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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
Insta Loan Apply Details

Insta Loan – An Instant Personal Loan from Finance Buddha

Insta Loan is an instant personal loan by Finance Buddha in 180 Cities across India. Now you can apply for a personal loan online and get money in the bank account in as soon as 2 Hours. Anyone can avail an instant loan online from ₹50,000 to ₹50 Lakhs without any physical paperwork. We have a 100% online loan process with instant loan approval. Furthermore, it is one of the fastest personal loans you can get in India. Make use of our online loan service and get a personal loan in one day.

What is a Personal Loan?

Personal Loan is a credit facility provided by the banks and non-banking financial organisations, to satisfy the personal financing needs of the consumer. A lender will provide loan at some interest rate to the customers for a fixed time period. The borrower then uses the loan amount for any personal purpose. The borrower not answerable to the lender about the usage of the personal loan.

Also, personal loans are unsecured loans, which means that there is no need for any kind of collateral to avail them. There is no need to commit anything to the creditor as security. As such, none of your property or asset at risk, should you fail to repay.

Whether you are a self-employed or salaried individual trying to meet both ends, whenever there is an unusual expense like child's marriage, renovation of your home or furnishing, children’s higher education, family holiday, or any other dream to be turned into reality, make use of the personal loans.

Instant Personal Loans: A New Era in Banking

In recent years, the banking sector witnessed many changes and the instant loan is such one among other changes. This loan is the change, which was the 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.

Instant Personal Loans are the solution to all the above problems and a new age in the domain of lending.

Finance Buddha now offers Personal Loans Online with Instant eApproval

We have brought our experts together with top notch competence, loan management and time management skills to deliver high quality services through our online loans facility. Finance Buddha assist all individuals with various types of loans such as business loan, home loan, personal loan, business loan and more. With the high demand for instant 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 this online service and get personal loan online today.

Features and Benefits of Instant Loans

Some of the highlighting features and benefits of Instant Loan in India are:

  1. Loan amount starting from ₹ 50,000 to ₹ 5,000,000.

    We at Finance Buddha understand that not everybody’s requirement is same and will vary from individual to individual depending on the situation they are facing. Hence, we offer wide range of loan amount starting from ₹50,000 and up to ₹5,000,000 so that you are covered in times of need, whatever it may be.

  2. Loan tenure up to 5 years.

    Emergency situation can arise anytime and the only solution out might be an instant personal loan. But that does not means that you should be overburdened with huge EMIs. As such, we offer tenure up to 5 years so that the EMIs remain bearable.

  3. No Physical Documentation required.

    Desperate times need desperate measures. Emergency situations may not leave you with enough time to run around and arrange the paperwork required for a personal loan. Hence we created a completely online personal loan process, where you can upload all the documents required for Insta Loan from your computer, mobile or tablet, hence saving you a lot of time to focus on other important things.

  4. Quick processing of loan.

    Finance Buddha Insta Loan offers instant loan approval, and loan disbursal within 2 hours of applying (provided that you are eligible and complete all the steps required immediately). Since the process is completely online, we have all the required information once you successfully apply and our proprietary algorithm will run in the background to process your personal loan application.

  5. Amount will be credited to the applicant’s account instantly after final approval.

    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.

  6. Interest rate varies from 10.5% to 24% depending on the applicant’s eligibility.

    Online personal loan process does not means higher interest rates. Avail personal loans at the rate you deserve, as per your requirement and eligibility.

  7. Ideal option in case of emergencies like medical, wedding requirements, vacations, in case of accidents and so on.

    Finance Buddha Insta Loan is a completely online, quick and hassle free process, right from the applying online to disbursal, we strive hard to disburse the loan amount in the account as soon as the personal loan application is processed and approved. This makes Insta Loan your preferred option for emergency scenarios where there is an urgent requirement of money.

How does Instant Personal Loan from Finance Buddha works?

The minute you decide to take an Insta Loan, visit Finance Buddha website and simply fill the easy application form online. Once you submit the form, the details provided by you will be scrutinized internally by saving your time and effort and will let you know if you are eligible for an instant loan and the best offer available for you. Your loan application will be processed and disbursed in 2 hours.

The 5 simple steps are:

  1. Apply online.
  2. Get advice on your best offer.
  3. Complete the documentation required.
  4. eSign the Loan Agreement.
  5. Loan Disbursal.

Instant Loan Eligibility Criteria

Eligible Criteria

Salaried

Self-employed Professionals

Age (Min-Max)

25-60

25-60

Income

₹400,000

₹600,000

City

180+ Cities across India

180+ Cities across India

Employment

Fulltime with at least 2 years of experience

At least 5 years of earning turnover

CIBIL

Required (750-900)

Required (750-900)

Eligibility basically means ‘Fit to be chosen’. That implies are you worthy for which you are applying. Insta Loan is a kind of personal loan which is generally taken by a person in case of any emergency. These emergencies can be of many types like medical emergency, travelling emergency, to bear any urgent wedding requirements and many more like this. In this kind of emergency people want money urgently so Finance Buddha has come up with Insta Loan. Finance Buddha's online loans are an unsecured loan that means you have not to give any guarantor or any kind of property as guaranty. Hence it becomes more important for any financial organisation to check the eligibility of the borrower before they give them the loan in order to determine whether they would be able to repay the loan or not. This is a big point to be considered. So there are many factors on which your Insta Loan eligibility depends.

Factors on which Insta Loan Eligibility depends:

Age

The younger you are your probability of getting loan is more you have. As when you are young the bank or any financial organisation thinks you are more capable of repaying the loan. In the case of Insta Loan whether you are a salaried employee or you are self-employed your age should be between 25 to 65 years.

Income

Your income is the most important factor on which your Insta Loan eligibility depends. The more you earn, more is the possibility of timely repayments. In case of Insta 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 Insta Loan eligibility depends. For the Insta Loan if you are salaried person you should have at least 2 years of full time work experience in your current profession. And if you are a self-employed person then you should be having 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 750 credit score is considered good. If you are have a CIBIL score less than 750 then your chance is also less, and in some case you may get loan at this credit rating also but then your interest rate will be somewhat high as compared to others.

Employer

The employer with whom the candidate (borrower) is working with is the most ideal approach to gauge the believability of the candidate. Being a piece of rumoured and high turnover organizations is an advantage with regards to applying for the Loan.

How to be eligible all the time?

Finance Buddha’s Insta Loan is the fastest solution in urgent times. But to avail Insta Loan facility one has to be eligible as per the eligibility criteria mentioned above. Failure to meet eligibility criteria will result in rejection of your online personal loan application.

  1. Credit Rating/CIBIL Score: To avail an Insta 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 that so far you have had a good mixture of secured and unsecured loans and you have been regular and timely with your repayments. An applicant with good CIBIL Score stands out as a Credit Worthy Borrower, who will be regular with the repayment of the Insta Loan (if disbursed).

    So, it will be a good idea to become regular with your existing repayments (if you have not been so far, or continue it if have been already). This will help you improve your CIBIL Score and will help you in availing any loan in future, not just Insta Loan.

  2. Monthly Income:  To repay any loan in equal monthly instalments or EMIs, one should have a sufficient income that even after paying for the EMI, there would 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, so that there is enough left for other things. Even if you are in high income range, your fixed monthly obligations should not be in excess of 60% of your 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 additional source of income to lower your FOIR. This will increase the chances of your Insta Loan application, should you ever want to avail it in future if the need be.

  3. Job Stability/ Employer: Salaried Employees of top-notch companies and MNCs have a secure and stable future and hence employment. In contrast to this, small and medium companies, proprietorship and start-ups do not have a secure future and there is always a risk involved that these can shut-down anytime, jeopardizing their employees financial future.

    Any lender will always prefer an employee of a 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.

  4. 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 lender to analyze the financial condition of the applicant and their repayment capability. In contrast to this 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

Finance Buddha Personal 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 (any one of these)

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 (any one of these)

Passport / Driving License / Voter ID Card / Electricity / Telephone Bill / Mobile Postpaid Bill

Bank Statement, Utility Bill, Registry Copy, Lease or Rent Agreement, TAN Allotment Letter

Income Proof

Last 3 months Bank statement and payslips.

Last 6 months Bank statement and ITR of the last 2 years.

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 visiting us and filling up the form. 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 personal 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

We offer wide range of loan amount starting from ₹50,000 and up to ₹5,000,000 so that you are covered in times of need, whatever it may be.

The tenure, loan amount and interest rates depend on the eligibility of the applicant. If the applicant has good credit scoring and income, then the rate of interest will be low, approved loan amount will be high, tenure can be anywhere between 1 year to 5 years as per the applicant’s requirement.

Loan will be approved on the basis of below chart, this is basically to check where the applicant is employed and accordingly the loan amount, interest rates, processing fees, tenure and other specifications will vary from person to person.

Fees and Charges

Apart from the interest rate there are some other fees which are charges for personal loan.

Processing Fees

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

Part payment and part pre-payment

In case of Insta loan Finance Buddha also provides part payment and part pre- payment options. But for this terms and conditions are applied. This charge depends on many factors such as the principle loan amount, the outstanding amount, monthly EMIs and so on.

Delayed Payment Charges

There is always a penalty charge for delay in payments. As same as others Insta loan is also having some penalty charges for delay in payment this depends on the outstanding loan amount with the bank. This late payment doesn’t leads to penalty only but it leads to a bad credit score as well. This can affect you in 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.

Factors which Deciding Your Personal Loan Interest Rate

Loan amount and the Income of the applicant

Suppose a person having a yearly income of INR 4 Lakhs applies for a loan of INR 6 Lakhs in a tenor period of 2 year. Then for us it is a risky case as in this case, as there more possibility of default since the income is less than amount beig borrowed. As such, the interest rate is going to be higher. So for the interest rate the loan amount and individual income plays a very important role.

Tenure of the Loan

Tenure is also one of the important factors which play an important role in determining the interest rate. If the tenure is less, the interest rate will be higher, and if the tenure is longer then the interest rate will be lower. This is simply a case of vice-versa.

Credit Rating

Each and every bank 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. If you are having a low credit score that means your monthly repayments regarding any of your previous loans were not on time. And when you are having a good credit score which generally considered +750 then you are a good borrower and you were timely repaying your monthly EMIs.

Understanding Your Instant 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.

Purposes of Instant Loans

Here are some of the different purposes for which an Instant Loan can be applied for. This money will be available immediately for use.

  1. Medical emergencies
  2. Urgent travel
  3. Wedding expense emergencies
  4. Quick need of fund for overcoming any arrest or imprisonment
  5. To repay any interest debt and so on.

Get Online Loans in Emergency Situations

Whatever be your emergency, we are here to help! Few incidents in life leave you with not many options where all your advance preparations might also not be enough. If you are in such a need, Finance Buddha’s Insta Loan will help you overcome in a quick, efficient and hassle free manner.

Here are some of the different emergencies situations, but not limited to just these, for which online loans can be applied for. This money will be available immediately for emergency uses.  We do not require any physical documentation for processing these loans as all need to be uploaded online and the rate of interest will be usual or slightly higher than normal- these are dependent on the individual’s eligibility for loan.

  1. Medical Emergencies
  2. Urgent Travel
  3. Wedding Expenses
  4. 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. Accidents need not be just road accidents, but sudden health deterioration because of multiple reasons. Such situations require quick response and immediate treatment and every second counts! 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. Though being prepared for such situations surely does minimise the effects but still a personal loan in one day can definitely be your saviour.

Finance Buddha understands the urgent need which arises in medical emergencies. Finance Buddha and its team does it best when such a requirement arises. The process here is completely online 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 online personal loan application and upload all the required documents. And that is it. In cases of emergency, Finance Buddha will always be by your side.

Urgent Travel

You can now avail Finance Buddha’s Insta Loan to meet your urgent travel expenses. Whether it is to a destination in India or in abroad, whether it is for a personal reason or a business deal or any medical requirement, Finance Buddha has got you covered. Just fill an easy to fill online personal loan application and upload the requirements and you are done. We work hard to ensure instant loan approval and the disbursal happens within 2 hours of approval (provided that you are eligible).

Wedding Expenses

Wedding is one of the most important events, if not most important event in anybody’s life. As such everybody wants their wedding to be a dream wedding. But the conversion of dream to reality comes at a price. Sometimes unexpected may happen may and leave you in a cash crunch, unable to meet the need of the hour. And in many instances it might not be possible to cut down the expenses. Wedding expenses does not include just the cost of the main wedding function, but also things like jewelleries, 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. Avail Finance Buddha’s Insta Loan when you need immediate cash loans in India. You can apply online for Insta Loan through our website. This is an entirely online 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. 

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. And the police needs to follow the 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 Insta Loans. We understand that emergencies like an arrest can affect you and your family severely. Hence we have made personal loan process 100% online wherein you can apply online anytime from anywhere. Our proprietary algorithm determines (based on the information provided by you) your eligibility and gives instant loan approval. After which you need to provide few more details and upload all the documents online. Once we have everything we need, your loan processing starts. And if you satisfy all the eligibility criteria your personal loan application is approved immediately and your loan amount is disbursed within 2 hours.

Business Requirements

It never remains sunny throughout the year! All the business owners know and understand this very well. Although everyone tries to be prepared for such unforeseen circumstances but sometimes it is not just enough. Urgent situations demand speedy solutions. Finance Buddha is here with its Insta Loan to cover you in that rainy season. Insta Loan is a completely online personal loan product where you get instant loan approval and same day loan disbursal, should you satisfy all the eligibility criteria for the same. All you need to do is just fill an online personal loan application form and provide all the details that we need and upload all the documents required. There are no physical documents required or any personal visits needed. The process is completely online, quick and hassle free.

Why apply for Personal Loan Online from Finance Buddha?

While there are many ways to apply for a loan, many still prefer Instant loan 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. You just have to visit Finance Buddha platform, apply for the instant loan by filling all necessary information and get the same approved in an instant and disbursed within 2 hours on the same day of applying.

The Finance Buddha Advantage

Finance Buddha's Personal 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 sign 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 make 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 a loan online today.

Points to Consider Before Applying Online

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: Insta 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. did not have remained overburdened with multiple loans, did not had 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.

  2. 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, 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 alternate option.

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

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

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

  4. 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.

How do Quick Loans work?

A quick loan is nothing but a personal loan which is processed entirely online and disbursed on the same day. The processing is done with pre-set computer programmes which make the loan processing faster than one can imagine.

Such loans are 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.

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.

Quick Tips about Instant Loans

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

  1. Read the Fine Print: All financial transactions like online loans come with few terms and conditions to which the consumer is obligated if 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 about 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.
  2. Choose Your Instant Personal Loan Amount wisely: Finance Buddha provides everyone to choose an instant loan amount between ₹50,000 and ₹5,000,000. But this does not implies that everyone should be choosing the maximum loan amount option available. The choice of personal loan amount should be based on: first and foremost your exact requirement, your repayment capability and your eligibility. Being greedy might result in, excess loan burden then required, a disturbed budget and loan rejection (which has a negative impact on your CIBIL Score).
  3. 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.
  4. 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.
  5. Correct Information: Providing the correct and authentic information as requested for online personal application will ensure that you will get the best offer available for you and will also decrease the chances of your application getting rejected. Any lender goes to multiple extents 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 the lender, that the applicant provides online correct, genuine and authentic information.

Dos and Don'ts of Personal 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.

Online Loans v/s Personal Loans: Know the Difference

  1. In online personal loan no physical documentation is required where as in general personal loan physical documentations are required at many stages.
  2. Processing and loan disbursal is very fast in the online personal loan which is generally from 2 to 4 hours, but in the case of conventional personal loans the processing takes much more time and that can be between 4t o 5 days depending on the financial institution with which you have applied.
  3. Online personal loans are best option in case of emergency situations like medical emergency, travel emergency or any kind of financial emergency. When you are in any emergency then time matters for you a lot and for that online personal loan is best as it is having quick disbursal. Whereas the personal loan from a bank / NBFC can be availed for any personal requirement but for emergency we can’t rely on the disbursal speed of the loan.
  4. Online loans are being offered by only few organisations like Finance Buddha. In case of Finance Buddha for online loan the loan amount can be from ₹50,000 to ₹5,000,000. Whereas in case of personal loan you have many options i.e. many banks to go with. And in that case your loan amount depends on the bank with which you have applied.
  5. As regards the interest rates and tenor period, for online personal loans the rates are somewhat higher than general personal loan as the tenor period is less as compared to that of the personal loan.
  6. In online personal loan 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 a loan 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.

Finance Buddha Insta Loan v/s HDFC Insta loan: What’s the difference?

  1. HDFC Insta loan is only for the pre-existing customers who are having HDFC account and HDFC credit card. Whereas for availing Finance Buddha Insta loan no particular bank account is required. The only thing required is you should fulfil the eligibility criteria.
  2. For HDFC Insta loan zero documentation is required as HDFC gives Insta loan only to their pre-existing customers so they are already having all the details of the customer, whereas for the Finance Buddha Insta loan there is paperless documentation. In this you have to upload the scanned copies of all the required documents on their website.
  3. For HDFC Insta loan the loan amount can be blocked only against your credit card limit. That means you can have a limited loan amount as per your credit card whereas in Finance Buddha Insta loan there is no such restriction you can have loan from ₹50,000 to ₹5,000,000. There is no such limit as with HDFC.
  4. HDFC is having attractive interest rates and flexible repayment options and flexible tenor period too but Finance Buddha Insta loan is having fixed tenor period which is between 1 to 5 years and interest rate is lower as compared to the other Insta loans.

When should you avoid Instant Loan?

Insta Loan is a kind of unsecured loan with very less documentation with quick processing and everything is online so that the loan disbursal is fast. Finance Buddha strives to disburse your instant loan within 2 hours of Approval. 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 a personal loan.

Here are a few situations where availing a personal loan is not advisable

  1. 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 conventional personal loan. So, if there is no urgent requirement try to avoid it.
  2. 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. 
  3. 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 new loan. So even if you manage to secure the loan, your financial woes are not going to end. 
  4. 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.
Insta Loan Frequently Asked QuestionsView All

What is Finance Buddha Insta Loan?

Insta Loan is an instant personal loan offering from Finance Buddha. It offers a completely online loan process. And, one can apply for a personal loan without documents through our website. We offer the benefit of disbursal in 2 Hours.

Insta Loan ReviewsView All

Manish Jaiswal

5 / 5

I was in need of an urgent personal loan. Got to know about this site through a friend. I applied online and got money within few hours of applying. Happy with the experience.
Ananya Mukherjee

5 / 5

There are so many lenders offering personal loans. But only a few live up to their promises. I applied online and got loan disbursed in just 2 hours.
Abhijeet Jha

5 / 5

This is really instant loan. Apply online and get loan in hours.
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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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