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9 Best Instant Loan Apps 2020, How to Get Instant loan

Getting a personal loan has never been easier and offers loans in a few minutes with multiple instant loan apps providing instantly approved loans to customers. With the number of apps available in the market, it’s hard to choose what fits your needs. Instant Loan App provides instant approval of personal loans and helps customers secure loans almost instantly.

Using the Instant Loan App, you can apply for a personal loan or check your loan status. The interface in most Instant Loan App will be easy to use which will help customers apply for loans without any hassle. An instant loan app also cuts the required time and paperwork involved in the approval process. We’ve compiled a list of best instant loan apps in a particular order that helps you get personal loans. This list will help you choose an instant loan app that requires affordable for most of the minimum approval time as well.

You should keep in mind that its approval time is different from the disbursement time. Your application can be approved within minutes but it may take some time to credit the money to your bank account. Since the process is online, you don’t need to physically send hard copy documents for all loan approval process.

Using instant loan apps, you can upload the necessary documents required for a personal loan. You can also track your due date for EMI so that you don’t miss or delay the payment of EMIs. Using instant loan apps, you can have full control over your personal loan. Thus instant loan apps help to implement and manage personal loans using just one smartphone app.

So let’s learn how to take a loan instantly from this “Instant Loan apps- mobile” post.

It provides full control to the customer to manage their loans effectively.

Best instant loan apps in India – 2020

These are the top instant loan apps that you can opt to secure instant personal loans in India.


There is immediate approval within a minute that makes Credi one of the fastest loan approval instant loan apps currently available in the market. Credi also boasts a quick disbursement of the loan within 48 hours in the customer’s bank account. Using the Credi App you can send loan applications in a few simple steps and get approval within a minute if you are eligible. You can check your eligibility on the Friend App and ensure that your application meets the basic criteria.

Benefits and Features of Credy App

  • You can borrow up to 1 million instantly using the app.
  • Apply online for an instant loan in 5 minutes
  • Salary verification is done directly on the App using your bank statement that needs to be submitted to the App.
  • Get a real-time decision of the loan terms.
  • Digital signature agreement on the app.
  • Cash distribution directly to your bank account.
  • Easy from the app can be returned in equal monthly installments.
  • Pay on time, get a top-up loan, and improve your credit score.
  • Credit has the best customer support.
  • You can earn additional profit in the form of referral bonuses.
  • No hidden charges.
  • Flexible interest rates and loan tenure.

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MoneyTap is currently one of the popular instant loan apps available in India. You can take a loan ranging from three thousand rupees to five lakh. The process is completely paperless and you can transfer the required amount directly to your bank immediately. Using the App with the fastest way to secure a personal loan from MoneyTap.

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Features and benefits of MoneyTap App

  • 100% paperless process with the online sanction of the loan without bank travel.
  • Pay interest only for the borrowed amount and not for the entire amount.
  • Tenure of flexible EMI ranging from 2 to 36 months.
  • Collateral Free Loan.
  • Get emergency cash online instantly.
  • You can get approved for a personal loan within 4 minutes using the App.
  • You can choose any amount from the pre-approved loan amount based on your salary and credit score.
  • MoneyTap App has acquired APIs and interfaces to protect your sensitive documents.
  • You also get additional benefits like getting 0% interest rate EMI for purchases on Amazon.in for 3 months.
  • You also get a variable interest rate for the loan amount.
9 Best Instant Loan Apps 2020, How to Get Instant loan
9 Best Instant Loan Apps 2020, How to Get Instant loan


This app is targeted towards young professionals with a stable monthly salary and needs quick cash without any collateral. You can take up to 2 lakh as personal loan form KreditBee can transfer directly to your bank account. There are three types of loans provided by KreditBee, including Flexi personal loans, personal loans for salaried people, and online purchase loans.

Features and Benefits of KreditBee App

  • A paperless online loan approval process.
  • The minimum document requires the approval of the loan application.
  • Transfer the fund to your bank account immediately.
  • Get additional benefits and high loan amounts to repay on time of EMI.
  • Choose a flexible tenure ranging from 62 days to 15 months.
  • Flexible interest rates range from 0% to 2.49% per month.
  • You can get Flexi personal loan from 1000 to Rs 50000 approved in 10 minutes with just your PAN card and KYC details for a period of 62 days to 6 months.
  • The app is secure with 128 bit SSL encryption to protect your critical data.
  • You can also use this App to make purchases on partner websites like Flipkart, Amazon, Myntra MakeMyTrip etc. who use e-vouchers from Kreditbee and later pay it in equal installments.

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Moneyview is a money management app that tracks your expenses and helps you protect personal loans up to Rs 5 lakh instantly using the App. The app can automatically read your bank SMS to help you manage your budget and keep track of your expenses. You can also avail personal loans using the same App with a flexible interest rate of 1.33% to 2.5% per month. You can also choose a flexible tenure from 3 months to 60 months.

Features and benefits of The Moneyview App

  • Deposit a personal loan of up to 5 lakh directly into your bank account within 2 business hours.
  • You can use the built-in expense tracker system to track all expenses via text messages.
  • You can set and track your budget to help manage your expenses better.
  • The app will send bill payment reminders so that you never miss the bill again.
  • You can also track the balance of third party payment apps like Paytm on FreeCharge using the App directly.
  • The loan amount ranges from 1000 rupees to 5 lakh.
  • The processing fee charged at 2.5% to 4% is nominal.
  • Moneyview App has state-of-the-art security system that your bank does not read OTP account numbers to keep information safe and secure.


Paysense provides personal loans to salaried as well as self-employed individuals. Personal loans ranging from 5000 to 5 lakh rupees are available without any bail and flexible interest rates. The application process for personal loans on the app is easy and quick. The app allows you to choose an auto-debit option for your EMI making it easier to secure a personal loan.

Features and benefits of the Paysense App

  • The loan application is designed to simplify and expedite the process.
  • PaySense offers a 2-minute loan application process.
  • The whole process is paperless and online.
  • Automatic deduction of EMIs from your bank account.
  • Choose for a tenure of 3 months to 60 months.
  • Interest rates at a cheaper rate of 13% per annum.
  • Even self-employed can apply for a personal loan with a monthly income of Rs. 15000.
  • After approval, the loan amount is credited directly to your bank account within a few days.

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CASHe uses a proprietary algorithm to determine a customer’s credit profile. This is very different from the traditional method of credit score used by most banks and lenders. They call this the Social Loan Quotient (SQL) which uses many unique data to determine the customer’s credibility. The whole process is automated and requires no physical intervention which makes it easier and quicker for credit disbursement. If you have proper documents you can expect the loan amount to be deposited in your account within 10 minutes.

Features and advantages of cashe app

  • Use your smartphone to make quick and easy steps for personal loans.
  • Upload only a few documents to get loan approval immediately.
  • You can apply for a period of 90 days from 9000 to Rs. 80000 or for a period of 90 days for a personal loan ranging from Rs. 19000 to Rs. 19000 and for 180 days from 25000 to Rs. 2 lakhs.
  • Complete the digital process to minimize the need for any physical intervention or physical documentation.
  • Fast approval process without visiting banks.
  • Cheap interest rate.
  • Flexible payment methods.
  • Flexible loan option you can choose according to your need.
  • There is a salary account targeted at young professionals looking for short term personal loans without collateral and flexible loan options.


This app is targeted towards applicants with no credit history. Any person with a monthly salary of Rs. 18000 and above can avail of a loan up to Rs. 2 lakhs from the Earlysalary. The early salary uses a proprietary method to determine the applicant’s credentials. This is called social worth (SW) score which helps in the quick disbursement of loans in emergency situations. Get the deposit in your bank account within 10 minutes subject to the appropriate document.

Features and Benefits of The EarlySalary App

  • Get an immediate loan up to Rs. 200000 within 10 minutes.
  • Only Rs. 9 per day gets an advance salary up to Rs. 2 lakhs.
  • Apply for a loan in simple steps on the app and transfer it to your bank account within 10 minutes.
  • You can use the early sale limit to shop on Amazon, Flipkart, BigBasket and pay in easy EMI at a 0% interest rate.
  • You can use the initial salary limit to plan your holiday and later pay in easy installments at a 0% interest rate for 3 EMIs and 6 EMIs at a cheaper rate.


Targeted at college students and newly planned This App This App allows users to take personal loans starting for Rs 500 without any collateral or salary account document. The Student Loan App has flexible repayment options to have approval time and better manage your credit for students. It also provides loans for recent graduation with a job offer at the time of applying for a loan.

Features and advantages of mPokket App

  • Apply for a student personal loan using your student ID card directly from the app.
  • Being the whole process online makes it easier for students to take loans for rainy days.
  • The minimum document required makes it easier for students to get a personal loan from mpocket.
  • The application is approved within 24 hours and you can receive the money deposited in your bank account or PayTM wallet as per your choice.
  • The Loan Repayment App is easy to use as you have different options like Paytm wallet, UPI or your bank account.
  • Good credit behavior will help you achieve a higher credit threshold.
  • You can provide your employment letter or offer letter for a higher approved credit limit if you have a job offer and you want to get a higher amount


LazyPay offers credit from Rs 10000 to Rs 100,000 immediately approved on the App with minimal documentation. You can also use Lazypay for shopping on websites like Amazon, Flipkart, Jomato Swiggy etc and later pay flexible EMI option.

Features and benefits of The Moneyview App

  • Check your eligibility directly on the App.
  • Apply for a personal loan in 3 easy steps.
  • Transfer the fund to your bank account and choose the auto-debit option on time for deduction of EMIs.
  • You can also avail LazyPay’s 15 days free credit benefit when shopping on popular apps without the need for any documents.
  • You can get higher credit limits by using lazypay app to repay your loan on time and shop on your favorite shopping apps.

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We hope this compiled list will help you choose the best quick loan app to get personal loans in 2020. This isn’t a complete list, so keep an eye out for future updates and new apps being added to the list

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