Picture this scenario. It is the end of the month, and some unexpected expenses crop out of nowhere. The clock is ticking, but you do not have enough funds to meet your financial requirements. You are left with no option but to borrow money from the bank. In such situations, your friends and family have your back.
However, applying for an Instant Personal Loan will provide a guaranteed support system for financial assistance. Whether you need cash for a last-minute trip or a medical emergency, it will cater to your requirements quickly. It refers to funds borrowed from banks to meet your unplanned expenses. Usually, these are unsecured, which means you need not provide collateral like gold, jewellery, or shares as security against the borrowed sum.
How does it work?
Different banks have varying application processes. You need to visit the Instant Loans section online and submit basic information, such as your name, email address, phone number, PAN Card details, etc. After completing it, the bank will assess your credit profile and information to calculate eligibility.
If you fit in, you can get low interest on Personal Loans. You need to accept the offer to receive the amount in your Bank Account, which can take up to a few hours or a day. You can use it anywhere and repay it with interest according to your tenure.
Features of Instant Loans
Every individual who needs an Instant Loan has diverse financial requirements, credit history, and bank balance. With numerous options available in the market offline and online, credit facilities are accessible to everyone. Here are some features:
- No collateral
When you apply for Instant Loans, you need not provide any security against the borrowed amount, as it is usually unsecured.
- Easy application process
You can complete your application in less than five minutes without uploading documents or paperwork. All you need to do is submit your basic information, such as your name, contact details, email address, etc.
- Instant approval
After completing your application, you can get approved for a Personal Loan up to Rs. 4 lakh in 30 seconds.
- Quick disbursement
After you accept your Loan offer, the bank will disburse the Loan amount directly in your registered Bank Account within 24 hours.
- Flexible repayment tenure
Repaying your Instant Personal Loan to the bank is as simple as borrowing it. With multiple repayment options, you can choose a tenure of three, six, nine, and 12 EMIs.
- Affordable interest rates
The interest rate you are charged on a Personal Loan depends on many factors, such as your credit score, monthly income, repayment history, etc. The bank offers an interest rate starting from 11.25% per annum.
An Instant Loan is a bridge between you and your financial requirements. No matter your situation, you can always get instant access to money.
