Instant Personal Loan

Instant personal loans are collateral-free loans that come with quick approval and faster disbursal, usually within a few minutes or on the same day. One can apply for such loans through a completely digital process with minimal or no documentation. Existing customers of banks and NBFCs with a strong credit profile are usually eligible for instant personal loans.

Instant personal loans are usually offered to salaried and self-employed individuals with a strong credit profile. Below-mentioned is the eligibility criteria of applicants planning to avail instant personal loans:

Instant personal loan applications require minimal to zero documentation. Below are the documents that many lenders would require during the application process.

Check: Complete list of Documents Required for Personal Loan

You can apply for an instant personal loan either through the official website of banks and NBFCs or through their mobile apps. 

However, scanning offers by most lenders by visiting their respective platforms isn’t feasible.

Applicants can, instead, visit the Paisabazaar website to compare rates and offers from multiple lenders and opt for the offer that suits their requirements and budget the most.

The complete process can be done online, and loan disbursal takes into the bank account without any hassles.

Instant personal loans are usually disbursed on the same day. Most lenders offer instant disbursal in a few minutes as well. However, the final approval and disbursal may vary from one applicant to another, depending on their credit profile and repayment capacity.

For over a decade, Paisabazaar has enabled more than 53 million consumers make informed and smart financial decisions to turn their goals into reality. 

At Paisabazaar, you get pre-approved personal loan offers from multiple lenders on a single dashboard, based on your credit score. You do not have to visit multiple lenders and platforms to enquire about the instant personal loan availability.

Here, each offer is accompanied by the “Chances of Approval“ feature, where you get to know beforehand about the possibility of approval of your loan application.

You can compare all such offers from every perspective and apply for the one that suits you the best. In addition to it, a credit expert from Paisabazaar is always ready to steer you through the loan application process till your loan is disbursed, in case you require assistance.