Looking for a fund instantly to meet your financial emergency? Well, if you have just nodded your head in a yes, all you need to know about an instant loan facility. By the term,it clearly means that the loan would be credited to your account instantly, unlike the regular loan that takes 3-4 days to disbursed.
If we talk more about the same, it is nothing but a pre-approved loan amount which is based on your relationship with a lender. And, the best thing about this facility is that it comes to you within a short span of time and that too without documents. That’s right, you can avail instant loan without documents.
Yes, being an existing customer of the bank, you already have a credit history with the lender, which helps the lender to give away the loan easily to you. Now, before we move on further,let’s just take a look at some lenders that give away the loan to you instantly.
HDFC Bank: The lender offers the instant loan to the applicants to meet the varied needs. If we talk more about the same, the loan amount being offered by the lender is up to Rs.40 Lakh that can be availed at an interest rate of 10.99%-20.99% per annum for a tenure of up to 5 years. Talking about the response time, within 4 hours an applicant can get the loan,either through branch or online. Not only this, there is a one-time processing fee of Rs.1,999 that an applicant needs to bear so as to avail this loan.
ICICI Bank: In order to avail the loan instantly, there is another lender in the market that offers this credit facility to the needful. The borrowers can avail the loan for a loan amount of up to Rs.15 Lakh at an interest rate of 10.99%-18.49% per annum for a tenure of up to 5 years. The best thing about this lender is that you can avail the loan instantly, right upon sending the application. As far as processing fee is concerned, it goes up to 2.25% of the loan amount via ATM, mobile banking application and branches.
Bajaj Finserv: Known for offering the loan amount of up to Rs.25 Lakh within 24 hours, there is no denying the fact that Bajaj Finserv personal loan comes to you without any hassle. This credit facility can be availed online at an interest rate of 10.99%-16% per annum for a tenure of 5 years. Not only this, you can get the loan after paying a processing fee of 2% of the loan amount.
However, one thing that needs to be mentioned here is the fact that if you are thinking to get a personal loan without cibil check, you are wrong. Yes, your three-digit numeric summary is something which always comes into the picture. Lenders always keep an eye on your score and soon after checking your score take the decision, whether you are eligible for a loan or not.
So, hope this article was worth reading for you!