Top 5 Personal Loan Apps to get you the money you need

Money lenders charge high interest rates when you try to get a loan, which makes the situation more tedious and traditional banks take a long time to process them with several documentation and securities. So, when this is the case, personal loan apps have emerged as an excellent saviour to provide instant cash loans within few minutes if not hours. There are 100’s of apps out there that offer Personal loan, be vary before applying, since there is a possibility of you being scammed. Irrespective of the platform you choose, always remember to apply for loans with caution and take out the loan amount that you can afford to repay.  Let’s check out some of the best available apps out there in the market.

Top 5 Personal Loan Apps :

  1. NAVI
  2. Moneyview
  3. Paytm
  4. Lazypay
  5. Bajaj Finserv


navi personal loan

NAVI is a Super-fast loan disbursal app with minimal online documentation involved. Download the app, enter your personal details, and get your KYC done and they might ask you to upload your bank statement as well, and that’s it. You will immediately know if you are eligible to take a loan or not. Even if your profile does not match their requirement, you can re-apply for the loan after 30 days of your first application. They also offer zero processing fee.

Eligibility: A credit score of 650+ will help you get instant loan disbursal. Lower credit score either leads to rejection or a loan approval with a higher interest rate. You can be either salaried or self-employed with a minimum income of 3 Lakh per annum. 

Loan amount: Up to 20,00,000 (20 Lakh Rupees)

EMI tenure: up to 72 months (up to 6 years)

Interest rate: Starting from 9.9% Per Annum

Foreclosure charges: No Charges (Nil)

Late fee charges: 2% per month

Applicant age: 21 – 65 Years


money view

Money View provides instant hassle-free loans for all your needs. A quick call and KYC submissions and you can get a loan amount up to 5 Lakh rupees.

They don’t have any foreclosure charges but there is a limit on the minimum EMI’s to be paid first to close the loan.

Eligibility: A salaried or self-employed person with a minimum income of 13500 in-hand. CIBIL score of 600+ and Experian score of 650+ is a must.

Loan amount: Up to 5,00,000 (5 Lakh Rupees)

EMI tenure: 3 months – 60 months (up to 5 Years)

Interest rate: starting from 16% Per Annum

Foreclosure charges: No Charges (Nil)

Late fee charges: 2%

Processing fee: 2%

Applicant age: 21 – 57 Years


paytm personal loan

Paytm avails loans to customers who are active users of the platform. You can check your eligibility by searching “personal loan” on Paytm app and you can proceed further. 

Eligibility: currently the only criteria they mention for the eligibility is to be in the mentioned age group.

Loan amount: 10,000 – 3,00,000 (3 Lakh Rupees)

EMI tenure: up to 60 months (5 years)

Interest rate: Approx, 20% per Annum

Applicant age: 23 – 60 Years



Lazypay has something called Xpress Dash. An instant personal loan offer by Lazypay. Approval takes around 5 minutes with minimal documentation and the loan gets disbursed instantly.

Eligibility: The eligibility depends on the tenure and history of the applicant with the app. If you are eligible, you will see and option for Xpress cash on the home page of the app.

Loan amount: 3000 – 5,00,000 (up to 5 Lakh Rupees)

EMI tenure: 3 – 60 Months (up to 5 Years)

Interest rate: 12 – 36%

Processing fee: 6% + GST

Foreclosure charges: 4% + GST


bajaj personal loan

Bajaj finance offers 3 different types of personal loan, and they are:

  1. Flexi Term loan
  2. Flexi Hybrid Loan
  3. Term loan

Each of these have their own pros and cons, when you apply for the loan of your choice, you will receive a call from their sales team, and they will explain you the procedures and you can choose the one best suitable for you.

Eligibility: You should have a minimum CIBIL of 685 or higher. Employed in a public, private or an MNC with a minimum salary of 25,001 rupees. You will need to provide your Government ID, Employee ID, salary slip and bank statement of 3 months to proceed further in the loan process.

Loan amount: up to 40,00,000 (40 Lakh Rupees)

EMI tenure: 6 – 96 months (up to 8 years)

Interest rate: 11 – 35% Per Annum

Foreclosure charges: depends on the type of loan.

Late fee charges: 3.5% Per Month (of the monthly EMI)

Applicant age: 21 – 80 Years

Read on How to spot Personal loan Scam!?


So, to wrap it up, here are the 5 apps that you can use to apply for personal loan. You can download all the apps from Play store. It’s mandatory for the applicant to be an Indian citizen to apply for the loan. Only take the amount that you are capable of paying back, so that you can maintain a healthy credit score which will help you get better offers and support from banks and other financial institutions. Stay safe.  

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