Same Day Small LoansLoans have become a widely accepted credit service and lenders flexibly offer same day small loans. But keep in mind these small loans are sanctioned on a higher rate of interest, though the flexible repayment tenure will give you some relief. As small loans are unsecured and collateral free loans, the risk of default payments can arise for the lenders.
Financial institutions witnessed the need for instant cash loans and so the service concept of same day small loans was introduced. Small cash loans are sanctioned the very same day via instant loan apps and official credit websites. Easy to follow eligibility criteria and minimal documentation make the same day loans more practically available.
One such digitize dinstant loan app, SimplyCash launched by HeroFinCorp, helps you to meet your urgent financial needs the same day in just few simple clicks. Borrowers can avail a personal loan amount starting from 50,000 to 1,50,000 at an affordable interest rate and low processing fees.
Features and Advantages of Same Day Small Loans from Simply Cash
When the need is urgent, you need the funds same day instantly. Know how can you benefit with the useful features of Simply Cash instant loan app making it possible to avail small cash loans promptly:
- Easy sign up & login- Instant loan app allows a simple login method on your smart phone.
- Quick disbursal- When applying for instant personal loan, the amount gets approved and disbursed immediately within 24 hours.
- Collateral free loan- No security or guarantor is needed when you avail small personal loans. This makes the loan processing faster with less formalities.
- Affordable interest rate- Starting as low as 1.67% per month, interest rate may differ and get better based on your credit score.
- No Physical documents required- In a digitized instant personal loan app, the required documents are paperless, minimal and hassle-free.
- Automated repayment method- Loan EMIs are deducted automatically from the borrower’s bank accountat fixed date every month. This ensures EMIs are paid on time without any delay.
When applying for an instant same day small loan, keep your KYC documents handy, inclusive of:
- Identity Proof- Aadhaar Card/Driving license
- PAN card
- Address proof- In the absence of Aadhaar Card, address proof becomes mandatory that includes passport/electricity bill/voter id
- Six months bank statement or salary slip for salaried individuals
Eligibility Criteria for same day small personal loan
- Must be in an age group between 21-58 years
- Must fall in a minimum monthly income bracket of Rs.15,000
- Credit accounts in any of the affiliated banks with SimplyCash