Top 5 Personal Loan Apps in India as Per App Stores


12 Nov 2020 | 5 min read

The rise in the demand for personal loan in India is going up with a superfast velocity. Alongside, the rapid technological advance in the financial world.

Since the total number of digital users is expected to reach around 1 billion by 2025 in India, majority of the lenders have observed the market and already have come on the digital platform for providing their products and services to customers.

But, consequently, it becomes tough for users also to opt for the best personal loan app among plenty of moneylenders with regards to their need for funds.

Keeping that in view, we performed an exclusive research for you; we came up with a report of the top moneylenders who stand out to be reliable, handy and of course best for availing personal loan in 2020 and further year over year.

Since Google Play Store and Apple Store are leading the app store industry, millennials find out most of the apps over there (regardless of any need), we have brought up top 5 personal loan lenders in India according to them. Without wasting your precious time, let’s have a look below:

1. MoneyTap

MoneyTap was founded back in the year 2015. It is popular for its exclusive feature called “no-usage-no-interest,” which also makes it stand out from the rest of the personal loan apps in the market. This simply implies that you have to pay the interest charge only if the amount of money is used by you.

All you are required to do is download the app, fill in all the required details and submit the required documents. After the approval, you are extended a credit line, which you can utilize as per your requirements.

The app has recently collaborated with various leading NBFCs in India, and the company currently caters in NCR, Hyderabad, Bangalore, Mumbai, and other major cities across India. Moreover, you are required to show a minimum monthly income of Rs. 20,000 in order to apply for a personal loan.

Additionally, the app extends the moneytap personal loan amount ranging from Rs. 3,000 to Rs. 5 lakhs. MoneyTap has been downloaded over 1 crore times from the Google Play Store.

2. LazyPay

LazyPay offers personal loans up to Rs. 1 lakh and gives borrowers the option of flexible tenor ranging from 3 months to 2 years.

Lazypay is also a reliable payment alternative on many leading websites, in particular, Zomato Swiggy, Flipkart, Amazon, etc. You can also get the no-cost instalment alternative of LazyPay to shop on these portals and pay later with the help of affordable EMI options and flexible terms.

The loan approval takes place in 3 simple steps at LazyPay. Besides this, if you pay off your fund obligations on time and keep utilizing LazyPay, your credit limit will be maximized automatically which enables you to avail a higher loan amount or shop for a higher amount using the LazyPay credit.

One of the unique features of LazyPay is that it offers interest-free shopping through popular websites which can afterwards be paid off in easy EMIs. The app prioritizes its customers undoubtedly since it offers an auto-debit alternative for borrower’s EMI to make sure of timely prepayment to help him/her maximize his/her credit reliability which in turn can make him eligible for higher credit limits.

Post loan approval, the borrower gets immediate access to his/her credit limit which s/he can utilize for multiple objectives in accordance with his/her need.

The app is available on both the leading app stores across the globe – Google Play Store and Apple Store.

3. CASHe

One of the popular and best personal loan apps in India; CASHe uses a wholly distinct way to determine the creditworthiness of a customer. Unlike other moneylenders, CASHe has its Social loan quotient (SLQ).

SLQ facilitates the moneylender to figure out the customers in further better ways and offer them the best personal loan offers. CASHe takes the help of a wholly automated system that reduces manual interaction and expedites the loan approval process.

At present, anyone who has a monthly income of Rs. 15,000 and above can easily apply for a personal loan from CASHe app. The loan amount CASHe offers personal loan ranges from Rs. 9,000 to Rs. 3,00,000. Alongside, the borrower also gets the flexible repayment tenure option.

The appealing factor of the loan app is also its fast disbursal process. The entire process is automated, the loan amount gets credited into the bank account within 10 minutes from sending the application via the personal loan app.

The app is already trusted by millions. The number of downloads of the personal loan app exceeds 1 million on the google play store.

4. EarlySalary

EarlySalary offers personal loans to people who do not possess a past credit history or are first-time borrowers. The app uses Socialworth Score to determine the repayment capability of a customer and provide him/her with the best personal loan offers. You can avail an instant loan up to Rs. 2 lakhs which directly gets disbursed into your bank account within 10 minutes post approval.

In order to avail loan from the app, one should have a minimum monthly salary of Rs. 18,000 in metro cities and Rs. 15,000 in other cities.

The loan app is quite popular among employed individuals and has been downloaded over 5 million times.


The loan app is available on both the leading app stores – Apple Store and Google Play Store. Significantly, the app has been downloaded over 5 million times from Google Play Store.

MyFIRST loans is the loan app by IDFC FIRST Bank. The loan app provides personal loans with features such as loan amount ranging from Rs. 20,000 to Rs. 40 lakhs, flexible loan tenor option from 1 year to 5 years, interest rate ranging from 12% to 24%, etc. In addition, processing charges are levied by the moneylender is around 3%.

If you are an Indian citizen, above 23 years and reside in a serviceable location, you can definitely apply for the instant personal loan from the app.


There are numerous personal loan apps across the Google Play Store and Apple Store but keeping in mind the borrower’s convenience, availability of the loan app across both the leading app stores and several other factors, we presented the above list of top 5 loan apps in India.

Afinoz is also among the leading and constantly fastest emerging loan apps in India. The app is going to be launched on Apple Store too. Meanwhile, if you are lacking funds to meet any of your needs, you may download the Afinoz instant personal loan app through Google Play Store and apply now!

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