A personal loan is a godsend for borrowers because they can use it in an emergency or when they are short on cash. Personal loans are unsecured loans with no end-use restrictions; thus, they can be used to finance weddings, vacations, medical expenses, or almost anything else. You can also get a quick personal loan to use as an emergency reserve. This is why an instant personal loan becomes the most comfortable financial cushion for most borrowers with such benefits.  

Traditional banks take a long time to process cash loan applications, but thanks to advancements in technology, you can now get a personal loan in India in minutes using a variety of personal loan apps. 

The application and disbursement process for personal loans has become extremely simple and speedy due to these apps. By applying using the app, you can now borrow funds quickly and conveniently with minimal documentation. 

In this blog, we’ve compiled a list of the best personal loan apps for 2022 that have swept the market and are revolutionizing the way people borrow. Do you want to learn more? Let’s take a closer look at some of them. 

Best Instant Personal Loan Apps in 2022 

  • Home Credit 

Home Credit India is a leading financial service provider spread over 300+ cities across 20 states in India. Whether you want a loan for your dream vacation, an online course, or a medical emergency, Home Credit can help you beat all your financial troubles. Minimal paperwork, easy EMI options, and quick funds disbursal are all hallmarks of a Home Credit personal loan. You can easily avail yourself of a quick personal loan up to ₹5 lakhs with instant approval, zero collateral, and flexible repayment options. 

Features & Benefits of Home Credit Personal Loan 

  • Loan Up to ₹5 Lakhs: Home Credit India offers an instant personal loan starting from ₹25000 up to ₹5 lakhs. 
  • Flexible Repayment Options: You can easily opt for a repayment tenure ranging from 6 to 36 months. 
  • No Collateral Required: You do not need to provide any collateral or any security to get a personal loan. 
  • No Credit History Required: You can get a personal loan from Home Credit even if you are doing it for the first time. 
  • Instant Loans with Just 2 Documents: To apply for an instant personal loan, you just need 2 documents – Your identity and residence proof. 
  • Easy Application Process: Applying for a personal loan with Home Credit is quick, easy, and seamless with minimal paperwork and instant approvals. 
  • Digital First Process: Apply for an instant loan online using the “Home Credit India App” and skip the long waits with a completely digital application process. 

How To Apply for an Instant Personal Loan from Home Credit? 

To get an instant personal loan of up to ₹5 lakhs from Home Credit, just follow the steps given below: 

  1. Download the “Home Credit India” mobile app from the Google play store. 
  2. Complete your loan application by filling in your personal details. 
  3. Upload the required documents and instant approval will be received shortly. 

  • KreditBee 

Founded in 2015, Kreditbee is one of the many personal loan apps designed to help young professionals in India. You can borrow an amount as little as ₹1000 and as much as ₹2 lakhs. Anyone over the age of 18 with a monthly income of at least ₹10,000 can download the app and apply for the loan. You must wait for verification and approval after uploading the required documents. The loan money is then credited to your bank account once it has been approved. 

  • NIRA 

NIRA is a FinTech firm in India that provides salaried workers with a line of credit. You can avail yourself of a personal loan with a credit limit ranging from ₹3,000 to ₹1 lakh. The loan tenure can last anything from three months to a year. You can only withdraw a maximum of ₹5,000 at a time. The amount of interest charged on the loan is determined by the amount you borrow and the repayment period you choose.  

  • MPokket 

This personal loan app is intended specifically for college students and provides them with extra income. You only need to download the app, enter all the required information, and the money will be credited directly to your bank account or Paytm Wallet once your application is approved. The credit line is initially granted for ₹500, and it grows over time if you use it and pay it back on time. The repayment tenure ranges from two to four months. 

  • LazyPay 

LazyPay is one of the top personal loan apps in India, powered by PayU. It provides timely approvals as well as an online loan processing facility. With their mobile app, all you need is your phone number to find out if you qualify for a loan. LazyPay’s key offerings include a personal loan ranging from ₹10,000 to ₹1 lakh with minimal documentation and a simple digital application process.  

So, there you have it: the top 5 instant loan apps in India in 2022. You can select any of the apps based on your requirements and budget. But remember, even though the number of lenders offering personal loans has increased, you should still seek a lender that has easy eligibility requirements, flexible repayment options, and no hidden charges before making a final decision. 

With Home Credit personal loan, you can be worry-free and say goodbye to all your financial woes. Be it medical emergencies, home remodels, a travel plan, or anything else, our personal loan of up to ₹5 lakhs with instant approval, easy eligibility criteria, zero collateral, and no hidden charges will keep you covered.