You can apply the loan immediately if needed through instant loan apps like Moneycontrol app or website. Whether it is medical expenses, home repair or buying any big goods – these apps provide the facility to give loans immediately. The entire process here is digital, which does not take time for paperwork.
Why people are turning to instant loan apps
The biggest feature of these apps is that their loan approval is much less than traditional bank loans. While it takes several days to pass the loan in the bank, the instant loan apps can transfer money to your account within a few minutes or hours. Because of this, these apps are no less with any help for people in Emergency.
These apps offer loans based on factories like credit score, income and credit history. Meanwhile, experts always recommend using the same apps that are approved by a trusted bank, NBFC or RBI, so that fraud can be avoided.
You can also apply an instant loan from the Moneycontrol app. For this, you just have to select loan offers, upload documents and setup EMI. After this, the loan amount comes to your account.
Benefits of instant loan apps
Benefits of Instant Loan Apps only Fast loan Are not limited to. Many more things of them also make them special.
In Approval process very easy It happens, because the verification is quick with the help of technology. You can upload documents sitting at home instead of going to the line for KYC.
Loan Easy to apply Is. There is no need to fill various types of forms and repeated rounds here. Open the mobile app, enter the loan amount, fill some important details and apply.
In both loan amount and repayment Flexibility Get You can choose a loan amount according to your need and you can also set the repayment tenure with your convenience.
Here Documentation is also less It happens. While many documents have to be given for traditional loans, only a few basic documents have to be given in instant loan apps.
Another big relief is that for such a loan There is no need to guarantee some mortgage Would have been
Documents required for instant loan
Documents required for this include:
- Identity proof – Such as PAN card, Aadhaar card or voter ID
- Address proof – Eg Aadhaar card or electricity bill
- Bank statement – Last 3 to 6 months
- Income proof – Like Salary Slips
How to apply for instant loan
To apply the loan, you just have to follow some easy steps, which are as follows –
- First decide how much loan you need at which interest rate and with which repayment tenure.
- Check your eligibility before applying for the loan.
- Then download the app, fill the necessary information, upload the documents and wait for the approval of the loan.
- Now wait for approval.
- Accept the offer as soon as the approval is received.
- Money will be transferred to your account.
conclusion
Remember, these apps are effective only when you connect with a reliable and authorized platform. In such a situation, instant loan apps not only give you a faster loan, but also give you some relief and trust in difficult times.
Personal loan interest rate starts at 10.5% annually on platforms like Moneycontrol and processing fees are also reduced. There is no hidden charge from which it becomes a transparent option.
Summary
Instant loan apps provide an easy way to provide money as soon as possible in the Emergency. Here with the least documents and immediate approval, you can get the amount in your bank account directly on your smartphone with the help of some clix.
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Disclaimer
This fraction/article is written by an external partner and does not reflect the work of the editorial team of Moneycontrol. This may include references to products and services offered by Moneycontrol.