RBI Registered Online Loan apps
RBI Registered Online Loan Apps 2003, How to apply online, Download Apps, Documents Required, RBI approved Online Loan Apps for instant Loans.
Introduction:
There are many Online Apps available nowadays which claims to provide instant loan and disbursement to customers. Although these apps are useful some times as they provide instant loan but at the same time, user has to be very cautious while using such apps which makes claim about instant loans.
To avoid frauds among customers, RBI has come up with approved loan app list which are genuine and can be utilized for taking instant personal loans. We have already given details about Metrogyl Online 11 App in our article.
We are hereby giving you the list of such approved online loan apps which can be used to take instant online loans.
List of RBI registered Online Loan Apps
| Credit App Name | Loan Limit upto |
| Kreditbee | Loan up to 2 Lakhs |
| Kreditzy | Loan up to 2 Lakhs |
| Paysense | Loan up to 5 Lakhs |
| NAVI | Loan up to 5 Lakhs |
| Lazypay (Credit Line + Personal Loan) | Loan up to 1 Lakh |
| Freopay (Credit Line) | Rs. 10000 |
| Stashfin – (Credit Line + Personal Loan) | Loan up to 5 Lakhs |
| Cashbean | Loan up to 1 Lakh |
| MI Credit | Above 5 Lakhs |
| Dhani (Credit Line) | Loan up to 5 Lakhs |
| Avail Finance | Loan up to Rs. 50000 |
| NIRA | Loan up to 2 Lakhs |
| Branch | Loan up to Rs.50,000 |
| Smartcoin | Loan up to 2 Lakhs |
| Rupeek App (Gold Loan) | Loan up to 50 Lakhs |
| Simple Pay Later (Credit Line) | Loan up to 1 Lakh |
| Mobikwik (Credit Line + Consumer Loan) | Loan up to 2 Lakhs |
| Paytm Personal Loan | Loan up to 2 Lakhs |
| Krazybee (Consumer Loan) | Loan up to 2 Lakhs |
| Bharatpe (Business Loan) | Loan up to 5 Lakhs |
| Paytm Postpaid (Credit Line) | Loan up to 1 Lakh |
| True Caller | Loan up to 5 Lakhs |
| Simply Cash | Loan up to 2 Lakhs |
| Slice (Credit Line) | Loan up to 1 Lakh |
| True Balance | Up to Rs. 50,000 |
| Zest Money (Consumer Loan) | Above 2 Lakhs |
| Amazon Pay Later | Up to Rs. 60,000 |
| Flipkart Pay Later | Up to Rs. 60,000 |
| Tata Capital | Above 10 Lakhs |
| Tata Neu Credit card (Qik EMI Card) | Rs.10000 to Rs.150000 |
| Tata Neu App (Qik Personal Loan) | Rs.10000 to Rs.10,00,000 |
| Ola Money Pay Later | Rs.1500 to Rs.20000 |
| Khatabook App | Rs.50,000 to Rs.10,00,000 |
| Jupiter credit limit | Up to Rs.50,000 |
| OneCard App | Rs. 10000 to Rs150,000 |
| imobile Pay Later | Rs. 20,000 |
| SBI YONO APP | Rs. 1500 to Rs. 60000 |
| IDFC Bank Pay later | Rs. 1500 to Rs. 60000 |
| Bajaj Finserv App | Rs. 50,000 to Rs. 5,00,000 |
| Rufilo Loan App | Rs. 5000 to Rs. 25,000 |
| IBL FINANCE App | Rs. 5000 to Rs. 25,000 |
| Early Salary | Rs. 8,000 to Rs. 500,000 |
| Money View | Rs.10,000 to Rs. 5,00,000 |
| CASHe | Rs. 1,000 to Rs. 3,00,000 |
| mPokket | Rs.500 to Rs. 30,000 |
| Stashfin – Credit Line & Loan | Rs. 1,000 to Rs. 5,00,000 |
| MoneyTap | Rs.1,000 to Rs. 60,000 |
| FairMoney Loan App | Loan up to 2 Lakhs |
| KreditOne | Rs.5000 to Rs. 25,000 |
| FlexSalary Instant Loan App | Rs.5000 to Rs.25,000 |
| DigiMoney | Rs. 5000 to Rs. 25,000 |
| Indialends | Rs. 5,00,000 |
| Mystro Loans & Neo Banking app | Rs. 50,000 |
| Kissht: Instant Line of Credit | Rs. 10,000 to Rs. 1,00,000 |
| CreditScore – PaisaBazaar | ₹ 1000 to ₹ 50,000 |
Precautions to be taken while applying online loan apps
All Precautions should be taken before applying in any of the above app although they are RBI approved apps, but users needs to check what documents or credentials these apps are asking before applying for the loans.
Interest rates charged on RBI Registered Online Loan apps:
| Apps Name | Interest rate |
| Pay sense | 16% to 36% (APR) |
| CASHe | 2.25% per month |
| Mpockket | 1% to 6% per month |
| Money View | 1.33% Per Month |
| India Lends | 10.75% to 25% |
| Pay me India | 18% to 42% |
| IDFC First | 6.25% to 7.5% |
| Home Credit | 2% per month |
| Money Tap | 13 – 24.03% |
| Dhani | 13.99% onwards |
| Buddy Loan | low as 11.99% |
| Navi app | starting at 9.9% |
| Lazypay | 18% to 28% |
| Nira loan app | 1.67% to 2.25% |
| Kreditbee | 0% to 29.88% p.a |
EMI payments to being repaid for RBI Registered Online Loan apps:
All apps allow to make payments in EMI after taking online loan and it should be taken care that EMI should be paid in time in order to maintain your credit score. For every loan you take, proper servicing of loan amount is must.
Timely repayment also ensure that you would get increased credit limit next time in case of need. Every online app uses credit score before calculating your eligibility for loan amount. Similarly credit score also decide the interest rate to be charged on the customer.
Documents required for taking the loan:
Important documents required taking loans from online app: These online apps require aadhar number, PAN card No and your registered mobile number. You can apply in these apps by entering your PAN number followed by your aadhar number and it will verify the data from UIDAI and PAN database. All your credit score will be fetched from PAN details and name, address details will be verified with aadhar database. For KYC verification, customer care will do a video KYC verification and after completion of Video KYC, loan will be disbursed.
Disclaimer:
All precautions have been taken to compile the data and process for taking the online loan from RBI approved apps but users are requested to cross check the details from original sites before applying loans from these apps.
RBI has also issued list of NBFCs which are approved by RBI and can be found in the list in the link: