How to Apply for Instant Cash Loans in Bangalore – Interest Rates & Eligibility
Bangalore is a buzzing metropolis and a hub of the Indian IT industry. Being a metropolis the city has a fast and expensive life with a high standard of living. While you can live comfortably, when a financial emergency strikes, you might need additional funds to tide over such emergencies. This is where instant cash loans come into the picture.
What are Instant Cash Loans in Bangalore?
Instant cash loans are nothing but cash loans in Bangalore which allow you instant funds for your financial needs. You can avail of cash loans in Bangalore for any financial obligation that you might have such as meeting a medical emergency, planning a trip, planning a wedding, sudden financial needs, etc. Cash loans in Bangalore are unsecured loans that can be availed instantly simply based on your financial standing.
You can avail cash loans in Bangalore through Navi. Download the Navi app and get started.
Instant Personal Loan in Bangalore Details
| Loan Amount | Up to ₹20 Lakh |
| Interest Rate | 9.9% to 45% p.a |
| Foreclosure Fee | Nil |
| Tenure | Up to 72 months |
Navi offers instant Personal loan in 5 minutes in Bangalore through its mobile app. The steps to apply for immediate cash loans in Bangalore through Navi are as follows:
- Download the Navi app from Google Play Store and register on the app using your mobile number
- Once you are registered, click on ‘Apply’ to apply for an instant loan in Bangalore
- When you apply, Navi asks for some simple details which you need to provide. These details include the following:
-Your full name as mentioned on the PAN Card
-Your completed age
-Your marital status
-Your PIN Code
-Your employment details
-Your income level
-Your PAN Card number - Once you submit the application details, your form would be verified by Navi and your credit score would be checked. The whole process from downloading the App and getting approval takes about 10 minutes.
- Navi would, then, approve a loan amount based on the details you have provided.
- You would, then, have to choose the amount of loan that you need and the EMI that you want to pay
- For your KYC details, click your selfie in the App and enter your Aadhaar card number along with the names of your parents
- Provide your bank name and IFSC code. Also, set up an Auto Debit Mandate in your bank account for easy repayment of the EMI
- Once Navi verifies your details, your loan would be sanctioned and you would get the funds within minutes.
Let’s study the features of the instant cash loan in Bangalore and the benefits that you can avail of by applying through Navi:
- You do not need to pledge collateral security or arrange for a third party guarantee to apply for the loan
- Loans from Rs.10, 000 to Rs.5 lakhs are allowed instantly by Navi
- Navi does not have any specific eligibility requirements. It checks your eligibility through a technology-based model and then approves your loan
- You don’t have to submit any documents to apply for Navi’s cash loans. Just the numbers of your PAN Card and Aadhaar card should be entered.
- Navi charges a reasonable interest rate on the loan and also offers a flexible repayment tenure so that you can pay off the loan without incurring any financial strain
- There are online loan EMI calculators that you can use to find out the EMI payable for the loan that you want to avail of. You can change the loan amount and/or the repayment tenure to find the best EMI which would be affordable and help you pay off your loan easily.
- Navi offers an instant cash loan in Bangalore which helps you meet financial emergencies without any difficulty
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Eligibility Criteria for Availing of the Best Cash Loans in Bangalore
To avail of a loan from a financier in Bangalore, here are some eligibility parameters which you would need to fulfil:
| Age criterion | The minimum and maximum ages for applying for an instant loan in Bangalore are 18 years and 65 years respectively. For some lenders, the age bracket might change and the minimum age limit can be increased to 21 to 25 years |
| Occupation criterion | You should be a salaried employee or a self-employed individual to avail the loan |
| Income criterion | You should have a minimum income, as specified by the lender, to apply for cash loans in Bangalore. The minimum income level varies across lenders and you should check it when applying for the loan |
| Credit score range | Your credit score for a cash loan should be at least 650 and above |
However, the key aspect to be noted here is that Navi follows a technology-driven model to approve loans and there are no fixed criteria to approve loans.
Calculate Your Cash Loan EMI
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Rate of Interest (P.a)
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Total Interest
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Documents Required for Cash Loans in Bangalore
To avail Bangalore loan, the following documents would have to be submitted –
- Identity proof
- Income proof
- Age proof
- Address proof
- Bank statements
- Recent coloured photographs
Usually, you can submit your Aadhaar card and PAN Card which serve as identity, age and address proofs.
However, in the case of Navi, an instant cash loan in Bangalore can be availed through your smartphone only with your Aadhaar and PAN card. No hassle with going through the scanning and uploading the documents. Just enter the number, validate and go ahead!
Final Word
To apply for an instant cash loan all you need is the Navi App. You can download the Navi app on your Smartphone and apply for a loan from anywhere in India. So, whether you stay in Bangalore or anywhere else in India, you can apply for an instant cash loan with some simple taps of your mobile phone screen.
Provide your details such as your name, age and occupation, PAN number and Aadhar number, click a selfie in the application itself and instantly submit your loan application. The credit team would instantly review your CIBIL score at the back to process your loan. Once your loan is approved, the funds would be transferred within minutes to your bank account, so that you can easily fulfil your financial needs. The entire process would take about 10-20 minutes only!
So, if you need the best cash loans in Bangalore, you can get the best deals with Navi. Download the Navi app and get instant loans for your financial needs.
FAQs
Ans: The loan repayment tenure depends on the lender. If you choose Navi, you get repayment tenures of up to 36 months to repay the cash loan that you have availed yourself.
Ans: Yes, you can avail of an instant cash loan in Bangalore for your child’s education because the loan is a multi-purpose loan that can be used for any financial needs that you have.
Ans: Cash loans in Bangalore are repaid in the form of Equated Monthly Instalments (EMIs). You have to pay the instalment every month over the chosen repayment tenure. This instalment contains both the interest and the principal loan amount.
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