Medical emergencies, home repairs, or urgent expenses can be stressful enough to leave us in the dark. It is natural for financial stress to increase when there is no immediate access to money. But recently, with the help of digital technology, getting an instant loan has become much easier.
Many digital lending platforms and banks now offer services that allow you to quickly deposit money into your account up to ₹50,000.
What is a quick loan?
A quick loan is a loan service that provides quick financial assistance, with a small amount of loan that can be approved within a few hours. These are usually unsecured loans and do not require any collateral. To use this service, all you need is: Aadhaar card, PAN card, bank statement and some personal information.
Who can apply?
- Age should be between 21 and 60 years
- Must have a regular income
- A credit score of at least 650 is preferable
- Both self-employed and salaried are eligible
- This facility is best for those who have started working diligently in a new job or those who need money immediately.
How is the application process?
- Download a trusted digital lending platform or bank app
- Enter your personal and financial details
- Upload documents like Aadhaar, PAN, bank statement etc.
- The process takes a few minutes after completing the digital KYC
- Once approved, the money will be transferred directly to your bank account
Key features:
- Approval within minutes
- Cash in account within 2 hours
- No need to visit any physical office
- EMI options ranging from 3 months to 24 months
- Less paperwork, fast processing
Is this a warning?
Yes. The interest rate on quick loans may be slightly higher than that of regular banks. But in an emergency, it is important to get money immediately. For this reason, it is best to read the terms and conditions carefully before taking a loan and only borrow as much as you can afford to repay.
A solution at your fingertips in an emergency!
These days, quick loan services are available via mobile in just a few clicks. There is no need to wait for days for a loan in times of emergency. All you need is a smartphone and internet – your money will be in your account within minutes!
Quick loan platforms are using modern technology to provide people with immediate financial assistance. With the smartphone in your hand, you can find relief for your light emergency needs. However, this is not free from any liability – it is very important to check your repayment capacity and loan terms and make a wise decision before taking out such loans.