List of Top 10 Indian apps providing instant personal loans, to end your cash crunch

List of Top 10 Indian apps providing instant loans, to end your cash crunch
List of Top 10 Indian apps providing instant loans, to end your cash crunch

We have all been in situations when we have run out of cash, but we still have one or more bills waiting to be paid. These situations occur time and time again due to some unforeseen emergency, falling short of cash on your spontaneous vacation, spending too much on your birthday party, or your child’s increased fees, that can throw your budget off balance.

Instead of asking your family and friends for an instant loan, which can be embarrassing for many of us, we aren’t left with many choices. Sometimes those credit card bills can pile up, and our only option can be a personal loan, which can often be a long and cumbersome process.

In this digital age when everything is available at the click of a button, there is now an option to avail hassle-free instant loans. There are plenty of fintech startups focused on providing instant loans to Indian consumers.

Here is a comprehensive list of 10 apps providing instant loans:


InstaPaisa is a credit decisioning platform that seamlessly connects borrowers with lenders to facilitate instant loan transactions. This New Delhi-based platform was founded by Nikhil Sama and Rohit Agrawal in 2015.

The platform was acquired by InCred Finance, a Mumbai-based non-banking finance company (NBFC), in 2016.


EarlySalary is a Pune-based fintech startup founded by Akshay Mehrotra in 2015. It provides a platform for borrowers to seek instant cash transfer directly to the bank account. The borrowers can avail a loan ranging from ₹1,000 to ₹100,000, and pay it through EMI’s ranging from 7 to 50 days. The platform claims to have disbursed more than 2.5 lakh loans worth over ₹400 crores.

The app had last raised ₹100 crores in series B funding led by Eight Roads Ventures, along with IDG Ventures India in January 2018.


PaySense is a Mumbai-based fintech startup founded by Prashanth Ranganathan and Sayli Karanjkar in 2015. Its platform provides a completely paperless process to help borrowers avail a loan of up to ₹2 lakh, disbursed instantly to their bank accounts. It also provides an option to pay through flexible EMI’s, to provide a more personalized experience.

The startup had last raised $18 million in series B round led by PayU, along with Nexus Venture Partners and Jungle Ventures in July 2018.


MoneyTap is a Bengaluru-based online lending platform founded by Anuj Kacker, Bala Parthasarathy, and Kunal Varma in 2015. The platform provides instant loans ranging from ₹3,000 to ₹5 lakh, without the need for any collateral or guarantors. The loans can be paid using flexible EMI’s ranging from 2 to 36 months.

It last raised $12.3 million in series A round led by Sequoia Capital India and Prime Venture Partners in June 2018.


CrediFiable, a digital lending platform, was founded by Presha Paragash in 2017, with its headquarter in Bengaluru. Its intelligent loan engine provides personal loans from ₹50,000 to ₹5 lakh with instant EMI options.

The platform last raised an undisclosed amount of seed funding from Kae Capital in September 2017.

Olly Credit

Olly Credit is an instant micro-credit app, founded by Anand Kumar, Ashwin Bhambri, and Ringaile Noq in 2015. It provides the option for its users to shop online using the app, and offline using its Olly-card.

It raised an undisclosed amount of funds from China-based fintech incubator and investor JadeValue, and Mumbai-based Lead Angels Network, earlier this month.

Flex Salary

Flex Salary is a Hyderabad-based digital lending platform, founded by Anil Pinapala and Srinath Kompella, along with Patrick Kishore in 2016. It provides instant approval and disbursal of loans up to ₹2 lakh. The borrowers need to submit their application once, and they can continue availing credit after the application is approved.


CASHe is a Mumbai-based fintech startup founded by V. Raman Kumar in 2016. It uses a proprietary algorithm called the Social Loan Quotient, to create a credit profile for young salaried individuals, leveraging social media platform, to facilitate instant credit disbursal.

It offers loans ranging from ₹10,000 to ₹2 lakh for a period ranging from 15 to 180 days, depending on the needs of the borrower. The startup claims to have disbursed loans worth more than ₹450 crores to over 180,000 customers.

It last raised $3.1 million in debt funding from Chennai-based Northern Arc Capital in October 2017.


OptaCredit is a Chennai-based online lending platform, founded by Kumar Srivatsan, and Sriram Chandramouli in 2016. It is an AI-powered platform assimilating data from different sources to facilitate data-driven lending to young salaried professionals.

The platform last raised $4 million in debt funding from DMI Finance in January 2018.

There is a huge growth potential in the digital lending space for Indian startups, as the Indian population gets more connected, and more shoppers get online. The startups are already leveraging artificial intelligence, and data analytics, to create personalized products for Indian consumers.

The number of fintech startups in the lending space is only going to grow, as they innovate to create better products for the new generation of online users.



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