Apply For A Personal Loan Using Instaloan App

By Author: Ankit Verma
Total Articles: 23
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If you are still hooked to the traditional way of applying for a personal loan, you need to switch to the instant loan app for a loan application, which is hassle-free and provides the fastest loan approval. A personal loan is a requirement that every individual once in a lifetime may need whether salaried or self-employed.

People from all sectors, private or public, need money at some point, and turning to the traditional form of a personal loan application, may give you a roller coaster ride by demanding a host of physical documents and income statements. Besides, approval and disbursal of the loan amount may take more than a week.

You can expect almost a fortnight or a month for the entire loan procedure to get completed and disbursed, whereas applying for a personal loan using the instaloan app is more convenient and quicker with approval on the same day, followed by disbursal.

In today’s hectic schedule and current Covid-19 pandemic situation, online activities have increased considerably. So with the innovation of quick cash loan apps, borrowers who need emergency funds get the option to apply online ...
... and avail the benefits of the instaloan just in time.

Let’s discuss the features and benefits of the instaloan app when applying for a personal loan.

Applying for a personal loan through the instaloan app is an ideal choice as it provides unified and instant solutions to all your financial issues in a flash:

• Flexible repayment option - Personal loan repayment tenure generally ranges from 6-24 months. Within that period, you get the flexible option of repaying the loan, whether in prepayment or a part payment. Some lenders may levy a penalty if you make the loan pre-payment.

• No collateral – Personal loan being an unsecured loan, does not require any collateral or security. This reinforces instaloans to help with immediate finance.

• Quick approval – Instaloan ensures fast real-time approval within seconds immediately after the verification is done completely.

• Small loan amount- An immediate personal loan is a small cash loan availed for a shorter term. The instalments are affordable and so is the repayment within a limited tenure.

• Paperless documents – As all the loan processing is digital on instaloan apps, paperless verification is the way to validate a borrower’s profile. Mandatory documents are accepted in a paperless format for instaloan processing.

Eligibility criteria and documents while applying for a personal loan using instaloan app

• Borrower’s age should be between 21-58 years
• Borrowers should earn a minimum income of Rs.15,000 monthly
• Borrowers should submit last six months bank statement
• Borrower should be an Indian citizen

Documents required for instaloan app

• Identity proof like Aadhar card/Smart card driving license/PAN card is mandatory.
• Address proof verification with utility bills/ voter id/ Aadhar card
• Other important documents required by the lender will be your personal and professional details like the company’s name, company address, your profession, income, years of experience etc.

How to apply for personal loan using instaloan app

• Install the app from Google Play Store
• Register with email id and mobile number
• Fill in the application form and submit paperless documents for verification
• EMI Calculator helps to flexibly set monthly instalments
• Personal loan approval status is immediately shown in the app, followed by the disbursal process in few hours.

Hence, instaloan apps are not only simple and quick but can be applied from any location, at any time with just few simple clicks and the loan amount will get disbursed instantly into your registered bank account.