RBI Registered Loan App List in India

RBI Registered Loan App List

Do you need a personal loan in India but don’t want to use a bank? Find the best RBI registered loan app list and how you can check if the quick cash app you want to use for Android or iPhone is legit.

The Reserve Bank of India(RBI) is a bank owned by the Ministry of Finance, the government of India. It is the central bank of India and is responsible for regulating the banking system in India. It shows and passes down the rules governing every other bank in India.

It controls, maintains, and issues the supply of India’s rupee across banks in India.

The Reserve Bank of India was founded on the 1st of April, in the year 1935 in Kolkata India by British Raj.

It took over from the government the functions performed by the controller of currency and imperial bank of India, the task of managing government accounts and public debts.

Being in charge of financial affairs in India,

Issuing the NBFC (Non-banking financial company) license to loan-giving companies and institutions is one of the ways RBI seeks to make sure that these companies or institutions do not cheat or rip their customers off.

If any company having this license defaults, the license can be withdrawn by RBI.

It also puts in place directions to make sure that every company or institution follows the set interest rates based on the amount of loan applied for to avoid customers being ripped off.

Eligibility Criteria For Loan Application In India

To avoid the risk and problem of not being able to pay back loans, the Indian government has put in place some standards to meet to prove your ability to pay back your loan.

To apply for a loan, you must meet up to certain criteria, some of which we have put together here.

To qualify for a loan in India, you must

● Be between the age range 18 to 60 if you are a salary earner and 21 to 65 years if you are self-employed.

● Receive a minimum of at least Rs.15000 per month if you are a salary earner and 15 Lakhs per annum if you are self-employed.

● You must have at least 1 year of working experience and 6 months with your current employer if you are a salary earner and 2 years of business experience if you are self-employed.

● You must hit a credit score of 750 and above.

If you meet up to the above criteria, you can go ahead and apply for your loan.

Documents Required To Apply For A Loan on RBI Approved App

Before you apply for loan on an RBI registered loan app list in India, here the following documents you should present:

● Utility bill

● Proof of residence

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● Ration card

● Any means of identification (identity card, voter’s card, or driver’s license)

● Some copies of property documents

● Latest salary slip for the last 6 months

● Latest bank statement

● Passbook

RBI Registered Loan App List

RBI Registered Loan App List in India

RBI has a list of lending companies that are registered under it. These companies or institutions function and play by the rules of RBI. This also ensures that your information is safe and you aren’t being overly charged as regards interest rest, because these lending companies or institutions charge interests on loans based on RBI’s direction, failure to do this could cause them to have their licenses canceled.

So if you stay in India or anywhere around India and you are looking for a loan app to use here is a list of the top loan apps in India registered and approved by the Reserved Bank of India (RBI).

PaySense: PaySense is one of the loan apps in India that is registered and approved by RBI. It loans up to 5 Lakhs to its customers. Currently one of the ten top-rated money lending apps, it rates 4.1 /5 on the list.

Navi: If you are looking for a money lending app, Navi is one you can trust. It currently loans its customers up to 5 Lakhs.

Freopay: Loaning up to Rs.10000, Freopay is an online app that has been made available to provide funds for customers who need money urgently for whatever project or need they might have. It offers loans with a reasonable interest rate and payback tenure to its customers. It is registered under RBI and is well guided by its rules.

Kreditbee: Kreditbee is a registered loan app that loans individuals and businesses in India up to 2 Lakhs.

Lazypay: Lazypay is a trustworthy loan platform that you can also patronize if you seek to borrow money. Lazypay loans its customers up to 1 Lakhs with a reasonable interest rate dictated by RBI.

MI Credit: On the MI credit loan app, you can apply for loans anywhere within India. You can apply for loans up to and above 5 Lakhs.

Cashbean: On the Cashbean loan platform, you can borrow up to 1 Lakhs instantly. It is well known and trusted and is registered under RBI.

Branch: Branch is one of the most popular loan apps in India. It is fast and reliable. It grants up to Rs.50000 worth of loans to its customers.

Nira: Nira is also rated as one of India’s top money lending platforms rating 4.4 /5. It makes an available loan of up to 2 Lakhs to its customers.

Stashfin: Stashfin offers instant loans of up to 5 Lakhs to its customers at very affordable interest rates.

Dhani: Dhani is one of the top-rated loan apps in India, rating 3.8/5. It lends up to 5 Lakhs to its customers.

Rupee App: With Rupeek, you have access to up to 50 Lakhs loan to meet your urgent needs.

Avail Finance: Avail finance is a great money lending platform if you seek to apply for a loan up to Rs.50000. It gives instant loans to its customers with a good interest rate under the direction of RBI.

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Paytm personal loan: Paytm is a personal loan platform that gives customers access to loans of as much as 2 Lakhs.

Mobikwik: Mobikwik is a mobile platform that allows customers to lend up to 2 Lakhs.

Simple pay later: Simple pay later is a credit line that allows you to loan up to about 1 Lakhs.

Bharatpe(business loan): Bharatpe is a loan platform that offers up to 5 Lakhs to businesses.

Paytm postpaid: Paytm postpaid loan platform gives you access to up to 1 Lakhs loan.

True caller: With the true caller loan app, you can borrow up 5 Lakhs from anywhere in India.

True Balance:  If you are looking to get a loan up to Rs.50000, then True balance is a loan platform you can look to. It is very trusted as it is approved by the Reserve bank of India.

Simply cash: Simply cash is an online money lending platform available for use anywhere in India to borrow up to 2 Lakhs.

Amazon pay later: With the Amazon pay later money lending platform, you can borrow up to Rs.60,000. With this amount of loan, you can finance whatever need you have to settle before you get the money to pay back.

Slice: Slice is a registered loan app that offers loans up to 1 Lakhs to individuals.

Ola Money paylater: The Ola Money lending app is an app also registered by RBI and gives credits ranging from about Rs.1500 to Rs.20000.

Zest Money: Zest money, one of the RBI registered loan apps are ready to serve you concerning giving loans. It offers its customers loans above 2 Lakhs.

Flipkart pay later: Flipkart is an online lending app that issues its customers loans of about Rs.60,000.

Tata Neu app: Tata neu is a loan platform made available in India and lends up to Rs.10000 to Rs.1000000.

Tata capital: Tata capital is a loan app registered with RBI that lends its customers up to 10 Lakhs and above.

Tata neu credit card: With the Tata Neu credit card, you can lend up to about Rs.10000 to Rs.150000.

Fairmoney loan app: Fairmoney loan app is a registered loan platform that gives customers access to up to 2 Lakhs.

Early salary: Early salary is a loan platform that allows customers to settle their needs and carry out projects ahead of their payday. You can easily acquire a loan with an early salary and payback before or on the due date. Early salary grants loans ranging from Rs.8000 to Rs.500000.

CASHe: With CASHe, you can get loans as low as Rs.1000 to as much as Rs.300000 with a good interest rate and reasonable payback tenure. CASHe rates 4.5 /5 on the rating list.

Money view: Money view is an online lending platform that offers loans ranging from Rs.10000 to about Rs.500000 to its customers, enabling them to carry out their projects and settle their needs.

Money view is also one of the top-rated loan apps in India,  rating 4.6 /5.

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IBL finance app: IBL finance loans its customers between Rs.5000 to Rs.25000.

Kreditone: Kreditone makes it easy for customers to access loans up to Rs.5000 to about Rs.25000. With Kreditone, you can be sure to receive your loan as quickly as possible with less stress.

MoneyTap: Money tap gives you access to loans of Rs.1000 to Rs.60000 with ease. You do not have to stress so much. All you have to do is ensure you are eligible, download the MoneyTap loan app on your mobile device, and apply for your loan.

Rating 4.4 /5, Money tap is one of the top-rated loan apps in India.

mPokket: mPokket grants its customers loan of nts Rs.500 to Rs.30000.

It is one of India’s top-rated loan apps and it rates 4.1 / 5 on the rating list.

DigiMoney: DigiMoney is one great loan app you can try out if you seek to get a loan of about Rs.5000 to Rs.25000.

FlexSalary instant loan app: FlexSalary instant loan app is a fast loan platform that offers swift loans to its customers ranging from Rs.5000 to Rs.25000.

Indialends: Indialends Is one of the top-rated loan apps available in India. Rating 3.8/5, It is fast and loans up to Rs.500000.

Kissht: Kissht offers loans from Rs.10000 to Rs.100000 with good interest rates under the direction of RBI.

Neo banking app & Mystro loans: Lending up to Rs.50000, Neo banking and mystro loan app is a good loan app you can trust if you seek to get an instant loan for your business or whatever personal need you have.

Khatabook app: Khatabook app loans its customers from about Rs.50,000 to as much as Rs.10,000,000. Its interest rates are strictly based on the direction of RBI, so it is a loan platform you can trust.

OneCard app: Lending from Rs.10,000 up to about Rs.150,000, the OneCard app is one app you can trust to loan you money with a very reasonable payback tenure.

Jupiter credit limit: Jupiter credit limit is a lending platform registered with the reserve bank of India that offers up to Rs.50,000.

IDFC Bank pay later: IDFC loans its customers as low as Rs.1500 to as much as Rs.60,000.

Rufilo loan app: The Rufilo loan platform is a lending platform that loans between Rs.5000 to Rs.25000.

Bajaj Finserv: Bajaj Finserv is registered loan app in India that loans from Rs.50,000 to about Rs.5,000,000

Paisabazaar credit limit: Paisabazaar’s credit limit offers loans ranging from Rs.50,000 to about Rs.10,00,000. It is registered and approved under RBI.

SBI YONO: SBI YONO offers its customers loans between Rs.1500 and Rs.60000 with reasonable interest rates depending on how much loan you are applying for.

Imobile pay later: Imobile is a loan platform you can trust if you are looking to get a loan up to Rs.20000. It is approved by RBI so you can trust your details to remain safe.

With these RBI registered loan app list, you can be sure to receive instant loans and have your details secure and safe.

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