A handy guide to getting an instant loan online

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Today’s technology enables you to borrow money online by following the most basic of processes. Instant online loans offer you quick help to meet urgent or important financial goals or obligations. As long as you have an internet-enabled device and a stable network connection, you can apply for a personal loan anytime, anywhere. This makes it easy for you to borrow money online to meet urgent needs.

Apply on your lender’s website or app

To borrow money online, you first need to select your lender. To make the process of applying for quick loans hassle-free, check eligibility terms on various lender websites. Simply enter basic contact, financial, and employment information and use an eligibility calculator to determine if you are eligible for the loan.

For example, you can select your profile as ‘Employed’ and see the terms and conditions for a personal loan for salaried applicants. This step serves as the first round of the authorization check and can be completed in a few minutes. If you apply for a loan after you have met the specific terms of the lender, it will be easier and faster to get quick loans. You can also check the terms and conditions and use the calculators in various lenders’ apps and even apply through the app.

Choose personal loan variables such as amount and term

Don’t forget to tailor the loan to suit your financial needs. Two important parameters are your loan amount and the term. When choosing these, it is important to keep an eye on the repayment. To do this, calculate your EMIs with an online calculator. For example, if you choose the Bajaj Finserv personal loan, you can adjust your term and loan amount on a practical, straightforward and intuitive personal loan calculator. This will help you choose the ideal loan amount and repayment period so that you can pay EMIs on time while improving your credit score.

Prove your authorization with receipts

Once your application has been preliminarily approved based on eligibility, you will need to provide supporting documents for the lender to review your application. This process can be done online by simply uploading the required documents. Whether you want to apply for small loans or large sums, keep your documents to hand before proceeding with the application. This will further reduce the time it takes to borrow money online.

In most cases, you’ll need to provide basic KYC papers like a PAN card and passport, your proof of employment and income like an employee ID, pay slips, and bank statements. As soon as you have these documents ready, fill out the online application form and apply.

Withdraw funds to your bank quickly

Once the lender has reviewed your application and you get the green signal, all that’s left to do is to transfer the funds to your bank account. This process is usually quick. Top lenders deposit the amount with your bank within 24 hours of approval. This adds to your convenience when borrowing online for urgent needs.

Now that you know how to borrow money online, choose a lender who is known for their speed and ease of use. For example, Bajaj Finserv offers personal loans up to Rs.25 lakh with online approval in minutes and money in your bank within 24 hours of approval. With your convenience in mind, Bajaj Finserv allows you to repay your loan with a comfortable term of up to 60 months.

Additionally, you can use the Flexi Loan Facility for your sanction to further ease your repayment experience. This allows you to withdraw from your sanction several times as needed and only pay interest on what you use. In addition, you can pay interest only each month during the initial term of the loan and cut your EMIs by up to 45%. This can be of great help when you focus on your unplanned, urgent needs.

You can further expedite your application process by applying through pre-approved offers. Check out your Bajaj Finserv pre-approved personal loan offer today by entering some basic details and managing your urgent needs without breaking into your savings.

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