Which is the Best App to Get a Personal Loan up to 1 Lakh?

There are dozens of apps that loan seekers use to access personal loans. Apps disburse loan faster than traditional lenders. Which one is the best app to get a personal loan depends on various factors like interest rate, loan amount range, and eligibility criteria required among others?

Here are the top 10 apps for an instant personal loan. You can compare the rates and other terms to decide which app offers you the best deal. 

Here is a list of top 10 apps that offer instant personal loans online.

Top 10 apps for an instant personal loan in India

App Interest rate (per month) Loan amount (Up to)
Indiabulls Dhani 13.99% Rs. 1,000 – 15 lakh
PaySense 1.4% to 2.33% Rs. 5,000 – 2 lakh
EarlySalary 2% to 2.5% Rs. 5,000 – 2 lakh
MoneyTap 1.25% Rs. 3,000 – 5 lakh
CASHe 1.5% Rs. 10,000 – 2 lakh
MoneyView 1.33% Rs. 10,000 – 5 lakh
FlexSalary Depends on risk profile Rs. 4,000 – 2 lakh
PaymeIndia 2% to 6% Rs. 500 – 2 lakh
Credy 1% to 1.5% Rs. 10,000 – 1 lakh
LoanTap 1.25% to 2% Rs. 50,000 – 5 lakh

Note: Rate of interest and other charges are subject to periodic change and lenders have sole discretion to decide. 

Indiabulls Dhani personal loan

Backed by Indiabulls ventures, Indiabulls Dhani is one of the best apps for instant personal loans. With Indiabulls Dhani, you can get a personal loan from Rs. 1,000 to Rs. 15 lakh online. The interest rate applicable to the personal loan starts from 13.99% per annum.  

EarlySalary personal loan

EarlySalary offers an instant cash loan ranging from Rs. 5,000 up to Rs. 2 lakh for interest rate within the range of 2% to 2.5% per month. EarlySalary personal loan processing fee is 2%. The prepayment charge is not applicable on an EarlySalary personal loan. The procedure for applying for a loan is completely digital. 

PaySense personal loan

PaySense has tie-ups with leading NBFCs, IIFL and Fullerton. You can get a personal loan up to Rs. 2 lakh at an interest rate ranging from 1.4% to 2.33% per month through the PaySene app. Loan amount, tenure and rate are decided based on risk profile. 

MoneyTap personal loan

MoneyTap in partnership with multiple banks and NBFCs (Non-Banking Financial Companies), offers instant customized personal loans to newly appointed employees to help them fulfil their short-term credit needs. Depending on their credit limit, borrowers can get a personal loan from Rs. 3,000 to Rs. 5 lakh, for a flexible repayment tenure 2 months to 36 months. Interest is applicable only on the amount used; no interest on the unused loan amount. 

CASHe personal loan

Young professionals without credit history can get short-term personal loans using CASHe app. A personal loan from Rs. 10,000 to Rs. 2 lakh is available at CASHe. The app is getting popularity among young professionals; it has severed millions of customers. 

Personal loans are available at an affordable interest rate starting from 1.5% per month, and the loan can be repaid within 15, 30, 90, or 180 days. 

MoneyView personal loan

The entire loan process from application to disbursal and repayment is app-based on MoneyView.  You can get an unsecured personal loan from Rs. 10,000 to Rs. 5 lakh for a flexible repayment period of 3 months to 60 months. MoneyView personal loan interest rate ranges from 1.33% to 2.5% per month. 

FlexSalary personal loan

Using FlexSalary app, salaried borrowers can get instant personal loans from Rs. 4,000 up to Rs. 2 lakh for various financial needs. Users can sign up or log in FlexSalary app via social media account to apply for a personal loan. After instant approval and document verification, the loan amount is credited to borrowers’ bank account within minutes. 

Payme India personal loan

PaymeIndia app uses data science and modern technology to assess an applicant’s eligibility. Corporate employees can access quick cash and short-term loans from Payme India. A short-term cash loan from Rs. 1,000 up to Rs. 1 lakh is available on Payme India. Rate of interest applicable personal loan through Payme India ranges between 2% to 6% per month. 

Credy personal loan

Credy personal loan app is one of the best personal loan apps in India. You can get a hassle-free and paperless personal loan up to Rs. 1 lakh using Credy app to meet your short-term financial goals. The loan is available at low interest rate starting from 1% per month for a flexible period ranging from 3 to 12 months. 

LoanTap personal loan

 Salaried professionals and self-employed individuals alike can get a personal loan from Rs. 50,000 -Rs. 5 lakh using LoanTap app. The app uses its proprietary algorithm to extend several customized personal loans for several financial needs including medical bills, home renovation and exotic vacation. LoanTap personal loans are categorised as EMI Free Loan, Credit Card Takeover Loan, Advance Salary Loan, Rental Deposit Loan, and a lot more. The interest rate applicable on LoanTap personal loan ranges from 15% per annum to 24% per annum and processing fees up to 2% of the loan disbursed + GST.  

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