Instant Personal Loans
In a life full of uncertainties one can encounter a financial emergency at any time. There are situations when we have to run from pillars to post seeking financial assistance. In such a situation, every second count and getting financial assistance on time can make everything fall in place. An Instant personal loan is such a facility that helps you get money within no time. Instant personal loans are widely available with most of the money lenders and are easy to avail. It comes with no end-use restriction and can be applied and availed from the comfort of your home or office. This loan is perfect to take when you are in the middle of any financial urgency, be it a health emergency or an urgent bill payment.
Instant personal loans are unsecured and hence you can opt for it without pledging any collateral or security. The loan is 100% online, which reduces the stress of going to the bank and completing the tons of paperwork.
There are several banks, NBFCs and DSAs offering online personal loan facilities. This wide availability from several lenders provides options to compare with and choose the one as per your requirements & preferences.
Here are the top-banks offering instant personal loan
State Bank of India
SBI offers instant personal loans to salaried employees at quite affordable rates. Whether it’s your wedding, a planned vacation or an unplanned emergency, SBI provides quick approval and instant disbursal of an insta personal loan application through their SBI’s Xpress Credit Personal Loan.
- The loan is offered only for those who have a salary account with SBI bank.
- Interest rate starting @9.60 per annum.
- ₹15,000 is the minimum income required for eligibility
- Maximum loan amount up to 20 lakhs.
- Low-interest rates.
- No hidden charges involved.
- Provision for second Loan available.
- No security, no guarantor.
- Interest on daily reducing balance.
- Low processing charges.
- Tenure period ranging from 12 to 72 months.
Axis Bank offers instant personal loans for all your personal needs. You can avail of this loan to fund your dream vacation or to renovate your simple home to turn it into your dream home. You can even opt for an Axis bank personal loan to fund your temporary business needs.
- Loan available for both salaried & self-employed individuals/professionals.
- Fast processing.
- No collateral is needed.
- Minimal documentation required which includes-
- Duly filled application form
- KYC documents
- The duly signed loan agreement
- Hassle-free process
- The minimum net monthly income required to avail the loan is – ₹15,000
ICICI personal loans are the best way to meet your expenses. The loan provides funds in very less time making it one of the best options when in need of urgent funding. A Personal Loan with ICICI bank is the online facility that provides quick access to funds. One more plus point with this loan is- no collateral is required for any loan amount.
- Quick & Easy documentation process.
- Pre-payment & pre-closure facility available.
- The Lock-in period is 12 months.
- Starting at an interest rate of 10.75% per annum.
- Minimal eligibility criteria are required.
- Online loan processing facility.
- No collateral is required.
- EMI calculator is available on the official website which makes it easier to know your estimated EMI.
Finance Buddha is one of the leading DSAs offering Insta Loan facilities to the salaried employees in 180 cities across India. The process is 100% online which makes the entire processing fast. To apply you can visit https://financebuddha.com/insta-loan and fill the online application form. One can avail of an instant loan online ranging from ₹50,000 to ₹50 Lakhs without any physical paperwork.
- 100% Paperless processing
- Get Instant eApproval in just 2 hours
- Fast processing
- Loan Amount Starting from ₹50,000 and can go up to ₹5,000,000 (depending on the applicant’s profile)
- Tenure period ranging from 12 months to 60 months
- Interest Rate Starting from 10.5% p.a
- Enjoy a hassle-free processing
- Documents required are-
- PAN Card Copy
- AADHAAR Card Copy
- Government Issued ID Card
- 3 Months Bank Account Statement
- Latest Electricity/Telephone/Credit Card Bill
- Passport/House Lease Agreement
HDFC has been among the most reputed banks in India and it is trusted by a large number of people for its services. Instant personal loans are one of such services for which HDFC bank has been known for. Instant loan by HDFC is the same as a personal loan but comes along with some added benefits such as fast disbursal and pre-approved facilities for the existing users.
- Online personal loan facilities are available.
- Pre-approved facility for the existing users.
- Disbursal within minutes.
- No collateral is required.
- Hassle-free processing.
- Pocket-friendly interest rates.
- Flexible tenure available to suit your requirements.
- Minimal eligibility criteria to be fulfilled.
But, before you apply for a personal loan, ensure you meet all the checklist (eligibility criteria for a hassle-free approval). Remember comparing offers from different lenders based on your eligibility can also help you to get the best deal. Also, don’t forget to check for processing fees, late payment charges, and prepayment and part-prepayment penalties before finalizing your lender/bank. Never borrow more than your requirement and don’t ignore your repayment capability before you enter your loan amount. Just because personal loans are easily available it doesn’t mean that you can borrow any amount.