Sometimes, during emergencies, you cannot approach an NBFC or a bank for a short-term personal loan every time. This could be for various reasons such as not having a good credit score, not having a stable or good monthly income, and so on. Also, banks usually disburse the loan amount in 6 to 7 working days. This is where instant personal loan apps come into the picture. There are applications in the market which are willing to offer loans in the quickest time possible without any lengthy documentation formalities. Thus, this is a perfect opportunity for a person who needs cash immediately and cannot approach a bank or NBFC for the same. So, if you are looking for a short term personal loan and do not know which app to use, then reading this article will help you know about some of the best instant personal loan apps so you can compare them and choose the one that is best for you. 

EarlySalary Personal Loan

The features of the EarlySalary Instant personal loan are as follows:

  • EarlySalary may provide you a personal loan of up to Rs. 5,00,000 directly from your smartphone if you meet the eligibility criteria.
  • The age of the applicant should be in the range of 21 to 55 years.
  • The applicant should have a salary of INR 18,000 at least if in metro cities and INR 15,000 if  in non-metro cities.
  • The applicant should be an Indian citizen. 
  • The person should have all the required KYC documents. 

The step by step process for EarlySalary is as follows:

  • Download the EarlySalary mobile app
  • Verify your mobile number. 
  • Submit basic documents and information. 
  • Choose the loan amount after your profile has been authorized.  
  • The funds are put into your bank account.

PaySense Personal Loan

This is one of the best personal loan apps without salary slips, and it has recently merged with LazyPay to become one of the best platforms in this field.

Some of the main features of the PaySense Instant Personal loan app are: 

  • Get instant personal loans from Rs. 5000 to Rs 5 lakhs to suit all your needs and dreams.
  • Interest rates are low and are in the range of 1.08 to 2.33 percent 
  • No collateral is required
  • No credit score is required. 
  • Easy documentation.
  • Quick approvals and disbursals. 
  • You can get prompt loan approval and money in your account 
  • You can upload pictures of your KYC documents and sign your loan application digitally. 
  • Documentation required: the proof of identity (Aadhaar card/PAN card), proof of address (Aadhaar card, utility bills, or rental agreement), proof of income (bank account statement), and a photograph. 
  • Flexible end user. 

The step by step process for PaySense is:

  • Download the PaySense app on your smartphone.
  • Get your loan approved instantly
  • Submit KYC documents and choose your EMI.  
  • E-sign your application post uploading your documents
  • The money will be disbursed to your account in less than 5 hours.

CASHe Personal Loan

CASHe is a fintech product from Aeries Financial Technologies Private Limited. It gives short-term personal loans to young salaried professionals. The decision to give a loan is powered by the social loan quotient (SLQ), an unique forecasting algorithm that produces a detailed credit profile of customers that is not available to regular banks and credit agencies. 

Step by Step Process for CASHe Instant Personal Loan

  • Download the app and subscribe using any of the existing social media accounts, such as  Facebook, LinkedIn, or Google accounts.
  • Upload a few simple documents.
  • You will be notified about your eligibility within 2 hours.
  • If eligible, just log in and choose an amount. 
  • The money will be deposited into your bank account instantly. 

MoneyTap Personal Loan

MoneyTap is India’s first instant loan app that provides full time salaried professionals and self-employed professionals with immediate funds. 

The following are the key eligibility criteria if you opt for a MoneyTap Instant personal loan:

  • You should either be a salaried employee or a self-employed professional like a lawyer, doctor, or businessman. 
  • Your minimum monthly income should at least be Rs. 30,000. 
  • Your age should be minimum 23 years and maximum 55 years.
  • Salaried individuals should have been in their current employment for at least 6 months (at the time of submitting the application)
  • The overall work experience should be at least 2 years. 
  • Self-employed individuals must have been in business for a minimum of 3 years and should have an overall work experience of at least 3 years. 

Dhani Personal Loan App

Dhani is the first of its kind of personal loan apps from Dhani loans and services limited. It was earlier known as Indiabulls Consumer Finance Limited. It was designed to make personal financial requirements easier than before. 

The eligibility criteria for Dhani personal instant loans are:

  • The individual should be 21 years old at least. 
  • The applicant should be an Indian citizen. 
  • The person can either be salaried or self-employed. 
  • The applicant should have an Aadhaar card number for KYC and rapid money transfer. 
  • The person should link their bank account to allow Dhani to automatically deduct the monthly EMIs through net banking/debit card. 

The process to apply for an instant personal loan at Dhani are:

  • Download their application
  • Register your mobile number by verifying the OTP
  • Enter the loan amount
  • Provide some basic information, such as your PAN number, type of employment - salaried or self-employed, mode of salary, and address proof. 
  • Once your details are verified, you will get the requested amount in your bank account within minutes.

Freecharge Personal Loan

Freecharge is one of the most popular personal loan apps in India. It offers pre-qualified instant personal loans to its users. A pre-qualified loan is one that requires minimal paperwork  with instant application processing and best interest rates. All the loans provided by Freecharge are actually disbursed by Axis Bank, but it is not necessary that you should have an account in Axis Bank to avail the loan.  

The Process to apply for a loan at Freecharge is as follows: 

  • Download the freecharge application 
  • Validate yourself using the OTP and instant KYC
  • Select your loan amount and duration 
  • Set up your monthly installment
  • E-sign your loan agreement
  • The money will get credited to your bank account.


There are various advantages when applying for a loan through any of these best instant personal loan apps in India 2022. These are transparency in process, immediate loan approval, early possible disbursal, flexible loan or EMI plans, and no security or collateral. 

FAQS of Best Instant Personal Loan Apps in India

1:Is MoneyTap approved by the RBI? 

  MoneyTap follows the strict norms and guidelines set by the RBI. Any offering and feature of MoneyTap is in accordance with RBI rules.

2: How can I obtain a loan from the Dhani app? 

  To avail loans through Dhani, you have to submit the Aadhaar and the address proof as identity verification. If you are found to be eligible, the loan will be approved and disbursed to your account in just 3 minutes.  

3: What is the KreditBee instant personal loan app? 

     KreditBee is an instant personal loan app for young salaried professionals. You can get a loan of up to Rs 1 Lakh. The loan process is 100% online, and the disbursement is done within 15 minutes. The amount is disbursed directly to your bank account.