Instant Loan Online in 2 Hours

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Quick, Simple & Easy to Apply. Disbursal in 2 Hours. 100% Online Process.

How much would you like to borrow?

Choose an amount between ₹50,000 and ₹5,000,000.

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Insta Loan Details

InstitutionMinimum Loan AmountMaximum Loan AmountMinimum TenureMaximum TenureAPRFees & Charges
Finance Buddha₹50,000₹5,000,00012 months60 months10.5% - 24%Processing Fee - 1.50% to 2.00% + Service Taxes
THIS IS WHAT YOU GET WHEN YOU APPLY WITH US
  • A 100% Paperless Personal Loan Experience
  • Instant eApproval
  • Loan Amount Starting from ₹50,000 up to ₹5,000,000
  • Repayable in a Tenure of 12 months to 60 months
  • Interest Rate Starting from 10.5% p.a
A QUICK TIP, JUST BEFORE YOU APPLY
  • Your Age should be 25 years to 60 years
  • Your Income should be at least ₹400,000 p.a.
  • You should have been Employed fulltime for at least 2 years
  • You should be residing in any of these cities:
DOCUMENTS YOU WOULD NEED TO UPLOAD WHILE APPLYING
  • PAN Card Copy
  • AADHAAR Card Copy
  • Government Issued ID Card
  • 3 Months Bank Account Statement
  • Latest Electricity/Telephone/Credit Card Bill
  • A Valid Passport/House Lease Agreement
THE SMART WAY TO BORROW IS HERE
  • Get Instant eApproval
  • 100% Online Process
  • No Physical Documents Required
  • Loan Disbursal in 2 Hours
  • Lowest Interest Rates starting @10.5%
  • Avail Personal Loan from ₹50,000 to ₹5,000,000
  • Tenure From 12 to 60 Months
  • Custom Loan Offers to Employees of Top Companies
WHY INSTA LOAN?
  • Lending Driven by Data & Algorithm
  • Custom Borrowing Solutions
  • Seamless & Streamlined Digital Borrowing Experience
  • No Origination Fee
  • 24/7 Customer Support

Your Search for Instant personal loan ends here

Insta Loan Apply Details

Finance Buddha Insta Loan

Are you concerned about where to apply for an instant loan online? Confused about how to get an instant personal loan? Tired of heavy documentation, want to get an instant loan without documents?

It’s time to explore what Finance Buddha Insta Loan can offer to you. In an emergency every second count. And, getting money in a hassle-free manner will be the need of the time.

As an applicant, you have to fill the easy online application form and apply online. Finance Buddha Insta Loan is an instant loan and offers disbursal within 2 hours. Furthermore, it is one of the fastest online loans you can get in India.

Our Instant Loan process takes 2 Hours from application to disbursal!

We have brought together experts in the banking sector. They have top-notch competence in loan management, and time management skills. Hence we deliver you high-quality services through our online loans facility.

As such, Finance Buddha can assist all individuals with their instant personal loan application.

Due to the high demand for online loans, we have extended our services to this stream. This is to make sure we provide more and more opportunity for those who are keen to take loans for any emergencies. Make use of our online loan service and get loan in one day.

Instant Loan Details

  • Interest Rate: 10.89% to 36.00%
  • Loan Tenure: 12 months to 60 months
  • Age: 23 years to 58 years (at the time of loan maturity)
  • Minimum Loan Amount: ₹50,000
  • Maximum Loan Amount: ₹5,000,000
  • Processing Fee: 1.50% to 2.00% + GST as applicable
  • Lock-in Period: 6 months
  • Prepayment / Pre-closure Charges: Up to 5% per annum of the principal outstanding plus service tax

Instant Loans: A New Era in Banking

The year 2017 witnessed many changes in many fields and Instant Loan is such one among other changes. This loan is the change, which was need of the time.

Ever since the start of banking, the process to apply for a personal loan has been a lengthy process followed with lots of stress, tension and time consumption too. Because of all these reasons, it was very important to introduce a new kind of lending instrument which would be easier for the people to avail.

An Instant Loan is a solution to all the above problems and a new age in the domain of lending.

How does Instant Loan from Finance Buddha works?

If you want to avail an instant personal loan, visit the Finance Buddha website. Fill the application form above online and submit. After the form's submission, the applicant's details will get scrutinized using our algorithm. Hence, saving both the time and effort. Soon after verification, we will let you know if you are eligible for an instant personal loan. And finally, your online loan application will get processed and disbursed within 2 hours, same day. This makes our Insta Loan the best online loan for those who want an urgent personal loan.

The 5 simple steps are:

  1. Apply for instant personal loan online.
  2. Get advice on your best offer.
  3. Complete the documentation required.
  4. ESigning of Loan Agreement.
  5. Loan Disbursal.

Purposes to avail an Instant Loan

Whatever be your emergency, we are here to help!

Few incidents in life leave you with not many options. In a situation like where all your advance preparations might also not be enough. If you are in such a need, Finance Buddha’s Instant Loan will help you overcome in a quick, efficient and hassle-free manner.

Our instant loans can be availed for different emergency situations. The money borrowed through an instant loan is available immediately. We do not require any physical documentation for processing this loan. As all need required documents have to be uploaded online.

  1. Medical Emergencies
  2. Urgent Travel
  3. Wedding Expenses
  4. A quick need of fund for Bail
  5. Business Cash Requirements

1. Medical Emergencies

Life is Unpredictable! Nobody ever knows what might happen the next instant, so unsure are we about our lives. Accidents can happen to anyone anytime.

Such situations require quick response and immediate treatment and every second count! And you would not want to spare any expenses whether for yourself or your near and dear ones.

Nowadays even medical expenses are also soaring high, so much so that sometimes even medical insurance and emergency savings combined cannot cover the total expenses. An instant loan in one day is definitely your savior in such times which minimizes the effects.

Finance Buddha understands the urgent need, which arises in medical emergencies. Finance Buddha and its team do its best when such a requirement arises. This is a completely online loan process hence you do not need to visit any of our branches or arrange for the hard copy of the documents. You just need to fill in the application form online and upload all the required documents. And that is it.

In the cases of emergency, Finance Buddha will always be by your side.

2. Urgent Travel

You can now avail Finance Buddha’s Instant Loan to meet your urgent travel expenses.

Whether it is to a destination in India or abroad, whether it is for a personal reason or a business deal, or any medical requirement, Finance Buddha has got you covered. Just apply online. And, then upload your required documents.

We work hard to ensure that you get instant loan approval and the disbursal happens on the same day, within 2 hours of approval (provided that you are eligible).

3. Wedding Expenses

The wedding is one of the most important events, if not the most important event in anybody’s life. As such everybody wants their wedding to be a dream wedding. But the conversion of the dream to reality comes at a price.

Sometimes unexpected may happen and leave you in a cash crunch, unable to meet the need of the hour. In many instances, it might not be possible to cut down the expenses.

Wedding expenses do not include just the cost of the main wedding function, but also things like pieces of jewelry, clothes, gifts, engagement, reception, and honeymoon. The price for all these is normally much more than what a middle-class income group can afford to spend.

Use our same day loans facility, whenever you need immediate cash loans in India from Finance Buddha. This is an entirely online loan process.

Online loans make sense for weddings as these are very convenient to apply for, especially for weddings, when you are in a shortage of time.

4. A Quick Need of Fund for Bail

You are innocent until proven guilty and sometimes, you might not be guilty at all. And sometimes, it might not be you but someone who is very near and dear to you.

But, the police need to follow rules set by our lawmakers, and the bail amounts can be high (depending on the charges) and might not be possible for everyone to have that much money available to them at their disposal. But you can have it in 2 hours with Finance Buddha’s Instant Loans.

We understand that emergencies like an arrest can affect you and your family severely. Hence we have made instant loan process 100% online wherein you can apply online anytime from anywhere. As soon as we have everything we need, your loan processing starts and based on your eligibility criteria your application is approved and disbursed within 2 hours.

5. Business Requirements

It never remains sunny throughout the year! All the business owners know and understand this very well. Urgent situations demand speedy solutions. Finance Buddha is here with its Instant Loan to cover you in that rainy season.

Our, Instant Loan is a completely online product where you get instant eApproval and disbursal within next 2 hours, should you satisfy all the eligibility criteria for the same. Thus, the process is quick and hassle-free.

Features & Benefits of Instant Loans

Here are some of the features and benefits of instant loans from Finance Buddha.

Loan Amount starting from ₹50,000 and up to ₹5,000,000.

Not everybody’s need is the same. It varies from individual to individual, depending on the situation they are facing. Hence, we offer a wide range of loan amount. The loan starts from ₹50,000 and goes up to 5,000,000 to have you covered in the times of need.

Loan Tenure up to 5 years.

An emergency situation can arise anytime. And, the only solution out might be an instant personal loan. But that does not mean that you have to carry the burden of an one-time need for a long period of time. The tenure for Instant Loans is 5 years so that you do not remain overburdened with the loan for a long period of time.

No Physical Documents Required.

Desperate times need desperate measures. Emergencies may not leave enough time to arrange all the paperwork required for a personal loan.

Hence we created a completely online process. Here, you can upload all the documents required from your computer, mobile or tablet. Hence, saving you a lot of time to focus on other important things.

Quick Processing of Loan.

Finance Buddha Instant Loan offers instant eApproval and disbursal within 2 hours. Within seconds you will get to know the status of your instant loan status.

As the process is online, we will have all the required information with the loan application.

Then our proprietary algorithm runs in the background to decide your eligibility. The amount gets credited to the applicant’s account after final approval.

The loan amount will get disbursed after you accept the offer letter and sign the loan agreement.

Interest rate starts from 10.5%.

Our instant loan interest rate is same as that of conventional personal loans. As such, instant loans are personal loans sans paperwork.

Same Day Loan

As soon as all the information provided by you is verified and all the steps required have been completed, you will receive the loan amount instantly in your account.

An ideal option in case of Emergencies.

Our instant loan offers a completely online, quick and hassle-free process. We strive to complete the process in under 2 hours. As, such you get personal loan in one day, the same day you apply for it.

This makes the instant loans the preferred option for emergency scenarios where there is an urgent need of money.

Available in all major Indian Cities.

You can avail Instant Loan in any of the 180 cities in India, such as: Agra, Ahmedabad, Amritsar, Aurangabad, Bangalore, Baroda, Bhubaneswar, Bhopal, Chandigarh, Chennai, Cochin, Coimbatore, Dehradun, New Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad, Indore, Jaipur, Jamshedpur, Kanpur, Karnal, Kolhapur, Kolkata, Lucknow, Ludhiana, Madurai, Mumbai, Mohali, Nasik, Nellore, Noida, Pondicherry, Pune, Rohtak, Salem, Satara, Surat, Thane, Tiruchirappalli (Trichy), Vijayawada and Visakhapatnam (Vizag).

What makes Instant Loan Handy?

An instant loan is popular among the borrowers as it is one of the simplest ways to the needed fund. There are a number of reasons which make instant loan handy.

Online Application

The online application feature enables you to apply for a loan on the go. You can apply for a loan while being in office, relaxing on your sofa, while in travel or from outstations too. The flexibility makes this product popular among busy professionals.

Quick Disbursal

The Instant loan takes just 2 hours to get disbursed. If all the data you have provided to us is correct, it takes just 2 hours to get the loan amount in your bank account.

The fast disbursal has made an instant loan best tool to fight financial emergencies.

Minimal Documentation

One just needs to submit the basic documents like address proof, ID proof, and income proof to get the loan sanction. Moreover, you can share the soft copies of the needful documents which makes the loan processing much faster and smoother.

Instant Loan Eligibility Criteria

Eligibility Criteria

Salaried

Self-employed Professionals

Age (Min-Max)

25-60

25-60

Income

₹400,000

₹600,000

Employment

Fulltime with at least 2 years of experience

At least 5 years of earning turnover

Documents Required

3 months Bank Account Statement/ Latest Electricity Bill/ Latest Telephone Bill/ Latest Credit Card Bill/ Employers letter certifying current mailing address/Passport(Valid)- provided the passport address is present address mentioned in application form / Existing Registered House Lease/ Government I-card with photo

3 months Bank Account Statement/ Latest Electricity Bill/ Latest Telephone Bill/ Latest Credit Card Bill/ Employers letter certifying current mailing address/Passport(Valid)

Eligibility basically means ‘Fit to be chosen’. That implies are you worthy for which you are applying. An instant personal loan is generally availed in the case of emergencies.

Finance Buddha's instant loans are an unsecured loan. Hence it becomes more important to check the eligibility of the borrower before the loan disbursal to determine the repayment capability. This is a big point to consider.

There are many factors on which your loan eligibility will depend.

Factors which determine Instant Loan Eligibility

Age

The younger you are more is your probability of getting a loan.

When you are young the bank or any financial organization thinks you are more capable of repaying the loan. To avail instant loan the applicant's age should be between 25 to 65 years.

Income

Your income is the most important factor on which your Instant Loan eligibility depends. The more you earn, the more is the possibility of timely repayments.

In the case of our instant loan, if you are a salaried person your yearly minimum income should be ₹400,000. And, if you are a self-employed person your minimum income should be ₹600,000.

Employment

Employment stability is also an important factor on which your eligibility depends. A salaried person should have at least 2 years of full-time work experience in the current profession. And the self-employed individuals should have at least 5 years of earning turnover.

Credit Rating/CIBIL Score

Your credit rating holds a lot of value. It reflects your financial borrowing history and your repayments history too.

If your credit score is high your probability of getting a loan is more. Generally, a credit score of 750 is considered good. With a CIBIL score of less than 750 the chance to get approved is less. And in some case, you may get the loan but then your interest rate will be higher.

Employer

The employer with whom the borrower is working with is the most ideal approach to gauge the credit-worthiness of the candidate. Being a piece of high turnover organizations is an advantage with regards to applying for the loan.

How to be eligible for an instant loan all the time?

Our instant loan is the fastest financing solution in urgent times. To avail, the Instant Loan facility one has to be eligible as per the eligibility criteria mentioned above. Failure to meet eligibility criteria will result in rejection of the online personal loan application.

Excellent Credit Rating/CIBIL Score

To avail an Instant Loan, the applicant should have a minimum CIBIL Score of 750.

CIBIL Score is the reflection of your borrowing and repayment history. A good CIBIL Score implies a good mixture of secured and unsecured loans and regular and timely repayments. An applicant with good CIBIL Score stands out as a creditworthy borrower, who will be regular with the repayments.

So, be regular with your existing repayments, if you have not been so far, or continue it if have been already. This will help to improve CIBIL Score and will also help in availing any loan in the future, not just our instant loans.

Required Minimum Monthly Income

To repay any loan in EMIs, one should have a sufficient income that even after paying for the EMI. There should be enough left for other necessities such as rent, food, bills, clothes, and transportation. In general, the ratio of the total monthly EMIs should not exceed 35% of the monthly income. Even in high-income range, fixed monthly obligations should not be in excess of 60% of in-hand monthly income.

Whatever be your salary range, if your FOIR is higher, it would be a good idea to either: lower your existing EMIs with a balance transfer loan or find an additional source of income. This will increase the chances of instant loan approval in the future if the need be.

Employer

Salaried Employees of top-notch companies and MNCs have a secure and stable future and hence employment. In contrast, small and medium companies, proprietorship and start-ups do not have a secure future. There is always a risk involved. These start-ups can shut-down anytime, jeopardizing their employees financial future.

Any lender will always prefer an employee of an MNC over an employee employed with a start-up. Also, the employees of top companies get additional relaxation in the rack interest rates of any loan.

Job Stability

Another important factor considered is job stability. It becomes for any lender to gauge an applicant’s eligibility if they have a stable and continuous career. This helps the lender to analyze the financial condition of the applicant and their repayment capability.

While an applicant with multiple job changes and employment gaps cannot be trusted with any loan, as their income is neither stable nor guaranteed. In such a condition it is tough to decide whether such applicants would be regular with their repayments or not. Hence a natural inclination of any lender would be to decline the application from such applicants.

Documents Required for an Instant Loan

Finance Buddha Instant Loan is an instant loan without documents. This means that no physical documents are required at all. And instead, digital versions of all the required documents are to be uploaded through the mobile app.

Along with meeting the eligibility criteria, you will still require to submit some documents so that we can confirm your identity along with other criteria. This is compulsory, and the below documents should be furnished upon request.

Document Type

Individuals

Firms, Partnerships

Identity Proof

PAN card, Passport, Driving License, Aadhaar Card, Voter ID, Govt. issued ID-card

PAN card, Passport, Driving License, Aadhaar Card, Voter ID, Govt. issued ID-card

Certificate and Proof of Business Existence

Not applicable

PAN , sales tax/ excise/ VAT/ service tax registration, Copy of partnership deed, Trade license, certificate of practice, registration certificate issued by RBI, SEBI

Address Proof

Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill

Bank statement, utility bill, Registry copy, lease or rent agreement, TAN allotment letter

Income Proof

Bank statement (not more than 3 months old)

Bank statement (not more than 3 months old)

Age Proof

PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate

PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate

Paperless Personal Loans: Digital Banking is the Convention

Paperless Personal Loans can help you get a loan within a very short duration of time, without having to deal with any paperwork as the process is 100% online from start to finish.

With such loans you don’t have to spend hours going bank, standing in the bank’s queue. This loan makes you free from the traditional lending process where you have to spend your time in collecting and piling up the documents required.

A paperless loan is a completely online process, where your loan is just a click away. You don’t have to submit any document physically. All you need to do is to just fill the details required. Only a few documents such as ID and address proof are required which is to be submitted online by scanning and uploading them online.

The ease and flexibility in the application method have made them a popular debt instrument among the masses.

Paperless loans provide flexibility and comfort in the borrowing process. People who are already occupied with one or the other thing can now apply for loans as per their comfort.

Paperless loans are unsecured loans where no collateral or security is required. Also, the loan amount can be used for any personal purpose as per the need and wish of the borrower. It’s fast processing and quick disbursal is another reason for which makes it a go-to product when the money is required immediately.

Instant Loan Tenure, Loan Amount & Interest Rates

The tenure of an instant loan is up to 5 years.

The interest rate is a profit a lender charges against their lending annually. Normally if the borrower is at low risk i.e. the lender finds it that they can easily repay the loan, then the interest rate is low. And if the lender finds that the borrower it at high risk then they charge a high-interest rate to them.

There are many factors which decide the interest rate of instant loans.

Factors that Decide the Interest Rate

Required Loan Amount and Income of the applicant

Suppose a person has a yearly income of ₹400,000 & applies for a loan of ₹600,000 and a tenure of 2 years. Then for the lender, it is a risky case as in this case there is more possibility of default. To be on the safe side the lender will charge more interest rate. So for the interest rate, the loan amount and individual income play a very important role.

Loan Tenure

Tenure period is also one of the important factors which play an important role in determining the interest rate. If the tenure is shorter, higher will be the interest rate and vice-versa.

Credit Rating

Each and every lender or financial institution checks your credit score when you apply for a loan. The credit score always reflects your present as well as past financial borrowing history and your repayments as well. A low credit score means that monthly repayments regarding any of the previous loans were not on time. Whereas, a good credit score of 750+ indicates that the borrower is good and has been timely with the repayments.

Fees and Charges Applicable

The other fees charged for instant loan are:-

Processing Fees

Every borrower has to pay the processing fees. Processing fees are a charge that passes on expenses to the borrowers. The expenses include documentation, evaluations, work, and record of loan repayment, or some other data essential for the lender's endorsing office. This is a non-refundable. The processing charge for Instant Loan is 1.50% to 2.00% of the loan amount in addition to service taxes.

Part-payment and prepayment charges

In the case of Instant loan Finance Buddha also provides part payment and part prepayment options. But terms and conditions apply. This charge depends on many factors such as the principal loan amount, the outstanding amount, monthly EMIs and so on.

Delayed Payment Charges

There is always a penalty charge for the delay in payments. Instant Loan has some penalty charges for delay in payment this depends on the outstanding loan amount with us. This late payment doesn’t lead to penalty only but it leads to a bad credit score as well. This can affect you in the future when you will apply for some other loan. To avoid these charges and difficulties you should also pay EMIs regarding any kind of loan on time.

Tenure is also considered for instant loan's interest rates.

Understanding the Loan EMI

Let us understand this with an Example: You take a personal loan of ₹300,000, for a tenure of 3 years, offered at an interest rate of 10.5% on a reducing principal and you are charged a processing fee of 2.5% which you can give directly at the time of loan processing or that it will be deducted from your loan amount when sanctioned.

EMI of the loan will cost you ₹9,751 per month

Total payable amount in 3 years (Principal + Interest) = 36 * ₹9,751 = ₹351,036

Total Interest paid in 3 years = ₹51,036, hence, annual interest paid = ₹17,012.

Advantages of Instant Loans

The advantages of Finance Buddha's Insta Loan can be summed up as below.

Apply without Documents

One does not needs to provide any physical documents when applying online. Just upload the scanned or digital copies of all the required documents and upload them through the mobile app.

Fastest Processing

Applying for a loan online makes the process much faster. Online loan applications are processed through algorithms. Hence, it takes much less time as compared to manual processing.

Hassle Free Application

Applying is very easy as you never need to visit the lender's office. You can apply for a loan while being in your office or relaxing at home.

Online Tracking

An online loan gives the convenience of tracking the application. As soon as you apply for a loan, the lender will provide you with a login ID. You can log into your loan account and check the progress of the application at any time.

Service Round the Clock

We provide you a 24X7 service. Unlike a traditional loan application where you must abide by the timings of the bank’s functioning hours, an online loan can be applied any time and any day, even on bank holidays.

Why apply for Finance Buddha Instant Loan?

While there are many ways to apply for a loan, many still prefer to apply for a loan online through Finance Buddha, the reason for this is pretty simple and straight forward.

In case of emergencies situations, nobody will have time to run to banks and financial institutions to get the application form, apply for the same, submit documents and wait for approval. All the services will be taken over by Finance Buddha.

Just visit Finance Buddha platform, apply for the instant loan by filling all necessary information and get instant loan approval and disbursal within the same day.

The Finance Buddha Advantage

Finance Buddha’s Instant Loans are essentially 100% online loans, where all the steps involved are done online both on the applicant’s side and the lender’s side. The applicant has to just apply online, upload the documents as well as the eSign the loan agreement.

The application is processed as soon as it is received.

Finance Buddha’s proprietary algorithm works in the background to determine the eligibility of the applicant and find the best offer available if eligible, post which the application gets approved.

The removal of the human element from the approval process significantly improves the time involved, reducing it to a maximum of 2 hours. We use our proprietary algorithm to scrutinize all the received documents to verify their authenticity. As soon as the processing is over, the applicant receives the confirmation and the disbursal of loan amount soon after.

Taking the loan process completely online has not only reduced the time but has made the application process more streamlined, easy and completely hassle-free. There is no need for any physical visits or documents as the process is completely online throughout. As a result of the availability of online loans to more and more people. Finance Buddha’s online loans provide the comfort and freedom to apply from a place of their comfort at a time of their choice.

The availability of loans (to eligible applicants) within 2 hours of applying makes instant loans ideal for those who are in urgent need of money. This loan is also ideal for those who don't have time and means to go through a conventional loan process. Hence, don't wait and apply for loan online today.

Instant Loan: 4 Points to Consider before Applying

Instant Personal Loans, even though handy in times of need, are still a loan, the burden of which you would need to bear throughout the tenor of the loan

  1. CIBIL Score and Repayment History: Instant Loan requires that the applicant should have a CIBIL score of more than 750. CIBIL Score denotes a person’s credit usage and repayment history. The better a person has utilized their loan and credit card facilities, i.e. have not remained overburdened with multiple loans, did not have a history of revolving credit and a record of timely repayments without defaulting on any payments will have a high CIBIL Score, in comparison to a person who has failed to achieve this. A good CIBIL Score (750+) denotes that an applicant is credit-worthy and if allotted the loan, will be timely with the repayments.

Hence before you apply for an instant personal loan, it would be a good idea to be aware of your CIBIL Score. There are chances based on the discretion of the lender that even an applicant with low CIBIL Score can also get loans online, but they would get it at the higher interest rates.

  1. Interest Rate: Even though the interest rate offered will depend on multiple criteria, it has a direct impact on the EMIs. The higher the interest rate, the higher would be monthly instalments. High monthly instalments can leave you short of the money required every month for the necessities, hence disrupting your budget. If you feel that the offered interest rate and the EMI is higher than that you can afford, it will be better to look for an alternate option.

Hence be sure of the interest rate and the EMI before you sign the loan agreement so that your budget does not get affected negatively.

  1. The Need for It: Finance Buddha’s Instant Loan is offered at an interest rate higher than the conventional bank loans. Hence the reason for availing the loan should be justified. If it is an urgent need, and immediate cash is required, then it makes complete sense to avail an Instant Loan. But, opting for an Instant Loan for shopping, a costly gadget or vacation abroad makes no sense.

Online loans are very helpful in times of need but can be a big burden if availed for unjustified reasons.

  1. Fees & Charges: All loans include a processing fee which gets deducted from the total loan amount before disbursal hence lowering the amount you actually receive. Apart from processing fees, there are charges of late payments and prepayments.

Hence it will be wiser to know these in advance rather than discovering them after the loan has been disbursed.

Quick Tips for Hassle-free Experience

Here are a few tips to make your Instant Loan application hassle free and increase your chances of getting approved the first time itself.

Read the Fine Print

All financial transactions like online loans have a few terms and conditions to which the consumer is obligated should they choose to avail them. These terms and conditions are there to ensure the full repayment of the loan amount and charges that apply to different situations and requirements.

In general, the before the e-signing of the loan agreement, the customer is made aware of the rules, terms, conditions, and charges, but still, it is the responsibility of the borrower to be aware of every detail before they choose to sign the agreement. This saves them from future shocks and surprises and also makes them aware of their responsibility as a borrower.

Choose Your Loan Amount wisely

Finance Buddha provides everyone to choose an instant personal loan amount between ₹50,000 and ₹5,000,000. But this does not imply that everyone should be choosing the maximum loan amount option available.

The choice of instant personal loan amount should be based on first and foremost your exact requirement. Secondly, on your repayment capability and finally your eligibility. Being greedy might result in, excess loan burden than required, a disturbed budget and loan rejection (which has a negative impact on your CIBIL Score).

Check Your Eligibility & EMI

You should always make use of a Personal Loan Eligibility Calculator and Personal Loan EMI Calculator to know in advance, the maximum loan amount you are eligible for and should that loan amount get approved, what will be your EMIs and the charges involved. This will make clear in advance what would be the EMI that you would be paying every month thereon and will help in planning the budget accordingly.

Keep the Required Documents Ready

Keeping your documents ready even before starting the online personal loan application will save you the last minute hassle of arranging documents while applying.

Documents like photographs, bank statement, and address and identification proof can all be saved as PDFs and images on devices like computers, smartphones, and tablets. Having these ready in advance, you can upload them when prompted. This will ensure a break free process of online personal loan application.

Correct Information

Providing the correct and authentic information as requested for loan will ensure that you will get the best offer available for you and will also decrease the chances of your application getting rejected.

Finance Buddha goes to multiple extent to verify and cross verify each piece of information provided by each applicant before approving or disapproving the loan application. Your loan application will get rejected even if single fake or misleading information is provided.

Hence it is in the best interest of both the applicant and us, that the applicant provides online correct, genuine and authentic information.

Tips to avoid Rejection of Instant Loan Application

# Tip No. 1: Check Your Credit Report

The credit report is the first checklist of the lender prior to sanctioning any kind of loan. The credit information companies keep a track of all the credit-related behaviour of any person and based on the same a credit report has been prepared. So, check the credit report before reaching the lender and if there are any flaws make sure that you correct them before reaching the lender.

# Tip No. 2: Find your Credit Score

Along with the credit history, the credit score is also an important criterion to be checked. Your credit score will be considered as excellent if it is more than 750. If the credit score is less than 750, your loan application may get rejected. So before applying for a loan, it is highly recommended to check the credit score.

# Tip No. 3: Avoid Making Multiple Loan Applications

Multiple loan application can create a negative impression of yours. When you apply for a loan with multiple lenders without much gap, it shows your credit hungry behaviour which is a negative remark for the borrower. So keep yourself away from such activities to get instant approval on your loan application.

# Tip No. 4: Your FOIR Should Not Be More Than 50%

The FOIR (Fixed-Obligation-to-Income ratio) is used to find the repayment capacity of the lender. If the total payable of a person including the applied loan is more than 50% of his net monthly income, the lender assumes that the person may default the loan in coming days. So, try to keep your FOIR low before you apply for the loan.

Dos and Don'ts of Instant Loans

Dos:

  1. Check Eligibility: To find the best personal loan offer, one should know first about their eligibility. The interest rate and terms and condition may differ from lender to lender. One must research on lenders available in order to find the best loan offer.
  2. Check Credit Score: Credit score is one of the eligibility criterions of personal loan eligibility. One should check the credit score prior to applying for a personal loan to get an assured instant approval on the application.
  3. Opt for Shorter Tenure: Though longer tenure keeps the loan burden low, it drains much money in interest component. Hence keeping the loan tenure shorter makes the loan a less expensive one.

Don'ts:

  1. Borrow More Than You Can Afford: While borrowing, be assured that you can easily pay off the loan. If you borrow more than your repayment capacity, you may face difficulties in days to come.
  2. Borrow Money for Investment: A personal loan is a multipurpose loan, hence can be used for any of the uses. But one should never borrow money to invest or gamble. As those things carry high risk so taking a risk on borrowed money is never justified.
  3. Miss or Delay EMIs: The repayment of personal loan happens in EMIs. If you are under a loan, make sure that your loan EMI is running at a smooth manner. Defaulting in EMIs not only make you pay a penalty for the same, but it will also adversely impact your credit score.

Unsecured Loans – What should borrowers know?

Unsecured loans are the loans which are not backed by any of the valuables of the loan seekers. An unsecured loan is granted to a borrower based on credit history and the loan repayment capacity. Most of the unsecured loans are multipurpose too. A multipurpose loan can be used for any kind of need of the loan seeker.

Insta loan is an example of an unsecured loan. The eligibility of an unsecured loan depends on several criteria. Prior to granting a loan, lenders do check the income, other financial liabilities, past credit behaviour, credit score, etc. The interest rate of an unsecured loan is slightly higher than secured loans as the risk of NPA is high in case of unsecured loans.

How do Quick Loans work?

A quick loan which is also called instant loan is nothing but a personal loan which is processed entirely online. The processing is done with pre-set computer programmes which make the loan processing faster than one can imagine.

A quick loan is very popular among young professionals because of the quick processing and instant approval. Despite being costlier than a secured loan, quick loans are ruling the credit market just because of the appreciable services provided by FinTech lenders. The lenders have made the loan processing so very simple that, any needy who is eligible for a loan can get the desired amount in his bank account instantly.

The pulling force because of which the lenders can make the processing fast is the internet. Lenders nowadays do the entire loan processing online which saves a lot of time and effort of both the lender and the borrower. If you are eligible for the loan and have submitted the documents properly, it takes just a few minutes to get an e-approval on your loan.

Instant Personal Loans vs Conventional Personal Loans

  1. In online loans, no physical documentation is required whereas in bank loan physical documentations are required at many stages.
  2. Processing and loan disbursal is very fast in online loans which generally takes from 24 to 48 hours. But, in the case of a personal loan the processing takes between 3 to 5 days and depends on the financial institution with which you have applied.
  3. Online loans are the best option in case of emergency situations like a medical emergency, travel emergency or any kind of financial emergency. When you are in an emergency then time matters for you a lot and for that online personal loan is best as it is having quick disbursal. Whereas a loan from a bank can be availed for any personal requirement but for emergencies, we can’t rely on the disbursal speed of the loan.
  4. In online loans, you don't have to visit any place even for a single time. All you need to do is visit the website, from a place of your comfort at your choice of time and with just a few clicks you can apply for loans online. In the event of you providing all the required details correctly and you satisfying the required eligibility criteria, you will have the loan amount disbursed to your account within 2 hours of approval, which by the way also happens online.

Instant Personal Loans vs Pre-approved Loans

  1. Pre-approved loans are only for the existing customers of any lending institution. Whereas for availing FinBud Instant loan no particular bank account is required. The only thing required is you should fulfil the eligibility criteria.
  2. Pre-approved loans require zero documentation as the lending institution already has all the details of the customer, whereas for the Finance Buddha Instant loan there is paperless documentation facility available where one needs to upload the scanned copies of all the required documents.
  3. Pre-approved loans have a pre-determined upper loan amount, which can be less than your requirements whereas in FinBud Instant loan there is no such restriction, you can have a loan from ₹50,000 with the upper limit being decided based on your creditworthiness.

When should you avoid Instant Loan?

Instant Loan is a unsecured loan with very less documentation with quick processing. And everything is online so that the loan disbursal is fast.

Even though it is a product which you should opt for when there is an urgent requirement of money, there are some situations where you should avoid Insta Loan and opt for a conventional personal loan which are offered at comparatively lower interest rates.

Here are a few situations where availing an instant loan is not advisable

If it is not an Emergency

Emergency situations do not include requirements like buying luxury items or gadgets, vehicles, home renovation, covering a big expense like a lavish party, funding a vacation, helping a friend in need etc.

Because of the higher interest rate only it is suggested that opt for this loan only in emergencies when there is immediate requirement of fund. If not so, try to avoid this online loan and go for a loan from a bank.

So, if there is no urgent requirement try to avoid it.

If EMIs can affect your budget in future

Generally people don’t think much in emergency and they go for Insta Loan without thinking much about the future. At that time the only thing they want to get out of emergency whatever the way is at that time the think they will manage somehow but it should be avoided. But it is highly recommendable that you always check for the monthly EMIs that whether you will be able to repay it in the future without affecting your budget.

If you are Financially Unstable

Financially unstable means so far you have not been able to manage your finances properly.

If you are a person who has been repaying your previous loan’s EMIs late, paying penalties on the late payments, not having enough amount left after such payments to continue throughout the month, Insta Loan is not for you. All these are traits show that you are financially unstable and if so, you will be charged with higher interest rate for your loan.

So, even if you manage to secure the loan, your financial woes are not going to end.

For Investment

Investments are made to earn profits/returns on the invested account. Whether it be Equities, Precious Metals or Fixed Deposits or Mutual Funds, whatever it be, Insta Loan is offered at a higher interest rate and no other investment channel will give returns higher than the interest paid on Insta Loan throughout its tenure. Hence any investments made using Insta Loan as the source fund will leave your accounts in losses.

Quick Loan Providers in India

In this present India, the quick loan providers are really many in number. Quick loan lenders include national banks, private banks, and NBFCs.Finance Buddha stands out from the crowd because of its fast processing, dedicated customer support team and instant approval of loans.

INSTANT LOAN FAQs

What is Finance Buddha Instant Loan?

Instant Loan is a quick loan offerring from Finance Buddha. It has a completely online loan process. And, one can apply for instant loan without documents through our website. We offer the benefit of disbursal in 2 Hours.

Are my personal and financial information safe with Finance Buddha?

Finance Buddha’s topmost priority is their customers. We maintain a certain privacy policy for our clients. All your personal and financial information is kept confidential. You need not worry about any of your information being shared anywhere else.

Are pre-payment and part-payment facilities available for Instant Loan?

Yes, prepayments and part-payments are available for Instant Loan, but under there are terms and conditions.

Are there any late fees for the instant loan?

Yes, a late fee is charged for the Instant Loan which will depend upon your Loan amount and Interest rate and so on.

Can I get an instant personal loan with a credit score of 550?

Generally, for getting approved for an instant personal loan you need a credit score of 700+. However, you can also qualify for an instant loan with a credit score of 550, but for this, you need to have good income and good repayment capacity. The interest rate charged in this case may be a bit higher than the normal case with a good credit score.

Can I get an instant loan with bad credit?

No, you cannot get a Loan with bad credit as a bad credit score implies that:

  • You are financially unstable, that is you are not able to manage your finances
  • You have a bad repayment history that is you have not been paying/paid your other loan regularly in the past, hence there are increased chances that you would not be able to repay this loan properly (if sanctioned to you)
  • Your monthly fixed obligations are greater than or equal to 35% of your monthly income

Can you apply for a instant personal loan online?

Yes! You can apply for a personal loan online. The only thing you need to do this is- go online and search for Finance Buddha, you will get the result. Open the website and apply for an Instant Personal Loan.

Does my instant loan eligibility depend on my CIBIL score?

Yes, your Instant Loan eligibility also depends on your CIBIL score. For the approval of your Instant Loan, your CIBIL score should be at least 750. But your final eligibility will depend on other factors too such as your income, your age, and your current location also matter.

 

How do I contact Finance Buddha?

You can contact Finance Buddha at-

Telephone: (080) 4090 9654

Email:

For customer relations: support@financebuddha.com

For others: info@financebuddha.com 

How do I track my loan application status?

For tracking your Loan application Login to your Finance Buddha account using your credentials and go to My Applications tab to see your:

  • Applied Loans
  • Current Loan(s) with their status

You can also download Finance Buddha Android App to see these details and apply for personal loan online.

How is EMI calculated for Instant Loan?

The full form of EMI is Equated Monthly Instalments. It is basically the money which is paid monthly to the banks to repay our Loan amount.

Its calculation depends on various factors such as the Loan amount (principle), the tenor period, and the interest rates.

The formula for calculating EMI is-

[P x R x (1+R) ^n] / [(1+R)^ n-1]

Where p is the principal amount, R is the rate of interest and n is the number of monthly instalments.

How long does an instant loan process take for disbursal?

The time taken by us to disburse a quick loan is 2 hours. But the loan disbursal is not only in the hands of the lender. Many a time, a lender is forced to delay the disbursal because of the issues at loan applicant's end. Let's say the loan applicant submitted the application without completely filling the form or if there are any flaws in the documents submitted, the disbursal time may get extended. If all the data provided by the loan seeker is genuine, it takes just 2 hours to get the loan disbursed.

 

In which cities Instant Loan facility by Finance Buddha available?

Instant Loan facility by Finance Buddha as of now is available in 180 cities across India.

 

Is it safe to avail loan online from Finance Buddha?

Yes, it is definitely safe to borrow from Finance Buddha. All your documents are kept confidential. It is a completely safe and easy process. The transaction is completely private, and all the transactions happen over an encrypted connection so that all the information provided by you remains safe.

Is my loan reported to credit authorities?

Yes, your loan is reported to all the top most leading authorities of INDIA like CIBIL, Equifax and Experian.

Under what conditions can I be denied an instant loan?

You can be denied an Instant Loan if you fail to meet the required eligibility criteria like:-

Age Criteria: If you are a salaried employee and your age is not between 21 to 60 days or you are self-employed and age is not between 25 & 65 then your Instant Loan application can be denied.

Employment Stability: If you are a salaried person and your work experience in the current profession is not more than 2 years, or if you a self-employed and your total tenure of earning is less than 5 years then also your Instant Loan application will be denied.

Credit Score: Your credit rating holds a lot of value. It reflects your financial borrowing history and their repayments. So if you are having a bad credit history then you will be denied for Instant Loan.

Monthly Income: If your monthly income is less than ₹20,000 then also you will be denied an instant loan. 

What are the same day loans?

The same day loans are the personal loans which are disbursed as quickly as one day. The same day loan processing is done online, hence a lot of time and effort can be saved. One can apply for the same day loan from FinTech lenders who are well known for being fast in loan disbursal. Every step of the same day loan is done online. Right from the loan application to loan disbursal, you can do everything regarding the online. Even the documents required and the signature on the loan documents are also done online which make it possible to get the loan amount in the account of the borrower on the same day of applying for the loan.

What are the advantages of applying for loans online through Finance Buddha?

Instant personal loans are available with many banks and NBFCs but there are certain advantages when you apply online with Finance Buddha. These advantages are as follows:

  • No physical documentation is required.
  • Quick processing.
  • It is the best option in case of an emergency.
  • Normal interest rates are provided.
  • Hassle free and smooth processing.
  • You don’t have to visit any bank or even any of our offices.
  • Loan amount starting from ₹50,000 to ₹5,000,000.
  • It can be availed in case of any emergency requirement like medical, vacation, wedding and so on.
  • You can apply for Instant Loan from a place of your comfort at a time of your choice, be it through a personal computer or a mobile device like a smartphone or tablet.

What are the documents required for Instant Loan?

  1. For Salaried Employees
  • Bank Account Statement.
  • Latest Electricity Bill/ Latest Telephone Bill/ Latest Credit Card Bill.
  • Employers letter certifying current mailing address.
  • Passport (Valid) - provided the passport address is present address mentioned in application form.
  • Existing Registered House Lease.
  • Government I-card with a photo.
  1. For Self-employed Individuals
  • Bank Account Statement.
  • Latest Electricity Bill/ Latest Telephone Bill/ Latest Credit Card Bill.
  • Employers letter certifying current mailing address.
  • Passport (Valid)

What are the eligibility criteria for Instant Loan?

The eligibility criteria for Instant Loan are as follows:-

  • Income Criteria

For a salaried person, your yearly income should be minimum ₹400,000.

For self-employed your yearly income should be minimum ₹600,000.

  • Age Criteria

For a salaried individual the age should be 25-60 years.

For self-employed the age should be 25-60 years.

  • Employment Criteria

For a salaried person a full-time job with at least 2 years of work experience.

What are the fees and charges associated with Finance Buddha Instant Loan?

The fee and charges associated with Finance Buddha is

Processing Fee: 1.50% to 2.00% + Service Taxes

What are the interest rates for Finance Buddha Instant Loan?

The interest rate for Finance Buddha Instant Loan varies from 10.5% to 24% per annum.

What are the minimum and maximum tenor for Instant Loan?

The minimum and maximum tenors for Instant Loan are 12 months and 60 months respectively.

What are the purposes for which I can avail an Instant Loan?

Instant Loan can be availed for many emergency conditions some of them, but not limited to just these are:-

  • Medical Emergencies
  • Urgent Travel
  • Wedding Expenses
  • A quick need of fund for Bail
  • Business Cash Requirement.

What happens after I apply for an instant loan online?

Once you apply for instant loan online, our proprietary algorithm will use the details provided by you to determine your eligibility for the requested amount and instantaneously let you know. If you satisfy all the eligibility criteria, you will be sent a link to continue your application process by providing your details and uploading the documents required. Once we receive the details from you, our dedicated team will go through your details and verify all the information provided. Once all this has been done, you will receive a confirmation about your loan details and your loan will be disbursed within 2 hours.

What is Annualised Percentage Rate (APR)?

APR stands for annual percentage rate which refers to the fixed interest rate for the whole year. Not only for a month. That means according to APR your annual interest rate will be fixed which cannot be varied in any of the months. The APR for Finance Buddha Instant Loan varies from 10.5% to 24%.

What is the Instant Loan facility from Finance Buddha?

Instant Loan is the facility provided by Finance Buddha in which you can have the loan disbursal on the same very day you apply for it. It is the quickest disbursed loan ever. It is completely paperless and the whole process is completed online, hence making it 100% essentially online loans. Make use of this online service and get personal loan online today.

What is the minimum and maximum amount that I can get through Instant Loan?

The minimum and maximum amounts that you can get through Instant Loan are:-

Minimum Loan amount – ₹50,000

Maximum Loan amount – ₹5,000,000

What will happen if I miss my Instant Loan repayment?

The company will impose certain ECS bounce charges or penalties. Moreover, it will get mentioned in your credit report. Contingent upon the seriousness of the default it can have a genuine effect on your future credit potential outcomes like a home advance, personal loan and so on. What's more, the banks can likewise make a lawful move against the borrower. Legal actions can also be taken against the borrower by the company.

When can I borrow again through Finance Buddha?

You can borrow anytime again, provided that you still satisfy all the required eligibility criteria for what you have applied.

When is online loan required?

An online loan is a multipurpose loan, so it can be a great fit for any kind of uses. Whether it may be a financial emergency or a need of fund to live your dreams, you can knock the door of a lender at any situation.

When should I apply for an online loan?

An online loan can be your financing partner at any kind of situation. But it can become a life saviour during emergencies like a medical emergency or urgent travel. In an ideal world, we should do things according to our plans. But sometimes we fail to plan, or some other times unexpected situations hit us and leave with financial emergencies. In such situations, a personal loan helps you to come out of those tough times.

Other than emergencies, there are many situations when you can get a financial boosting from personal loans. You can apply for a personal loan online to renovate your home, paying down payment of your car, taking a vacation and so on.

Who can apply for instant loan online?

Ideally, a instant loan can be applied by anyone who is more than 21 years old. But the age is not the only eligibility to apply for a personal loan.

  • The applicant must have a regular source of income.
  • If you are salaried, your monthly income should not be less than ₹20,000
  • You must have a minimum of 2 years of work experience.
  • In the case of self-employed, your business must have 5 years of existence.

Why borrow from Finance Buddha rather than a bank?

Finance Buddha has proper loan management and time management skills. We will provide you high-quality service with all our skill and teamwork. The best part about borrowing from Finance Buddha is that you don’t have to visit any bank or even our office, even a single time. You have to just apply online from the Finance Buddha portal for the personal loan. The second best part is that the documentation is completely online. Thirdly and most importantly, the loan approval process gets completed within 2 hours of applying, thanks to our proprietary algorithm. The entire Instant Loan process being online is very seamless, simple and quick without any hassles. Give a try to our Instant Loan facility and get personal loan online in one day.

Insta Loan ReviewsView All

Rashmi Bharti

5 / 5

Instant Loans are best for urgent requirements. I applied for the same from Finance Buddha. The process to apply was very simple and easy. I got the approval message within seconds and disbursal happened on the same day.
Manisha Singh

5 / 5

I have an Insta Loan from here and I am totally satisfied with the service regarding it. The loan application was processed fast and i got it approved on the same day.
Onkar Saurav

5 / 5

I was looking for an urgent personal loan when I came to know about Finance Buddha through Google search. Rates and charges are nominal and yes you can rely on it.
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Rate of Interest is high ?
Rate of Interest is high ?

Try Applying for a higher Loan Amount as most bank reduce interest rates as loan amount increases

Not getting the desired Loan Amount?
Not getting the desired Loan Amount?

Try Adding the income of a co-applicant like a working spouse

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Have multiple existing loans?

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