RBI Registered Loan App List – In the times when the market is filled with fake loan apps, it’s difficult to find a legitimate lending app that is approved by a regulatory authority. If you’re hunting for the top RBI Approved Loan Apps In India, you’ve arrived at the right spot. This post will list the legit lending apps that are backed by RBI.
RBI Registered Loan App List
In comparison, traditional banks may have longer processing times and high-interest rates. On the other hand, RBI Approved Loan Apps In India provides safe and simple instant loans in less than an hour. So the next time you’re in a pinch for cash, contemplate applying for a personal loan using one of them.
Moving forward, we will present an extensive RBI registered loan app list in India and the unique features and facts you must know before applying for any of these applications in this article.
Why it is important to use only RBI Registered loan app in India
Surveys highlight that most people and small businesses have fallen prey to the burgeoning number of illicit mobile apps and digital lending platforms that offer cheap and quick loans.
These reports also cover exorbitant interest rates, added costs that borrowers are unaware of, unethical and coercive credit policies, and the illegitimate use of contracts to access data on borrowers’ mobile phones.
As per RBI, financial institutions regulated by state governments in compliance with laws, such as the money lending acts, are allowed to conduct authorized public lending activities, along with banks, NBFCs registered with the RBI, and other organizations.
In accordance with Section 45 IA of the RBI Act 1934, the Reserve Bank has granted NBFCs a registration certificate, enabling them to retain and accept public deposits. [RBI Press Releases]
In order to enable the RBI to regulate the financial system to the benefit of the nation and to prevent the affairs of any Systemically Important Non-Deposit taking Non-Banking Financial Company and Deposit taking Non-Banking Financial Company (NBFC-D), it is necessary for the public interest to use only use RBI approved loan apps in India.
RBI Registered Loan App List in India 2023
Going to a traditional bank when you need a quick loan may take some time because there is a plethora of paperwork, and interest rates of a credit card are exorbitantly high. And it could feel awkward to ask your friends or relatives.
Salary advance loans are not widely available in India. Applying for a personal loan is the wisest line of action in such cases. Below is a list of RBI Approved Loan Apps In India, which might make applying a lot easier. Scroll down to explore more about them.
|S. No.||Rbi Registered Loan App List||Credit Limit|
|1||Kreditbee Instant Loan App||Loan up to 2 Lakh|
|2||Kreditzy Instant Loan App||Loan up to 2 Lakh|
|3||Paysense||Loan up to 5 Lakhs|
|4||NAVI||Loan up to 5 Lakhs|
|5||Lazypay(Credit Line + Personal Loan)||Loan up to 1 Lakhs|
|6||Freopay||Loan up to ₹10000|
|7||Stashfin||Loan up to 5 Lakh|
|8||Cashbean– Online Loan App||Loan up to 1 Lakhs|
|9||MI Credit||Above 5 Lakhs|
|10||Dhani Loan App||Loan up to 5 Lakh|
|11||Avail Finance||Loan up to ₹50000|
|12||NIRA Instant Loan App||Loan up to 2 Lakh|
|13||Branch Loan App||Loan up to ₹50,000|
|14||Smart coin Loan App||Loan up to 2 Lakhs|
|15||Rupeek App (Gold Loan)||Loan up to 50 Lakhs|
|16||Simple Pay Later||Loan up to 1 Lakhs|
|17||Mobikwik (Credit Line + Consumer Loan)||Loan up to 2 Lakh|
|18||Paytm Personal Loan||Loan up to 2 Lakh|
|19||Krazybee (Consumer Loan)||Loan up to 2 Lakh|
|20||Bharatpe (Business Loan)||Loan up to 5 Lakh|
|21||Paytm Postpaid (Credit Line)||Loan up to 1 Lakhs|
|22||True Caller||Loan up to 5 Lakh|
|23||Simply Cash Loan App||Loan up to 2 Lakh|
|24||Slice||Loan up to 1 Lakhs|
|25||True Balance||Loan up to ₹50,000|
|26||Zest M28oney (Consumer Loan)||Above 2 Lakh|
|27||Amazon P29ay Later||Loan up to ₹60,000|
|28||Flipkart Pay Later||Loan up to ₹60,000|
|29||Tata Capital||Above 10 Lakhs|
|30||Tata neu Credit card (Qik EMI Card)||₹10000 to ₹150000|
|31||Tata Neu App (Qik Personal Loan)||₹10000 to ₹10,00,000|
|32||Ola Money pay Later||₹1500 to ₹20000|
|33||Khatabook Instant Loan App||₹50,000 to ₹0,00,000|
|34||Jupiter credit limit||Loan up to ₹50,000|
|35||OneCard Loan App||₹10000 to ₹150,000|
|36||Paisabazaar credit limit||₹50,000 to ₹10,00,000|
|37||imobile Pay Later||Loan up to ₹ 20,000|
|38||SBI YONO APP||₹1500 to ₹60000|
|39||India IDFC First Bank Pay later||₹1500 to ₹ 60000|
|40||Bajaj Finserv App||₹ 50,000 to ₹ 5,00,000|
|41||Rufilo Loan App||₹5000 to ₹25,000|
|42||IBL FINANCE App||₹5000 to ₹25,000|
|43||Early Salary Instant Loan App||₹ 8,000 to ₹ 500,000|
|44||Money View||₹10,000 to ₹ 5,00,000|
|45||CASHe||₹1,000 to ₹ 3,00,000|
|46||mPokket||₹500 to ₹30,000|
|47||Stashfin – Credit Line & Loan||₹1,000 to ₹5,00,000|
|49||FairMoney Loan App||Loan up to 2 Lakh|
|50||KreditOne||₹5000 to ₹25,000|
|51||FlexSalary Instant Loan App||₹5000 to ₹25,000|
|52||DigiMoney– Online Loan App||₹5000 to ₹25,000|
|53||Indialends||Loan up to ₹5,00,000|
|54||Mystro Loans & Neo Banking app||Loan up to ₹50,000|
|55||Kissht: Instant Line of Credit||₹10,000 to ₹ 1,00,000|
|56||IndusMobile: Digital Banking||₹5000 to 200,000|
|57||Prefr: Get instant loan||₹10,000 to ₹3,00,000|
|58||InstaMoney Personal Loan||₹5,000 to ₹25,000|
|59||Swift Loan– Online Loan App||Loan up to ₹50,000|
|60||RapidPaisa||₹ 1,000 – ₹ 10,000|
|61||CreditScore, CreditCard, Loans||Loan up to ₹ 5 Lakh|
|62||Bajaj MARKETS: Loan, Card, UPI||Loan up to ₹25 Lakhs|
|63||Fullerton India Credit Company Limited||Loan up to ₹25 lakhs|
|64||LoanFront||₹2000 to ₹2 lakhs|
|65||Pocketly||Loan up to ₹10,000|
|66||Bueno Loans||Loan up to ₹25000|
|67||PayRupik– Online Loan App||Loan up to ₹20,000|
|68||Loaney||₹200 to ₹20,000|
|69||RupeePark||₹5,000 to ₹500,000|
|70||Cash Planet – Online Loan App||₹5,000 to ₹500,000|
|71||CreditScore – PaisaBazaar||₹ 1000 to ₹ 50,000|
|72||Money Tap||₹ 3000 to ₹ 5 lakh|
Be Cautious: Beware of Fake Lending Apps!
There are many apps out there that are portraying as a legitimate lending source but are actually fake. Before believing any app, you should ask yourself questions like is credy loan app rbi registered? or any app for that matter, once you are satisfied with the digging, then proceed with the formalities.
For your financial security and peace of mind, make sure to stick to RBI approved loan apps in India. These apps are not only convenient but also regulated to protect your interests.
1. What is the significance of using RBI approved loan apps?
- RBI approved loan apps are regulated and provide safer lending options compared to unregulated apps, ensuring your financial security.
2. Are these apps suitable for emergency financial needs?
- Yes, these apps offer quick loans, making them suitable for emergency financial situations.
3. How can I verify if an app is RBI approved?
- You can verify an app’s RBI approval by checking the RBI’s official website or app listing.
4. What precautions should I take when using loan apps?
- Always read the terms and conditions, understand interest rates, and ensure the app is genuine before proceeding.
5. Can I rely on traditional banks for quick loans?
- Traditional banks may have longer processing times and stricter criteria for loans, making RBI approved loan apps a more convenient option for quick loans.
Stay financially secure and choose RBI approved loan apps wisely for your borrowing needs in India.