How to get a Personal loan in one dayA few decades ago, a personal loan was not a common idea and people used to hesitate to apply fora personal loan, for the only reason that it had a complicated and rigid loan patterns which used to take more than a week for approval and disbursal of personal loan.
With the advancement of internet and software technology, many progressive financial institutions and NBFCs recognized the need for a digital platform for loan applications and that’s when instant personal loan apps emerged as a helping hand for many borrowers in India.
Instant personal loans are small cash loans generally approved and disbursed the same day of a loan application. It is truly a boon for those in need of urgent finance. After the submission of application and verification, the loan amount is disbursed within a day directly into the borrower’s registered bank account.
It is termed an instant personal loan simply because it is a loan facility that is disbursed on the same day. So, what’s better than having instant loan power in your hand that can be accessed at a click via smartphones?
SimplyCash, by India’s financial giant HeroFinCorp, is the latest instant loan app that enables loan disbursal within 24hours. Borrowers can rely on SimplyCash to raise a sum between Rs.50,000 to 1.5 lakh on an immediate basis. Ensure you are eligible for a personal loan before submitting the application.
Eligibility criteria and documents to get a personal loan in one dayGetting a personal loan in a day is not a tedious task as the eligibility and documentation can be checked online in seconds.
- Borrower’s age limit should be between 21-58 years
- A borrower should be a resident of India
- A borrower should either be a salaried or self-employed person with a minimum monthly income of Rs.15,000
- Borrowers should have professional stability that is reflected in their work experience
Required documents to get an instant personal loan in one dayInstant personal loan apps follow a paperless format for document verification. Keep your KYC details handy to proceed:
- Enter Aadhar card and PAN card unique number for KYC verification
- Enter job/company details
- In the absence of Aadhar/PAN, use Passport or Smart card driving license details
- Submit the last 6months of salary slip or bank statement of an active bank account
How to apply for a personal loan in a day via SimplyCashOnce you are sure of being eligible for an instant personal loan, go ahead with availing personal loan on the same day:
Step 1: Download the Simply Cash app from Google Play Store
Step 2: Click on ‘Get Started’
Step 3: Register using your email id / mobile number, verify using OTP
Step 4:In the EMI calculator, enter the required loan amount and view the repayment amount with duration in months precisely. You can use the slider to change the loan amount to get a different EMI.
Step 5: Click on Apply for a Loan and Enter your Aadhar based KYC registered to your mobile number
Step 6: 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.
The repayment amount includes a processing fee of 2.50% of the loan amount and EMI gets processed on the 8thof every month. View the list of cities to confirm the Simply Cash presence in your city.