Instant Cash Loans with No Paperwork in India

Instant Cash Loans with No Paperwork
in India
Demonetization has completed more than a year in India. The historic
announcement of demonetization of ₹500 and ₹1000 banknotes of
Mahatma Gandhi series on 8th November 2016 has brought lots of
panic among Indians all over the country. There were endless queues
in front of ATMs which continued for several weeks. But along with
the passing time, the Indian economy gradually turned towards more
and more cashless transactions. People started preferring digital
money over currency notes. Not only are the monetary functions,
nowadays most of our work is done digitally without
paperwork. Personal loans are also one of them.
Personal loans have changed it’s entire appearance along with the
changing time. Gone are the days when people had to stand in queues
to apply for a personal loan. The second decade of 21st century is the
era of instant cash loans. Digitalization has transformed all the
processes so very easy to access that the personal loans are now only a
few clicks away. Online personal loans can be applied and sanctioned
online by using the website of the financial institution.

How to apply for Instant Loans?
Applying for an instant loan has become very easy and one can do it
on the go. An applicant can easily fill up the online loan application
form and upload the required documents. After submission of the
online application and the required documents, the financial institution
does the credit checking by using the credit score and sanctions the
loan according to the eligibility of the applicant. A personal loan
while applied through an online portal is much easier as compared to
the conventional system of availing a loan. An applicant of
conventional loan has to visit bank to bank in search of the best offer
available, then standing in a long queue for meeting the bank workers
to apply for a loan and again either visiting bank numerous times or
calling them up to get the status of the loan. An online paperless loan
can save much of effort and time which a loan aspirant had to invest a
few decades back in order to make his loan get granted.
The Eligibility Criteria for a Paperless Personal Loan
There are some certain criteria which every financial company fixes to
find if the applicant is fit to be chosen or not. Here are some criteria
which a very renowned NBFC Finance Buddha has fixed to determine
the eligibility of an applicant for online loans. An Instant personal
loan can be applied by any person if he /she fulfills the mentioned the
given criteria.
An applicant must be more than 21 years and less than 60 years at the
time of applying. The minimum annual income of the applicant must
be more than ₹ 400,000 for salaried and ₹ 600,000 for self-employed
applicants. A salaried applicant must have at least two years of work
experience with the present employer whereas a self-employed
applicant must prove 5 years of turnover.

Documents Needed To Upload
As the name suggests, there is no paperwork done from applying to
disbursal of an online loan. All one need to do is the uploading of the
scanned documents. Here is the list of the documents which one need
to upload.
Identity Proof
PAN card, Adhaar Card, Driving License, Voter’s ID, Govt. issued ID
cards.
Address Proof
Passport, Driving License, Election ID card, Electricity/ Telephone/
Mobile bill
Income Proof
Bank statement (not more than 3 months old)
Age Proof
Birth Certificate, PAN card, Adhaar Card, Driving License
Certificate and Proof Of Business Existence (applicable only to the
self-employed persons)
PAN card, sales tax/ excise/ VAT/ service tax registration.
Once the uploading of the documents is done successfully, it will take
no time in sanctioning the loan. After the loan sanctioning an
applicant has to do the e-signature on the loan sanctioning documents
and that all one has to do. The loan amount will be disbursed to the
bank account of the applicant immediately. An applicant can get the
loan amount in his bank account within 24 hours of applying.

Furthermore-
Along with the hassle-free process of the loan, there are many other
advantages of an Insta Loan which is an exclusive product of Finance
Buddha. An instant personal loan without documents is the fastest way
of getting a personal loan. It takes only one business day to disburse
the loan amount. Moreover, an online loan assures the privacy of the
applicant. The financial institutions are never allowed to share the
sensitive information of any applicant to the third party. A paperless
personal loan saves a lot of time of the loan applicant. A loan can even
be sanctioned and disbursed without visiting the branch office for a
single time.
The concept of paperless loan has come into the force after the
Government’s push to Digital India. With the emergence of paperless
personal loans, the loan process has become hassle-free, smooth and of
course, disbursed faster than conventional loans. Now you can have
immediate personal loan with no paperwork required from anywhere as
per your convenience and in no time the loan will be disbursed into
your account. This is one of the area, which technology has changed
radically and for good. But just because it is easily available that doe s
not means you should avail it. If your requirements are justified, feel
free to make use of the instant personal loan facility. Happy
Borrowing!