Here is the list of the top 50 RBI approved loan apps in India in 2023. Are you looking for a hassle-free personal loan with only RBI approved loan apps? So look no further!
Here we have compiled a list of trusted loan apps that are not only safe but also verified by the Reserve Bank of India (RBI).
Whenever it comes to financial needs, it is important to choose a platform that you can 100% trust. Because there are many loan apps in the market that are fake and also unsafe.
But now you don’t need to search around for loan apps because this list ensures that you will get all the RBI approved & verified loan apps in one place which are the best, most reliable & trusted loan apps by crores of people.
Let’s explore all these verified loan apps and know their features:
Table of Contents
50+ List of RBI Approved Loan Apps in India 2023
| Sr.no | RBI approved loan apps | Loan Amount | Interest Rate |
|---|---|---|---|
| 1 | MoneyView | ₹5,000 to ₹10 lakh | 16% – 39% |
| 2 | ZestMoney | ₹1,000 to ₹10 lakh | Up to 36% |
| 3 | LazyPay | ₹10,000 to ₹1 lakh | 15% – 32% |
| 4 | Fibe | ₹3,000 to ₹5 lakh | 0% – 30% |
| 5 | HomeCredit | ₹10,000 to ₹2,40,000 | 19% – 56% |
| 6 | CashBean | ₹1,500 to ₹60,000 | Up to 26% |
| 7 | kissht | ₹10,000 to ₹1,00,000 | 14% – 28% |
| 8 | Nira | ₹5,000 to ₹1 lakh | 24% – 36% |
| 9 | mPokket | ₹500 to ₹30,000 | Starting at 52% |
| 10 | KreditBee | ₹1,000 to ₹2 lakh | 0% – 29.95% |
| 11 | Credy | up to ₹1 lakh | 12% – 18% per annum |
| 12 | MoneyTap | ₹3,000 to ₹5 lakh | 13% – 36% per annum |
| 13 | PaySense | ₹5,000 to ₹5 lakh | 16% – 36% per annum |
| 14 | Dhani | ₹1,000 to ₹15 lakh | Starting at 13.99% |
| 15 | Bajaj Finserv | ₹30,000 to ₹25 lakh | 12% – 34% per annum |
| 16 | StashFin | ₹1,000 to ₹5 lakh | 9.99% – 35.99% per annum |
| 17 | SmartCoin | ₹4,000 to ₹1 lakh | 0% – 30% per annum |
| 18 | IndiaLends | up to ₹50 lakh | Starting at 10.75% |
| 19 | FlexSalary | ₹4,000 to ₹2 lakh | Up to 36% per annum |
| 20 | LoanTap | ₹25,000 to ₹10 lakh | 18% – 30% per annum |
| 21 | CASHe | ₹7,000 to ₹4 lakh | 27% – 33% per annum |
| 22 | PayMe India | ₹2,000 to ₹2 lakh | 18% to 42% per annum |
| 23 | RupeeLend | ₹10,000 to ₹1 lakh | 365% APR |
| 24 | Upwards | up to ₹2 lakh | 9% per annum |
| 25 | Fullerton India | Up to ₹ 25 lakh | 11.99% – 36% per annum |
| 26 | Navi | Loan up to ₹ 20 lakh | 9.9% per annum |
| 27 | RING App | ₹5,000 to ₹5 lakh rupees | 14% – 28% per annum |
| 28 | Buddy Loan | ₹10,000 to ₹15 lakh | 11.99% to 28% per annum |
| 29 | TATA CAPITAL | ₹40,000 to ₹35 lakhs | Starting from 10.99% |
| 30 | CreditMantri | ₹1,000 to ₹30 lakh | 11.99% to 35% per annum |
| 31 | Finnable | up to ₹10 lakh | 16% to 28.99% per annum |
| 32 | RapidRupee | ₹1,000 to ₹60,000 | 12% per annum |
| 33 | InstaMoney | Up to ₹25000 | 2.99% per month |
| 34 | PayRupik | Up to Rs 20,000 | 18 to 22% per annum |
| 35 | Creditt | up to Rs 35000 | 0.3% per day |
| 36 | True Balance | ₹1,000 to ₹1 lakh | 2.4% per month |
| 37 | FairMoney | ₹1,000 to ₹60,000 | 12 to 18% per annum |
| 38 | Finnable | ₹50,000 to ₹10 lakh | 16 to 26% per annum |
| 39 | RupeeRedee | ₹5,000 to ₹25,000 | 0.20% per day |
| 40 | Prefr Credit | ₹10,000 to ₹3 lakh | 18 to 36% per annum |
| 41 | Pocketly | ₹600 to ₹10,000 | 1 to 3% per year |
| 42 | MyKredit | ₹2,000 to ₹50,000 | 6 to 18% per annum |
| 43 | MyShubhLife | ₹3,000 to ₹2 lakh | 29.9% per annum |
| 44 | Kreditzy | ₹1,000 to ₹2 lakh | 0% to 29.95% per annum |
| 45 | Paisabazaar | up to ₹40 lakh | Starting from 10.49% per annum |
| 46 | Hero FinCorp | ₹50,000 to ₹1.5 lakh | up to a maximum of 25% |
| 47 | Jupiter credit line | ₹10,000 to ₹20,000 | 12 to 20% per annum |
| 48 | Mystro app | ₹5,000 to ₹2 lakh | 1.80% to 3.00% per month |
| 49 | Slice | Loan up to ₹5 lakh | 0% for one month |
| 50 | ePayLater | ₹25,000 to ₹25 lakh | 3.00% per month |
| 51 | Tala Loan App | ₹1000 to ₹10000 | 36% per annum |
| 52 | RapidPaisa | ₹1,000 to ₹20,000 | 1% per month |
Benefits of using RBI approved loan apps in India
RBI-approved loan apps offer several benefits that contribute to a safe and reliable borrowing experience for the users.
- RBI-approved loan apps are safe and secure.
- RBI approved loan apps work within the legal framework of RBI.
- RBI approved loan apps follow regulatory standards.
- RBI approved loan apps often offer transparent terms and conditions.
- RBI approved loan apps offer instant loan disbursement.
- RBI approved loan apps provide trust and reliability to the users.
How to identify RBI approved loan apps:
To choose and identify the right RBI-approved loan app, consider some important tips given below:
- To identify loan apps approved by RBI, visit the official website of RBI or contact the customer support of the app.
- The loan app must comply with all relevant laws and regulations and adhere to RBI guidelines.
- Check reviews and testimonials to know the reputation of the loan app and try to find positive feedback.
- Check the loan app’s availability on Google Play Store and its total downloads, ratings, positive reviews, and other data.
- Review the terms and conditions thoroughly to see if the loan app provides clear and transparent information about fees and charges.
- Loan apps should use security features (encryption and secure payment gateways) to protect your personal and financial information.
- Check the availability of customer support of the loan app as a reliable loan app should have a responsive customer service team.
- Check the flexibility of loan repayment terms, as per your financial capacity.
- Finally, compare multiple loan apps before choosing the one.
Our Pick: Top 10 RBI approved loan apps in India (honest review)
MoneyView: Personal Loan App
MoneyView app is the most trusted RBI approved loan app in India I have been using it for the last 3 years when I actually need financial help. It’s totally safe and secure because it is verified and approved by the Reserve Bank of India (RBI).
Not only that, a whopping 4 crores plus (that’s 40 million) people already trust the Money View app for their personal loans – now that’s impressive for any user!
The Money View app has features that you must like:
- Personal Loan limit: 5000 to 10 lakhs rupees.
- Interest rate is most affordable: only 16% per year.
- Loan tenure is very long: 3 months to 60 months.
Eligibility Criteria for Money View Personal Loan:
- You must be salaried or self-employed
- Your monthly income should be ₹13,500 or more
- Your income must be received into a bank account
- You must have the minimum CIBIL score of 650
- Your age should be between 21 years to 57 years
In my opinion, the Money View app is the top RBI approved loan app in India as it has a unique credit model for the needs of all individuals. It provides a quick loan disbursement facility in any situation. Also, the loan application process is hassle-free.
NAVI: Investments, Loans & UPI
NAVI app is an instant cash loan app approved by RBI in India. You can apply for a quick cash loan up to ₹20 lakh with this app. NAVI app gives loans at very low interest which is only 9% per annum.
We have also taken a personal loan from the Navi app, which gave us loan approval in just 15 minutes that is why we have picked this in the top 10 RBI approved loan app list in India.
You can also trust the Navi App, before applying for a loan check the eligibility and read its terms and conditions carefully. NAVI Loan app offers a variety of loans, like a car, travel, bike, mobile, marriage, used car, secondhand bike, or even a laptop loan. This loan app has been downloaded by more than 5 million users, which proves its popularity.
NAVI Loan App Features:
- Personal Loan limit: 5,000 to 20 lakhs rupees.
- Affordable Interest rate: only 9% per year.
- Flexible Loan tenure: 3 months to 48 months.
- Processing fee: Zero
- Foreclosure Charges: Zero
- Application: 100% paperless
Eligibility Criteria for NAVI Personal Loan:
- You must be salaried or self-employed
- Your annual income should be >3 lakh+
- You must have the minimum CIBIL score of 750
- Your age should be between 21 years to 65 years
In my opinion, the NAVI app is the best RBI approved loan app in India! You can avail of a loan amount of up to Rs 20 lakh depending on your eligibility. The second best thing is that the NAVI loan comes with only 9% interest per annum. Third, the NAVI app does not charge any additional fees like processing fees, document fees, or foreclosure fees.
KreditBee: Personal Loan App
KreditBee loan app is another super simple loan app in India that is trusted by over 5 crore Indian users. The KreditBee app is approved by RBI and recognized as a Non-Banking Finance Company (NBFC).
With the KreditBee app, you can get a personal loan of up to ₹ 5 lakh as per your requirement – just download the app, and you are ready to go.
Whether you need money for an emergency or for a personal reason, KreditBee will be the best RBI approved loan app on your list.
KreditBee Loan App Features:
- Personal Loan limit: 3,000 to 5 lakhs rupees.
- Interest rate: 16% to 29.95% per year.
- Flexible Loan tenure: 3 to 24 months.
- Processing fee: 6.5% of the loan amount.
- Foreclosure Charges: Zero
- Application: 100% paperless
Eligibility Criteria for KreditBee Personal Loan:
- You must be salaried or self-employed
- Your monthly income should be 10,000 or above
- You must have the minimum CIBIL score of 700
- Your age should be between 21 years to 50 years
MoneyTap
MoneyTap is a legitimate and trusted RBI-approved loan app in India, we have listed it in our top 10 list because this app works with regulated financial institutions in India and it follows all the regulations set by the RBI. MoneyTap app also has its own NBFC license and is legally compliant and well-regulated.
To get a personal loan from this app, you just need a smartphone and a PAN card to check your loan limit. It only takes less than 15 minutes. With affordable interest rates and flexible EMI options, you can avail of a cash loan of up to Rs 5 lakh.
It is a user-friendly app, and that is why it is part of our top 10 RBI approved loan apps in India 2023.
MoneyTap Loan App Features:
- Personal Loan limit: Up to 5 lakhs rupees.
- Interest rate: 1.08% per month (No usage, no interest).
- Flexible Loan tenure: 12 to 60 months.
- Processing fee: 2% of the loan amount.
- Application: 100% paperless & Online.
Eligibility Criteria for MoneyTap Personal Loan:
- You must be salaried or self-employed
- Your monthly income should be 30,000 or above
- You must have the minimum CIBIL score of 700
- Your age should be 23 years and above.
PaySense
If you ask which RBI-approved loan app you prefer for a personal loan then the PaySense app will be our top-notch loan app because it is a RBI-verified company. Also, it is safe and secure.
If you are looking for a loan with low interest rates, flexible repayment plans, easy EMIs, minimum paperwork, and quick processing, then you can try PaySense if you are eligible. The best part? your credit score will be boosted just pay your EMIs on time.
PaySense Loan App Features:
- Personal Loan limit: from ₹ 5000 to ₹5 lakh.
- Interest rate: 16% to 36% annually.
- Flexible Loan tenure: 3 to 60 months.
- Processing fee: 3% of the loan amount.
- Application: 100% paperless and online.
Eligibility Criteria for PaySense Personal Loan:
- You must be salaried or self-employed
- Your monthly income should be ₹18,001 or above
- You must have the minimum CIBIL score of 700
- Your age should be 21 years to 60 years.
FAQS:
Which loan apps are verified by RBI?
From MoneyTap to PaySense, MoneyView, StashFin, India Lends, Zest Money, Dhani, LazyPay, CASHe, Ring, NIRA, NAVI, and mPockket, these top 10 RBI approved loan apps are trusted, and verified by RBI. Apart from these apps, 50+ RBI-approved loan apps are listed here, check now.
Which app is good for loan?
As digital marketers, most of the time we need extra money for our business expenses, and we mostly use the MoneyTap app for some extra cash amounts when we need. As per our last 3 years of experience using the MoneyTap app, it is a good app loan. also it is RBI regulated and approved loan app
Is KreditBee approved by RBI?
Absolutely, KreditBee is approved as an NBFC company by the Reserve Bank of India (RBI), and it works as a bridge for loan transactions between borrowers and financial institutions.
Is Buddy loan RBI approved?
Yes, Buddy Loan is approved by RBI. It is an NBFC that complies with the regulations set by the RBI. It is the most trusted platform that borrowers can avail of a loan from its various lending partners.
Is Ring app RBI approved?
Yes, the Ring app is approved by RBI and it is a made-in-India app. It is a lending platform that provides credit lines to users through an RBI-registered NBFC (C Creva Capital Services Pvt. Ltd.). This ensures that this loan app adheres to the regulatory standards set by the Reserve Bank of India.
Is RupeeRedee approved by RBI?
Yes, the RupeeRedee app is approved by the Reserve Bank of India (RBI). RupeeReady has partnered with various NBFCs which are regulated by RBI. You can get an instant personal loan of up to ₹25,000 with this lending app.
Is Nira app approved by RBI?
Certainly, the Nira loan app is approved by the Reserve Bank of India (RBI) as an NBFC.
Is LazyPay RBI approved?
Yes, LazyPay is RBI-approved and compliant with RBI regulations.
Is Fibe approved by RBI?
Yes, the Fibe app is approved by the Reserve Bank of India and it works as an NBFC, India’s largest lending platform formerly known as EarlySalary. It offers instant cash loans and personal loans up to Rs 5 lakh.
Is Kissht Finance registered with RBI?
Yes, the Kissht App is registered and approved by the Reserve Bank of India (RBI), and operated by OneMi Technology Solutions Pvt. Ltd. Eligible users can avail of personal loans up to ₹2,00,000 from this app.
Does mPokket have RBI approval?
Yes, the mPokket app is approved by RBI and has its own NBFC license. Additionally, mPokket has partnered with other licensed NBFCs to provide financial facilities to its users.
Is MoneyTap approved by RBI?
Yes, the MoneyTap app is approved by RBI and has its own Non-Banking Financial Company (NBFC) license.
Is Stashfin approved by RBI?
Yes, StashFin is RBI-approved, it operates under the regulatory guidelines set by RBI and is operated by Akara Capital Advisors Pvt Ltd, an NBFC registered with the Reserve Bank of India (RBI).
Conclusion: Top 50 RBI approved loan apps in India!
We hope that through this blog post, we have shared with you the 50+ RBI approved loan apps list that you can choose from. Also, we have reviewed the top 10 RBI approved loan apps that we mostly use.
As per our experience, these loan apps have transparency, adherence to RBI guidelines, customer satisfaction, positive reviews, and quick disbursement.
Disclaimer: Before using any of the loan apps, we have listed, do your own research so that you find the right option and do not face any problems in the future. Thank you!
Also check, RBI-approved loan apps reviews:
