RBI Approved Loan Apps List 2023: Check the Full List Here. In India, the Reserve Bank of India (RBI) is in charge of overseeing financial institutions and transactions. It grants various banks, NBFCs (Non-Banking Financial Companies), and fintech firms licenses and authorization to provide financial services, including loans. To guarantee that these institutions adhere to regulations, uphold transparency, and safeguard the interests of borrowers, the RBI’s clearance is necessary.
You should search for financial institutions that have the RBI’s approval to provide loan products online if you want to locate RBI-approved loan apps. These could include both conventional banks and NBFCs, in addition to more recent fintech startups that have received the required permits.
RBI Approved Loan Apps List 2023
A mobile application that offers financial services and loans to people and companies is known as an RBI Registered Loan App if it has gained official permission and registration from the Reserve Bank of India (RBI). The RBI carefully examines these applications to make sure they adhere to rules on data protection, privacy, and fair lending practices.
Borrowers may trust the legality and dependability of the platform by using RBI-registered loan applications. Convenience, prompt approval times, competitive borrowing rates, and open terms are all offered by these applications. They also provide a smooth digital experience for credit application submission, document submission, and quick fund disbursal, making borrowing simpler and more accessible for customers.
Top 10 Best RBI Registered Loan App In India:
Bajaj Finserv, Money View, CASHe, Paytm, Zest Money, Dhani, Paysense, Kreditbee, and a few other carefully chosen applications are RBI Approved loan apps. They are among the very few RBI Registered Loan apps that are readily available in India. You can Trust These apps For Instant Loans.
What are NBFC Registered Loan Apps In India?
Following are the NBFC Registered Loan Apps In India. Check full List Below
|App Name||Loan Limit|
|Paytm postpaid||1 lakh|
|Rupeek App||50 lakh|
|Saral Bhugtan bad me||1 lakh|
|Paytm personal loan||2 lakh|
|Crazy be||2 lakh|
|Bharat pay||5 lakh|
|MI Credit||5 lakh|
|Tata New App||10000 to 10,00,000|
|Tata capital||10 lakh|
|Flipkart pay later||60,000|
|Zest Money||2 lakh|
|Khatabook||50,000 to 10 lakh|
|Paisabazaar credit limit||50,000 to 10 lakh|
|Bajaj Finserv App||50,000 to 5 lakh|
|SBI Yono||15000 to 60,000|
|Onecard App||10,000 to 15000|
|IBL Finance App||5000 to 25000|
|Roofilo Loan App||5000 to 25000|
|mPocket||500 to 30,000|
|Dizzy Money||5000 to 25000|
|Cashe||1000 to 3,00,000|
|Fairmoney loan app||2 lakh|
|Money view||10,000 to 5,00,000|
|Creditone||5000 to 25000|
RBI Approved Loan Apps Ratings:
Here Is the List of Top apps With Their Rating In the Play Store. These Are Some of the Most Popular Apps which Are Used By The Customers
|India Gives Loan||3.8/5|
|Pay me India||4.2/5|
How to Check RBI Registered Loan App?
Follow This Process To Check the List of all RBI Registered Loan Apps On the Official Website of RBI. Follow The Process Given below
- The official website of the Reserve Bank of India (RBI) Is www.rbi.org.in
- Now Home page Will Appear Before you.
- Now Visit the “Financial Education” or “Consumer Information” sections of the RBI website.
- Next Look at the category or region related to “Enlisted NBFCs” or “Rundown of Approved Advance Applications.”
- Now You Will See a Pdf Of All Enlisted Apps Which Are Approved By RBI.
- Now Click on Download Button.
How to Download RBI Registered Loan Apps?
Follow the process Given below. Step by Step Process is Given below To Download the App.
- First Visit Apple Store or Google play store
- Now Search For Loan App which you Want to Install On Your Smartphone
- Now Click On the Install Button Or Download button
- Now the App is Downloaded on Your Mobile Phone
- In the next Step, Now you Need to Open The app And Create A Account.
What Is Eligibility For RBI Registered Loan Apps?
Friends, if you are thinking of taking a loan from the RBI Registered Loan App, then you should have the following qualifications so that you get a good credit limit –
- Applicant must be a citizen of India.
- The minimum age of the applicant should be 21 years and the maximum age should be 60 years.
- There must be a source of income.
- Your CIBIL score should be good.
- You must have a savings account as well as Internet banking.
- Your Aadhaar must be linked to your mobile number.
Note: You should also know whether the app from which you want to take a loan serves your city or not. If you have the qualifications given above, then you can get a loan from any loan application very easily.
What Documents We Need For KYC To Take Loan From RBI-Approved Loan Apps?
If you want to take an online loan, then it is very important for you to have all the following documents, only then you can apply for an online loan –
- Aadhaar Card
- Voter ID Card
- Or any other identity card
- PAN Card
- Bank Statement
- The loan app also asks for your selfie For KYC
What is the Minimum And Maximum Interest Rate For RBI Approved Loan Apps in India?
For The customers, We are Providing Interest Rates for all RBI Approved Loan Apps. You can Check All Apps Minimum Interest Rates Which they Charge From Customers. Full List is Given below In the Table.
|App Name||(Minimum) Rate of Interest (p.a.)|
|IIFL Personal Loan||12.75%|
|IndusInd Bank Personal Loan||10.49%|
|IIFL Business Loan||12.75%|
|Branch Personal Loan Cash Loan App||24.00%|
|Dhani (Credit Line)||0.00%-42.00%|
|India’s Gold Loan||8.28%|
|IDFC First Bank (MyFIRST Partner)||11.00%|
|Rupeek App Gold Loan||7.08%|
|FlexSalary Instant Loan App (Credit Line)||36.00% (Maximum)|
|Hero FinCorp||25.00% (Maximum)|
|Kreditzy||0 – 28.80%|
|ZestMoney (Credit Line)||3%-35%|
|Paytm Personal Loan||10.5%|
|Aditya Birla Capital||14.00%|
|Creditap (Study Loan)||8.45%|
|CreditScore, CreditCard, Loans||10.99%|
|Fast Cash Loan||14.00%|
|Fullerton India mConnect||8.00%|
FAQ: RBI Approved Loan Apps List 2023
Which Loan Apps Are Approved By RBI?
Ans: Following Apps Are Approved By RBI
- Money View
- Money Tap
- Bajaj Finserv
- Zest Money
Which Loan Apps are Legal in India?
Ans: All such loan Apps that have been approved by the Reserve Bank of India and the Central Government are legal in India.
Is Nira App Approved by RBI?
Ans: Nira Finance is a very good application for a personal loan that has been approved by RBI.
Is Rufilo App RBI Registered?
Ans: ye sIt is approved By RBI. When you go to the official website of the Rufilo App and read about its policy, you will see that it has been registered by the Reserve Bank of India.
Is MobiKwik approved by RBI?
Ans: MobiKwik is a fully RBI-approved application on which you can take a loan of up to Rs 30000.
Is CreditBee Approved by RBI?
Ans: Yes it is approved by RBI, Creditbee is the most popular application for personal loans, which can be taken from ₹10000 to ₹300000. This has also been approved by the Reserve Bank of India.
Is Navi Loan App RBI Approved?
Ans: Yes it is registered and regulated by the RBI With this app, you can take a loan up to a maximum of ₹2000000.