Instant Loan Apps in India: I Tested Disbursement Speed, Fees & CIBIL Impact

If you need financial relief for longer tenures, well, let me introduce you to KreditBee. The app is RBI-registered and has one of the largest networks of partnerships in place.

For instance, PayU Finance India Pvt. Ltd., Oxyzo Financial Services Ltd., Vivriti Capital Pvt. Ltd., Tata Capital Ltd., Northern Arc Capital Ltd., Piramal Finance Ltd. (Formerly Piramal Capital & Housing Finance Ltd.), and more well-known NBFCs. 

Other perks of KreditBee can be its lower APR starting at just 17%. But the highest APR can reach 50%, which again, depends on your eligibility and creditworthiness. As for the interest rates, compared to all other instant money loan apps operating in India, KreditBee has some of the best offers. 

With a healthy credit history and a promising ability to repay, you might be able to secure a loan at just 12% per annum. Even its max interest rate, which is 28.5% per annum, remains lower than tons of its alternatives. You can take a loan from here for a tenure of 6 to 48 months.

Beyond being a great tool for instant personal loans, other loan categories available on the app are:

• Business Loans for a tenure of 6 to 48 months for an amount of up to ₹5,00,000.
• Two-wheeler loans for a tenure of 60 months for an amount of up to ₹5,00,000.
• Loan Against Property for a loan up to one crore rupees for up to 20 years at 12% per annum (only limited to South Indian major cities).

You can also invest in KreditBee 24K Gold using an auto investment plan that lets you start with just ₹10. Then there’s an NPCI-approved UPI feature for smooth payments. Honestly, I feel KreditBee is quite useful as an instant personal loan and can be a great alternative to other payment apps for wider financial needs.

To summarize, as a long-tenure option, KreditBee sits among the instant money loan apps that also offer business and two-wheeler loans.

Some other charges you should be aware of:

1. Foreclosure Charges: 4% of the principal outstanding + GST

2. Part-Prepayment Charges: 4% of the principal prepaid + GST

3. Penal Charges:

• EMI bounce (Day 1): 4% of the principal overdue or ₹500, whichever is lower
• Delay (2–180 days): 36% p.a. on the principal overdue

4. Credit Information Report Fees: ₹50 + GST (optional, disclosed in the Key Fact Statement)

5. Cool-Off Fees: A portion of the one-time processing fee may be retained if the loan is closed during the cooling-off period (amount disclosed in KFS)

6. Stamp Duty: Applied as per actuals based on disbursement location (disclosed in KFS)

7. Maintenance & Procurement Cost: May apply depending on the disbursement office (disclosed in KFS)

Now, let’s answer the most important question: Does KreditBee check CIBIL score? Yes — each time you formally apply, a hard inquiry is made, which will also reflect on your CIBIL reports.

Also Read: Planning to invest some bucks? Here’s a list of top investment apps

If you’ve ever wished for a financial tool that’s less like a traditional loan and more like a flexible tab for your online and offline spending, then LazyPay is the name you need to know. Backed by its RBI-approved NBFC partner, PayU Finance India Private Limited, LazyPay started as a pioneer in the Buy Now, Pay Later (BNPL) space and has since evolved into a more comprehensive credit provider.

Its core offering is the LazyPay credit limit, which can go up to ₹1,00,000. This isn't a loan you apply for; it's a revolving credit line you can use at thousands of partner merchants like Zomato, Swiggy, and MakeMyTrip.

But what if you need actual cash? That’s where LazyPay Xpress Cash comes in. Eligible users can get instant personal loans from ₹10,000 up to ₹5,00,000 disbursed directly to their bank account. With flexible repayment tenures ranging from 3 to 24 months, it’s designed for larger expenses that go beyond daily shopping.

The application process is entirely digital, leveraging your PAN, KYC, and credit history for a quick eligibility check.

As for the eligibility, you can apply if:

• You are an Indian citizen
• You are between the ages of 22 and 55
• You are a salaried or self-employed professional with a regular income

Things to know before you apply:

• Interest Rates (XpressLoan): Typically range from 18% to 32% p.a., depending on your risk profile.
• Processing Fee (XpressLoan): One-time fee of about 2% of the loan amount + GST.
• Late Payment Charges (BNPL): Missing your BNPL due date attracts significant penalties — either a flat fee or a percentage of the outstanding amount.
• Credit Limit: Varies by user; may change based on repayment behavior.
• CIBIL Reporting: LazyPay reports all BNPL and loan repayments to credit bureaus. Timely payments improve your score, but defaults or late payments can lower it.
• User Reports: Some users have noted delays in account closure or CIBIL updates even after clearing dues.

Beyond credit, the app also integrates UPI for Scan & Pay and offers a free credit score checker, making it a multi-utility financial tool for both spending and credit management.

You might remember this platform by its old name, EarlySalary, but with its rebranding to Fibe, it has sharpened its focus on being one of the fastest and most accessible instant loan providers for salaried individuals in India.

Operating as an RBI-registered NBFC (Fibe, formerly known as EarlySalary Services Pvt Ltd.) and in partnership with others like Northern Arc Capital, Fibe has built its reputation on a simple promise: quick cash when you need it most.

If the word 'urgent' defines your need for funds, Fibe should be on your radar. The platform specializes in Instant Cash Loans, which can be approved and disbursed in as little as 10 minutes. It’s designed to bridge the gap between your expenses and your next salary. You can borrow any amount from ₹5,000 up to ₹5,00,000 for tenures ranging from 6 months to 36 months.

Here’s where it gets interesting: Fibe's proprietary algorithm, the Social Worth (SW) Score, looks beyond just your credit score, making it more accessible for individuals who might be new to credit. The entire journey is app-based, requiring you to upload basic documents like your PAN card, address proof, and recent salary slips or bank statements.

As for the eligibility, you can apply if:

• You are an Indian resident
• You are between 19 and 55 years old
• You are a salaried individual with a minimum take-home salary of ₹25,000 per month (in major cities)

Things to know before you apply:

• Interest Rates: Start from 18% per annum on a reducing balance basis. But the final interest can vary based on your risk assessment.
• Processing Fees: Start from 2% of the loan amount plus GST.
• Late Payment Penalty: ₹500 or 3% of the amount, whichever is higher, will be charged as the penalty.
• Bounce charges: ₹500 for every instance
• Prepayment: You can prepay your loan after a certain number of EMIs, though foreclosure charges may apply.

And the critical question: How does Fibe impact your CIBIL score? Fibe performs a hard inquiry on your credit report when you apply, and meticulously reports all your repayment activities to credit bureaus. A CIBIL score of 600-650 is generally difficult to get credit on.  However, for scores above 700, chances get a little fairer. 

Beyond loans, Fibe has also ventured into the credit card space with the co-branded Fibe Axis Bank Credit Card, which offers cashback, dining discounts, and other lifestyle benefits, further expanding its financial product suite.

Also Read: Need smarter control over your finances. Check out AI fintech apps!

While researching, here’s the name I found most impressive that offers one of the highest limits for personal loans. The app, available for Android and iOS, gives you access to up to three lakhs rupees. However, the limit can vary depending on your credit health.

These folks have AI and ML technologies integrated into the app for credit health verifications. So, there’s no human manipulation or bias involved. You can simply apply from the app and let algorithms decide your eligibility.

The best part? You can keep this pre-approved limit on standby if you like, or use it partially. Paired with flexible repayment options and instant disbursements, the app is designed to help you access funds as you desire.

As for the application process, it's entirely paperless. Nobody is coming to visit your home due to the delay in the application. Simply use documents like your Aadhar Card, PAN Card, etc., and apply for a limit online starting from ₹45,000, going up to ₹3,00,000.

As for the eligibility, you can apply if:

• You’re between the ages of 21 and 55
• Earn at least ₹45,000 monthly through bank transfer
• Are a citizen of India and have valid documents

Things to know before you apply:

• Interest rates of CASHe begin at 2.79% per month
• Tenures can vary between 9 and 18 months, depending on your eligibility
• Maximum APR can go up to 48%
• There will be additional charges like processing fees and GST.

CASHe is an RBI-registered instant loan app and has partnerships with Bhanix Finance & Investment Ltd., Vivriti Capital Pvt. Ltd., Northern Arc Capital Ltd., and Apollo Finvest (India) Ltd., and if you have any queries or inquiries, you can reach out to support@cashe.co.in before applying for a loan.

To apply, you will need these categories of documents for online verifications:

• A valid identity proof, such as an Aadhaar Card, Passport, or Voter ID
• A proof of address, like a recent utility bill or driver's license
• Bank statements from the last three months showing salary credits
• A recent selfie for verification purposes

Beyond personal loans, CASHe also offers SIPs starting at just ₹60/ per day, lets you buy IRCTC tickets using PayLater, and offers a credit score monitoring system, making credit reports accessible in minutes. In short, it’s a 360-degree credit solution for your financial needs as well as financial health.

Some additional charges you need to be aware of:

• Interest: 2.79%–3% per month (reducing balance)
• Annual equivalent: up to 36% p.a.
• Grace period: 5 days interest-free after EMI due date
• Late payment penalty: 0.1% per day after the grace period
• Processing fee: 2.5% of loan amount (charged per loan)

CASHe checks your CIBIL score, but it also has Social Loan Quotient (SLQ) in place to calculate eligibility, loan amount, and interest rates of its users.

Let’s be clear: not everyone earns a hefty paycheck, and that’s the exact gap NIRA Finance aims to fill. This isn't a platform for massive, long-term loans; it’s a lifeline for the millions of salaried Indians in the lower-to-mid income brackets who need quick access to smaller amounts of cash.

NIRA operates as a fintech platform that connects borrowers with its network of trusted, RBI-approved NBFC partners, including giants like Muthoot Finance, IIFL Finance, and HDB Financial Services. This multi-partner approach is their secret sauce, as it increases the chances of loan approval by matching your profile to the lender most likely to accept it.

Here’s the deal: NIRA offers Instant Personal Loans in the form of a line of credit. After a one-time approval, you get a credit limit of up to ₹1,00,000. You can withdraw funds as needed (minimum ₹5,000), and you only pay interest on the amount you’ve actually used, not the entire approved limit. Repayment tenures are straightforward, ranging from 3 to 12 months.

The application process is what you'd expect: 100% digital, requiring just your PAN, proof of address, and recent bank statements from the past three months to verify your income.

The key differentiator is the eligibility. You can apply if:

• You are an Indian citizen between 22 and 59 years old
• You have a college degree
• You have a job and have been working for at least 6 months
• You have a minimum monthly salary of just ₹12,000

Things to know before you apply:

• Interest Rates: Range from 2% to 3% per month, which translates to an APR of 24% - 36%.
• Processing Fee: A fee starting from 5% to 8% of the loan amount + GST is charged upon disbursal.
• Auto-Debit Bounce Charges: If your automatic EMI payment fails due to insufficient funds, you will incur bounce charges of ₹500 and ₹100 by the finance partner of NIRA.

And now for the all-important question: What about NIRA Finance and your CIBIL score? NIRA takes this very seriously. They check your CIBIL score during the application process (often requiring a score of 681+) and report all of your repayment activity back to the credit bureaus. 

This is a real loan with real consequences; paying on time will help build your credit history, but any delays will bring your score down. However, NIRA’s line-of-credit approach makes it one of the more flexible instant loan apps in India for lower-income borrowers.

Note: You can still apply if you do not have a CIBIL score or credit history, as long as you meet other eligibility requirements.

Let's get straight to the point: RapidRupee isn't trying to compete with the big personal loan apps. It lives in the niche of small-ticket, ultra-fast, short-term credit. This is the app you turn to for an unexpected medical bill or an urgent repair, not for funding a major purchase. It is a strictly Android-only platform.

RapidRupee operates as a digital lending platform with its own RBI-registered NBFCs, Yuvaraj Finance Private Limited, and Bee Pee Jay Finance Limited (Group NBFC). This is crucial because it confirms their legitimacy in a market filled with questionable apps. Their entire model is built on speed and accessibility for minor financial emergencies.

The product is straightforward: Instant Personal Loans ranging from ₹1,000 to ₹60,000. The repayment tenures are correspondingly short, typically running from 3 to 12 months. The application process is designed to be completed in minutes with just three basic documents: your Aadhaar card for identity, your PAN card, and a selfie for verification.

But here is RapidRupee’s standout feature: its inclusive eligibility criteria. You can apply if:

• You are an Indian citizen between 22 and 59 years old
• You can still apply even if you’re not salaried
• Your monthly income should be at least ₹10,000

This acceptance of self-employed individuals with low monthly incomes sets it apart from many other platforms that cater exclusively to salaried employees with higher paychecks.

Things to know before you apply:

• Interest Rates: The maximum annual percentage rate (APR) can be 99%. While the monthly interest rate can fall between 1% to 3% per month, taking the overall interest to 12% to 36% per annum. which means the monthly interest can be as high as 3%. For small, short-term loans, this cost can add up quickly.
• Fees: A one-time processing fee of starting from just ₹349 is charged, which varies based on your credit profile and the loan amount. There may also be a small technology fee.
• Late Payment: Penalties for late payment are steep, so ensure you can repay within the short tenure.

So, does a small loan from RapidRupee affect your CIBIL score? A definitive yes. Their NBFC partner reports all loan activity to credit bureaus like CIBIL. This isn't informal lending; it’s a formal credit line. Paying on time can help build your score, especially if you're new to credit, but any default will have a serious negative impact.

Also Read: Looking for options beyond India? Here’s a list of Cash Advance Apps in the USA

Originally one of India’s most popular money management apps, Moneyview has leveraged its tech prowess to evolve into a digital lending heavyweight. It’s not just for small, urgent needs; this platform is a serious contender for significant personal financing, rivaling what traditional banks offer but without the physical paperwork and long waiting times.

Moneyview acts as a marketplace, connecting borrowers with a wide array of RBI-approved lenders. This includes their own in-house NBFC, Whizdm Finance Private Limited, as well as financial giants like Aditya Birla Finance, DMI Finance, Clix Capital, and Fullerton India. This large network improves the chances of getting an approval and a competitive rate.

The platform's core offering is instant personal loans with an impressively wide scope. You can borrow anything from ₹5,000 all the way up to ₹10,00,000. The repayment tenures are equally flexible, ranging from 3 months to 60 months (5 years), allowing for manageable EMIs even on larger loan amounts. Their proprietary credit model assesses your profile and provides an eligibility check within two minutes.

Crucially, Moneyview caters to a broad audience. You can apply if:

• You are between 21 and 57 years old
• You are either salaried or self-employed
• Your monthly income is at least ₹25,000
• Your income is credited directly to a bank account
• You have a minimum CIBIL score of 650

Things to know before you apply:

• Interest Rates: Start from 1.16% per month, which translates to an Annual Percentage Rate (APR) beginning at 14% and going from there based on your creditworthiness. On overdue EMIs, a 2% per annum interest amount is charged.
• Processing Fees: These start from 2% of the approved loan amount and are deducted upfront.
• Loan Foreclosure: Foreclosure options are available, but only after three EMIs have been paid. Further charges may apply depending on the lending partner’s policy.
• Cheque Bounce: ₹500 is charged for every bounce.

Finally, how seriously does Moneyview take your CIBIL score? Extremely seriously. The minimum score requirement is a hard filter; if you don't meet it, your application won't proceed. As a major lending platform, they report every single EMI payment (or non-payment) to all major credit bureaus.

This makes it a powerful tool for building a strong credit profile if you're disciplined, but it will unforgivingly damage your score if you default.

While Bajaj Finserv is a financial behemoth with a vast ecosystem, we're zooming in on a key offering for quick, substantial funding: the Insta Personal Loan. This product is a prime example of how a major NBFC like Bajaj Finance Limited uses its data and scale to serve customers who need large sums of money without the typical waiting period.

The Insta Personal Loan is often extended as a pre-approved offer to existing customers with a strong repayment history, but new customers with excellent credit profiles can also qualify. The process is designed for speed, with the promise of disbursal in as little as 30 minutes to a few hours.

This isn't a small-ticket loan. The offering is substantial, with amounts ranging from ₹40,000 to ₹15,50,000. The repayment tenures are one of the longest in the market, stretching from a minimum of 12 months up to 96 months (8 years), which allows for more manageable EMIs on larger amounts.

Access, however, is reserved for those with proven creditworthiness. The eligibility criteria remain stringent:

• You are an Indian citizen between 21 and 80 years old
• You are a salaried individual with a stable income source
• You have a strong CIBIL score, typically 685 or higher
• You have eligible KYC documents like Aadhar/Passport/Voter’s ID/Driving License, etc.

Things to know before you apply:

Based on their official fee structure, here’s the unvarnished breakdown of costs:

• Rate of Interest: 16% to 31% per annum.
• Processing Fees: Up to 3.93% of the loan amount (inclusive of applicable taxes).
• Bounce Charges: A flat ₹700 for every dishonored EMI payment.
• Penal Charge: A steep 36% per annum will be charged on the overdue installment amount until it's paid.
• Prepayment Charges: A significant 4.72% (inclusive of taxes) is charged on the outstanding principal for both full and part prepayments.
• Documentation & AMC: There are no documentation or annual maintenance charges.

Is Bajaj Finserv strict about CIBIL? Absolutely. The "Insta" nature of this loan is built on their confidence in your credit profile. Your CIBIL score is the primary key to getting an offer. Every aspect of this loan is reported to credit bureaus, making it a serious financial commitment that will significantly build or damage your credit history based on your repayment discipline.

Let's be very direct: Finnable has a type. Their entire lending model is built on the premise that employees with a stable employment history are lower-risk borrowers. So, they aren't just looking at your salary; they're looking at the employee duration on your employee ID card. If you have been working for a while in the public or private sector, you're exactly who they want to talk to.

Operating with its own RBI-registered NBFC license under Finnable Credit Private Limited, the platform offers a sense of security and direct accountability. They provide Instant Personal Loans ranging from ₹50,000 to ₹10,00,000, with flexible repayment tenures from 6 months to 60 months (5 years). The process is fully digital, and disbursals are typically completed within 48 hours.

The exclusivity of their model is reflected in their eligibility criteria. You can apply if:

• You are a salaried professional between 21 and 55 years old.
• Your minimum take-home salary is ₹15,000.
• You have a CIBIL score of 700+.

Things to know before you apply:

• Interest Rates: The Annual Percentage Rate (APR) is competitive for their target segment, ranging from 16% to 30.99%.
• Processing Fee: A fee of up to 5%+GST of the loan amount will be charged.
• Late Payment Fees: Significant penalties are applied for any delays in EMI payments, which will also be reported to credit bureaus.
• Pre-closure charges: These are dynamic and fall between 3% to 6%.

So, how important is CIBIL to Finnable? It's a critical part of the puzzle, but your working stability is the co-star. A strong CIBIL score gets your application in the door, but being an employee of a top-tier company is what unlocks the favorable terms Finnable is known for.

They report all loan activity meticulously, so a loan from them is a serious commitment that will reflect directly on your credit history. If you don't fit their corporate employee profile, this platform is not for you.

Pocketly has carved out a very specific and underserved niche: providing credit to those who are typically invisible to the formal banking system. We're talking about college students and freshly salaried individuals. This is a starter loan, designed for managing small, temporary cash-flow issues, not for significant expenses. It is a strictly Android-only platform.

The platform operates by connecting borrowers to its RBI-registered NBFC partners, Speel Finance Company Private Limited, Western Capital Advisors Private Limited, and Unogrowth Credit India Private Limited. This ensures that even these small-ticket loans are part of the formal financial system.

The product offering is lean and focused: Instant Cash Loans ranging from as little as ₹1000 up to ₹10,000 for self-employed individuals and ₹ 25,000 for salaried folks. The tenures are, by design, moderate, going up to 3 months for self-employed or students and 6 months for salaried people.

The eligibility criteria are the core of Pocketly's business model:

• You must be an Indian citizen over 18 and younger than 40.
• For Salaried Professionals: You must have a take-home monthly salary of at least ₹15,000 and should have a valid salary and employment history. 
• You need to use Aadhaar and PAN.
• A video KYC will be done to verify you.

Things to know before you apply:

• Interest Rates: Expect to pay between 30% and 36% per annum (2.5% to 3% per month).
• Fees: A processing fee and other charges are deducted from the loan amount before it is disbursed to your account. It can be anywhere from 0 to 7.5% + GST.
• Late Payment: Given the high interest rates, late payment penalties can make these small loans snowball into significant debt very quickly.

So, does a student loan from Pocketly affect your CIBIL score? Yes, and that is arguably one of its most important features. For many students, a Pocketly loan is their first entry into the world of formal credit. Paying it back on time is an excellent opportunity to start building a positive credit history before you even graduate. 

Conversely, defaulting on it can damage your CIBIL score before your professional career even begins, making it a powerful but double-edged sword.