Business & Economy

Top 5 Personal Loan Apps in India

By A Correspondent

Mumbai, March 19, 2020

In 2020, think about getting a personal loan and you think about loan apps that have quickly become the norm. The time for queuing up at your nearest bank or a financial company and requesting them for a personal loan is behind us. These days, it is easier to procure loan: just fire open your smartphone, go to your preferred instant personal loan apps, and apply.

In most cases, including in Indiabulls Dhani, the application and disbursal can happen within minutes. This type of convenience is further popularizing the use of personal loan apps in India.

So, it is a good idea to know what the best of the lot are. Especially in today’s startup culture where financial companies are mushrooming around the country and providing such services. To make your loan journey easier, we have rounded up five of the best personal loan apps in India.

Indiabulls Dhani App for Instant Personal Loans

One of the pain points of today’s users is the often long and tedious application process that one has to go through to apply a personal loan. This is across the board – from banks and NBFCs to even personal loan apps, some of which require you to visit their physical store for verification purposes.

Same is the case with disbursal where you have to make several rounds to the bank to follow up, after which the loan is disbursed, again with some strings attached.

And that is where the Indiabulls Dhani app wins. It has a simplified application process where you can apply for a personal loan and receive the amount in your bank account instantly.

You just have to download the app, enter your personal details along with the loan amount, and you are done. If your details are valid along with the information found in the digital copies of your documents, the amount will be credited in your account immediately.

This fast and paperless approach aside, what the Dhani app also provides are:

 Competitive personal loan interest rates at 1.99% pm

 Rewards system – Dhani Points

 Online e-wallet for all types of financial transactions – Dhani Wallet

 Dani Credit Line – for all your purchases where you can shop now and pay later

All in all, the Dhani app acts as a personal finance app for you by giving everything you need in addition to instant personal loans.


Another cool personal loan app is KreditBee that is similar to Dhani but provides a smaller loan amount range. Through the app, you can apply for a loan between the range of INR 1,000 and INR 2 lakhs (compared to the upper limit of INR 3 lakhs in Dhani).

Money View

Next on the list is an app that provides up to INR 5 lakhs of personal loan. We feel it is a great improvement from the above two apps, but the downside is the high interest rate of 1.33% monthly, which goes over 15% per year. This is a bit high for the Indian middle-class market but the easy repayment options certainly make up for it.

Early Salary

This app provides personal loans to only salaried professionals, and this loan can be considered as an advance salary for your use. They provide loans starting from INR 1,000 to INR 2,00,000, however, limited to a maximum tenure of 12 months. When applying for loan, no credit history is required but the interest rates tend to rise up to 29% per annum.


The USP of GoToCash is that it does not require a guarantee or collateral (a feature available across apps) for you to procure loan. Just submit your documents and receive your qualified amount directly into the bank.

(Disclaimer: This is branded content)