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Best Personal Loan Applications In India 2022

In this blog, we are going to learn about some of the best personal loan applications in India in 2022 that will help you in getting a loan quicker than usual by authorized banks.

Top 10 Personal Loan Applications in India:

  • Bajaj Finserv
  • PayMeIndia
  • Dhani
  • CapitalFirst Limited
  • mPokket
  • Rupeelend
  • PaySense
  • Cashe
  • Money Tap
  • Smart Coin

Nowadays, everything is turning digital, such as studying, shopping, and banking too. All the related processes in the banking system have changed and transformed as well. And one of those many transformations is the process of getting a loan.

Remember the time when you used to go to the bank with a bundle of documents that were required to fill out a loan application form? It was a hectic process, right? Well, now, thanks to the digital enhancement in the technological department, getting a bank-approved loan is easier now.

Multiple personal loan applications in India, available to be downloaded through Apple Play Store or Google Play Store. You can easily get the amount you need within a couple of minutes just by a few clicks.

Top Personal Loan Applications in India:

Asking for money from friends, relatives, or family members sometimes feels a little embarrassing. But asking from a loan application online that is built to help you with the financial crisis will never judge you.

Above you were introduced to the names of the best personal loan applications in India, now we let’s read in brief about their requirements, eligibility criteria, and other details.

Bajaj Finser

Bajaj Finserv is one of the human-made personal loan applications that offer personal loans with instant approval and within 24 hours loan amount transaction. People who are eligible for getting loans from this personal loan application are women, government and public sector employees, schoolteachers, college professors, and others.

Interest Rate: Starts from 12.99%

Minimum to Maximum Loan Amount: Up to Rs. 25 Lakhs

Application Rating: 3.9

Eligibility

Nationality: Indian

Net Salary: Rs. 22,000 or higher

Age: 21-67 years

CIBIL Score: 750 or higher

PayMe India

PayMe Indian is another great personal loan application in India with many beneficial offerings. PayMe India does not just offer short-term financial needs but also takes care of the last-minute necessities such as rent payment, medical emergency, paying bills, booking tickets, and numerous others. All these offerings make PayMe India one of the most versatile personal loan applications in India as it is also easy to register oneself on the platform and complete the KYC process online.

Interest Rate: 2-6%

Minimum to Maximum Loan Amount: Rs. 10,000 to Rs. 1,00,000

Application Rating: 3

Eligibility

Nationality: Indian

Age: 21-58 Years

Net Salary: Rs. 15,000

CIBIL Score: 750 or above

Dhani

Dhani is another great instant personal loan application in India, without requiring much documentation. The amount transacts into one’s account within 24 hours, also, it’s easy to apply and beneficial with cashback and/or instant payments of bills, or other necessities.

Interest Rate: 1-3.17%

Minimum to Maximum Loan Amount: Rs. 1,000 to Rs. 15 Lakhs

Application Rating: 3.9

Eligibility

Nationality: Indian

Age: 21 years or above

Net Salary: Rs. 25,000

CIBIL Score: 750 or above

CapitalFirst Limited

Capital First Limited is another instant personal loan application in India that is a one-stop solution for financial help. The loan application is sanctioned in a couple of minutes and the amount is transferred into the bank account within 24 hours. The company also provides repayments and allows the loaner to check the outstanding payments which makes it reliable to use.

Interest Rate: 1.16 -1.33%

Minimum to Maximum Loan Amount: Rs. 1 Lakh to Rs. 25 Lakhs

Application Rating: 4.4

Eligibility

Nationality: Indian

Age: 21-58 years

Net Salary: Rs. 15,000 to Rs. 25,000

CIBIL Score: 750 or above

mPokket

mPokket is basically an instant personal loan application in India for college students. It can be used as pocket money or some extra money for the students who are in urgent need. The amount Is either transferred to the bank account or in the Paytm wallet. As this loan application is built for students, that’s why the initial loan amount is Rs. 500.

Interest Rate: Starts from 3.5%

Minimum and Maximum Loan Amount: Rs. 500

Application Rating: 4.5

Eligibility

mPokket is created for college students, so they must be enrolled in college, have a bank account, and also, have an android phone linked to the account.

RupeeLend

Again, another quick personal loan application in India, RupeeLend offers short-term credit to individuals and businesses. The loan process is a quick step of a couple of minutes and can be used for bill payments, rent payments, and numerous other emergencies.

Interest Rate: 3-30%

Minimum to Maximum Loan Amount: Rs. 10,000 to Rs. 1,00,000

Application Rating: 3

Eligibility

Nationality: Indian

Age: 21 years or above

Net Salary: Rs. 20,000 to Rs. 25,000

CIBIL Score: 750 or above

PaySense

PaySense’s loan application form helps an individual to overcome financial problems with a reasonable rate of interest, even without salary slips. With this application, personal loans get approved in a minimal time. They also provide a variety of low EMI plans to make loan payments simple.

Interest Rate: 1.08-2.33%

Minimum to Maximum Loan Amount: Rs. 5,000 toRs. 5 Lakh

Application Rating: 4

Eligibility

Nationality: Indian

Age: 21 years or above

Net Salary: Rs. 12,000 or above

CIBIL Score: 750 or above

CASHe

Any person can easily register for this one of the best personal loan applications in India. With a few simple steps, anyone who is eligible to apply for a loan and is in need can get a loan instantly. This application has a feature of Buy Now Pay Later partnership with Flipkart, Amazon, Big Basket, and others.

Interest Rate: Starts from 1.75%

Minimum to Maximum Loan Amount: Rs. 5,000 to Rs. 2 Lakhs

Application Rating: 4.2

Eligibility

Nationality: Indian

Age: 23-58 years

Net Salary: Rs. 12,000

CIBIL Score: 750 or above

Money Tap

Money Tap is India’s fastest instant loan online application, providing services at the best rates. Any person with a good credit score can be eligible for a loan. This application doesn’t require a lot of paperwork and can be easily installed and utilized. The loan transfers into the account quicker, and the interest rates are reasonable too.

Interest Rate: 1.08-2.03%

Minimum to Maximum Loan Amount: Rs. 3,000 to Rs. 5 Lakhs

Application Rate: 4.3

Eligibility

Nationality: Indian

Age: 23-55 years

Net Salary: Rs. 20,000

CIBIL Score: 750 or above

Smart Coin

Smart Coin is a user-friendly and scalable lending platform and one of the most integrated personal loan applications in India. Providing instant loans at reasonable rates, minding average income. People who can take loans from this application are business owners, teachers, and others. Individual loans for a short time. 

Interest Rate: 2.5-3%

Minimum to Maximum Loan Amount: Rs. 1,000 to Rs. 25,000

Application Rate: 4

Eligibility

Nationality: Indian

Age: 23 years or above

Net Salary: Rs.15,000

CIBIL Score: 750 or above

WRAP UP: There are many other personal loan applications in India like some of the above-mentioned applications. The only requirement for KYC in each application is address proof, nationality proof, and other such documents, but everything online.