Best Personal Loan Apps in India

Personal loans are mainly known as an unsecured form of credit that is popular to meet immediate financial requirements. It is multi-purpose in nature and therefore, it can be used for various purposes such as home renovation, wedding, travel purposes, and more. However, there is no restriction for the amount of loan borrowed and to build the credit faster with the help of choosing from the best personal loan apps in India.

Features and benefits of personal loan 

  • Easy approval: It can be easy to get the personal loan approval as it makes the task quick and easy. That is why the user applies for an instant personal loan for a financial emergency. However, the process of the instant loan becomes digital and it takes less time in the verification process. 
  • Multipurpose in nature: A personal loan can be used for any purpose except investment and illegal activities. Apart from that, it is multipurpose and can be used for anything that makes other forms of credit when taken for a specific purpose and only for the same. 
  • No collateral required: One of the main points of benefit associated with an online personal loan is that it is unsecured. It means that there is no need to pledge any collateral for your loan. Although this can be a reason for your interest rate, and to get a low-interest rate personal loan that meets the eligibility check. 
  • Minimal documentation: In this age of digitalization, the process of verification and documentation has now become short with the online process. This loan is applicable for an instant personal loan as they are fast disbursal and require minimum documents for approval.  

Eligibility criteria of personal loan

Personal loans are provided by most of the banks /NBFCs with different eligibility checks. However, certain criteria are common in nature for all financial institutions. To get certain eligibility criteria, here are some essential points for salaried and self-employed individuals are: 

  • The age of the applicant should be at least 18 years or 21 years for salaried and self-employed individuals. 
  • The maximum age limit of the applicant should be 60 years or 21 years for salaried and self-employed individuals. 
  • The employed type should be salaried and self-employed professionals. 
  • Minimum net income should be Rs. 15,000 p.m. in non-metro cities and Rs. 20,000 in metro cities. 
  • The loan amount of the applicant is up to Rs. 50 lakhs depending on the credit profile. 
  • Work experience for salaried employees is at least 6 or 12 months and continuity of business tenure for self-employed is at least 3 years. Apart from this ITR of the last 3 years should be submitted. 

Best personal loan apps in India 2021

In today’s market, many online lenders may create confusion about where should be applied for the loan. To get help and find what you are looking for, here is the list of best instant personal loan apps: 

  • Afinoz Instant Personal Loan app 
  • A simple way to use an end-to-end digitalized loan application process 
  • There are some additional benefits like cashback up to Rs. 5,000 on disbursal loan. 
  • With a single application, the applicant can compare and apply for a suitable loan amount. 
  • There will be complete security for using the financial data through the app. 
  • The applicant will get real-time updates about different financial products. 
  • It can be easy to access all your records anytime and anywhere. 


StashFin Instant personal loan app

StashFin is a digital lending application that was founded by professionals who are using their experience in finance, banking, and technology in various multinational firms to lend money online for their instant use.

  • The user offers personal loans starting from Rs. 500 up to Rs. 5 lakhs. 
  • The repayment of the loan is equated to monthly installments only online. 
  • The interest rate is starting from 3 to 36 months. 
  • The only processing fee is included, there are no other hidden charges for the loan. 

ZestMoney instant personal loan

 ZestMoney app is the fast way to get an instant loan that can be used digitally to pay back the loan in equated monthly installments (EMIs). For using this personal loan app, there is no need for a credit card. 

  • ZestMoney app does not require you to have a credit score. 
  • The loan application processing within 5 minutes. 
  • The maximum loan amount is up to Rs. 1 lakh that sanctioned instantly. 
  • The user can earn 100% cashback on your EMIs. 
  • The user will get a gift card from online partners such as Flipkart, Makemytrip, Amazon, and Myntra. 

Smart coin Instant Personal loan app 

  • Smartcoin app offers instant personal loans starting from Rs. 1,000 and going up to Rs. 50,000. 
  • Loans are offered to professionals, executives, and businessmen. 
  • The tenure period of the loan starts from 15 days up to 4 months. 
  • A simple way to use the app. 
  • The loan application process is quick. 
  • The money is directly credited into your bank account within 2 working days. 

Indiabulls Dhani personal loan app 

  • Indiabulls offers personal loans within minutes up to Rs. 15 lakhs. 
  • The user can easily avail of the loan amount of at least Rs. 1,000. 
  • This app is supported by Indiabulls ventures. 
  • This loan application has tenure starting from 3 months up to 20 months. 
  • These are unsecured loans offered to the applicants. 
  • The processing fee of the loan application is 5% of the loan amount. 
  • A loan is up to Rs. 15,000 for online users. 
  • The interest rate is offered for the loan is 11.99% of the loan. 
  • Get the loan amount instantly. 

ePaylater instant personal loan app

  • This loan app offers payments to multiple online merchants. 
  • There is a buy-now-pay-later option that will start within 14 days without any interest from the date of order placed. 
  • The loan amount starts from Rs. 1,500 and goes up to Rs. 20,000. 


It can be easy to choose the application from the above listed instant personal loan application. The user can easily choose the best instant personal loan app from the above list such as the Afinoz personal loan app, Smartcoin personal loan app, ePaylater instant personal loan app, and more. You can choose the app according to your financial requirements.

Read More: How Personal Loan can be a Great Financial Support for you?