Small Loans Online: How to get Instant Cash Loans?
Last updated: Jul 26, 2021, 03:09 AM ISTEarlier personal loans did not have many variants. It was just an original personal loan that was made available to the borrowers for their financial needs. Now that the times have changed, personal loans have extended their category to long-term loans, small cash loans, instant cash loans, etc. Small loans online are one of the most sorted loans helping with instant cash and easy approval. Over the years, small cash loans have been popularized considering short-term loan requirements for different financial purposes. Whether it is making an urgent down payment, paying the pending medical bill or clearing the tuition fees for education, etc. any small loans online can be managed online in just a few simple steps.
The first thing that borrowers should act on for small cash loans is a credible instant loan app helping with small cash loans. One that is like SimplyCash! Yes! This is the latest instant loan app encouraging small cash loans online. So, whether it is about a small expense that requires urgent funds, a small cash loan online is an ideal buy to cope up with immediate expenses.
Generally, the interest rates for small cash loans are observantly lower and affordable ranging from1% - 3% per month, including processing fees plus GST charges. Some lenders also evaluate your CIBIL score before approving the small cash loan, based on the creditworthiness your interest may get higher or lower. SimplyCash is a suitable instant loan app for small businesses to get personal loans up to Rs 1,50,000. Instant loans are quite similar to emergency loans that eliminate all the extra formalities of quick loan approval. Once your eligibility is verified, the loan money will be credited to your bank account within 24 hours. Download SimplyCash available freely on Google Play Store.
Benefits of Small Loans Online
The instant loan background is also helpful for sudden financial problems. Below are some of the advantages of instant cash loans:
- Low on risk as compared to long term loans as the amount to be repaid is less
- Resolves sudden cash issues with 24 to 48hours
- No restrictions on how you can use the loan amount
- Formalities and documentation are minimal that enables quick approval
Documents and Eligibility Criteria for Small Cash Loans
Confirm the eligibility criteria to avoid loan rejection:
- Borrower must be a citizen of India
- Borrower must be working in/with either private or public sector
- Borrower must fall in an age group of 21 to 58 years
- Borrower must earn at least 15,000 per month
Standard KYC documents - Aadhar card, Smartcard Driving License, PAN card
Income documents – 6 months bank statement of salary account for salaried & 6 months statement of bank account with most transactions
A loan application can be submitted from anywhere , all thanks to the secured loan app making loan disbursal quick and easy.