How can I get an instant loan online in India?

In the current era of digitization, availing the facility of a loan is as easy as ordering groceries/food from your smartphone by easily sitting in your comfort zone at your home. Open your App Store/Play Store, and you'll find various instant loan online applications. But, the matter of the fact is that landing up on the right application is what helps you in the long run.

Undoubtedly, the ease and accessibility that financial applications offer has led to a healthier country in monetary terms. Gone are the days when people used to travel to banks to gain access to loans. 

What is an instant personal loan online?

It is a type of unsecured loan that offers an instant amount to the potential borrower in a fast and convenient manner. The whole procedure to avail this type of loan is entirely online, and as these loans are typically unsecured in nature, they do not require any collateral, such as a house or car, to secure the loan. 

This loan type generally covers unexpected expenses such as medical bills, vehicle repair, home renovation, or improvements. Once the borrower submits the loan application, the lender reviews the information and credit worthiness. After reviewing it thoroughly, they then decide whether to approve the desired loan or not. If the authority approves the loan, the funds are deposited directly into the bank account. 

What are its advantages?

• Speed

One of the topmost advantages of instant personal loan online India is that they are super fast and convenient. The overall application process is typically quick and easy, and one can quickly receive it within a few hours or days. 

• Convenient 

Applying for this kind of loan is convenient as one doesn't need to go anywhere. It's all about a smartphone and the right application on your smartphone without needing to visit a physical bank branch. So this makes it quite convenient, especially for those with a tight and busy schedule. 

• No Collateral

Unlike secured loans, which require collateral such as a house or car to secure the loan, instant loans are typically unsecured in nature. This basically means that one doesn't need to put up any assets as collateral to get the loan. 

• Credit Score Improvement

If the borrower makes timely payments on the instant loan online, it helps improve the credit score over time. This can be helpful if one wants to improve creditworthiness and qualify for other types of loans or credit.  

• Flexible

This type of loan can be used for a variety of purposes. It can include unexpected medical expenses, home improvements, to debt consolidation. The borrower is totally free to use it for any personal purpose.  

How to avail an instant cash loan online?

Nowadays, you are more powerful than you think if you have a smartphone. Without going anywhere, if you use the right application, you can easily access funds with just a few taps. For example, around two months ago, I was seeking extra funds to complete my residence renovation in Gurugram, Haryana. 

This was when one of my colleagues told me about Stashfin. This organization has applications for both iOS/Android and a website as well. The overall procedure to avail an instant loan from this platform is super easy, and they offer loans at zero percent interest rates. 

1. Download the loan app from the Play Store/App Store

2. Sign up using your mobile number

3. Add details to check your credit limit

4. Complete KYC and you are good to go!