Need Money Urgently? These Instant Loan Apps in India Deliver Fast
Medical bill lands on your table. Car breaks down. Wedding invite shows up with a week's notice. Life doesn't wait for your next payday.
Traditional banks? They'll ask for 15 documents, make you visit the branch twice, and still take a week to decide. By then, the moment's passed.
That's where instant loan apps come in. Apply on your phone, get approved in minutes, and see money in your account the same day. No paperwork, no branch visits, no waiting around.
But with dozens of apps out there—some legit, some sketchy—how do you know which ones to trust? Here are the best loan apps in India that deliver what they promise.
Best Loan Apps in India with Quick Disbursal
1. Navi – Zero Processing Fee
Founded by Flipkart co-founder Sachin Bansal, Navi operates through Navi Finserv Private Limited, an RBI-registered NBFC.
The biggest advantage? Zero processing fee on personal loans—something most lenders charge a percentage for. They also don't charge foreclosure fees if you want to close your loan early.
Key features:
● No processing fee
● No foreclosure charges
● Competitive interest rates
● Fully digital, paperless process
2. KreditBee – Quick Disbursal for Urgent Needs
KreditBee partners with RBI-registered NBFCs to offer instant personal loans. Their standout feature is speed—loans get disbursed within minutes of approval.
The app works for both salaried and self-employed individuals, and even those with limited credit history can apply. The entire process from registration to disbursal happens through the app.
Key features:
● Fast approval and disbursal
● Works for low or no credit history
● Flexible repayment options
● 100% digital process
3. Finnable – Simple Process, First-Timer Friendly
Finnable is an RBI-licensed NBFC that focuses on making personal loans accessible, especially for first-time borrowers.
The entire process is digital—apply from anywhere, upload documents, and receive funds in your bank account. They use reducing balance interest calculation, which means you pay less over time compared to flat-rate loans.
4. MoneyView – Wide Coverage Across India
MoneyView is operated by Whizdm Innovations Pvt. Ltd. (RBI-licensed) and is ISO 27001:2022 certified for data security. The app covers thousands of cities across India, including smaller towns.
They partner with multiple banks and NBFCs including Aditya Birla Capital, SMFG India Credit, and Cholamandalam Finance—giving borrowers access to multiple offers.
Key features:
● Available in tier 2 and tier 3 cities
● Multiple lending partners
● Free credit score check
● No foreclosure charges
5. Bajaj Finserv – Established Brand, Higher Limits
Bajaj Finance is one of India's largest NBFCs with decades of track record. If you need a larger loan amount and prefer dealing with an established financial brand, this is a solid choice.
They offer both regular term loans and Flexi loans (where you withdraw as needed and pay interest only on the amount used).
Key features:
● Higher loan limits available
● Pre-approved offers for existing customers
● Flexi loan option (pay interest only on amount used)
● Wide physical presence across India
What Should You Actually Look for in a Loan App?
Ignore the flashy ads. "Get 5 lakhs in 5 minutes!" Read the fine print first.
The apps worth your time aren't just quick. They're honest. Big difference.
● Check for RBI Licensing First - First thing? Check if they're RBI-licensed. If they're not, delete the app. I'm serious. Unlicensed lenders can make your life hell.
● Transparent Interest Rates - Interest rates should be out in the open. No nasty surprises when you're halfway through paying back. Somewhere between 16% and 30.99% per year is normal. Depends on your profile.
● Reasonable Processing Fees - Processing fees? Decent apps keep it around 5% max. Anyone asking for more is probably up to something.
● Speed That Actually Delivers - Speed matters when you're desperate for cash.
Something to remember: Before you download anything, look for three things. RBI license on their website. Clear fee structure. Real reviews from actual users on the Play Store.
Before you commit: Run your numbers through an EMI calculator. Your monthly payment shouldn't eat more than 40% of what you make after essentials.
Disclaimer: This article is published in association with Finnable and not created by TNM Editorial.