Emergencies come without warning. It could be a medical emergency, sudden home repairs, or an upcoming wedding. You might require a small loan for a short period. This is where an instant loan comes in. They are small loans up to Rs. 6000.
If you need an instant loan, here is an easy-to-follow guide that helps you deal with emergency cash needs. But before you want to apply for an instant loan, find out if you are eligible for one.
Eligibility Criteria for Instant Loans
You need to download the instant loan app and check your loan eligibility. Here are the criteria for an instant loan:
|Eligible Profession: (Salaried / Self Employed / Student)
|Salaried and Self Employed
|Minimum Monthly Required Salary
|Salary Mode: (Bank Transfer / Cheque)
|Loan Type ( Cash Loan / EMI )
|Is Credit Line Provided
|Minimum Credit Score Required (Bureau Score)
|Minimum Tenure of Loan:
|Maximum Tenure Of Loan:
|Minimum Amount of Loan:
|Maximum Amount of Loan:
|570 (new customers)
|Income Proof Documents Required
|lastest month salary slip & bank statement
|Address Proof Document Required
|Identity Proof Documents Required
|New to Credit Allowed (Y/ N)
|No. of Active Loans Allowed
Features of Instant Loans
What makes instant loans popular are:
- Fast and convenient application process: You can apply for these loans online, and minimal documents are required. If you meet the eligibility criteria, there is instant loan approval on the same day you apply for it
- Easy access: You can apply for the loan using your mobile phone by downloading the app. You can apply for the loan 24×7
- Quick Transfer: The loan amount is transferred to your savings account
- Affordable: Low-interest rates and processing fees make these loans affordable
- Easy Repayment: Both the application for the loan and repayment can be made through the mobile app in easy instalments.
- Top-up facility: The best instant loan apps also have a top-up facility for additional funds without any additional documentation
- No hidden charges: Completely transparency regarding charges
You can apply for these loans by providing the latest salary slip and bank statement. Your credit history is important. A CIBIL score of over 690 is required. To find the best instant loan app without salary slip, go online and search for instant loan apps in India. Not only do these apps give you some amazing benefits, but they are available in up to 8 languages, so operating the app won’t be a problem.
Steps for Instant Cash Loan Application
Download the app
The first step is to download the app. It should be available both on IoS and Android.
It’s easy to register for an instant loan. You can use your contact no. to register.
Complete the application form by filling in your personal information and upload the supporting documents for income proof, address proof, and identity proof.
Enter Loan Amount
Enter any loan amount up to Rs. 6000. Since the loan is short-term, the interest rates are low.
Instant Cash in Savings Account
In a few minutes, the cash is transferred to your savings account. You are also eligible for an instant cash loan on aadhar card. The application process is hassle-free, and you can get low-interest short-term loans.
The loan can be easily repaid through the app using a bank transfer. If you pay your loans on time, you improve your credit score.
Emergencies will occur, but they should not disrupt your life. You don’t need to worry about high-interest or complicated documentation with instant cash loans. Apply for these loans using your mobile phone, no need to visit your bank for this. Make sure you repay your loans on time and improve your credit score. Instant loans mean instant happiness for you. Whatever the emergency, there is a loan for it.