You might face a variety of financial problems at different phases of life. Whereas some problems could be solved by delaying the purchase of some items or by putting off the plan for a trip and saving up that money, some problems are unexpected and urgent.
If you are looking for immediate funds to meet your emergency requirement of cash, you can always opt for an instant personal loan. There are a lot of lenders on the web who provide instant personal loans at a reasonable rate. You can get your loan approved hassle-free and get your loan amount in your bank account without stepping out of your house. All that it takes is 2 clicks.
Now, as this is a personal loan, most of the lenders provide it without any collateral, and hence they are unsecured loans. Not only these loans have quick disbursal, but you also get the benefit of no-touch processing, policies directed for the well-being of borrowers, and the most important part being, the demand for a minimum amount of documentation. Apart from this, the repayment tenure can always be decided by you.
Once you apply for the loan and provide the required documentation, you can get the funds in your account within 20 minutes. The approval process is speedy and hence the fast disbursal. Apart from that, there are pre-approved loan offers as well. One can instantly get the funds they require via such loans.
Here is how ?
- Application process:
If you are checking for a pre-approved loan, all you need to do is enter your personal contact details like name and contact number. If you already have a financial association with your lender, your details will be entered automatically, and you’ll be able to avail the loan as soon as possible.
- Check eligibility:
You have to satisfy several eligibility criteria to qualify for an instant personal loan. Most of the lenders have similar personal loan eligibility criteria, some of which are as follows:
- The age of the borrower should be 21 years or more to apply for a loan
- The upper limit of age for instant personal loans is 60 years for salaried individuals
- The upper limit of age for instant personal loans is 65 years for the self-employed candidates
- The minimum monthly income of an applicant should be 25,000 INR
- Documentation:
Such loans don’t require extensive documentation for approving your application. The existing borrowers will directly have to apply for the loan, whereas the new ones will have to submit a minimal number of documents required for the approval. Only the basic documents like proof of identity, proof of income will have to be submitted, and you can easily get the loan without even stepping out.
- Repayment methods:
Personal loan lenders generally allow you a time of five years to repay the loan amount. Depending upon your regular income and ease of payment, you can decide a tenure for yourself. If you opt for a longer tenure basis your income and expenses, you’ll have to pay in smaller amounts. However, if you go for a shorter tenure, you’ll get to pay a much lower interest rate for the same amount of money. So one has to decide their repayment tenure based on both their affordability and comfort.
Benefits of instant personal loans:
- There are no hidden charges except the interest and principal amount
- The interest rates are quite attractive
- Pre-approved loans help you get the funds easily and fast
- You get to choose your repayment tenor
- You have a say in deciding the EMI
You can use your personal loan in many ways. It may be the payment of medical bills, home renovation, or a wedding; personal loans are capable of covering all such expenses. You can even consolidate your credit card or pay off other debts. Personal loans even help you with a cash crunch in a business. Whatever the problem be, an instant personal loan is just two clicks away.
