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You can get an immediate loan by applying for an instant loan online. Immediate loans are offered numerous online loan portals, digital lenders, peer-to-peer lenders, NBFCs and banks.
Use CreditMantri - India’s no.1 loan comparison portal - to find the best instant loans matched to your credit profile. Select your preferred loan and complete the loan application process online all from CreditMantri.
Instant loans are short-term loans that can be used as an urgent financing solution. Here are some of the noteworthy features of instant loans:
- Paperless approval process: As compared to traditional loans, instant personal loans online require all the documents for KYC to be uploaded online. This makes the entire transaction paperless. For pre-approved loans, there is minimal or nil documentation requirement.
- Collateral-free: An instant or immediate personal loan is usually unsecured. Hence, you will not have to provide any security or collateral for availing the same.
- Instant cash: For immediate fund needs, an instant personal loan can prove to be beneficial since the funds are usually disbursed promptly, sometimes within a matter of few hours.
- Flexible loan tenure: An instant personal loan generally offers a flexible loan tenure. You can choose a repayment schedule at your convenience depending on the lender’s terms and conditions.
- Flexible loan amount: You can choose a loan amount of their preference while applying for an instant loan. However, the minimum and maximum loan amount may differ across lenders.
- Reasonable interest rates: If you have maintained a good credit score, you can get an instant loan at an affordable interest rate. This can bring the overall loan cost down and benefit you in the long run.
Instant or immediate loans must be used only when you cannot arrange any alternative fund source. Since these are unsecured loans, these may affect your financial profile if used frequently.