Many digital platforms provide instant personal loans for business and professionals. The loans range from Rs. 1000, and the repayment tenure is also very flexible; that is, it goes up to a few months, which varies depending on the loan amount. The interest rate charged is from 0% to 29.88% p.a. and is set on the personal loans that are availed.
Also, numerous Non-Banking Financial Companies provide financing services to the users. Some of the Loan Products offered by the platform include Flexi Personal Loan, Personal Loan for Salaried, and Online Purchase Loan. Additionally, instant personal loan disbursals have minimal documentation requirements.
The operations about getting an instant personal loan are done through the online portal systematically by offering personal loans to customers, which are of different financing quantum and loan durations. Some of them are application-based, meaning that loans can be availed only after downloading the app from Google Play Store. The application needs a registration procedure which may be done through Facebook or Google, which is then verified; after that, users can start applying for loans.
Steps to Apply for the Flexi Personal Loan:
- Install the online application.
- Create an account using Facebook and confirm all the basic details like name, email address, and mobile number.
- Enter the details relating to Aadhar or Voter ID or Passport and PAN carefully and provide details like date of birth, monthly salary, and PIN code to check the eligibility requirements.
- Upload KYC documents like address, contact details, and marital status.
- Help out with the bank account details.
- After completing the verification process, the loan will get disbursed in 15 minutes.
Steps to Apply for a Personal Loan for Salaried Class:
- Install the online application.
- Create an account using Facebook and confirm all the basic details like name, email address, and mobile number.
- Enter the details relating to Aadhar or Voter ID or Passport and PAN carefully and provide information like date of birth, monthly salary, and PIN code for checking the eligibility requirements.
- Provide the company details.
- Provide the Salary Account Statement Proof, bank account details, and e-signature through the phone.
- After completing the verification process, the loan will get disbursed in 15 minutes.
Documents Needed:
- Salary Proof
- Employment Proof
- Other KYC-related documents, as mentioned by the lender
Key Features and Advantages of Availing the Instant Loan Through the Online Portal:
- Fast loan disbursal
- Huge Financing Amount
- No collateral requirements
- Less documentation needed
- The application is compatible to be installed on all Android phones
- No requirement to submit documents every time a user makes a loan application
- Repayments can be made through several platforms
- New borrowers with no credit history can also be eligible for application.
Availing of instant personal loans with the help of an online loan app has become immensely easier and quicker since the funds get disbursed to the users’ accounts. Millions of customers are getting the benefits of instant personal loans across the country as per their needs and preferences and solving the financial inclusion gap in the diverse demographic sections of the country.
