Unexpected expenses create a lot of stress for people. A small personal loan of Rs. 10,000 can be availed to solve such a cash crunch. Urgent loans can be obtained with minimal documentation and quick approval. 

Top Lenders For Urgent Loan Rs. 10,000 
 

Lender

Interest Rate 

Amount 

Tenure

MoneyView 

Starting from 1.33% per month

Upto Rs. 5 lakhs 

Upto 60 months

Fibe 

Only Rs. 9 per day for Rs. 10,000 borrowed

Upto Rs. 5 lakhs 

3 to 24 months 

Cashe

2.25% to 2.5% per month 

Upto Rs. 4 lakhs 

Upto 1.5 years

KreditBee

1.02% per month onwards

Upto Rs. 4 lakhs 

2 to 24 months 

PaySense

16% to 36% APR

Upto Rs. 5 lakhs 

3 to 60 months

MyShubhLife

29.9%

Upto Rs. 5 lakhs 

1 to 4 years


What Are The Reasons For Taking A Rs. 10,000 Personal Loan?

  • Paying off debts
  • Creating a buffer for an emergency
  • Purchasing an expensive gadget
  • Planning a vacation
  • Paying for Education
  • Paying Medical bills

Eligibility Criteria For A Rs. 10,000 Personal Loan

The eligibility criteria for personal loans vary across lenders and the borrower's credit profile. Here are some of the essential eligibility criteria for a Rs. 10,000 personal loan. 

Age: The individual must be between 18 years and 60 years. Some lenders have kept the minimum age limit as 21 years for granting personal loans. 

Credit Score: Your credit score must be at least above 650. Many lenders may not require a good credit score for small loans such as a 10,000 personal loan, but it is always better to have a good credit profile. It will fetch you preferential interest rates, better loan terms, and high loan amounts. 

Income and Employment Type: Since a personal loan is unsecured, you must have a regular source of income to be eligible for a personal loan. Most financial institutions give personal loans to both salaried and self-employed individuals. The minimum income requirement for a Rs. 10,000 personal loan is not much and is Rs. 15,000.

Documents For A 10,000 Personal Loan 

You have to furnish a certain set of documents to banks or NBFCs before your application for the Rs. 10,000 personal loan is approved. Here is a set of necessary documents 

Identity Proof 

Either one of the following

  • Aadhaar card
  • Voter’s ID
  • PAN 
  • Passport 

Address Proof 

Either of the following 

  • Aadhaar card
  • Driving License
  • Voter’s ID
  • Passport 
  • Utility bill
  • Rent agreement 

Income Proof 
  • Latest salary slips (Usually the last 3 months’ salary slips are required)
  • Income return certificate
  • Latest Form 16

How To Get An Urgent Loan of 10000 Instantly? 

  • You can apply online to get a personal loan of Rs. 10,000
  • Right from loan comparison to loan application to KYC verification and loan disbursal,  everything can be done online from anywhere and anytime 
  • Go to a loan comparison website and enter your preferences.
  • You will get the list of top offers in the market according to your credit score. 
  • You can apply directly and immediately. 

Things to Consider Before You Avail An Instant Personal Loan

  • Interest Rate: The interest rate charged by the lender can affect the total cost of the loan. Thus, make sure to check the interest rate at which the loan is given before applying to a lender. If your interest rate is higher, you will have to pay more for the loan
  • Processing Fee:  Most banks and financial institutions charge a one-time processing fee from their borrowers. If your processing fee is high, the cost of the loan will be higher. 
  • Repayment Flexibility: You have to opt for an instant personal loan that offers repayment flexibility. You must be allowed to make prepayments or part payments towards the loan amount. This is especially important if you have an idea to pay off your loan before the tenure ends.
  • Default Penalty: If you do not repay the EMIs according to the schedule, the lender may levy a default penalty for that. Hence, shop around and compare the default charges specified by various lenders. 

Conclusion

10,000 personal loan is very easy to get and the eligibility criteria is also very flexible. The entire loan journey is digital and can be done anytime from anywhere. So, if you have any urgent financial needs, then you can just log into the official online portal of one of the lending platforms and apply for an emergency loan with a few clicks and taps. 

FAQs

1. What are the advantages of applying for an urgent loan 10,000?

The advantages of applying for an urgent loan 10,000 are that it is very easy and quick. You can complete the entire loan application process from anywhere and at any time, You don’t have to physically visit the lender’s office. Once the application is approved, the loan amount gets disbursed to your account. 

2. Which bank gives an urgent loan of 10,000 easily?

Many banks give an urgent loan Rs. 10,000 at attractive rates of interest. Some of the well-known banks such as Axis, SBI, ICICI, and HDFC offer instant personal loans according to the borrower’s convenience.