Top 10 RBI Approved Loan Apps In India 2024

Top 10 RBI Approved Loan Apps In India 2023

Traditionally, getting a loan from a bank or a financial institution can be a time-consuming process that takes lots of documents and verification. But nowadays loan apps become more popular just because of their easy and convenient way to access credit.

But before taking a loan from any loan app make sure that the apps are RBI-registered loan apps, just to protect yourself from falling victim to any fake loan apps because there are hundreds of fake loan apps available in the online world. But the rbi registered loan app has a license NBFC from rbi.

Must Read: 8 Simple Tips on How to Save Money From Salary

It’s become very easy to take a personal loan for your need just because of these instant loan apps which offer very quick service. So here is the list of the top 10 RBI Approved loan apps in India.

Related: 10 Best Loan Apps Without Pan Card 

Top 10 RBI Approved Loan Apps In India 2024

Rbi registered loan app list:

Apps NameRating
IDFC First4.3
Home Credit4.2
Navi app4.2
Buddy Loan4.0
Pay me India4.4
Nira loan app5.0
Money Tap5.0

How to take a loan from these instant loan apps?

To borrow loans from these rbi registered loan apps you need proper documents and must come under the eligibility criteria. So here are the important documents which you need before applying for the loan.

Documents Required To Apply for a Loan from RBI registered loan apps

  • Aadhaar Card.
  • PAN Card.
  • Voter ID.
  • Salary Slip (Depends)
  • The bank statement must be given.
  • Selfie from the loan app.

Eligibility For Applying for a Loan from RBI-registered loan apps

  • Your age should be between 21-55.
  • You must be an Indian.
  • Your credit score should be fine.

Credit Limit of RBI Approved Loan Apps In India

Each rbi approved loan app has its credit limit which represents the maximum amount you can borrow from the loan app.

Apps NameCredit Limit
Kreditbeeup to ₹3 Lakh
IDFC Firstup to ₹5 Lakh
Home Creditup to ₹75,000
Dhaniup to ₹5 Lakh
Navi appup to ₹20 Lakh
Buddy Loanup to ₹15 Lakh
Pay me India₹2 Lakh+
Lazypayup to ₹1 Lakh
Nira loan appup to ₹12k
Money Tapup to ₹5 Lakh

Kreditbee- rbi approved loan apps in India

KreditBee offers online instant personal loans in India. The RBI has approved and recognized KreditBee as a Non-Banking Finance Company (NBFC). KreditBee offer unsecured personal loans to the small business owner, salaried and self-employed. The interest rate of the KreditBee loan app is 18% to 36% per annum along with a one-time processing fee.

IDFC First- rbi approved loan apps in India

If you have a good CIBIL score then IDFC First would be a better option for you to apply for a personal loan. IDFC First is not just an app it’s a bank. IDFC First Bank has received several awards and recognition for its banking services.

Home Credit- RBI Approved NBFC

The Home Credit app NBFC provides a quick and convenient way for people to apply for loans. You can download the HC app on both Android & iOS. From electronics to home appliances, anything you buy through the Home Credit app.

Dhani- rbi approved loan apps in India

Dhani apps offer personal loans, two-wheeler loans, mutual funds, insurance, and other investment products.

Navi App- rbi approved loan apps in India

Navi app also provides financial services in India. Navi app provides personal loans at competitive interest rates and flexible repayment options. You can easily calculate your EMI through the Navi app EMI calculator.

Buddy LoanPartnered with various NBFC

Buddy Loa app partnered with various NBFC lending partners which are RBI registered. Buddy loan also provides a personal loan.

PayMe India- RBI Approved NBFC

PayMe India app provides short-term loans. All you need to register yourself on this rbi approved loan app to borrow the loan by clearing the eligibility criteria and document verification.

LazyPay- rbi approved loan apps in India

LazyPay provides personal loans, pay-later options, and EMI facilities to eligible customers.

Money Tap- rbi approved loan apps in India

MoneyTap also offers personal loans to eligible people. You need a good Credit score to apply for a loan.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top