Get Instant Short-Term Loans – Anytime, Anywhere
Life can throw unexpected challenges your way – a sudden car repair, a medical emergency, or a bill that just can’t wait. Our short-term loans are designed to provide quick, hassle-free cash to help you bridge the gap. With fast approvals, flexible terms, and funds in your account as soon as today, we’re here to help you tackle life’s surprises with confidence
Instant cash loans, also known as instant personal loans, are short-term unsecured loans provided by banks, non-banking financial companies (NBFCs), and fintech platforms. These loans are designed for quick disbursement, often within minutes to a few hours, to meet urgent financial needs..
Why Choose Our Short-Term Loans?
Transparent Terms:– No hidden fees, no surprises – just clear, upfront costs.
Lightning-Fast Funding:- Apply online in minutes and get funds as soon as the same day.
No Collateral Needed:– Our unsecured loans mean you keep your assets safe.
Flexible Repayment:- Choose a repayment date between the 1st and 10th that fits your budget.
Loans for All Credit Types:– Whether your credit is excellent or less-than-perfect, we have options for you.
How Your Loan Journey Unfolds?
Apply Online:- Fill out our simple, secure application in just 5 minutes.
Get Approved Fast:– Receive a decision in as little as an hour.
Receive Your Cash:- Funds are deposited directly into your bank account, often the same day.
Repay with Ease:- Enjoy affordable monthly payments or pay off early with no penalty.
Eligibility Criteria
Eligibility criteria can vary slightly depending on the lender, but they generally focus on assessing the borrower’s repayment capacity, creditworthiness, and basic demographics. Below is a comprehensive overview based on common requirements across the market.
1. Age
Applicants must typically be between 21 and 60 years old. accept applicants as young as 19 up to 55 years. The upper limit ensures the borrower can repay before retirement age, while the lower limit complies with legal adulthood requirements.
2. Nationality and Residency
Must be an Indian citizen or resident. Non-resident Indians (NRIs) are generally not eligible for instant cash loans, though some banks may offer alternatives for them.
3. Income
Salaried individuals need a minimum monthly in-hand salary of ₹15,000 to ₹25,000, depending on the lender and location (higher in metro cities). Self-employed individuals must demonstrate stable income through bank statements or ITRs, with similar thresholds.
4. Employment Status
Salaried applicants should have at least 6 months of experience in their current job. Self-employed professionals or business owners need 1-2 years in the same line of work. Both salaried and self-employed are eligible with most lenders and some fintechs may accept freshers or those with shorter tenures if other factors (like credit score) are strong.
5. Credit Score
A good CIBIL score is crucial, typically 700 or above for approval. Lenders like IDFC First Bank require 730+ for their instant loan products. Lower scores may still qualify with higher interest rates or smaller loan amounts, but instant approval is less likely.
6. Debt-to-Income Ratio and Other Financial Factors
Lenders assess repayment capacity based on existing loans and obligations. Your debt-to-income ratio should ideally be below 50%. Loan amounts are capped based on income (e.g., up to 5-10 times monthly salary), with limits varying from ₹1,000 to ₹50 lakhs.
7. Documents Required
- Identity Proof: Aadhaar Card, PAN Card, Voter ID, Passport, or Driving License.
- Address Proof: Aadhaar, Utility Bills, Rental Agreement, or Bank Statements.
- Income Proof: Last 3-6 months’ salary slips, bank statements, Form 16, or ITR for the past 2 years (for self-employed).
- Employment Proof: Offer letter, company ID, or business registration documents.
- For instant loans via apps, e-KYC using Aadhaar and PAN is often sufficient, with minimal paperwork.
Additional Considerations
- Loan Purpose: No specific restrictions, but funds must be for personal use (e.g., emergencies, medical, travel).
- Factors Affecting Eligibility: City of residence (higher eligibility in Tier-1 cities), stable bank account, and no recent loan defaults. Pre-existing relationships with the lender (e.g., salary account) can fast-track approval.
- Regulatory Note: All lenders must comply with RBI guidelines, ensuring fair practices and no predatory lending.