When your bank balance says Rs. 172, your rent is overdue, and your boss is ghosting you about salary delays… welcome to rock bottom. I’ve been there.
This isn’t financial advice. It’s what really happened to me in late 2023. And if it weren’t for a couple of loan apps I never thought I’d use, I don’t know how I would have made it.
🔥 The Crisis That Hit Like a Train
It started with a job switch that backfired. Promises were made, salaries were delayed, and I was living off leftover Maggi and guilt. Rent was due in three days. Friends were either broke or already helping someone else. My CIBIL was in the mid-600s — not great, not terrible.
I couldn’t ask my parents. I’m supposed to be the “responsible adult.” Right?
Desperate and embarrassed, I turned to something I once swore I’d never do: loan apps.
📅 Day by Day: The Timeline
| Date | Action | App Used | Amount (₹) | Time Taken | Outcome |
|---|---|---|---|---|---|
| Nov 5, 2023 | Installed KreditBee | KreditBee | 7,000 | 10 minutes | Approved |
| Nov 6, 2023 | Tried Fibe (wasn’t approved) | Fibe | — | 1 hour | Rejected |
| Nov 6, 2023 | Applied on Nira | Nira | 3,000 | 6 hours | Approved |
| Nov 7, 2023 | Paid rent + groceries | — | — | — | Crisis managed |
🔍 Why I Chose These Apps
I didn’t pick randomly. I searched for “RBI registered instant loan apps” and found a post listing legit ones (spoiler: It Was Just One Missed EMI – What Could Go Wrong?).
KreditBee stood out because of the fast approval and flexibility. Nira gave me a second chance despite my not-so-stellar credit. Fibe? Well, it reminded me that not every app is going to work for everyone.
I avoided shady ones that ask for gallery access or make threats. If it didn’t show up on RBI’s NBFC list, I skipped it.
📆 What I Did Differently (and You Should Too)
1. I Read the Fine Print: Processing fee? ₹700. Interest? Around 2.5% per month. But knowing this upfront helped me avoid surprises.
2. I Borrowed Only What I Needed: I could have asked for more. I didn’t. I kept it just enough to manage.
3. I Paid Back Before Time: KreditBee gave me a 90-day tenure. I paid in 60. Saved on interest.
4. I Tracked Everything: Used a Google Sheet to track dues, UPI payments, and auto-debits.
💪 What These Apps Did Right (And Wrong)
✅ Pros:
- Speed: KreditBee had money in my account in 10 minutes.
- UI: Nira was clean and didn’t crash.
- Customer Support: Surprisingly responsive.
❌ Cons:
- High processing fees: Especially for small amounts.
- App glitches: One app showed my repayment as pending when it wasn’t.
- Temptation to reborrow: The app keeps nudging you to take more.
⚠️ The Real Emotional Cost
I felt shame. I felt relief. Then shame again. But over time, I realized this wasn’t a failure. It was survival. And these apps, when used smartly, are just tools. They’re not villains. They’re also not saviors.
Would I recommend them? Not casually. But in an emergency, with full awareness of terms, repayment, and risks? Yes.
❓ FAQs
Q. Do I still use these apps?
Rarely. Only in emergencies.
Q. Did it affect my CIBIL?
It actually improved my score by 18 points since I paid back on time.
Q. Would I do it again?
If I had no other option and full clarity—yes. But only then.
📊 Final Word
Loan apps aren’t inherently evil. They can be risky, yes. But they can also be a lifeline if you’re informed, disciplined, and honest with yourself.
My advice? Don’t use them out of impulse. Use them as a last resort. Read every clause. Set reminders. Budget strictly.
And if you’re in that spot right now? Breathe. You’re not alone. Just don’t let shame stop you from surviving.
Read this guide comparing the top 5 safest loan apps in India : https://getloancredit.com/top-5-instant-loan-apps-in-india-updated-for-2025/
