How to Get Instant Personal Loan Online

Banks, non-bank financial companies, and peer-to-peer lending platforms offer hassle-free rapid personal loans in a matter of minutes. These loans can be approved in as little as one minute. Through these fast loans, an individual may obtain a loan sum ranging from Rs.25,000 to Rs.5 lakh.

We are going to discuss how to get an instant personal loan online within 30 minutes.

1. Werize: Instant Personal Loan

Werize provides up to 5 lakh personal loans online. You will get the approval within 5 days and money will be credited to your bank account.

Eligibility Criteria for Werize Loan

  • Individuals between the ages of 21 and 55 are eligible.
  • In the event of a paid employee, the monthly compensation must be at least Rs.12,000 (Net Salary).
  • Your salary should be deposited into your bank account.
  • The loan is only available to salaried employees.

Documents Required

  • Pan Card
  • Aadhaar Card
  • Electricity Bill
  • 1-month Salary Slip or Joining letter
  • 12-month Bank Statement pdf format.

2. Money View: Quick Loan Provider

Money View provides quick personal loans to individuals throughout India. The loans are simple to apply for because the process is totally paperless. Because the credit model used by the Money View Loans app differs from standard approaches, it allows people with poor credit ratings to obtain loans.

Eligibility Criteria for Money View Loan

  • The candidate must be either salaried or self-employed.
  • Salaried candidates must earn at least Rs.10000 per month in cash.
  • The applicant’s CIBIL score should be at least 700.
  • He or she must be between the ages of 21 and 57 and get his or her salary through a legitimate bank account.

Documents Required

  • Pan Card
  • Aadhaar Card
  • Recent 4-month Bank Statement pdf format.

3. Faircent: Peer to Peer Loan

If you need money right now, you can apply for a Fairecnt Pocket Loan. Faircent provides personal loans from the home of up to Rs. 4 lakh. You will receive your loan within 24 hours.

Eligibility Criteria for Faircent Loan

Salaried Person

  • Net 22,000/- Salary with 1 yr. Cibil Track
  • Salary Slip Required
  • Pan India Loan Available
  • Loan Amount: Up To 4 Lakh

    Self Employed

  • Self Employed with a minimum 1 yr. ITR (30-month Cibil Track Required)
  • 2 yr. ITR gets a Higher Loan Amount
  • 2 yr. Trade License Required
  • Loan Amount: Up To 4 Lakh

Documents Required

  • Pan Card
  • Aadhaar Card
  • Mobile No
  • Email ID
  • 1 yr. Bank Statement PDF Format
  • Salary Slip For Salary Person
  • IT File For Self Employed
  • Electricity Bill  
  • Trade License for Self Employed

Benefits of Instant Personal Loan

Paperless Approval: When applying for a typical personal loan, you must provide the necessary documentation to the lender before your loan request is approved. When you apply for a fast personal loan online, all of your paperwork must be uploaded online, making the entire procedure paperless. You will also be asked to provide minimal or no paperwork if you are a pre-approved customer.

Unsecured Personal Loan: An immediate personal loan is a sort of unsecured personal loan. As a result, while applying for a fast personal loan, you will not be required to provide any security or collateral.

Immediate Disbursement: If you want cash immediately, it is best to apply for an instant personal loan since the funds will be paid to your account in a timely way.

Low Processing Period: The processing time for immediate personal loans is substantially less than that of traditional loans.

Loan Tenures: When you apply for a fast personal loan, you are usually given a loan term that is adjustable. Thus, subject to the lender’s maximum loan payback duration, you can pick a repayment term that is convenient for you.

Also Read: 11 best personal loan app

Personal Loan from Different Banks

 Bank Name Interest rate (p.a) Loan Amount
ICICI Bank11.50% – 17.25% 50k – 25 lakhs
HDFC Bank11.25% – 17.75% 50k – 40 lakhs
Kotak Bank10.75% – 17.99% 1 lakh – 30 lakhs
Tata Capital11.25%- 18.75% 75k – 25 lakhs
IndusInd Bank11.50% to 19.00% 1 lakh – 25 lakhs
IDFC First Bank12.00 % to 21% 1 lakh – 40 lakhs
Bajaj Finserv12.49%-15.30% 1 lakh – 20 lakhs

FAQs of Instant Personal Loan