Top 30+ RBI Approved Loan Apps in India You Can Trust (Easy Process)
Published on : May 04, 2024

With the rise in popularity of digital loan apps, it’s essential to identify which ones are approved by the Reserve Bank of India (RBI).

For Indian banks and fintechs, the RBI acts as a guardian. They ensure that these financial institutions comply with the regulations, which enhances borrower security.

The RBI establishes standards for these apps to guarantee that they effectively manage your finances and protect your personal data.

Here, we’ll explore loan apps that have been approved by the RBI, outlining their significance and how they affect borrowers.

It’s important to make informed choices when it comes to choosing the right loan app.

Reasons to Choose RBI Approved Loan Apps

Safety and Security

RBI rules protect you from unfair lenders and hidden costs by enforcing strict data privacy and fair lending procedures. If you use RBI registered loan apps, you can be safeguarded from misuse of your information and borrow funds without any concerns.


Many fake loan apps charge hidden fees. All terms and conditions—including interest rates and processing fees—are mandated to be disclosed upfront, by the RBI, to avoid unexpected costs.

Grievance Redressal

If your loan app is RBI approved, you will have an authorized portal for all your complaints. In case your loan app is not RBI approved, you may not be able to take further action in case you come across a problem.


If you use loan apps authorized by RBI, your application process will be very simple. You just have to download the app, upload your documents online, and receive prompt approval. Frequent visits to lenders and lengthy paperwork hassles are over.

List of RBI Approved Loan Apps In India

If you want to take a personal loan and are looking for RBI approved loan apps in India, your search is over. Here is a list of loan apps that the RBI has approved.

Loan AppsLoan AmountInterest RateRepayment Tenure
LoanTap₹50,000 – ₹10 Lakh1.5% p.m.*6 – 60 Months
Tata CapitalUp to ₹35 lakh0.91% p.m.Up to 6 Years
SBI Yono AppUp to ₹30 lakh0.87% p.m. OnwardsUp to 84 Months
Bajaj FinservUp to ₹40 Lakh0.87% p.m. Onwards6 – 96 Months
NaviUp to ₹20 lakh0.87% p.m. OnwardsUp to 72 Months
Dhani₹1,000 – ₹15 Lakh1.16 % p.m. Onwards3 – 24 Months
AmazonPayUp to ₹6 lakhUp to 1.5 % p.m.3 – 12 Months
Kreditbee₹1000 – ₹4 Lakh1.25% – 2.49% p.m. 3 – 24 Months
ICICI BankUp to ₹50 lakh0.9% – 1.34% p.m.1 – 6 Years
mPokket₹500 – ₹30,0002% –  4% p.m.Up to 4 Months
MyLoanCare₹5000 – ₹5 Lakh1.37% p.m. Onwards3 – 36 Months
Kreditzy₹10,000 – ₹2 Lakh1.5% – 2.99% p.m2 – 12 Months
Tata Neu AppUp to ₹10 Lakh0.87% p.m. Onwards3 – 60 Months
CredyUp to ₹1 Lakh1% – 1.5% p.m3 – 12 Months
MoneyView₹5,000 – ₹10 Lakh1.33% p.m. Onwards6 – 60 Months
Finnable₹5,000 – ₹5 Lakh1 % – 2 % p.m.2 – 48 Months
FairMoneyUp to ₹60,0001% p.m. OnwardsUp to 24 Months
Privo₹5,000 – ₹2 Lakh1.08% – 3.25% p.m.2 – 60 Months
DigiMoneyUp to ₹1 Lakh1% p.m. Onwards3 – 12 Months
CapitalFloatUp to ₹50 Lakh1.25% – 2% p.m.1 – 3 Years
MoneyTapUp to ₹5 Lakh1.08% p.m.Up to 3 Years
PaySense₹5,000 – ₹5 Lakh1.3 % – 3% p.m.3 – 48 Months
PhonePe₹1,000 – ₹5 Lakh1.08% – 1.66% p.m. 12 – 60 Months
Lendingkart₹50,000 Onwards2% – 5% p.m. 12 – 36 Months
Flipkart Finance₹10,000 – ₹2 Lakh0.87 % p.m. OnwardsUp to 60 Months
StashfinUp to ₹5 Lakh0.99% p.m. OnwardsUp to 36 Months
Nira FinanceUp to ₹1 Lakh2% p.m. Onwards 3 – 18 Months
Zest MoneyUp to ₹ 5 Lakh0.99 % p.m. Onwards3 – 36 Months
Rupee Redee₹ 1,000 – ₹25,0002.5% p.m.3 – 36 Months
UpwardsUp to ₹5 Lakh1.5 % – 2.66% p.m.6 – 24 Months
Branch Loan AppUp to ₹1 Lakh2% p.m. Onwards62 Days – 12 Months
Rufilo Loan AppUp to ₹60,0001.5% p.m. OnwardsUp to 6 Months
Fibe₹5,000 – ₹5 Lakh1.16%p.m.Up to 24 Months
Smart Coin Loan AppUp to ₹2 Lakh1.5% p.m. Onwards91 – 120 Days
SliceUp to ₹50,0001.25% p.m. Onwards4 Months – 1 Year
IDFC First MoneyUp to ₹10 Lakh0.91% p.m. OnwardsUp to 60 Months
IBL FinanceUp to ₹50,0001.25% p.m. Onwards3 – 12 Months
Buddy Loan₹ 10,000 – ₹15 Lakh0.99% p.m. Onwards12 – 60 Years
FlexiSalary Instant Loan AppUp to ₹10 Lakh1.5% p.m. Onwards10 – 36 Months

Details of the RBI Approved Loan Apps

Let’s look at some features of the mentioned RBI Approved Loan Apps:


With various repayment plans and affordable monthly installments, LoanTap offers specialized loan solutions. The LoanTap personal loan app offers the following features and benefits:

  • Loan amounts between ₹50,000 and ₹10 Lakh
  • Eligibility – Must be at least 23 years of age and earn a minimum monthly income of ₹30,000
  • Quick loan approval with disbursal within 24-36 hours
  • A flexible repayment plan ranging from 6 months to 60 months
  • An easy and hassle-free online application procedure
  • No restriction on the usage of the loan – it can be used for any purpose
  • An honest and transparent loan application procedure without any hidden charges

Tata Capital

It is one of the leading lenders in the credit sector, relied on by many customers over the years. Tata Capital offers the following features and benefits:

  • Loan Amount – Up to ₹35 lakh
  • Accepts online application
  • No Collateral/Security
  • Zero charges on part prepayment

SBI Yono App

It is one of the major lending apps that provides personal loans at affordable interest rates. SBI YONO App offers the following features and advantages:

  • Low processing fee
  • Instant loan processing
  • No branch visit

Bajaj Finserv

Bajaj Finserv is a popular NBFC under the Bajaj group that provides loans for various purposes. Below are some of its features.

  • Personal loan of up to Rs 40 lakh
  • No hidden charges
  • Easy Repayment
  • Instant approval and disbursal


MoneyTap is a company that provides personal loans through its app. Below are its features.

  • Loan amount up to ₹5 Lakh
  • Instant approval
  • Flexible repayment


Navi is a well-known company that aims to simplify and provide affordable personal loans. Below are some of the features of the Navi personal loan app.

  • Loan amount up to ₹20 Lakh
  • Quick and paperless
  • Minimal documentation
  • Flexible repayment options


Dhani Loans and Services Limited is a non-deposit-taking NBFC registered with the Reserve Bank of India. It is a subsidiary of Dhani Services Limited. The features of the Dhani app are mentioned below.

  • Provides multiple EMI options
  • User-friendly app
  • Loan Amount up to ₹15 Lakh
  • Easy repayment options


This is a popular lending app that is part of the Amazon ecosystem. It provides loans for different purposes. The features of the app are mentioned below.

  • Quick personal loans up to ₹6 lakh
  • Pre-approved loan offers
  • Easy Online Application


Use Kreditbee’s RBI approved loan app to get fast personal loans in India. They offer loans to people who want approvals quickly and are willing to pay higher interest rates for that high-speed approval. Below are some features of the Kredit Bee app.

  • Quick approval
  • Minimal documentation
  • 24*7 customer support


It is one of the popular lenders that provides various forms of credit online. The features of the ICICI Loan app are mentioned below.

  • No foreclosure charges after 12 EMI payments
  • Minimal documentation
  • Easy application process
  • Fixed interest rate


mPokket is a popular lending app among students and salaried individuals. It is known for its quick approvals. The features of the mPokket app are mentioned below.

  • Personal loan between ₹500 and ₹30,000
  • The interest rate is between 2% and 4%
  • Quick loan approval and disbursal
  • Safe and secured platform


MyLoanCare is another popular lending app that focuses on transparency and affordability. Below are some of the features of the MyLoanCare app

  • Affordable interest rate
  • Easy online application
  • Dedicated relationship manager

Tata Neu App

It is one of the popular lending apps that comes under the TATA group. Below are some of the features of the Tata Neu App

  • Loan amount of ₹10,000 – ₹10 Lakh
  • 100% digital quick process


This popular loan app operates in cities like Bangalore, Chennai, Mumbai, and Hyderabad. Some of the features of the Credy app are given below.

  • No collateral needed
  • Loan Amounts of upto ₹1 Lakh
  • Quick and reliable service


It is one of the popular RBI approved loan apps that provide personal loans at affordable interest rates. Below are some of the features of the MoneyView app.

  • Easy online application process
  • Minimum documentation
  • Repay the loan through auto-debit EMIs
  • Quick loan disbursal


It is an RBI regulated and legally compliant app that provides personal loans at affordable interest rates. The features of the Finnable loan app are given below.

  • Quick and easy application process
  • High loan amount with flexible repayment tenure


It is a digital lending app that provides personal loans to those who need funds. Below are some of the features of the FairMoney app.

  • Provides top-up loans
  • Loan extension facility for easy loan repayment
  • Affordable interest rates


Privo is an RBI regulated NBFC that provides personal loans at affordable interest rates. The Privo app features are below.

  • Short-term personal loan with quick disbursal
  • No manual paperwork
  • No hidden cost
  • Affordable interest rates


It is one of the popular RBI approved NBFC lending apps that helps borrowers get funds easily. Below are the features of the DigiMoney app.

  • 100% online process
  • Affordable processing fee and interest rate
  • Easy documentation
  • Flexible EMI options

How To Verify RBI Approved Loan Apps?

Check the Official Website of the RBI

RBI maintains a list of banks and lenders that are approved by them. It is a reliable way to know if RBI approves the app or if it is fake. The RBI regularly updates this list.

Verify the Registration Number

Authentic loan apps have a valid registration number that RBI issues. You can find this registration number on the lender’s or RBI’s official website.

Review Company Reputation

Reputable lending applications and NBFCs will offer detailed information about their company, such as registration details, address, and contact details. You can also check RBI records for the details.

Check Ratings and Reviews

It is advisable to check the reviews of lenders before selecting the app. You can also check the feedback that users provide to determine whether the app is genuine or not. Apps with low ratings, unfavorable comments about fraud or other illegal activity, or a lack of transparency should be avoided.

RBI Guidelines For Loan Apps

Below are the RBI guidelines for all the loan apps for fair and transparent lending process.

  • Within a reasonable amount of time, lenders must check the loan application
  • Lenders must not discriminate based on caste, gender, religion, etc.
  • Lenders must not use unethical methods to get back the loan balance
  • When a loan application is rejected for less than ₹2 lakh, lending institutions are required to provide a written explanation
  • If the terms and conditions change, the lender must notify the borrowers as quickly as possible
  • If more documentation is required, the lender has to get in touch with the borrower immediately

Steps To Apply For A Loan Through LoanTap RBI-Approved App

Follow the below steps to apply for LoanTap personal loan

  • Visit the official website of LoanTap or download the app via the app store
  • Click on Personal Loan on the menu bar and click on “Apply Now”
  • Enter the basic info like Email ID, mobile number, City and Pincode
  • Select if you are salaried or self-employed
  • Select the type of loan and other details like loan amount and tenure
  • Fill in the application form and submit the required documents
  • Once your application is submitted, wait for approval
  • Upon approval, the loan amount will be transferred to your bank account within 24-36 hours


It is important to ensure the reliability of personal loan apps for responsible borrowing.

LoanTap is one of the most reliable options for personal loans among those approved by the Reserve Bank of India (RBI).

In the world of digital financing, LoanTap proves its reliability by complying with the RBI’s rules and practicing safe and ethical financial procedures.

By selecting RBI approved apps like LoanTap, borrowers can have a secure and transparent borrowing experience.


How can I find out if the RBI does not accept a loan app?

Ans. Check the details of the loan app on the official website of RBI or verify the lender’s reputation. Avoid disclosing personal or financial information to a lending app if you think it isn’t RBI approved.

Do lending apps approved by the RBI have any hidden costs?

Ans. Genuine apps do not have any hidden charges. Before accepting a loan, carefully read the terms and conditions to understand all relevant fees, charges, and penalties.

How can I find out if the RBI approves a loan app?

Ans. You may confirm an app’s authorization from the RBI by cross-verifying the company’s license or registration number with RBI records or by visiting the official RBI website for a list of recognized financial institutions.

Do all Indian loan apps need to have RBI approval?

Ans. Yes, any company that provides financial services, including lending apps, needs to be authorised by the RBI or another regulatory body, such the Securities and Exchange Board of India (SEBI).

Is it safe to use the loan applications allowed by the RBI?

Ans. Yes, it is safe to use loan apps that have been certified by the RBI because they follow regulatory guidelines, provide clear terms, and are monitored.

What are fake loan apps?

Ans. Apps that advertise as trustworthy sources of loans but actually carry out fraudulent activities are fake loan apps. These apps frequently target people in desperate need of funds and usually promise quick and hassle-free financing.