Running short on cash? Need immediate funds to fulfill the financial requirements? Borrowing from your friends and family members? Well, in today’s fast-paced lifestyle, our needs are increasing, including the need for cash. Most of us tend to depend upon our families to get the required cash. But difficulties may occur when it comes to loan repayment. Instead, consider taking a personal loan at a low interest that doesn’t ask for any collateral, comes with a flexible repayment option, and offers instant approval. One can go for personal loans for any purpose such as a wedding, buying a new gadget, home renovation, higher studies, and many more. Earlier, applying for a loan was a job. The lengthy paperwork, excessive documentation, and then waiting for months to get the approval. But the digital process has changed everything. From applying for a loan online to loan sanction, the entire process is concise and time-saving. There are many aspects to look for when it comes to getting a online with instant loan approval. Read on to know everything you require while applying for personal loans.
Personal loan with income proof or documents
Loan approval is easier if you have proof of income. Lenders will approve loans for self-employed people who have all the required documents. To get an instant personal loan, make sure you review the eligibility criteria and all required documents.
Eligibility Criteria For Getting a Loan Online
Meet the following eligibility criteria to get a loan online with faster approval –
- Your age must be between 21 to 65 years
- You need to be a citizen or resident of India
- Your net monthly income should be at least Rs. 18, 000
- Should have a good credit score
Documents Required To Apply a Personal Loan Online
Say adieu to long paperwork! Well, the documents required to apply for a loan online will differ for salaried and self employed individuals. Check with the respective lender for confirmation.
Documents for Salaried Individual –
- Identity proof: Aadhaar Card/Passport/Voter Card
- Address proof: Aadhaar Card/Passport/Electricity bill
- Last 3 months Bank Statement
- Salary Slips of last 3 months
- Photographs
Documents for Self Employed –
- Identity proof: Aadhaar Card/Passport/Voter Card
- Address proof: Aadhaar Card/Passport/Electricity bill
- Last 3 months Bank Statement
- Business proof – ITR statement, proof of income with profit and loss statement
- Photographs
Get a loan online up to Rs. 15 Lakh from Buddy Loan in just 48 hours with no paperwork. The interest rate starts from 11% p.a. onwards. Minimal documentation, no collateral required and doesn’t include any repayment or hidden charges. You can select to repay the loan within a tenure of 6 months to 60 months. You are just a few clicks away from getting your loan. Keep all your documents handy, submit applications, and wait for a few minutes to get approval. Buddy Loan’s personal loans are the best financing tool that will come to save you during your unplanned and uninvited expenses.
Wrapping Up
An Instant Personal Loan can offset any temporary financial crisis and can be a great solution to an urgent cash flow problem. However, poorly selected loans and banks can be a nightmare for your finances. Hence it is suggested that you do your research while deciding the bank to get the instant personal loan online.
