How Can I get an Instant 1 lakh loanAn instant loan proves to be survival support in times of emergency. Individuals in need of urgent money will look for a hassle-free mode of the loan application. Instant personal loan online is a convenient way to get short-term loans up to 1 lakh. It covers medical bills, education fees, extravagant wedding expenses, renovation, and repair costs. Small to medium-sized businesses can also opt for an instant loan of up to 1 lakh to fix the ongoing financial issues.
The procedure to avail instant 1 lakh loan is easy and fast through online loan apps. Whether it is a loan of 1 lakh or more, the apprehension of going to the bank and waiting for the loan amount to be sanctioned within days has been replaced by online instant personal loan apps.
SimplyCash is an instant personal loan app powered by HeroFinCorp. It is specifically designed to provide easy instant loans between Rs.50,000 - 1,50,000. The amount is available easily within minutes of approval. The procedure for availing instant 1 lakh loan amount involves paperless documentation and real-time verification. Once verified and approved, disbursal is done within 24 hours.
An instant loan of 1 lakh may be considered as a small cash loan, but an amount of 1 lakh can benefit the borrowers to meet various financial needs such as paying the rent, buying a consumer durable, renovation expenses, domestic travel, etc.
Documents Required for Instant 1 lakh Loan on your Smart Phone
Thanks to the instant personal loan apps, borrowers can avail of a personal loan of up to 1 lakh or more with ease. Paperless documents verification enables 1 lakh loan sanction on an instant basis. The online hassle-free documentation reduces the stress of physical loan applications. Submission of mandatory documents for an instant loan up to 1 lakh requires:
- Aadhar & PAN card is the first document when applying for an instant personal loan
- In the absence of Aadhar card, only Smartcard driving license can be used
- Other important documents include your professional and financial details inclusive of bank statements
- Your account should be in any of the accepted banks as suggested by the financial institution
Eligibility Criteria for Instant 1 lakh loan
It becomes essential that borrowers should fall under the eligibility criteria, especially while availing of a loan above Rs.50,000 or 1 lakh. The financial institutions make eligibility criteria mandatory for even small cash loans of 1 lakh for the simple reason that they do not want to take any risk of delayed payment or any kind of fraud. If you need an amount of 1 lakh loan, you should be eligible for the same.
- Age criteria: Applicant should be between 21-58 years
- Minimum monthly income for salaried: Applicant should at least earn a minimum amount of Rs.15,000 monthly
- Minimum monthly income for self-employed: Minimum earning should be Rs.15,000 monthly, and six months’ bank statement is compulsory
- Income proof: Six months bank statement of a salaried or personal account
How to apply for a Personal Loan of Rs.1,00,000
A personal loan of 1 lakh being an unsecured loan can be applied easily through an instant loan app. The loan application of a 1 lakh loan involves minimal documentation and no collateral which saves considerable processing time and gives the approval in minutes.
Follow the steps below to apply for a personal loan of Rs.1,00,000:
- Download the SimplyCash instant loan app from Google Play Store
- Register using your email id / mobile number, verify using OTP
- In the EMI calculator, enter the required loan amount and view the repayment amount with duration in months precisely.
- Verify your KYC details and income proof
- On real time verification of KYC details, the loan approval is given accordingly and later disbursal is initiated in the borrower’s registered bank account.
Even though a personal loan of 1 lakh is considered as a small cash loan, an amount of 1 lakh is not less to fulfil urgent financial needs. The repayment capability is measured and verified before allotting the loan amount. Hence, be cautious while applying for loan amounts, whether it is an instant loan of Rs.50,000 or 1 lakh, it should be cleared as EMIs in the stipulated period. If your credit score is good, you may get an advantage of a low-interest rate on a 1 lakh loan.
Q.1 Can I get a loan of 1 lakh?
A: Yes, you can get a loan of 1 lakh if you meet the lender’s eligibility criteria for personal loan approval. Borrowers can use the eligibility calculator online to check their eligibility strength for a 1 lakh loan.
Q.2 What is the interest on a 1 lakh loan?
A: The interest rate on a 1 lakh loan varies from lender to lender. As a personal loan of 1 lakh falls in the category of unsecured loan, the interest rate levied may be higher due to shorter repayment tenure.
Q.3. How can I get a 100000 loan?
A: You can get a 100000 loan quickly via instant loan apps online. SimplyCash is one instant personal loan app offering loans between Rs.50,000 to Rs.1,50,000.
Q.4. How can I get 1 lakh rupees fast?
A: If you have an emergency financial need of at least Rs.1 lakh, you can download an instant loan app and follow the loan application procedure to avail of 1 lakh rupees faster
Q.5. How can I get 1 lakh loan from SimplyCash?
A: SimplyCash is an incredible instant loan app by HeroFinCorp. It is available for download via a secured Google Play Store Platform. Borrowers can register at the SimplyCash loan app and complete the loan application procedure to avail of a maximum loan amount of Rs.1.5 lakh.
Q.6. How can I get 1 lakh fast?
A: You can get 1 lakh fast on the same day via instant personal loan apps online. Keep your KYC documents handy and apply for a small cash loan of 1 lakh through digital loan apps.
Q.7. How can I get a loan of 100000?
A: You can get a loan of 1,00,000 within 24 hours through personal loan apps online. Being collateral-free in nature, a loan of 1 lakh rupees can be approved in minutes of application.