Need a loan fast but don’t get a regular paycheck? No worries! Many people, like students, freelancers, and people who run their own businesses, find it hard to get loans because they don’t have the usual paycheck proofs.
But thanks to some amazing new money apps, you can easily borrow money even if you don’t have a steady income.
This blog tells you about the top 5 best instant loan apps in India made for people like you. We explain how they work, the good things about them, and share stories of how they helped others, so you can make the best decision.
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Why Instant Loan Apps Without Salary Slips Are Important
Let’s say you’re a freelancer and your income isn’t always the same every month. Or maybe you’re a student who needs money fast for an exam. Banks usually want to see things like your salary slips, which can be hard to get if you don’t have a regular job.
That’s where these special instant loan apps are really helpful! They make it easy and fast to borrow money, even if you don’t get paid the same amount every time.
Let’s explore some of the best instant loan apps you can use today!
Top 5 Instant Loan Apps Without Salary Slips in India
1. SimplyCash
Key Features:
- Loan Amount: You can borrow between Rs 50,000 to Rs 1.5 lakh
- Interest Rate: Starting from a low 2.08% per month
- Approval Time: Get your approval in Just 20 seconds
- Eligibility: All you need is your bank statement from the past six months. No need for a salary slip.
Real-Life Example
Rohit runs a small shop. He needed ₹70,000 quickly to buy things to sell during the holidays. Banks wouldn’t give him the money because he didn’t have a paycheck. He used an app called SimplyCash, showed them his bank account history, and got approved for the instant loan apps in just 20 seconds! This helped him get the things he needed for his shop and made him more money.
Why Choose SimplyCash?
SimplyCash is one of the quickest ways to get a instant loan apps approved in India. This makes it perfect for those times when you need money fast
2. mPokket
Key Features:
- Loan Amount: You can borrow from ₹500 to ₹30,000.
- Interest Rate: Starts at a low 1% per month.
- Eligibility: Students and young working people who may not have traditional income proof can apply.
- Repayment Period: You can repay the loan within 61 to 120 days.
Real-Life Example:
Priya is a college student. She needed ₹5,000 for a used laptop to help with her studies. Since she doesn’t have a paycheck, she used an app called mPokket. She just showed her college ID and Aadhaar card, and she got the money in only 2 minutes!
Why Choose mPokket?
mPokket is a popular choice for young people who need to borrow money because it has low interest rates and was made especially for students.
3. Pocketly
Key Features:
- Loan Amount: You can borrow between ₹500 and ₹10,000.
- Interest Rate: The interest rate is low, ranging from 1% to 3% per month
- Approval Time: Your loan application can be approved within 24 hours
- Eligibility: You just need to complete a simple verification process (KYC) to be eligible. You don’t need a salary slip.
Real-Life Example:
Kunal works part-time delivering things. He needed ₹7,000 to fix his bike. He used an app called Pocketly to get a instant loan apps, and the money was in his account within a day. This helped him get back to work right away.
Why Choose Pocketly?
Pocketly is a great choice when you need a small instant loan quickly for something unexpected.
4. BadaBro
Key Features:
- Loan Amount: You can borrow up to ₹10,000.
- Interest Rate: The interest rate is low, ranging from 1% to 6% per month.
- Eligibility: This loan is designed for students who are studying full-time at a college.
- Repayment Period: You have 60 days to 3 months to pay back the loan.
Real-Life Example:
Meera was studying hard for her GRE exams. She needed ₹8,000 to pay for her classes, but she didn’t have the money right away. So, she used an app called BadaBro. She showed them her college ID and Aadhaar card, and within an hour, she had the money in her Paytm wallet!
Why Choose BadaBro?
BadaBro is made especially for students. You don’t need a lot of paperwork, and you have some flexibility in how and when you pay back the loan.
5. Kissht
Key Features:
- Loan Amount: You can borrow between ₹10,000 and ₹1,00,000.
- Interest Rate: The interest rate starts at 15% per year.
- Repayment Period: You can choose to repay the loan over 3 to 24 months
- Eligibility: This loan is designed for people who own small businesses. You don’t need a traditional salary slip to qualify.
Real-Life Example:
Ramesh owns a small shop. He needed ₹25,000 to buy more things to sell before Diwali. He used an app called Kissht, and after a quick check of his ID, his instant loan apps was approved. The money was in his bank account in just a few hours, so he could buy the things he needed and sell them to his customers.
Why Choose Kissht ?
Kissht is a good choice for people who own small businesses because you can take longer to pay back the loan and borrow larger amounts of money.
Comparison Table: Key Features of Instant Loan Apps
| Instant Loan Apps | Loan Amount | Interest Rate | Approval Time | Eligibility |
| SimplyCash | Rs 50,000 to Rs 1.5 lakh | From 2.08% per month | 20 seconds | Bank statement |
| mPokket | Rs 500 to Rs 30,000 | From 1% per month | 2 minutes | Students and young professionals |
| Pocketly | Rs 500 to Rs 10,000 | 1% to 3% per month | Within 24 hours | Formal KYC |
| BadaBro | Up to Rs 10,000 | 1% to 6% per month | 1 hour | Full-time college students |
| Kissht | Rs 10,000 to Rs 1 lakh | From 15% per annum | A few hours | Small business owners |
How to Choose the Right Loan App for Your Needs
Here are a few tips to pick the best app:
- Assess Your Needs If you’re a student, apps like mPokket and BadaBro are good choices. For small businesses, Kissht might be a better fit.
- Compare Interest Rates: Look for apps that charge lower interest rates to save money when you pay back the loan.
- Check Documentation Some apps ask for bank statements, while others only need your Aadhaar card or college ID.
- Evaluate Repayment Terms: Choose an app that lets you pay back the loan in a way that works for you
Continue your learning journey with our other articles.
Conclusion
It used to be tough to get a instant loan apps if you didn’t have a steady paycheck. But now, thanks to special money apps, students, freelancers, and people who run their own businesses can easily borrow money quickly.
Whether you need a little cash for a class or a bigger sum to buy things for your business, these apps can help. Apps like SimplyCash, mPokket, and Kissht make borrowing money much easier.
Just figure out how much you need, compare what each app offers, and choose the one that’s the best fit for your situation.
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FREQUENTLY ASKED QUESTION (FAQs)
Can I get a instant loan apps without a salary slip in India ?
Yes, many apps like SimplyCash and mPokket give loans even if you don’t have a paycheck. You can use things like your Aadhaar card, PAN card, or college ID instead.
Which Instant loan apps is best for students ?
Apps like mPokket and BadaBro are great for students. They have low interest rates and don’t need a lot of paperwork.
How fast can I get a loan through these apps ?
It depends on the app, but some can approve your loan in as little as 20 seconds (like SimplyCash) or 2 minutes (like mPokket).
Are these loan apps safe to use?
Yes, these apps work with trusted companies that are licensed to lend money. They also keep your information safe. Always make sure the app is real and not fake.
Can I get a large loan amount without a salary slip ?
Yes, apps like SimplyCash and Kissht can give you larger loans (up to ₹1.5 lakh) even if you don’t have a paycheck.
