Top 36 RBI Approved Loan Apps In India 2023
Hello friends, hope you are doing great. In the world of technology, where everything is available at the fingertip. Why not have an app that is there for your small need? Friends if you are looking for the top 36 RBI Approved Loan Apps in India for your small needs, then you are at the right place. In this article we will be providing you with the top 36 rbi approved loan apps in India.
Top 36 RBI Approved Loan Apps In India 2023
There are many RBI approved loan app in India. but we have we have collect some best RBI approved loan apps in India list for you that is Pay sense, CASHe, Mpockket, Money View, India Lends, Pay me India, IDFC First, Home Credit, Money Tap, Dhani, Buddy Loan, FlexSalary App, Navi app, Lazypay, Nira loan app, Kreditbee, etc.
The given below list are all approved by RBI so you can trust this apps:
| Pay sense | Rupeelend |
| CASHe | Loanfront |
| Mpockket | Anytime Loan |
| Money View | Bonn Credit |
| India Lends | CreditFair |
| Pay me India | LoanAdda |
| IDFC First | LoanTap |
| Home Credit | Qbera |
| Money Tap | Quick Credit |
| Dhani | Shubhloan |
| Buddy Loan | ZipLoan |
| FlexSalary App | AnyTimeLoan |
| Navi app | ZipLoan |
| Lazypay | StashFin |
| Nira loan app | MobiKwik |
| Kreditbee | ftcash |
| Finova Capital | Capital float |
| ZestMoney | Lendingkart |
Also, read this–
RBI Approved Loan Apps In India With Their Name And Credit Limit 2023
| Sr No. | Name Of Apps | Their Credit Limit |
|---|---|---|
| 1 | Pay sense | up to ₹5 Lakh |
| 2 | CASHe | up to ₹2 Lakh |
| 3 | Mpockket | up to Rs ₹30,000 |
| 4 | Money View | ₹13,500 or More |
| 5 | India Lends | up to ₹2 Lakh. |
| 6 | Pay me India | More than ₹2 Lakh |
| 7 | IDFC First | up to ₹5 Lakh |
| 8 | Home Credit | up to ₹75,000 |
| 9 | Money Tap | up to ₹5 Lakh |
| 10 | Dhani | up to ₹5 Lakh |
| 11 | Buddy Loan | up to ₹15 Lakh |
| 12 | FlexSalary App | up to ₹2 Lakh |
| 13 | Navi Apps | up to ₹20 Lakh |
| 14 | Lazypay | up to ₹1 Lakh |
| 15 | Nira loan app | up to ₹12,000 |
| 16 | Kreditbee | up to ₹3 Lakh |
Apps And Their Headquarters Location
| Apps Name | Headquarters Location |
|---|---|
| Pay sense | Mumbai, Maharashtra |
| CASHe | Mumbai, India |
| Mpockket | Kolkata, West Bengal |
| Money View | Bangalore, Karnataka |
| India Lends | Gurugram, Haryana |
| Pay me India | Noida Gautam Buddha Nagar UP |
| IDFC First | Mumbai |
| Home Credit | Amsterdam, Netherlands |
| Money Tap | Bengaluru, Karnataka |
| Dhani | New Delhi – India |
| Buddy Loan | Bengaluru. |
| FlexSalary App | Hyderabad |
| Navi app | Bengaluru |
| Lazypay | Mumbai |
| Nira loan app | Bengaluru, Karnataka |
| Kreditbee | Bangalore,Karnataka |
Rating List RBI Approved Loan Apps In India
| Apps Name | Interest rate | Rating |
|---|---|---|
| Pay sense | 16% to 36% (APR) | 1.6 |
| CASHe | 2.25% per month | 1.7 |
| Mpockket | 1% to 6% per month | 3.0 |
| Money View | 1.33% Per Month | 3.7 |
| India Lends | 10.75% to 25% | 3.5 |
| Pay me India | 18% to 42% | 4.4 |
| IDFC First | 6.25% to 7.5% | 4.3 |
| Home Credit | 2% per month | 4.2 |
| Money Tap | 13 – 24.03% | 5.0 |
| Dhani | 13.99% onwards | 3.5 |
| Buddy Loan | low as 11.99% | 4.0 |
| FlexSalary App | 18% to 54% | 4.8 |
| Navi app | starting at 9.9% | 4.2 |
| Lazypay | 18% to 28% | 4.2 |
| Nira loan app | 1.67% to 2.25% | 5.0 |
| Kreditbee | 0% to 29.88% p.a | 4.8 |
Important Document For Your Loan
Document Name-
- Aadhaar Card.
- PAN Card.
- Voter ID.
- The bank statement must be given.
- Take a selfie from the loan app.
Eligibility For Your Loan
| Age | 21-55 |
| Nationality | Mast has been an Indian |
| Income | And credit score and credit history should also be fine. |
| Must have internet banking with a banking account | |
| KYC Document | Aadhaar card PAN card must have and mobile linked to the Aadhaar card |
Detail Information About RBI Approved Loan Apps In India
Finova Capital: rbi approved loan apps in India
- Finova Capital is an RBI-approved non-banking financial company that provides loans to small and micro-enterprises in India. Here are some key points about Finova Capital:
- The company offers loans ranging from INR 50,000 to INR 10 lakh to micro and small businesses, as well as individuals.
- The loan application process is entirely digital, with minimal paperwork required.
- The company uses advanced technology and data analytics to assess the creditworthiness of applicants.
- Loan disbursement is fast, with funds typically being transferred to the borrower’s account within 48 hours of loan approval.
- The company also offers flexible repayment options to borrowers.
- Interest rates are competitive and vary depending on the loan amount and repayment tenure.
- Finova Capital has a presence in 17 states across India, with over 350 branches.
ZestMoney: rbi approved loan apps in India
- ZestMoney is an RBI-approved fintech company that offers digital credit services to consumers in India. Here are some key points about ZestMoney:
- The company provides loans for online purchases, including consumer durables, electronics, and travel bookings.
- Loan amounts range from INR 5,000 to INR 5 lakh, with repayment periods ranging from 3 to 24 months.
- ZestMoney uses a proprietary credit-scoring algorithm to assess the creditworthiness of applicants.
- Loan approvals are fast, with funds typically being disbursed within 24 hours of approval.
- The company partners with several leading e-commerce platforms, including Amazon, Flipkart, and Myntra.
- Interest rates are competitive and vary depending on the loan amount and repayment tenure.
- ZestMoney has a presence in over 1,000 cities and towns across India.
Rupeelend: rbi approved loan apps in India
- Rupeelend is an best RBI-approved loan apps in India, that offers short-term personal loans to borrowers in India. Here are some key points about Rupeelend:
- The company provides loans ranging from INR 1,000 to INR 50,000, with repayment periods ranging from 3 to 12 months.
- Loan approvals are fast, with funds typically being disbursed within 24 hours of approval.
- The company uses a proprietary credit-scoring algorithm to assess the creditworthiness of applicants.
- Interest rates are competitive and vary depending on the loan amount and repayment tenure.
- Rupeelend has a user-friendly online application process, with minimal paperwork required.
- The company has a presence in several major cities across India.
Loanfront: rbi approved loan apps in India
- Loanfront is the best RBI-approved loan apps in India, platform that provides personal loans, business loans, and other financial products to customers. The platform is known for its fast and hassle-free loan disbursal process, with loans being approved and disbursed within 24 hours of application. Here are some key features of Loanfront:
- Loanfront offers unsecured personal loans and business loans to customers with minimal documentation and eligibility criteria.
- Loan amounts range from Rs. 50,000 to Rs. 5 lakhs for personal loans and Rs. 1 lakh to Rs. 50 lakhs for business loans.
- The platform provides a repayment tenure of 3-24 months for personal loans and 6-36 months for business loans, making it easier for borrowers to repay their loans at their convenience.
- Loanfront uses advanced technology to assess a borrower’s creditworthiness, making it easier for customers with limited credit history to avail loans.
- The platform also provides attractive interest rates starting from 16%, making it a cost-effective option for customers in need of funds.
Anytime Loan: rbi approved loan apps in India
- Anytime Loan is a fintech platform and best RBI-approved loan apps in India that offers personal loans to salaried individuals, self-employed professionals, and business owners. The platform is known for its instant loan disbursal process, with loans being approved and disbursed within minutes of application. Here are some key features of Anytime Loan:
- Anytime Loan offers unsecured personal loans to customers ranging from Rs. 1,000 to Rs. 50,000.
- The platform uses advanced algorithms to assess a borrower’s creditworthiness and provides instant loan approvals and disbursals to eligible customers.
- Anytime Loan offers flexible repayment options ranging from 62 days to 365 days, making it easier for borrowers to repay their loans at their convenience.
- The platform charges a competitive interest rate of 2.5% per month on the loan amount, making it a cost-effective option for customers in need of funds
Bonn Credit: rbi approved loan apps in India
- Bonn Credit is a digital lending platform and best RBI-approved loan apps in India, that offers personal loans, business loans, and other financial products to customers. The platform is known for its easy loan application process and quick loan disbursal. Here are some key features of Bonn Credit:
- Bonn Credit offers unsecured personal loans ranging from Rs. 10,000 to Rs. 50 lakhs to customers with minimal documentation and eligibility criteria.
- The platform provides a repayment tenure of 6-60 months, making it easier for borrowers to repay their loans at their convenience.
- Bonn Credit uses advanced algorithms to assess a borrower’s creditworthiness, making it easier for customers with limited credit history to avail loans.
- The platform also provides attractive interest rates starting from 11.99%, making it a cost-effective option for customers in need of funds. Additionally, Bonn Credit offers customers the option of availing a top-up loan once their existing loan has been repaid, making it easier for them to avail credit in the future.
- Overall, these RBI-approved loans are a great way for customers to avail quick and hassle-free access to funds at competitive interest rates.
CreditFair: rbi approved loan apps in India
- CreditFair is the best RBI-approved loan apps in India also an online lending platform that provides quick personal loans for salaried individuals. The platform allows users to avail loans ranging from Rs. 5,000 to Rs. 1 lakh with flexible repayment options ranging from 3 to 12 months. The loan application process is entirely digital and can be completed in just a few minutes. Some of the notable features of CreditFair include:
- Instant approval: CreditFair provides instant approvals on loan applications, allowing users to receive the loan amount in their bank accounts within 24 hours.
- Competitive interest rates: The interest rates on CreditFair personal loans are competitive, making it an affordable option for borrowers.
- No collateral required: CreditFair does not require any collateral or security to be pledged against the loan amount, making it an ideal option for individuals who do not have any assets to pledge.
- Minimal documentation: The loan application process is entirely digital, and only requires minimal documentation, making it a hassle-free experience for borrowers.
LoanAdda: rbi approved loan apps in India
- LoanAdda is another RBI-approved online lending platform that provides personal loans, business loans, and loan against property to salaried and self-employed individuals. Some of the key features of LoanAdda include:
- Quick approval and disbursal: LoanAdda provides quick loan approvals and disbursals, ensuring that users receive the loan amount in their bank accounts within 24 hours.
- Flexible repayment options: LoanAdda offers flexible repayment options, ranging from 12 to 60 months, making it easier for borrowers to manage their finances.
- Competitive interest rates: The interest rates on LoanAdda personal loans are competitive, making it an affordable option for borrowers.
- Minimal documentation: The loan application process is entirely digital and requires minimal documentation, making it a hassle-free experience for borrowers.
LoanTap: rbi approved loan apps in India
- LoanTap is an RBI-approved digital lending platform that offers a range of loan products, including personal loans, EMI-free loans, and personal overdrafts. Some of the key features of LoanTap include:
- Customizable loans: LoanTap allows borrowers to customize their loan amount, tenure, and repayment options based on their individual needs and preferences.
- Quick approval and disbursal: LoanTap provides quick loan approvals and disbursals, ensuring that users receive the loan amount in their bank accounts within 24 hours.
- Competitive interest rates: The interest rates on LoanTap personal loans are competitive, making it an affordable option for borrowers.
- No prepayment charges: LoanTap does not charge any prepayment penalties, allowing borrowers to repay their loans without any additional charges.
Qbera: rbi approved loan apps in India
- Qbera is an RBI-approved online lending platform that offers personal loans, business loans, and loans against property to salaried individuals. Some of the key features of Qbera include:
- Customizable loans: Qbera allows borrowers to customize their loan amount, tenure, and repayment options based on their individual needs and preferences.
- Quick approval and disbursal: Qbera provides quick loan approvals and disbursals, ensuring that users receive the loan amount in their bank accounts within 24 hours.
- Flexible repayment options: Qbera offers flexible repayment options, ranging from 6 to 60 months, making it easier for borrowers to manage their finances.
- Competitive interest rates: The interest rates on Qbera personal loans are competitive, making it an affordable option for borrowers.
- Minimal documentation: The loan application process is entirely digital and requires minimal documentation, making it a hassle-free experience for borrowers.
Quick Credit: rbi approved loan apps in India
- Quick Credit is an RBI-approved online lending platform that offers instant personal loans to individuals who need money for various purposes, such as medical emergencies, weddings, education, and other financial needs.
- Quick Credit provides loans up to Rs. 5 lakhs with flexible repayment tenures ranging from 3 months to 36 months. The application process is simple, and individuals can apply for a loan online through the Quick Credit website or mobile application.
- Instant Approval: Quick Credit offers instant loan approval and disbursal within 24 hours of the loan application submission.
- No Collateral Required: Quick Credit offers unsecured loans, which means that borrowers do not need to provide any collateral or security to avail of the loan.
- Flexible Repayment Tenure: Quick Credit offers flexible repayment tenures ranging from 3 months to 36 months, which allows borrowers to repay the loan according to their convenience.
- Minimal Documentation: The loan application process is straightforward, and the documentation required is minimal.
Shubhloan: rbi approved loan apps in India
- Shubh Loans is an RBI-approved lending platform that provides affordable and convenient financial solutions to individuals who have limited access to formal credit.
- Shubh Loans offers various types of loans, such as personal loans, business loans, and education loans, to borrowers who do not have a credit history or have a low credit score.
- No Credit Score Required: Shubh Loans offers loans to individuals who do not have a credit history or have a low credit score.
- Affordable Interest Rates: Shubh Loans offers loans at affordable interest rates, which makes it an attractive option for borrowers.
- Quick Disbursal: Shubh Loans provides quick disbursal of loans, and borrowers can receive the loan amount within 48 hours of the loan application submission.
- Flexible Repayment Options: Shubh Loans offers flexible repayment options ranging from 3 months to 24 months, which allows borrowers to choose repayment tenure according to their convenience.
- No Hidden Charges: Shubh Loans does not charge any hidden fees or charges, which makes it a transparent and trustworthy lending platform.
ZipLoan: rbi approved loan apps in India
- ZipLoan is a Delhi-based fintech startup that offers digital lending services to small and medium-sized enterprises (SMEs) across India.
- The platform provides short-term business loans of up to INR 7.5 lakhs ($10,000) to small business owners. The company has been approved by the RBI to offer loans to its customers.
- ZipLoan’s online loan application process is quick and hassle-free, requiring only basic documentation.
- The platform uses advanced algorithms and data analytics to evaluate the creditworthiness of borrowers, allowing it to offer quick loan approvals and disbursals. The loan repayment period can range from 12 to 24 months, depending on the borrower’s preference.
- The platform also provides customers with a unique ‘ZipScore’ that helps them to understand their creditworthiness and improve their chances of getting approved for future loans. In addition to loans, ZipLoan offers a range of financial services such as insurance, business credit reports, and credit monitoring.
AnyTimeLoan: rbi approved loan apps in India
- AnyTimeLoan is a digital lending platform that offers personal loans to salaried individuals across India.
- The platform offers loan amounts ranging from INR 10,000 to INR 2 lakhs, with repayment tenures ranging from 3 to 24 months.
- AnyTimeLoan has been approved by the RBI to provide loans to its customers.
- AnyTimeLoan’s loan application process is entirely online, making it convenient for customers to apply for loans from the comfort of their homes.
- The platform uses advanced algorithms and machine learning to evaluate borrowers’ creditworthiness, enabling it to offer quick loan approvals and disbursals.
- AnyTimeLoan charges competitive interest rates and processing fees, making it an affordable option for those looking for personal loans.
- The platform also offers a range of value-added services, such as credit reports, credit monitoring, and financial planning tools.
ZipLoan: rbi approved loan apps in India
- ZipLoan is an RBI-approved digital lending platform that provides small business loans to micro and small enterprises (MSMEs) across India. The platform uses its proprietary underwriting model, ZipScore, to evaluate the creditworthiness of borrowers and offer loans at competitive interest rates.
- ZipLoan offers short-term business loans, working capital loans, machinery loans, and other types of business loans.
- The loan amount typically ranges from INR 50,000 to INR 10 lakh, and the loan tenure ranges from 12 to 24 months.
- ZipLoan has a fully digital loan application process that allows borrowers to apply for a loan online and receive a loan approval decision within hours.
- The platform also provides flexible repayment options, including daily, weekly, and monthly repayments, which help borrowers manage their cash flow better.
StashFin: rbi approved loan apps in India
- StashFin is a leading digital lending platform that offers quick and hassle-free loans to individuals and small businesses in India.
- It is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) and has partnered with several banks and financial institutions to provide loans at competitive rates.
- One of the unique features of StashFin is its credit scoring system, which uses advanced algorithms and data analytics to assess an individual’s creditworthiness.
- This enables StashFin to offer loans to individuals who may not have a traditional credit history or have been rejected by other lenders.
- The platform also provides instant approval and disbursement of loans, making it a popular choice among borrowers.
- StashFin also offers a mobile app that allows borrowers to apply for loans, track their loan status, and make repayments.
MobiKwik:
- MobiKwik is the best RBI-approved loan apps in India digital wallet and financial services platform that offers a range of services such as mobile recharge, bill payments, and digital payments.
- The platform also offers loans to individuals and businesses in partnership with various banks and NBFCs. The loans offered include personal loans, instant loans, and credit lines.
- One of the unique features of MobiKwik is its ‘Boost’ feature, which allows users to get an instant loan approval within seconds.
- The platform also offers flexible repayment options and competitive interest rates. MobiKwik’s loan approval process is completely digital, with no physical documents required, making it a convenient option for borrowers.
- MobiKwik also provides a mobile app that allows borrowers to apply for loans, track their loan status, and make repayments.
- The platform has a customer support team that provides assistance to borrowers in case of any queries or issues.
ftcash:
- ftcash is best RBI-approved loan apps in India and digital payments platform that offers various financial services to small businesses in India, including loans. The platform offers quick and hassle-free loans to small businesses, with loan amounts ranging from Rs. 10,000 to Rs. 2,00,000.
- One of the unique features of ftcash is its focus on providing loans to small businesses in the unorganized sector, such as small retailers and street vendors.
- The platform uses advanced algorithms and data analytics to assess the creditworthiness of these businesses and offers loans at competitive rates.
- ftcash also offers a mobile app that allows borrowers to apply for loans, track their loan status, and make repayments.
- The platform has a customer support team that provides assistance to borrowers in case of any queries or issues.
Capital float:
- Capital Float is a and best RBI-approved loan apps in India and fintech company that provides digital lending services to small and medium-sized businesses (SMBs) in India. The company is registered with the Reserve Bank of India (RBI) as a non-banking financial company (NBFC). Here are some key features of Capital Float:
- Loan amount: Capital Float offers business loans ranging from Rs. 1 lakh to Rs. 50 lakhs. The loan amount is based on the borrower’s financials and credit score.
- Interest rates: The interest rates on Capital Float loans range from 15% to 24% per annum. The rates are competitive compared to other lenders in the market.
- Repayment period: Borrowers can choose to repay their loan over a period of 3 to 36 months.
- Eligibility criteria: To be eligible for a Capital Float loan, the borrower must be a registered business with a minimum turnover of Rs. 10 lakhs per year, and have a good credit score.
- Loan disbursement: Capital Float disburses loans within 2-3 days of approval.
- Online application: Borrowers can apply for a Capital Float loan online through the company’s website or mobile app. The application process is simple and can be completed in a few minutes.
- Flexible loan products: Capital Float offers a range of loan products, including term loans, invoice financing, and line of credit. The company also offers customized loan solutions based on the specific needs of the borrower.
Lendingkart:
- Lendingkart is another best RBI-approved loan apps in India and fintech company that offers business loans to small and medium enterprises (SMEs) in India. The company is registered with the RBI as an NBFC. Here are some key features of Lendingkart:
- Loan amount: Lendingkart offers business loans ranging from Rs. 50,000 to Rs. 2 crore. The loan amount is based on the borrower’s financials and credit score.
- Interest rates: The interest rates on Lendingkart loans range from 18% to 27% per annum. The rates are competitive compared to other lenders in the market.
- Repayment period: Borrowers can choose to repay their loan over a period of 1 to 36 months.
- Eligibility criteria: To be eligible for a Lendingkart loan, the borrower must be a registered business, have a minimum turnover of Rs. 6 lakh, and have a good credit score.
- Loan disbursement: Lendingkart disburses loans within 72 hours of approval.
Pay sense– rbi approved loan apps in India
Pay sense has an app as well as a website where salaried professionals and self-employed people can apply for an instant personal loan. They offer a fast personal loan of up to 5 lakhs. It is one of the best instant loan apps in India that does not require salary slips. It is available in over 40 cities across India.
PaySense, in addition to being the best instant loan app without salary slips, provides a simple EMI calculator to calculate EMI. All you have to do after installing the cash loan app is check your eligibility and upload the required documents. They also offer other loans on their websites, such as vehicle loans and consumer loans.
CASHe– rbi approved loan apps in India
Raman Kumar founded the company in 2016. CASHe is another best instant loan app without salary slips and one of the easiest ways to make a loan. All you have to do is download the CASHe app to your phone and upload the required documents. The loan amount is credited to your account within minutes of approval. You can also direct deposit a portion of your loan amount into your Paytm account. CASHe’s USPs include intriguing features such as loyalty offers and loan insurance. To obtain a loan from CASHe, you do not need a CIBIL score or a credit history.
Mpockket– rbi approved loan apps in India
mPokket is one of the best instant loan apps in India, catering to both college students and salaried individuals. mPokket offers instant personal loans to college students and recent graduates and operates on the concept of pocket money, making it the best instant loan app in India that does not require salary slips. On this platform, the interest rate is 3.5%, and the initial amount approved is Rs. 500.
It is also the best instant loan app in India, as students can repay loans in as little as one to three months. Salaried employees can borrow up to Rs 30,000 in short-term loans. The students require only the most basic documentation. For paperwork, salaried employees only need to provide proof of employment and salary credits.
Users of this instant small loan app can begin by borrowing small amounts, and the borrowing limit will gradually increase based on their usage. mPokket is an RBI-registered non-banking finance company.
Money View– rbi approved loan apps in India
Money View is well-known for its credit rating model, which makes it one of the best unemployment loan apps in India. The company’s headquarters are in Bengaluru, Karnataka. Money View is the best loan app in India because it tracks and organizes expenses, bills, and account balances, as well as allows customers to set and adhere to budgets and view their bank account balances, among other things. It is also one of the best online loan apps, with loans of up to Rs 5,00,000 available within 24 hours. It is suitable for taking out loans such as student loans, personal loans, and home loans, and it has an interface that allows customers to do so quickly.
It is said to be the top internet loan app because it offers unique services such as bill reminders, checking bank account balances, bill payment reminders, and so on. It is preferable to have a CIBIL score of 600 or an Experian score of 650.
India Lends– rbi approved loan apps in India
India Lends is yet another well-known instant cash loan app and one of India’s leading lending platforms. So far, the platform has partnered with over 50 personal loan lenders and credit card companies. It is also the best instant loan app without salary slips, with over a million customers served in over 400 cities. It is one of the top 10 instant loan apps in India because, in addition to instant loans, it also offers gold loans with some offers.
India Lends is also good at providing credit cards to its users, as it offers over 40 different schemes and cards. The best part about this instant loan app is that it provides instant personal loans online at the lowest possible interest rate and disburses the loan in less than 48 hours. It has a monthly interest rate of 0.9% to 3% and a maximum loan amount of Rs. 50,00,000. It is preferable to have a good credit score and credit history. India Lends provides personalized loan options as well as some pre-approved loan offers.
Pay me India– rbi approved loan apps in India
Mahesh Shukla and Sandeep Singh founded PayMe India in 2015. PayMe India is one of the best instant loan apps in India because it offers a wide range of benefits. This Fintech Company provides salaried employees with short-term financial assistance to meet urgent financial needs. In comparison to other loan apps in India, this platform offers a wide range of loan options for all processes and has integrated both traditional and modern lending techniques to reach a diverse range of customers. You can register on the platform using this instant cash loan app by simply uploading the required documents.
IDFC First– rbi approved loan apps in India
IDFC First Bank was established in 2015. When it comes to Instant personal loans, another popular and trusted option is IDFC First, formerly known as Capital First. IDFC First provides personal loans beginning at Rs 20,000. The maximum loan amount for salaried individuals is Rs 40 lakhs and Rs 9 lakhs for self-employed individuals. Annual interest rates begin at 10.49%. A balance transfer option is also available, allowing users to move their loans from one bank to another. One disadvantage is that, unlike many of the other apps on this list, IDFC First may require a good CIBIL score before approving your loan. IDFC First Platform also ensures quick transactions.
Home Credit– rbi approved loan apps in India
Home Credit is among India’s oldest loan apps and is currently ranked among the top online loan apps and personal loan apps. This cash loan app, which is part of the International Home Credit Group, has a presence in over ten Asian and European countries. It is present in over 20 Indian states and 150 cities. It offers a loan amount of up to Rs. 5 lakhs and allows you to repay it in easy EMIs over a 6-36-month period. Home Credit’s USPs include the ability to pay online or offline with simple options, instant approval, no credit history required, and no hidden fees.
Money Tap– rbi approved loan apps in India
Money Tap is yet another best instant loan app without salary slips that are carving out its niche in lending money. MoneyTap has a unique feature called “no usage no money,” which helps it catch people’s attention and distinguish itself from the other instant loan apps. This simply means that you are only charged interest on the amount of money you use.
All you need to do is download the online loan app and upload the required documents. Once approved, you will be given a credit line that you can use as you see fit. Money Tap has partnered with leading NBFCs in India, making this one of the most trusted instant loan apps in India.
Dhani– rbi approved loan apps in India
Dhani began as a drug store and then expanded into its money-lending services. You can apply for a loan with Dhani at any time for any reason. Simply download the app and enter your pan number, Aadhar number, and address for verification. Once Aadhar and address are verified, it is an instant cash loan in 1 hour with no documents.
The loan balance is disbursed to the bank account within minutes of approval. Once the eligibility criteria are met, the loan amount is said to reach the borrower’s account in just 3 minutes. The loan amount ranges from Rs. 1000 to Rs. 15,000,000. The loan term ranges from 3 to 24 months.
Buddy Loan– rbi approved loan apps in India
The Buddy Loan app is a direct lender, not a broker. As a result, those who obtain a loan through its platform will not have to pay any hidden brokerage fees. This app also has 4.4 and 4.8 positive ratings on the Play store and the Apple store, respectively. It enables users to obtain a loan in the desired amount at an affordable EMI. This loan app has a low-interest rate, making it suitable for most people looking for low-cost loans.
FlexSalary – rbi approved loan apps in India
FlexSalary is an instant loan offering from Vivifi India Finance Private Limited, a non-banking finance company (NBFC) registered with the Reserve Bank of India (RBI)*
FlexSalary App offers an instant loan against salary anytime with a flexible loan tenure ranging from 10 to 36 months (about 3 years). It’s a fast flexible personal loan with no fixed EMI. You can repay your loan in flexible EMIs, it requires no collateral and has no prepayment charges. The credit limit starts from Rs. 4,000 to Rs. 2,00,000. Furthermore, credit approval can be as fast as 15 minutes.
Navi app– rbi approved loan apps in India
The Navi Loan app is a personal loan software that claims to assist users to get the money they require in a matter of minutes. However, some users have expressed doubts about the app’s legitimacy. In this article, we’ll look at the Navi Loan app in detail to see if it’s worth your time.
Navi Loan advertises itself as a simple and convenient way to obtain a personal loan. The app claims that you can get up to 20 lakh in just a few clicks and that the entire process takes only a few minutes. You only need to download the app and fill out an application.
Lazypay– rbi approved loan apps in India
LazyPay is a PayU power mobile application that provides instant credit after completing a few online steps. Based on their credit score and history, each user has a different credit limit. You can check the unique limit by logging in with your phone number.
LazyPay operates entirely online, allowing for quick and easy processing. Every month, they have disbursed over one million loans. The application is appealing because of its convenience, low EMI, and other features. Above all, their 100% paperless documentation is the USP that makes it an excellent choice for your emergency funds (if required).
Nira loan app– rbi approved loan apps in India
Nira loan application is a personal finance platform that is NBFC registered and safe to use. The Nira loan app is regarded as one of the best loan apps in India.
If you are in desperate need of money and require online financial assistance, you can always use the Nira loan application to apply for a quick personal loan. Nira loan app is a reliable loan app that can be used in an emergency.
The Nira loan application has over one million downloads on Google Play and a four-star rating. Whenever you need money, simply download the Nira loan app and apply online for a quick personal loan.
Kreditbee– rbi approved loan apps in India
KreditBee is an Instant Personal Loan platform that provides loans ranging from Rs. 1000 to Rs. 1 lakh to young professionals based on their needs. KreditBee is among the first choices of young professionals when it comes to quick and convenient Personal Loans. Borrowers who have never taken out a loan before or do not have a credit card can still apply for loans through KreditBee.
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FAQs- RBI Approved loan apps in India
Which loan apps are approved by rbi?
All the above-mentioned apps are approved by RBO. Apart from these, there are apps such as smartcoin, Rupee app, Mobikwik, Paytm Personal loan, true caller etc.
Which loan apps are legal in India?
All the loan apps which are approved by the RBI are legal in India.
Is Nira app approved by RBI?
Yes, it is.
Is Rufulo app RBI registedred?
Yes.
Conclusion
In a time, where people are searching over the internet, the top 15 rbi approved loan apps in India. Because one can’t go to the bank all of a sudden, here we are with you the new article on the Top 15 rbi approved loan apps in India.
