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Insta Personal Loan: Know All About How to Apply, Eligibility and Documents Required

Today most financial services are available at the fingertips. Hence the trend of digital instant cash loans is increasing. These are short term loans which are like pre-approved personal loans and are easily available. Not only this, one can apply for instant cash loans instantly and the documentation is also minimal. These are the features that save time in loan processing and the lending company allows quick and easy transfer of money to your account. And then the ability to take the loan is easy that’s why the instant cash loan is so preferred.

Not only this, the instant cash loan for salaried customers is collateral-free and there is no restriction on the usage of the amount. These special features make this loan a viable option for meeting short term goals or urgent needs. Read on to know all about the eligibility, documents and how to apply for an instant personal loan.

Required Qualification and Documentation

Just like personal loans, instant cash loans are also available to everyone provided they have the required qualifications. Lenders may have different eligibility criteria, but most companies work on certain eligibility criteria which are:

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  • The applicant should be a citizen of the country of India and a resident of the country
  • Applicant’s age should be between 21 to 67 years
  • The applicant should meet the income criteria based on the city of his residence

It is also important for you to know that some loan companies give instant cash loans to salaried people or even to self-employed people despite having low credit score. Eligibility information will be available on the company’s website. Apply for an instant loan and get the loan you need only after verifying that you meet the eligibility criteria. Seeing this, if you apply for a loan, then there will be no disappointment of being rejected.

Like the eligibility criteria, the document requirements may also vary according to the lending companies and depending on the type of application. However, for identity verification and application verification, companies generally ask for the following documents:

  • Address Proof: Utility Bill, Passport, Aadhar Card
  • Identity Proof: PAN Card, Driving License, Passport
  • Income proof: Salary slip or bank account statement

While applying for instant cash loan on salary or do-it-yourself loan, keep the required documents ready so that the application process will be completed in a jiffy. Therefore, it is important to visit the company website and understand all the details including the loan terms and conditions before applying. This will save time and help you choose a loan company with ease.

How to Apply for Instant Cash Loan

Applying for an instant cash loan is very easy. First of all, meet the eligibility criteria and then keep the required documents ready, then the work of applying online will be done in a pinch. The loan amount can be sanctioned within a few hours. Given below are the steps to apply for an instant cash loan:

  • Visit the website of the lender and find the option of Instant Cash Loan
  • Click on apply and fill the required details
  • Select the amount required in the loan and also choose the repayment tenure
  • Complete the application by clicking on submit

After you apply, a representative of the loan company will get in touch with you based on the loan amount, type of application and processing time. In the modern digital system, the finance service companies now offer the facility of mobile applications. This gives a better experience to the customer. For example, with this one app you can apply and make EMI payments and keep a close watch.

Digitization has also made it easier to avail services like instant cash loans. However, it is important to be very careful and choose the right company for the loan. Salary or self-employed people, before applying for an instant loan, must consider certain aspects such as interest rate, maturity period, processing fee and other related charges. With this, you will be able to make better decisions by estimating the expenditure and will be able to save at every step.

Bajaj Finserv has a good reputation among the various companies offering instant cash loans. It is an NBFC that caters to the needs of the people by giving Insta Personal Loan. Existing customers of the company can easily avail loans up to Rs.10 lakh under the Bajaj Finserv Insta Personal Loan offer. There will be nominal charges and the interest rate will also be low. And then you can get up to 60 months to repay. Not only this, there is no hidden cost involved in taking this loan and there is also the pleasure of getting the total amount in just 30 minutes*. So act wisely and take a step in the right direction today. All you have to do is check your Insta personal loan offer online.

*Only for select customers.

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