In today’s fast-paced digital era, getting access to instant credit is just a tap away. Whether it’s for a medical emergency, education, home renovation, or travel plans, loan apps in India have transformed how people borrow money. With minimal documentation, fast approvals, and attractive interest rates, these apps are becoming a go-to solution for many.
But the challenge lies in choosing the best loan app with the lowest interest rates. This guide will help you navigate through the top-rated apps in India that offer affordable loans, along with key features, eligibility, and interest rate comparisons.
Why Use Loan Apps in India?
Before diving into the top loan apps, let’s understand why they are gaining popularity:
- Quick disbursal – Most apps offer same-day or next-day disbursal.
- Minimal paperwork – 100% digital process.
- Flexible tenure – From a few days to up to 60 months.
- No collateral required – Ideal for salaried and self-employed individuals.
Factors to Consider Before Choosing a Loan App
To ensure you’re making a sound financial decision, keep the following factors in mind:
| Factor | Why It Matters |
|---|---|
| Interest Rate | Determines the cost of your loan |
| Processing Fees | Some apps charge a fee upfront |
| Repayment Flexibility | Check for prepayment or part-payment options |
| Customer Support | Essential for issue resolution |
| App Ratings & Reviews | Reflects real user experiences |
Top 10 Best Loan Apps with Lowest Interest Rates in India (2025)
Here’s a curated list of loan apps that offer low-interest personal loans in India, based on user ratings, interest rates, features, and overall trustworthiness.
1. Navi
- Interest Rate: Starting from 9.9% p.a.
- Loan Amount: ₹10,000 to ₹20 lakhs
- Tenure: 3 to 72 months
Key Features:
- 100% paperless and instant approval
- Credit score not always mandatory
- Zero foreclosure charges
2. PaySense
- Interest Rate: 16% to 36% p.a.
- Loan Amount: ₹5,000 to ₹5 lakhs
- Tenure: 3 to 60 months
Key Features:
- No credit history needed
- Personal loans for salaried and self-employed
- Fast KYC and disbursal process
3. KreditBee
- Interest Rate: Starting from 12% p.a.
- Loan Amount: ₹1,000 to ₹3 lakhs
- Tenure: 2 to 15 months
Key Features:
- Quick short-term loans
- Ideal for students and gig workers
- Instant transfer to bank account
4. MoneyTap
- Interest Rate: Starting from 13% p.a.
- Loan Amount: ₹3,000 to ₹5 lakhs
- Tenure: Up to 36 months
Key Features:
- Offers credit line facility
- Interest only on used amount
- Flexible EMIs
5. CASHe
- Interest Rate: Starting from 27% p.a.
- Loan Amount: ₹1,000 to ₹4 lakhs
- Tenure: 3 to 18 months
Key Features:
- Targeted towards young professionals
- AI-based approval system
- Also offers Buy Now Pay Later (BNPL) services
6. NIRA
- Interest Rate: Starting from 18% p.a.
- Loan Amount: ₹5,000 to ₹1 lakh
- Tenure: 3 to 24 months
Key Features:
- Designed for first-time borrowers
- Easy eligibility for salaried individuals
- No hidden charges
7. LazyPay
- Interest Rate: 15% to 32% p.a.
- Loan Amount: ₹10,000 to ₹1 lakh
- Tenure: Up to 24 months
Key Features:
- Offers personal loans and BNPL
- Good for online shoppers
- Flexible repayment options
8. IndiaLends
- Interest Rate: Starting from 10.75% p.a.
- Loan Amount: ₹25,000 to ₹50 lakhs
- Tenure: Up to 60 months
Key Features:
- Aggregates offers from multiple banks/NBFCs
- Free credit report
- Tailored loan offers
9. Fibe (formerly EarlySalary)
- Interest Rate: 18% to 30% p.a.
- Loan Amount: ₹5,000 to ₹5 lakhs
- Tenure: Up to 36 months
Key Features:
- Instant salary advance
- Student education and skill development loans
- App-based approval in 10 minutes
10. Dhani
- Interest Rate: Starting from 13.99% p.a.
- Loan Amount: ₹1,000 to ₹15 lakhs
- Tenure: 3 to 60 months
Key Features:
- Instant credit line available
- Cashback on usage via Dhani card
- Health-related financial benefits included
Loan Apps Interest Rate Comparison Table
| App Name | Starting Interest Rate | Loan Amount Range | Maximum Tenure |
|---|---|---|---|
| Navi | 9.9% p.a. | ₹10,000 – ₹20L | 72 months |
| IndiaLends | 10.75% p.a. | ₹25,000 – ₹50L | 60 months |
| KreditBee | 12% p.a. | ₹1,000 – ₹3L | 15 months |
| Dhani | 13.99% p.a. | ₹1,000 – ₹15L | 60 months |
| MoneyTap | 13% p.a. | ₹3,000 – ₹5L | 36 months |
| PaySense | 16% p.a. | ₹5,000 – ₹5L | 60 months |
| NIRA | 18% p.a. | ₹5,000 – ₹1L | 24 months |
| CASHe | 27% p.a. | ₹1,000 – ₹4L | 18 months |
Eligibility Criteria (Generalized)
Although each app may have slightly different eligibility rules, here are the typical criteria:
| Criteria | Requirement |
|---|---|
| Age | 21 – 60 years |
| Income | Minimum ₹15,000 – ₹25,000 per month |
| Employment Type | Salaried or self-employed |
| Credit Score | 650+ preferred (some apps don’t require) |
| Documents | PAN, Aadhaar, salary slips/bank statement |
Tips to Get Loans at the Lowest Interest Rates
Here are a few strategies to lower your borrowing cost:
- Maintain a good credit score (700+)
- Compare offers across multiple apps
- Go for shorter tenure if you can afford higher EMIs
- Check for seasonal or partner offers
- Negotiate if you have a strong credit profile
Are These Apps Safe to Use?
Yes, the apps mentioned in this list are either backed by RBI-registered NBFCs or act as aggregators for regulated financial institutions. However, always read terms and conditions, check permissions before installing, and avoid apps that ask for unnecessary access to contacts, photos, or messages.
When Should You Avoid Loan Apps?
While loan apps are useful, avoid them if:
- You’re taking multiple loans at once (debt trap risk)
- You don’t have a steady income source
- You are borrowing for non-essential expenses
Conclusion: Choose Smart, Borrow Smart
Loan apps in India offer unmatched convenience, especially for young professionals, freelancers, and those with limited credit history. But remember, low interest doesn’t mean low responsibility. Compare thoroughly, borrow only what you need, and always repay on time to maintain your financial health.
Whether it’s Navi’s low rates, KreditBee’s short-term flexibility, or MoneyTap’s credit line convenience, there’s a perfect loan app for everyone in 2025.
FAQs – Best Loan Apps in India
Q1: Which loan app offers the lowest interest rate in India?
A: Navi currently offers loans starting at 9.9% p.a., making it one of the most affordable options.
Q2: Can I get a loan without a credit score?
A: Yes, apps like PaySense and KreditBee offer loans to first-time borrowers.
Q3: Is it safe to use loan apps?
A: Stick to RBI-regulated apps and check reviews. Avoid apps asking for excessive permissions.
Q4: How fast can I get the money?
A: Many apps offer same-day or instant disbursal, depending on eligibility.
Q5: Are these loan apps available 24/7?
A: Yes, you can apply anytime, although processing may happen during business hours.