An overview of same day loan in Delhi/NCR

by credit bazzar Instant payday loan in as short as 15 minutes

It happens many of the times, when sudden and urgent money need knocks our door and we don’t have the sufficient cash in hand. Such type of things can happen with anybody in the form of medical emergency, vehicle or house repairing, delay in salary, etc. It becomes really difficult for you to get the quick money in such situations. Even if you apply for the loan in traditional financial institute, it takes few days for the approval. There are certain situations, in which you cannot wait for the money to arrive even for a day. Well, you don’t need to worry now. There are private financiers, who are providing same day loan in Delhi/ NCR. You just need to apply for the loan, most probably by means of internet, there will be a quick approval process and the amount you have applied for will be credited to your account within few hours. These loans are mostly the payday loans. Let’s try to know more about this type of loan.

Who can apply for same day loan?

The person applying for the loan should be an Indian citizen of age 25 or more. The person must have a fixed source of income in the form of salary. In other words, we can say that the person should be a salaried employee. If you fulfill all these requirements, then you can apply for the same day loan.

What is minimum salary limit?

The minimum salary limit for getting same day loan at Delhi/NCR varies from lender to lender. However, most of them need you to have salary around Rs. 25000. Those who have lesser salary or are not salaried employees can apply for other types of loan which are suitable to them or for which they are eligible.

How much amount can be provided as loan?

The amount provided as a same day loan depends upon the salary you draw every month and your capacity to repay the amount. It generally varies between Rs. 10000 to Rs. 50000.

The conditions in which your application can be rejected

Although, the approval process of same day loans is very simple, there are certain conditions in which your loan application can be rejected. If you have too many debts to be paid, if the financier finds you are not capable of repaying the amount or if you do not fulfill any of the eligibility criteria then you can be disqualified and can’t get the loan.

How much time is required for the approval?

As the name suggests, time taken for the approval of the same day loan is just an hour or two. Once you submit your application form and necessary documents including salary slips, recent banks statements and identity proofs, they will quickly analyse everything and approve the loan. The amount of the loan gets credited to your bank account as soon as it is approved.

Few other details

The repayment time for same day loans is of 3 months. You can even pay it earlier if possible depending upon the terms and conditions. The interest rates applied on the amount are fixed. They are set based on the amount you are borrowing and the repayment term.

This is all about same day loans, which are very useful in the time of financial emergency.