Top 15+ RBI Approved Loan Apps in India You Can Trust (Easy Process)
Published on : September 23, 2023

As more people turn to digital loan apps for borrowing, it’s essential to know which ones the Reserve Bank of India (RBI) trusts.

The RBI is like a guardian overseeing banking in India. They make sure loan apps are safe, reliable, and follow the rules.

The RBI sets guidelines for these apps to ensure they protect your personal information and handle your finances securely.

Here, we’ll look at loan apps that have the RBI’s approval, explaining why this matters and how it impacts people who need loans. It’s all about making wise choices while borrowing in the modern world.

RBI Registered Loan App List 2024

Below is the complete list of the RBI-trusted personal loan apps.

App NameCredit Limit
PaySenseUp to 5 Lakhs
NaviUp to 5 Lakhs
SmartCoinUp to 1 Lakhs
Freeo PayRs. 10,000
DhaniUp to 5 Lakhs
LoanTapUpto 10 Lakhs
Paytm personal loanUpto 2 Lakhs
MobikwikUpto 2 Lakhs
Rupeek AppUpto 50 Lakhs
KrazyBeeUpto 2 Lakhs
BharatPeUpto 5 Lakhs
True CallerUpto 5 Lakhs
Amazon Pay LaterUpto 60,000
Tata CapitalAbove 10 Lakhs
SBI YONO AppUpto 60,000
Bajaj FinservUpto 5 Lakhs
IDFC Bank Pay LaterUpto 60,000
IBL Finance AppUpto 25,000
Mystro Loans and Neo Banking AppRs. 50,000
KreditBeeUpto 2 Lakhs

Key Features of Personal Loan Apps

  • Online application
  • Minimal documentation
  • Quick approval and disbursement
  • High loan amount and long loan tenure
  • Affordable interest rates and fees
  • Easy repayment

List of Documents for Personal Loan

Photo Identity

  • Passport
  • PAN Card
  • Voter ID
  • Aadhaar Card
  • Driving Licence

Address Proof

  • Passport
  • Utility Bill (telephone, electricity, water, gas) – less than 2 months old
  • Aadhaar Card
  • Driving Licence
  • Ration Card

Income Proof

  • Salary Slips (Last 3 months)
  • Bank Statement for the last 3 to 6 months

Tax Paid

  • IT Returns (for 2 years)
  • Form 16

Residence Ownership Proof (Any One)

  • Property Documents
  • Maintenance Bill
  • Electricity Bill

Proof of Job Continuity

  • Current Employment Certificate
  • Appointment Letter from current job
  • Experience Certificate

How to Apply for Personal Loans via Loan App

If you need finances urgently, follow the steps below to get a personal loan.

  • Download the LoanTap app via Play Store or the App Store.
  • On the home page, click on the ‘Apply Now’ tab to apply for an instant personal loan
  • Select your employment profile. Choose if you are a business owner, self-employed or salaried.
  • Select the purpose of your loan, like a home loan, personal loan, wedding loan, etc., and click on continue.
  • Type in your email address and permanent residence address.
  • Enter all additional information, including monthly income, active loans (if any), and type of current residence.
  • Upload the required documents, such as bank statements, pay slips, and ownership records for real estate. 
  • Enter your PAN card number and birthdate.
  • Once all the information you’ve provided is verified, your loan amount will be sanctioned immediately if it is approved.


Ensuring the trustworthiness of personal loan apps is crucial for responsible borrowing. Among the loan apps approved by the Reserve Bank of India (RBI), LoanTap instant loan app stands out as a trusted option for personal loans.

By adhering to the RBI’s guidelines and maintaining a commitment to secure and fair financial practices, LoanTap demonstrates reliability in the digital lending landscape.

Choosing RBI-approved apps like LoanTap can provide borrowers with the confidence and assurance needed for a safe and transparent borrowing experience.