Do you need quick cash but don’t want the hassle of traditional loans? Welcome to the digital age of loan apps, where small loan apps make borrowing faster, simpler, and more convenient than ever for every need. Whether it’s an emergency expense, an unexpected bill, or just a small financial gap to bridge, these apps are here to help.
But with so many options, how do you pick the right one? I’ve got you covered. Here’s a rundown of India’s seven best small loan apps, including their features, eligibility, and loan terms—so you can make an informed choice. All apps mentioned here are RBI-approved by NBFC. I use small loan apps discussed here personally to take a loan, so I can ensure you these loan apps are authentic and not some generic list.
1. MoneyView
- Loan Amount: ₹10,000 to ₹5,00,000
- Interest Rate: 1.33% – 3% per month
- Tenure: 3 – 48 months
- Why Choose MoneyView?
- Personalized flexible loan options, super-fast approvals, affordable interest rates and repayment flexibility make MoneyView one of the most user-friendly loan apps in India. With minimal paperwork and a slick app interface, borrowing has never been this simple. What are you waiting for? Get a Quick loan now.
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2. KreditBee
- Loan Amount: ₹1000 to ₹5,00,000
- Interest Rate: 1.4% – 2.5% per month
- Tenure: 3 – 36 months
- Why Choose Kreditbee?
- If you’re looking for instant approvals and digital convenience, this app delivers. From digital verification to quick disbursal, KreditBee streamlines the process so you can focus on solving your financial needs. Whether salaried, business or self-employed, this app provides loans to all personnel. This small loan app is Great for first-time borrowers, so get your loan now.
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3. TrueBalance
- Loan Amount: ₹1000 to ₹2,00,000
- Interest Rate: 2.4% – 3.5% per month
- Tenure: 2 – 18 months
- Why Choose CashBean?
- Targeting young professionals and first-time borrowers, TrueBalance is all about speed and simplicity. With no collateral required and an alternative credit scoring system, even those with limited credit history can easily access funds. For those looking to build a credit history for borrowing, this small loan app offers credit builder loans. Why wait? Get your small loan now.
4. Fibe (formerly EarlySalary)
- Loan Amount: ₹5,000 to ₹5,00,000
- Interest Rate: 1.5% – 2.8% per month
- Tenure: 3 – 36 months
- Why Choose Fibe?
- Need a salary advance or a personal loan on the go? Fibe combines tech-driven processes with flexibility, making it a solid choice for salaried professionals. Think of it as a financial safety net you can rely on, with free credit score checks and many products in partnership with 300+ Brands.
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5. Branch
- Loan Amount: ₹1,000 to ₹5,00,000
- Interest Rate: 1% – 3%
- Tenure: 2 – 12 months
- Why Choose Branch?
- With multiple loan products like flexi personal loans and online small loans, Branch is versatile and 100% digital. Their seamless process ensures you get what you need without unnecessary delays.
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6. PoonaWala Fincorp
- Loan Amount: ₹5,000 to ₹5,00,000
- Interest Rate: 1.4% – 3% per month
- Tenure: 1 – 36 months
- Why Choose Poonawala?
- PoonaWala Fincorp stands out for its pre-approved offers and extended loan tenures. With small to big loans, innovation is combined with reliability. Bonus: offered by Growmo for a quick online process. Get it now
7. FatakPay
- Loan Amount: Up to ₹20,000
- Interest Rate: Varies based on loan amount and tenure
- Tenure: 61 days – 12 months
- Why Choose FatakPay?
- If you’re a student or a young professional, FatakPay is made for you. Short tenures, fast approvals, and an easy application process make it an excellent option for quick, small loans. Bonus: you can get small loan even at low credit score
Before You Apply, Keep This in Mind:
- Compare Costs: Don’t just chase the loan amount. Check interest rates, processing fees, If it’s for you and hidden charges.
- Check Eligibility: Save time by ensuring you meet the app’s eligibility criteria before applying.
- Read the Fine Print: Understand the repayment schedule, terms, and penalties for missed payments.
- Borrow Smartly: Only take what you need and know you can repay. Debt can pile up fast—don’t let it.
By weighing your options and matching the app to your needs, you can secure funds without stress. Quick, simple, and reliable—these apps are changing how India borrows. Choose wisely!
Loan Apps in India: Your Burning Questions Answered
Okay, let’s get straight to your questions. You’ve got questions about these loan apps, and I’ve got the answers.
Faq. Section
Are these loan apps legit?
Absolutely! The apps I’ve mentioned are all RBI-approved by NBFC, meaning they’re playing by the rules. I’ve even used all of them myself, so I can personally vouch for them. But hey, it’s always a good idea to do your research and check out reviews before diving in.
Which loan app is right for me?
That depends on your Loan needs. Think about how much you want to borrow, the interest rates, when you need to pay it back, and if you even qualify. Do you need the money ASAP? Are you trying to build up your credit score? Pick the app that fits your situation best.
What do I need to apply?
You’ll usually need to be an Indian resident, at least 18 years old, and have a valid PAN card, an Aadhaar card, and a bank account. Some apps might have extra requirements like a minimum income or credit score.
How much can I borrow, and for how long?
Borrowing and length vary depending on the app and your situation. Check out the details I provided for each app to get a better idea.
What about interest rates and fees?
Again, this depends on the app, the loan amount, and how long you need to pay it back. Always read the fine print in the app’s terms and conditions to understand the interest rates, processing fees, and any other charges.
How do I pay back the loan?
Most apps let you pay back using UPI, debit cards, net banking, or e-wallets. Make sure you understand the repayment schedule and any penalties for missed payments.
What if I miss a payment?
Missing payments can lead to penalties, hurt your credit score, and even result in legal action. If you miss a payment, reach out to the app’s customer support right away.
Can I get a loan with a low credit score?
Some apps, like TrueBalance, have different ways of checking your creditworthiness and might look beyond just your credit score. But generally, a good credit score will increase your chances of getting approved and getting better loan terms.
How long does it take to get the money?
Time varies depending on the app and your situation. Some apps offer instant disbursal, while others might take a few hours or days. However, this is rare in the apps mentioned.
Anything else I should know?
Before you apply, compare costs, check if you’re eligible, read the fine print, and, most importantly, borrow responsibly. Only borrow what you need and can comfortably repay.
Remember: These apps are super convenient, but use them wisely to avoid getting into debt you can’t handle.
