCs in India and has a pan-India presence. It has a wide range of products and services to offer personal loan, home loan, professional loan, healthcare, insurance, stock trading, bill payments and much more. You can avail large funding of up to 25 lakh. You can easily manage and track your loan details with this app.

3) RapidRupee

This budding lender in the world of instant loan apps has gained popularity soon enough. This app provides instant personal loans of small amounts i.e 1000/- to 60,000/- Rs. Hence, if you have a small cash loan requirement, it can be an ideal option. This platform also has a pan-India presence which is another plus point.

4) Kissht

Started in 2015, Kissht has gained popularity in the lending business for its easy accessibility. It offers an instant Loan of up to Rs 1 lakh. It has the lowest salary pre-requisite of Rs. 12,000/- & age of the applicants should be 21 years and above. However, a low amount of funding is one of the cons of this application.

5) Money Tap –

Money Tap offers instant Personal Loan starting from Rs 3000/- to up to Rs 5 lakh. You must be in the age range of 23 to 55 years & have a monthly income of a minimum of Rs 20,000/- This app provides financial assistance only in a limited number of cities which can hinder its reach and popularity.


App Name Max. Loan Offered
Dhani 1,00,000/-
Bajaj Finserv 25,00,000/-
RapidRupee 60,000/-
Kissht 1,00,000/-
MoneyTap 5,00,000/-


What are the benefits of online loan apps?

1) Loans for all your needs – Big or small, instant loan apps can offer small cash loan as well as large funds.

2) Instant loan apps are easy & convenient to use given the digital nature and 24 x 7 availability. Unlike banks, they operate day & night, even on holidays!

3) You can get instant approval post verification & the loan amount gets disbursed within a few minutes.

4) The documents required are basic and minimum with no hassle like banks.

5) You can easily manage and track your loan details and avail a wide range of additional services the online loan apps have to offer.

What are the steps to use an online loan app?

1) Download & Install the application –

You will have to first download the online loan app from the PlayStore/App Store and install it on your phone.

2) Login & Applying –

You will now have to login & register yourself on the app using your mobile number & the OTP. Once this is done, you can search for whichever financial service you need. Click on the ‘Apply Now button at the bottom of the page and fill in some basic details.

3) Verification –

The representatives will get in touch with you regarding your application and may ask for certain documents required for the approval of your loan. Once you completely fulfil the eligibility criteria, you may receive the approval & disbursal of your loan amount shortly.

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