How To Get An Instant Loan Without Any Physical Documents?

By Author: Ankit Verma
Total Articles: 23
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An instant loan is a quick loan facility that can be availed online through instant loan apps or websites. So, when you are applying for a personal loan online, physical documents are not involved as the process of a loan application, documents submission, and verification, everything is digital from start to end. A borrower’s background check is a must before loan approval; hence documents verification is a critical step for loan verification.

In the absence of instant lone apps, a bunch of physical documents was submitted for loan approval at the financial institution. The digital loan apps have changed the loan documentation scenario, making it paperless in the loan process. This speeds up the loan approval and releases disbursal time.

SimplyCash personal loan app approves loans without any physical documents. Borrowers are required to submit their identity proof and income statement as mandatory documents for instant loan approval.

Let’s see how it is ...
... possible to get an instant loan without any physical documents:

Once you have cleared the loan application form and arrive at the documentation step, keep handy your Aadhar card and PAN card numbers for a mandatory E-KYC verification. Aadhar card represents a borrower’s personal identity whereas a PAN card reflects the borrower’s financial history.

Accurate loan documents and eligibility criteria of the borrowers play a major role in the fast processing of a personal loan. In the absence of any required documents or if the personal loan eligibility criteria do not match the required standards, your application for a personal loan can be rejected or delayed. Financial institutions make personal loan eligibility criteria mandatory for the simple reason that they do not want to bear any risk of delayed payment or any kind of fraud.

In the absence of any physical documents or if the personal loan eligibility criteria do not match the required standards, your application for a personal loan can be rejected or delayed.

SimplyCash is a new-age instant loan app by HeroFinCorp, enabling personal loan applications without physical documents. SimplyCash personal loan is a hassle-free encouraging paperless way of document verification.
The mandatory documents include:
- Aadhaar Card number, a mobile number linked to Aadhaar, Pan Card number, and Bank Account details.
- Address Proof - Smart Card Driving license/ Aadhaar Card
- 6 months bank statement
- Internet banking information
- Proof of business or employment – the name of the company, work experience in the same job/business
- Good credit score to confirm the loan repayment ability