The uncertain times we live in demand that we create a nest egg for the future and be savvy with our finances. Saving money and making timely investments have become watchwords for a new generation of salaried professionals like yourself. But the real test of your financial acumen lies in the mode of accruing funds that you adopt. If you have an urgent or semi-urgent need for money, do you withdraw your savings or liquidate your investments? Or do both?

How about exploring a more practical approach, that of borrowing an instant personal loan from a loan app? The loan keeps your savings and investments safe, and you can repay it in a series of EMIs. The personal loan has a short tenure (not exceeding 1.5 years) so you are free of debt soon.

Are you about to apply for a personal loan? Applying correctly is key to getting approved in the first try. Here’s what you should do:

Check the list of required documents.

The loan app lists a series of documents required with the loan application. These include:

  • PAN card/Voter ID/Driver’s licence
  • Salary slip
  • Bank statement showing salary credit and all bank details
  • Utility bill showing your name OR rental house agreement that shows current address
  • Selfie or photograph from phone gallery

Please make sure all documents are self-attested before upload.

Check Eligibility.

Next, check your eligibility for the instant personal loan. The loan app calculates the eligibility based on your net take home income. This means that you cannot ask for any random amount of money to fulfil a need – the app decides how much loan amount it can approve. The higher your salary, the higher your eligibility for a bigger loan amount. However, eligibility may be lowered if you have unpaid past loans or a history of defaults. Please note that you are eligible for the personal loan only if you have a salaried job in a private firm or Government concern.

* Upload your documents as directed.

You may now upload the required documents as directed on the app. This is a simple process that takes a few seconds. The app confirms receipt of your documents and asks you to await the next stage: approval or rejection.

* Await approval.

If all your documents are correctly uploaded, your eligibility is high, credit score is good and repayment ability is proven, the loan app approves your loan request. It thoroughly checks your credentials and financials before granting approval. However, it may reject your request if your credit score is below par, or if there are lacunae in your documents. You may reapply after a few months once you clear up your credit score and get the correct documents.


Presenting your loan application with correct documents as required gets you quick approval, without any delays or the possibility of an outright rejection.

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