Instant Personal Loan: A financial emergency? A personal loan would be the best rescue. Getting a quick loan is now made easier due to modern technology, unlike traditional lending ways. With lesser documentation or no collateral for secure loans, the funds will hit your account within a few hours.
Some online lending platforms provide instant approval in just a few clicks. You are only required to upload the basic documents: PAN, Aadhaar, and bank statements. And, there’s no restriction on how you can use the cash—be it medical emergencies, weddings, travel, or any personal need.
The loan amounts generally range from ₹5000 to ₹50 lakh, depending on your eligibility and terms of the lender. Digital processing is 100% through Moneycontrol that lends at competitive rates starting from 10.5% per annum with no hidden charges.
How Long Does it Take for Personal Loan Approval?
If you apply through an online lender, the approval may take from a few hours up to two days. Due diligence and verification through traditional banks or NBFCs (Non-Banking Financial Companies) may cause delays.
However, certain banks pre-approve loans for their customers with proper credit history, which speeds the process.
How to Get an Instant Loan of up to ₹50 Lakh?
Want it fast? Follow these steps.
- Choose the Right Lender – Choose platforms like Moneycontrol that lend quickly with minimal documentation.
- Check Eligibility – Jobs or self-employed individuals with stable income or with a credit score above 700 get fast approval.
- Prepare Your Documents – Keep your PAN, Aadhaar, address proof, and income documents ready to avoid any delay.
- Complete E-KYC Instantaneously – Many lenders can offer swift digital verification and speed up the process.
Once verified, the amount will be transferred to your bank account.