Get Instant Cash Loan in 1 Hour Without Documents: Interest Rate and Eligibility
Are you in any emergency cash crisis and in need of an instant cash loan in 1 hour without documents? Thanks to advancements in the lending sector, you can now get instant cash loans up to ₹20 lakh with minimal documents at attractive interest rates and flexible EMI options. With 1 hour loans available, you don’t have to turn to anyone.
Now, let’s understand what instant cash loans are, and how you can get a loan in 1 hour.
Instant Cash Loan Details
Refer to the table below to understand instant cash loan interest rates and fees and charges.
| Interest Rate | 9.9% p.a.* onwards |
| Loan Amount | Up to ₹20 Lakh |
| Loan Tenure | Up to 72 months |
| Processing Fee | Nil – 4% of the loan amount |
Instant Cash Loan in 1 Hour: Features and Benefits
Here are some of the features and benefits of instant cash loans:
1. 100% Paperless Process
Most instant cash loan providers follow an app-based loan application to disbursal process. This completely eliminates the need for paperwork.
2. Instant Disbursal
Just download the app, enter a few basic details, apply and you will get the desired loan amount disbursed to your account within minutes.
3. Attractive Interest Rates
Enjoy competitive interest rates with fast cash loans. However, the final rate offered depends on your eligibility and could vary from lender to lender.
4. Flexible Repayment Tenures
Enjoy flexible repayment tenures of up to 72 months. Choose your preferred tenure and repay the loan at your convenience.
5. Minimal Documentation
Gone are the days when you had to submit a bag full of documents. Lenders like Navi ask for minimal documents – PAN or Aadhaar to process your loan.
Also Read
How to Apply for an Instant Cash Loan without Documents?
Given below are the steps to apply for an instant cash loan without documents from Navi:
- Step 1: Visit the lender’s website or app and go to their cash loan section.
- Step 2: Enter basic details like your name, address, PAN, etc. and check your loan eligibility.
- Step 3: Select the loan amount and preferred repayment tenure.
- Step 4: Complete your KYC verification via phone call or video call – it hardly takes a few minutes.
- Step 5: Link your bank account and get the amount disbursed to your account within a few minutes.
Interest Rate and Other Charges on Cash Loan
Refer to the table below to understand
| Interest Rate | 9.90% per annum onwards |
| Processing Fee | 0% – 4% of the loan amount |
| Loan Prepayment Fee | Nil |
Calculate Your Cash Loan EMI
Calculating cash loan EMI in advance can help you plan better. There are two ways by which someone can calculate their cash loan EMIs–by manual calculations and by using an online EMI calculator:
The formula for manual calculation for EMIs is as follows:
EMI = P × r × (1 + r)^n/((1 + r)^n – 1)
Where, P= Loan amount
- r= interest rate per annum
- n= tenure in the number of months
But, manual calculations are time-consuming and prone to errors. An online cash loan EMI calculator is a better alternative. These calculators are designed to provide accurate results within seconds. All you need to do is insert the loan amount, tenure and interest rate to get results.
Calculate Your Cash Loan EMI
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Months)
months
Monthly EMI
0
Total Interest
Total Amount
Documents Required for Instant Cash Loan in 1 Hour
| Salaried | Self-employed | |
| Identity Proof | PAN, Aadhaar, driving licence, Voter ID, etc. | PAN, Aadhaar, driving licence, Voter ID, etc. |
| Address Proof | Aadhaar, driving licence, ration card, etc. | Aadhaar, driving licence, ration card, Registered office/business address proof, etc. |
| Income Proof | Last 3 months’ salary slip | Last 6 months’ bank account statements |
However, if you’re applying for an instant cash loan through the Navi app, you just have to show your PAN and Aadhaar to complete your KYC. If your personal details are correct, the eligible amount could be disbursed within a few minutes directly into your account.
Instant Cash Loan Eligibility Criteria
| Nationality | Indian |
| Age | Above 18 Years |
| Type of Employment | Salaried or Self-employed |
| Income | Minimum: Rs 10,000 per month |
| Credit Score | 650 and above |
Final Word
Instant cash loan can aid your financial requirements during an emergency. You can use such loans to fund your wedding, travelling, pay medical bills, etc. However, make sure that you are providing all the correct details to the lender. Any sort of incorrect information could lead to loan rejection.
FAQs
Ans: Your credit score reflects your creditworthiness. If your credit score is below 600, either your loan application would be rejected or you have to pay a heavy interest against your loan.
Ans: Yes, you can certainly prepay your loan before the scheduled tenure. However, you need to check with your lender if you have to pay loan foreclosure charges. Usually, lenders don’t charge prepayment fees for floating-rate loans.
Ans: You can repay your loan in easy EMIs or Equated Monthly Instalments. Use an online cash loan EMI calculator to check your repayment obligations. Also, to avoid any hassle, set up an auto-debit so that every month your EMI amount gets auto-debited from your account on the due date. However, ensure that you have sufficient balance in your account so as not to miss your monthly repayment obligations.
Ans: If you fail to pay your EMI multiple times, the lender might levy a penalty fee. Other than that, it could put a dent in your credit score as well. This could hamper your chances of getting any line of credit in the future.
Ans: You can get an instant cash loan with minimal documents. For instance, with Navi, you would need a PAN and Aadhaar Card to complete your loan application. You don’t need to submit any other proof like bank statements, salary slips, etc., to get an instant cash loan from Navi.
Before you go…
Looking for instant 🚀 personal loans 24*7 anywhere, anytime? Get personal loans up to ₹20 lakh starting at 9.9% p.a. Install the Navi app now!
Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
Explore Personal Loan Offers in Your City
