Apply for an instant cash loan in 1 hour without documents Online

Apply for an instant cash loan in 1 hour without documents Online

If you are still wondering whether it is feasible to get an instant cash loan within 1 hour without documents? Well, you are in the right place.

With the changing times that we live in, the financial service sector has also undergone a 360-degree change to meet the growing needs of the time and age we live in.

Earlier, such instant cash loan requirements were fulfilled by requesting funds from relatives or small lenders, which were subjected to embarrassment and higher rates of interest.

With the advance in technology, several small and medium-scale lenders have moved their presence to digital platforms to increase customer reach. Therefore, it is convenient and easy to access for any requisitioner to apply for a loan request online.

Characteristics of online cash loan:

Here are some noteworthy characteristics of an online cash loan:

  • Issued within 1 hour to serve your emergency requirements,
  • You can avail it without submission of any documents,
  • These are generally short-term loans,
  • The range of loans sanctioned varies from Rs 5000 to Rs 10,00,000/- based on the need and customer credit profile,
  • The sanction and disbursement process is online, making it faster when compared to traditional lending from a bank or any other financial institution,
  • One can apply using the website or an app on mobile.

Why opt for a personal loan?

Personal loans are unsecured loans that you can access for your unplanned expenses. These loans may be used for things like education, housing, car maintenance, starting a business, or other similar purposes. There are no restrictions imposed for availing of a personal loan. They usually don’t require any collateral, and there is no limit on the amount you can borrow. Personal loans can be beneficial when used responsibly and within specific parameters. 

If you are wondering that the size of the personal loans market would be small and hardly people opt for this. You are mistaken.!

  • Around 77% of the people depend on personal loans to meet medical emergencies, wedding expenses, or long-pending trips.
  • The personal loans segment has seen magnificent growth in the last year, with 13.5% growth year on year in Mar ’21

The primary factors that drive people to opt for personal loans are the affordable interest rates and ease of access. Some lenders provide instant cash loans in 1 hour without the submission of any documents such as income proof or salary statements. With the launch of pre-approved loans, the demand for personal loans has only seen a proliferation.

Eligibility criteria:

Eligibility criteria are set by all the lenders registered with RBI for approval of instant cash loan, which is detailed below:

  1. He should be a resident of India.
  2. He should have a valid Aadhar card or PAN Card.
  3. He should be of age above 18 years.

The eligibility criteria are considerably relaxed to improve the customer reach. In addition, some banks opt for providing quick cash loans without the need for submission of essential documents such as income statements/ salary slips.

How to apply:

You can apply for an instant loan from any financial service provider online through the application or website post considering the following:

  • The maximum amount of loan to be sanctioned
  • Interest rates applicable
  • No. of installments
  • Documentation requirements
  • Additional facilities applicable on your loan
  • Hidden or processing charges, if any

Features of instant cash loan in 1 hour:

Here are some lucrative features of an Instant cash loan:

1) Easy repayment options:

Loan repayment is no more a burden since you can opt for the EMI option at your convenience. It ensures that repayment is not a burden.

2) Fast Approval:

The primary factor that drives people to opt for an instant cash loan in 1 hour without documents is its fast approval process compared to the traditional lending process. The entire process is online, making it easier for the requisitioner as there is no need to visit the bank or lender’s office.

3) Saves time:

During a financial emergency, time is the most valuable asset after money. You cannot spend time in a bank filling out multiple paperwork to get a loan sanctioned. With instant cash loan online, you can submit crucial information such as Aadhar number and income details and get a loan approved. In times of emergency, instant cash loans are a more accessible and time-saving alternative.

4) Pre-approved loans: 

Pre-approved loans are the best option if you need urgent funds because you get a loan sanctioned with a maximum limit assigned based on your credit profile. You can get funds disbursed immediately as the relevant information for funds sanction is already available with the lender.

5) Additional facilities:

There are a couple of additional facilities also provided by the lenders to make instant cash loan options lucrative such as credit cards and loyalty points for purchasing from the merchant partners such as merchandise, medicines, etc. This shall help the lenders increase customer reach and collect commissions from the merchant partners. 

There are instances where these merchant partners are not RBI compliant. Therefore, have a keen check on the same before making any purchases from these merchant partners, as this might lead to fraud cases. In addition, some lenders incorporate hidden changes in the terms and conditions. It is essential to read all the terms and conditions before applying for a loan.

Winding up:

It is no longer a challenging task these days to get a loan sanctioned, thanks to the technology that made availing of quick cash loans possible. The processing time declines drastically since the processing is done online only with minimum documentation. 

However, the responsibility to use this facility of availing of instant loans effectively rests in our hands. Avail a loan only when there is a need for one—plan for the source of income to make the EMI payments in advance. Then alone, a loan will not turn out to be a financial burden.


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