Why Choose a Low Interest Loan App?
Loan apps have become the go-to for fast credit. In 2025, with increasing competition, many platforms now offer personal loans with interest rates comparable to banks, often between 10%–15% APR. Choosing low-interest options helps you save monthly EMI and overall cost significantly.
Top Low Interest Loan Apps in India (2025)
| App | Min-Max Loan Amount | Interest Rate (APR) | Tenure | Key Features |
|---|---|---|---|---|
| MoneyView | ₹5,000 – ₹10,00,000 | ~14% p.a. (varies by partner) | 3 – 60 months | Multiple NBFC partners, credit scoring tool |
| KreditBee | ₹5,000 – ₹5,00,000 | ~13% – 24% | 3 – 24 months | Referral rewards, instant disbursal, flexible EMI |
| Navi | ₹10,000 – ₹20,00,000 | ~9.9% p.a. (lowest) | 6 – 60 months | Very competitive interest, full digital |
| Bajaj Finserv | ₹5,000 – ₹50,00,000 | ~11% – 24% | 6 – 60 months | High loan amount, joint family option |
| ICICI Insta Personal Loan | ₹10,000 – ₹15,00,000 | ~10.75% – 24% | 12 – 48 months | Bank-backed, instant approval for existing customers |
| SBI Personal Loan (Eazy EMI) | ₹10,000 – ₹20,00,000 | ~9.25% – 13% | 12 – 60 months | Very low rate for SBI account holders |
Figures are indicative; verify live APR and terms inside each app. Rates can vary by profile and special offers.
Eligibility & Required Documents
Eligibility (Common criteria)
- Age: typically 21–60 years
- Salaried or self-employed with verifiable income
- Good credit score (650+ preferred for best rates)
- Low debt-to-income ratio (ideally under 40%)
Documents Usually Required
- PAN card for KYC
- Aadhaar + selfie (digital e-KYC)
- Latest 3 months salary slips or bank statement
- Address proof if required
How to Apply — Generic Steps
- Download the official app from the Play Store/App Store.
- Sign up with mobile number and verify via OTP.
- Complete e-KYC with PAN and Aadhaar + selfie.
- Provide income details and link or upload statements.
- Select loan amount and tenure using in-app calculator.
- Review the Key Fact Statement showing APR, disbursal amount, EMI schedule, fees.
- e-Sign the agreement and set e-mandate for automatic EMI deduction.
- Receive funds—instant for bank apps, minutes to a few hours for NBFCs.
Tips to Get the Best Rate
- Maintain a CIBIL score of 700+ before applying.
- Compare APR and total payable across apps — not just flat rate.
- Prefer bank-backed apps if you hold an account with them.
- Apply during working hours — faster fund transfer clocks in sooner.
- Auto-debit from your salary account reduces late-fee risk.
- Read and save your Key Fact Statement — it's your consumer protection.
When to Avoid Instant Loan Apps
- When rates are above 24% APR — explore secured or bank-backed paths.
- If you don’t trust the lending partner — verify NBFC/bank credentials inside the app.
- If you're unable to pay EMI on time; late fees can climb fast.
- If app requests advanced outside payments — never pay via third-party wallets or UPI links.
FAQs — Best Low Interest Loan Apps
Why do interest rates vary across apps?
Rates depend on lending partner’s cost of funds, your credit profile, and product type. Bank apps often offer lower fixed rates for existing premium customers.
Can I prepay without penalty?
Most apps allow prepayment after 3–6 EMIs; check the KFS for charges—some waive fees, some charge 2%–4% of outstanding.
Is credit line cheaper than fresh loan?
Credit lines often have slightly higher APR but offer flexibility — you only borrow and pay interest on amount utilized.
Conclusion
In India 2025, there are multiple loan apps offering competitive low-interest personal loans digitally. The best picks — MoneyView, KreditBee, Navi, Bajaj Finserv, bank-backed apps — deliver transparent APRs, quick approvals, and easy repayment structures. For low-cost borrowing, compare offers on APR and total payable, maintain a good credit profile, and choose trusted apps.