Top 5 instant loan apps in 2022 | Best instant loan app

Beat Sync

IMG 20221216 183245 053

Top 5 instant loan apps in 2022 | Best instant loan app

India is changing, and with it, the mindsets, practices, norms, and habits of Indians are also changing. For instance, taking a loan is no longer taboo today. Young individuals have been taking loans from the best loan apps in India for various purposes like studying overseas, financing a holiday, renovating their house, buying a car, and even for their wedding.

To fuel the dreams of today’s ambitious population, many organizations have started offering funds. Money lending apps in India have become popular owing to the many benefits – customized loans, low-interest rates, online credit cards, the simple application process, and 24X7 tracking.

Multiple instant loan apps in India in 2022 offer a fast, paperless, and hassle-free way of getting quick access to funds to fulfill your dreams or help you during a financial emergency.

In this blog, we have listed some of the best loan apps in India that have taken the market by storm and are changing the way Indians borrow! We have also made a loan app comparison table for your perusal. Get information about the best instant personal loan apps in India in 2022 by giving this a read.

1. PaySense

PaySense, one of the best instant loan apps in India, has both an app and a website where salaried professionals and self-employed individuals can apply for instant loans. The minimum salary to get a personal loan is ₹18,000 per month. Also, self-employed individuals who earn a minimum of ₹20,000 per month can borrow from PaySense.

The interest rate of the loan app is from 16% to 36% (APR) on a reducing balance basis. You can use the instant personal loan from PaySense as a home renovation loan, laptop loan, and marriage loan, among others.

Founded by Sayali Karanjkar and Prashanth Ranganathan in Mumbai, the company has partnered with NBFCs/Banks registered with RBI such as Fullerton, IIFL, Credit Saison India, Northern Arc, and PayU Finance for the disbursal of loans. PaySense has raised a total of $25.6M over three rounds of funding.

The PaySense App is available for download on the Google Play Store. After installing the app, all you need to do is check your eligibility and upload the necessary documents. You are allowed to choose a tenure from 3 months to 60 months to pay back the loan. PaySense offers an EMI calculator to help you calculate the EMI you shall pay every month.

The best part is that you are not required to submit any collaterals or securities, nor are you required to have a high credit score to avail of a loan from PaySense.

Founded in: 2015 : Minimum Loan Amount: ₹5,000 : Maximum Loan Amount: ₹5,00,000

2. CASHe

CASHe is a great way to secure funds during an emergency or financial crisis. All you need to do is download the CASHe App on your phone. You can find it on Google Play Store as well as Apple Store. Upload the necessary documents on the app; once approved, the loan amount is credited to your account in just a few minutes. You can also transfer a part of your loan amount directly to your Paytm Wallet.

Do note that CASHe approves loans based on the social profile, merit, and earning potential of the borrower by using a proprietary algorithm-based machine learning platform.

Founded in: 2016 : Minimum Loan Amount: ₹7,000 : Maximum Loan Amount: ₹4,00,000

3. EarlySalary
Do you often get out of cash in the middle of the month? And are worried about meeting the expenses for the rest of the month? EarlySalary gets you covered when the next payday is far away. A unique personal loan app for salaried professionals, this app provides a loan amount up to ₹5,00,000 for all your needs.

The Pune-based fin-tech start-up also allows you to pay back the loan in easy EMIs within 24 months. Gaining popularity among the young generation, EarlySalary raised ₹100 crores in series B funding led by Eight Roads Ventures and IDG Ventures India.

Founded in: 2015 : Minimum Loan Amount: ₹3,000 : Maximum Loan Amount: ₹5,00,000

4. Nira

Nira is also one great money lending app in India. After you download the app, you can determine if you qualify for the loan in just 3 minutes. If you are eligible, you are given a credit line of ₹1,00,000. You can withdraw about ₹5000, or more anytime you need the money and payback in easy installments in 3 to 24 months.

The best part is that you don’t need to have a high credit score to apply. So, if you need some money urgently, Nira is a good option. The app had picked up $1 million in seed funding.

Founded in: 2018 : Minimum Loan Amount: ₹5,000 : Maximum Loan Amount: ₹1,00,000

5. KreditBee

Amongst the many loan apps built to help young professionals, KreditBee is one of the best online loan apps in India. You can borrow an amount as little as ₹1000 and as much as ₹2 lakh. Anyone above 18 years and earning at least ₹10,000 per month can download the app and apply for the loan.


The entire process happens on the app, and there is no need for physical verification. After uploading the necessary documents, you need to wait for verification and approval. Once approved, the loan amount is directly credited to your bank account. This app is highly rated and a favourite among young professionals.

Founded in: 2015 : Minimum Loan Amount: ₹1,000 : Maximum Loan Amount: ₹2,00,000

Leave a Reply

Your email address will not be published. Required fields are marked *