5 Best Loan Apps | Buy anything at No Cost EMI | Amazon Flipkart

5 Best Loan Apps | Buy anything at No Cost EMI | Amazon Flipkart

Best loan apps with No Cost EMI2020

Looking for a loan at no cost EMI during this pandemic? Here, I have filtered the best loan apps to get instant loans genuinely. Due to the pandemic, everything is being hard to manage as many people lost their jobs and trimmed salaries. Getting some loan with no cost EMI is really cool these days. Hereafter, we don’t need to ask people for money anymore. They won’t torture you anymore if you use these apps.


  • To get a loan, you have to submit your Aadhar card details by uploading front and back photos and also e-signing.
  • PAN card is also a required thing here. You have to enter your 10 digit PAN card number.
  • Make sure that your name is the same in PAN card, Aadhar Card, and the name you have entered while registering in the app.
  • Some of the loan giving especially for students may also ask for an Identity card. You can upload your college id.
  • While registering, you have to take a selfie which will your profile pic in the further.
  • Not all locations are serviceable with these loan apps. So, that you can use your college address or any other to proceed.

What happens if you won’t repay the loan?

This is a big doubt for many people who use loan apps. While registering on these types of loan apps, you are signing up for a legal obligation to repay the amount on time. One of the apps named slice pay which is standing first below will give you a loan up to 4,000 INR in the beginning. Then, accordingly, it will increase the limit. For this app, the due date is the 5th of every month.

If you don’t the amount on time, it will give you three more days(that is until the 8th) showing that your payment is overdue. And then, it will charge 25/- to 50/- as a penalty for each from then.

If you still continue doing the same, it will affect your CIBIL score will get affected and in the future, you may not get any loan for financial or house or anything else. This happens due to the linkage of Aadhar and pan card. So, better pay the dues on time.

So, let’s get the top loan apps.

1) Slice Pay

Download Link: Download Here

This is one of the best loan giving apps available on the play store.

Slice pay giving you around 4K at the beginning and the limit will get increased accordingly based on your credit score.

You can transfer into a bank account and PayTM at low-cost EMIs.

It costs no interest for several merchants like Amazon, Flipkart, Myntra, Bookmyshowetc for up to 4 months.

After 4 months, it costs reasonable amounts.

You have to adjust the amount and EMI months while drawing the amount.

Additionally, this app will also provide you a virtual card for card transactions. They cost nothing until 1 month.

The card transactions will be added to the next month’s repayment with no additional cost.

Repay screenshot mobile

No cost EMI's Merchants

Rewards and Win Amount Wallet

You will also get rewards when you repay the dues on time.

2) Mpokket Instant Personal Loan.

Download Link: Download here

MpokketInstant Personal Loan will give a pre-loan amount of up to 20,000 INR if you got approved.

You need to complete the below steps to get approved.

  1. KYC Verification (E-Aadhaar).
  2. PAN Card Verification ( Make sure that your name is the same as on PAN card, Aadhaar card, and the name you entered on this app).
  3. Take a selfie and enter the personal information required.
  4. Student information is also required along with a selfie video.

After submitting this above stuff, it will take a few hours for verifying these.

You can transfer to your bank account and PayTM directly.

Yes, of course, this process of borrowing is a simple and easy way.

Mpokket | Moneytap Instant Personal Loan

After installing, enter the required details and check whether you are eligible or not. If you are, then you must be lucky.

The interest rates if you transfer money to a bank account aren’t really cool. Of course, they are high. But, No Cost EMI with various merchants is really helpful.

Coming to the registration process, it will take a few moments if you’re eligible.

Same as other apps, it requires e-Aadhaar and PAN verification.

3) KreditBee

Download Link: Instant Personal Loan App Online Loan – KreditBee

This app requires you to upload the KYC details and verify them.

Check whether you are eligible or not.

Aadhaar Card, PAN card, and a photo are required in the process of registration.

You can get approval for the loan eligibility and then you have to fill the loan application.

Likewise, next, read the Loan Agreement carefully and then Loan Disbursement.

You can also link your Facebook with this app.

4) Red Carpet

Download Link : ATM Cash + Credit + Card + Coupons: RedCarpet

RedCarpet is especially beneficial for students who are looking to purchase useless gadgets, books, and other stuff online.

While registration, you have to fill in Personal Details, Segment Info, Student Details, Current Details, and Government Id Verification. After uploading all these, it will take a couple of days to verify all of them.

You will get a virtual card along with this account.

This may ask you around 300 INR as an initial fee. This is a negative of this app.

5) Money Views Loans

Download Link: Money View Loans: Personal Loan App, Instant Loan.

This app is especially suitable for salaried and self-employed.

You have to submit your PAN card along with Address proof and Bank Statement.

Also, providing a selfie is also mandatory.

EMI interests aren’t low but average.

Repayment is always is better rather than paying late. It will affect your CIBIL score and you will be unable to get loans on your Aadhaar and PAN cards.

See Also…

How to Check Account Balance in Google Pay & PhonePe New Update (2020){ with images}(Opens in a new browser tab)

Google Pay Vs PhonePe Vs Amazon Pay | which has more offers and cashback? (Opens in a new browser tab)

Earn Amazon Pay Cashback Daily ₹20 Free | Amazon Recharge Cashback 2020(Opens in a new browser tab)


Please enter your comment!
Please enter your name here