Top 2 Personal Loan Apps in India

A personal loan is an unsecured loan that can be used for a number of expenses. It is a loan with no end-use restrictions and can therefore be used to meet any personal or professional expenses on an emergency basis. 

Loan apps are user-friendly apps linked with digital NBFCs that help individuals and businesses secure loans in an economical and efficient manner. Today, when the whole global market has shifted to a digital realm, the world of finance is also making path-breaking innovations. These loan apps are digital and accessible and can be used to get a personal loan within as little as 24 hours.

What are the Top 2 Personal Loan Apps in India?

The top two personal loan apps in India are:

  1. Money View loans app
  2. Navi loan app

Find out about their application process, eligibility criteria, document requirements, and loan plan below:

Money View Loan App

Money View is a loan app that has made the loan application process extraordinarily smooth and adaptable. When we think of bank-related business, the image that comes to our mind is not very pleasant: Going to banks and standing in long queues for hours on end without any assurance that the work will be completed by that day at all. More often than not, many of us have had to make several visits to the bank before getting our job done.

Money View’s 100% digital and paperless loan application process brings an end to these problems. The entire process of a loan application, from eligibility criteria, check, application, document submission, verification, and finally amount disbursal- is digital and can be done through Money View’s user-friendly app. Moreover, the number of documents required is minimal. This process saves money, energy, and time and is much more convenient than age-old modes of procuring loans.

How to Apply?

  • The loan application process at Money View is entirety digital
  • Check your eligibility in the Money View app
  • Select the preferred loan plan along with repayment details such as tenure
  • Upload the documents and do the KYC verification
  • The loan amount will be transferred to your account quickly

Loan Details at a Glance

  • Check quick eligibility criteria under 2 mins from the Money View app
  • The total loan amount ranges between INR 5,000 AND INR 5,00,000
  • Repayment tenure range up to 5 years
  • Interest rates start from 1.33% per month or 16% annually
  • The entirely digital process from start to end, from application, approval, and until disbursal
  • Quick disbursement period, meaning that the loan amount will be credited to the account within 24 hours of approval

Eligibility Criteria at a Glance

  • Both salaried and self-employed persons are eligible to apply
  • Minimum monthly income of INR 13,5000
  • Either a minimum CIBIL Score of 600 or a minimum Experian Score of 650
  • Age should be between 21 years and 57 years
  • Salary should be credited to the individual’s bank account
  • If self-employed, they should have been in the business for a certain period

Documents at a Glance

Documentation required to apply for Money View’s personal loan is minimal and hassle-free. Documents required are of three types: identity proof, address proof, and income proof. No physical submission of hard copy documents is required. Documents simply have to be uploaded only in the Money View app, followed by KYC registration.

  • Identity Proof: Aadhaar Card, Voter Card, PAN Card, Passport, Driver’s License
  • Address Proof: Aadhaar Card, Driver’s License, Passport, Voter ID Card, Utility Bills
  • Income Proof: PDF of salary account of the last 3 months only

Advantages of Applying for a Loan at Money View

  • Quick and digital eligibility criteria
  • Time and energy-saving application process
  • No rigorous documentation or paperwork required
  • In-house credit scoring model ensuring individuals with a low credit score are eligible to apply for loans
  • It can be applied from anywhere in India at any time

Navi Loan App

Navi instant loan app is a fintech platform that operates within the Navi Group of Companies. It is an RBI registered Non-Banking Financial Company (NBFC) with branches in over 20 cities and union territories across India. It offers many schemes and loan options, such as unsecured personal loans, Housing Loans, and Loans against Property. Their application process is entirely digital with minimum requirements in terms of eligibility and documents, thus making Navi one of the top two personal loan apps in India with guaranteed instant loan disbursal.

How to Apply?

  • Check the eligibility criteria by downloading the Navi app from Google Play
  • Enter basic information pertaining to you if you meet the eligibility criteria
  • Enter your monthly income alongside other repayment details 
  • Upload the documents
  • Wait for document verification and subsequent loan approval
  • The loan amount will be quickly disbursed to your account within minutes

Loan Details at a Glance

  • Eligibility check can be performed online instantly
  • Minimum loan amount: INR 10,000
  • Maximum loan amount: INR 20,00,000
  • Maximum repayment tenure up to 7 years
  • Interest rates vary from 12% to 36% per annum
  • 100% paperless application process and minimal documents required
  • Digital process, quick loan disbursal period

Eligibility Criteria at a Glance

  • Can be availed by both individuals- salaried and self-employed
  • Available to all persons between 18 and 65 years
  • Navi facilities are yet to be developed everywhere across India, but for now, they are available in 20 cities in India
  • The applicant should definitely be a citizen of India

Documents at a Glance

  • Proof of Identity: Aadhaar Card, Voter Card, PAN Card, Passport, Driver’s License
  • Copies of passport size photos
  • Proof of Residence: Latest Utility Bills not older than the last 3 months
  • The number of documents required as proof of income is slightly more than those required at Money View:
  1. Last 3 months’ salary slip
  2. The latest copy of Form No. 16
  3. Salary statement of the previous 3 months
  4. Employment Proof such as a Joining Letter, Employment ID, or Work Experience Certificate

Advantages of Applying for a Loan at Navi

  • All document submission will be online
  • No foreclosure charges are required upon prepayment of loans
  • Digital application and approval process
  • Money is transacted directly into the applicant’s bank account 
  • The loan amount is credited instantly upon approval

Top 10 Reasons to Apply for Personal Loan

  • Consolidate your debt by paying off the due amount on high-interest loans by securing a low-interest personal loan
  • Improve your credit score by paying off affordable personal loans easily within the tenure
  • Head out for the dream vacation that you have always wanted with a personal loan
  • Invest in home remodeling and refurnishing by obtaining an emergency personal loan
  • Procure a personal loan to invest in a big family event such as a marriage or a wedding party
  • Meet all emergency expenses, such as a medical issue or fee payment using a personal loan
  • Invest in business ventures to start or revamp your business vision
  • Invest in your child’s education
  • Pay-off your pending credit card dues 
  • To meet any other personal or professional requirement


Today, there is no dearth of personal loan choices in the market. A simple search will yield many options from where you can take a personal loan. But be sure to opt for a flexible loan amount and repayment tenure that meets your loan requirements.

Do not opt for a loan plan that you will not be comfortable repaying. Compare loan plans of various lenders and pick one of your choices. Money View and Navi’s digital, affordable, and fast loan application process make them the top 2 personal loan apps in India.