Instant loans in India were just a dream for applicants a few years back. But now, it is a reality because of PayMe India. Getting an instant loan is no longer a hassle as the entire process is online. So there is no need to spend hours in the physical branches of lenders or wait much for loan disbursement. However, there may be questions and confusion regarding the process and criteria to get instant loans in India.

Why should you apply for an Instant loan?

Many times such situations come that you suddenly need money and you do not have that many savings. In this situation, you have to borrow money from someone. But, now, in such circumstances, there is no need to borrow money from anyone. Instead, you can take a loan from the bank without any hassle.  Nowadays, anyone can apply for such loans. For this, you do not have to go to the bank, do not have to submit any file, and no guarantor is required.

get instant loans

The unique thing about this loan is that it gets approved in just 10-15 minutes, and the money is credited to your account within a few minutes. If you need cash anytime in 24 hours, you can easily take this loan in a few minutes. Now, this facility is being given by most banks so that you can take advantage of it from your bank. Let’s discuss how to get instant loans and how you can get money in a few minutes.

Benefits of taking an Instant Loan

We can call this type of loan an instant loan. And in many banks, this facility is given in the name of a pre-approved loan. These loans are provided for a limited period only. Like you can take one lakh rupees, and you can repay that money in 2 years. The remarkable thing is that there is no lengthy process to get instant loans, and you can take this loan anytime when required, and the money comes into your account within a few minutes. There is a limit to this loan. And it decides to approve loans on a per-account basis. You can also know your limit through an online application.

How can I take this loan?

The process of getting this loan is online only. You do not need to go to the bank. In such a situation, you can complete the process and get instant loans by visiting the official application or website.

However, you may not get the necessary insight that a comparison of lenders will give you. Hence you would need a credit decision platform to find multiple lenders in one place and compare their loan criteria. And PayMe India is the most suitable option to do so. It is a credit decision platform for top-rated banks and NBFCs in India. Here you will be able to find the most competitive rates of interest and various repayment tenures that will make your EMI affordable.

What is the entire process of getting this type of loan?

  • For this, first of all, go to the official mobile application or website.
  • After landing on the page, you have to check their eligibility criteria.
  •  After that, log in to the website.
  • Then it would help if you go through the option of Instant Loan, and you will come to know about your limit, the amount of loan you can take.
  • After that, you need to fill out the required information and complete the process through OTP.
  • Now you have to submit the application process by uploading the legal documents.
  • If you initially qualify for the loan, you will be notified of instant approval.
  • In this, you have to select the installment system to give a loan for between 6 months, nine months, one year, or two years.

Documents Required to get Instant Loan

The online application process of an instant loan in India will require minimum documents.

  •  Pan card
  •  Aadhar card or voter ID card.
  •  Bank account details.
  • Income proof such as current payment slip, bank details, etc. 

Eligibility Criteria

Now you can ask questions about PayMe India eligibility criteria after going through the application process, so here it is. To get instant loans in India, you have the following requirements to find the eligible applicant for the loan.

  •  You must be an Indian citizen.
  • Your minimum age should be 21 years, and the maximum age should be 58 years.
  • You must be either a salaried individual or a self-employed individual.
  • For salaried people, the lowest income requirement is Rs. 12,000 per month. And for self-employed people, it is Rs. 25,000 per month.
  •  A good credit score will be helpful.
  • Any lapse in the last 24 years is not acceptable.

Conclusion

Get instant loans in India through PayMe India will take 15 to 20 minutes if you have all the information and documents available. And by going through the above steps, you will complete the application process. If you have any questions regarding this process, please let us know through the comments section.

By Darbaar

Anurag Rathod, as a blogger he used to spread all about app-based business, startup solution, on-demand business tips and ideas and so on.

Leave a Reply

Your email address will not be published. Required fields are marked *