Gone are the days of traditional banking! Applying for a regular personal loan can eat up a major chunk of your time and you might still not get the required benefits. You must have noticed a new change in the lineup of the best personal loan online. Now, when you search for the best personal loan in India, you come across a new word “instant” attached to personal loan products. What does this “instant” signify? Is it any different than a regular personal loan? Is it better than a regular personal loan for that matter?

Also Read: – 5 TIPS TO NAIL PERSONAL LOAN APPROVAL

Today we’ll answer all your questions and give you a list of top 10 instant personal loan in India:

Instant Personal Loans V/s Regular Personal Loan

The above table can answer all your questions. You can clearly see that even if the Loan cap is higher in the case of regular personal loans, availing an instant personal loan online is much more easy and convenient. Most importantly, it is so quick that you won’t believe your eyes!

So now, we bring you a list of the Top 10 instant personal loans in India:

1. MoneyTap

Interest rate: 1.08 – 2.03% per month

Loan amount: INR 3,000 – INR 5 lakhs

MoneyTap is known as India’s first credit line application. MoneyTap is basically a funds lending company with flexible interest rates and is currently servicing clients in Delhi NCR, Mumbai, Bangalore, Hyderabad, and Chennai and 30+  other cities in India. The best feature on this app is that it allows you to use the limit you have been given and get charged for that amount only. So, if you do not use a part of your credit line you will not be charged for it.

2. CASHe

Interest rate: Starting from 1.75% per month

Loan amount: INR 5,000 – INR 2 Lakhs

CASHe is a digital lending platform that is available to the consumers as a cash loan app. You can check loan eligibility and interest rates using an interactive calculator. You can get approved for up to INR 2 lakhs with tenures ranging from 15 days to 6 months. The documentation process is quick and easy, and the best part is that you get the option of repaying through bank transfers or cheque deposits.

3. KreditBee

Interest rate: 2-3% per month

Loan amount: INR 1,000 – INR 1 lakhs

KreditBee is an instant personal loan application for new-age professionals. You can easily get a loan of up to ₹ 1 Lakh with this app. This cash loan app gives you one of the quickest disbursements: 15 mins, the amount you want to borrow is directly credited to your bank account.

4. Home Credit

Interest rate: 2.4 – 3.3% per month

Loan amount: INR 10,000 – INR 2 lakhs

This personal loan application is a part of the international Home Credit Group and is currently servicing clients across 10 countries in Europe and Asia. Home Credit made its debut in India in 2012 and has made its place in 15 states across 60 cities. With Home Credit, you can get tenure options ranging from 9 months to 4 years.

5.Early Salary

 Interest rate: 2. 2.5%

Loan amount: INR 3,000 – INR 2 lakhs

Early salary is another personal loan app that has made a name for itself in the Indian market. This new-age personal loan company is based out of Pune and has been in the news for quite a while now. This loan company also has flexible loan tenures ranging from INR 3,000 to INR 2 lakhs.

6. PaySense

Interest rate: 1.08 – 2.33%

Loan amount:  INR 5,000 – INR 5 lakhs

PaySense is an instant cash loan app where you can easily avail instant loans online. You can simply check your loan eligibility, submit your KYC documents, and apply for the required loan amount. You can get approved for your desired loan amount within 5 hours.

7. Dhani

Interest rate: 1 – 3.17%

Loan amount: INR 1000 – INR 15 lakhs

Known as the “Phone se Loan” application, Dhani has been widely recognized as one of the best apps for instant personal loans online. All you have to do to avail your desired amount is to download the app and fill in the KYC documents. The loan amount is disbursed within minutes to your bank account.

8.IndiaLends

Interest rate: 0.9 – 3%

Loan amount: INR 15000 – 50 lakhs

IndiaLends is another well-known instant loan app in India. The best part about this application is that you can check your credit score for free and get your desired loan amount within 48 hours with the best interest rate offers.

9. Capital First

Interest rate: 1.16 – 1.33%

Loan amount: INR 1 lakh – INR 25 lakhs

Capital First is one of those rare lending companies in India which provides instant personal loans in the range of 1 lakh – 25 lakhs with tenure options of 1 to 5 years. Your application just takes 2 minutes to get sanctioned and the rest of the procedure is easy and quick.

10. LazyPay

Interest rate: 1.2 5 -2.6 %

Loan amount: 10,000 – 1 lakh

 Powered by PayU, this is an Indian cash loan app which disburses 1 million + loans every month. You can easily avail an instant personal loan of up to INR 1 lakh with minimal documentation and quick disbursal.

These are some of the best instant personal loans in India. If you want to check out some instant personal loan offers online, Click here.