Financial woes can arise at any time. You may need funds to pay for educational expenses for your children or a wedding in the house. There could also be unexpected medical bills to deal with. Apply instant loan option comes as an additional backup that is something you could consider, if you find yourself in a tough spot. It is provided by banks and financial institutions to meet personal exigencies.

It can be availed instantly at the lowest interest rate starting from 10.25% along with a flexible tenure ranging from 1 year to 5 years. You can get the personal loan starting as low as Rs 15,000 to Rs 50 Lacs. The documentation to apply for personal loan is also smooth and hassle-free. It’s a 100% contactless and touchless loan.

Features and benefits of online personal loan:

Loan up to 50 Lacs:

You can borrow a loan starting from Rs 50,000 to 50 Lacs. The amount you are eligible for depends on several factors including your age, net monthly income, credit score, existing financial obligations, etc.

Flexible and attractive interest rates:

The personal loan apply online starting rate is 10.25% for a salaried and self-employed individual. Based on the credit profile, tenure, and loan amount eligibility, the interest rate is offered by the lenders. If you are having a good credit score of 750, or above, we will get you the lowest interest rate loan offers of the top bank and NBFCs.

100% contactless process

The online personal application filling procedure is 100% contactless and touchless. Minimal documentation and quick approval are the main USPs of applying for a personal loan online.

List of documents required to apply for personal loan

  • Identity proof
  • Age Proof
  • Filled Personal loan application with photograph
  • PAN Card
  • Residence Proof- Passport, Driving License, Voter ID, Utility bills
  • Latest 3 months bank statement
  • Salary Slips of last 3 months
  • Form 16 or Income Tax Return of Last 3 years

Additional documents are required if you are self-employed

  • Last 3 years Income Tax Returns with computation of Income
  • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

The eligibility criteria to apply for instant loan

The minimum age to apply for a personal loan is 21 years and the maximum varies between 60 years to 65 years.

  • Must be a resident of India
  • Having a credit score of 750,or above
  • The minimum monthly income requirement is Rs 15000 for non-metro cities and Rs 20,000 for metro cities.
  • Should be employed at the current organization for at least 6/12 months or business tenure of at least 3 years (continuous)

Bottom line

Now there is no need to postpone your wish list. Apply for a personal loan with IndiaLends in just a few clicks. We offer loans to both salaried and self-employed individuals. You can find out your loan eligibility in a few seconds through our online calculator.

Applying for personal loan with us is an advantage as we offer you a detailed comparative analysis of all the loan offers available based on your credit profile. We collate the information of all personal loan options on a single screen so that you can easily compare the different products and select the best bank to apply for personal loan.

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