How to Get Urgent Cash Loan without Documents Online in India?
An urgent cash loan without documents is a quick and easy solution for individuals in need of sudden financial assistance. This loan does not require heavy paperwork and is instantly disbursed, making it one of the most convenient loan options. Urgent cash loans are also unsecured, which means you do not have to pledge collateral.
Let’s know how to get an urgent cash loan without documents, its features, benefits, eligibility criteria and other useful details. Read on!
How to Avail Urgent Cash Loan Without Documents?
Here are some popular ways to avail of an urgent cash loan without documents:
1. Credit Score
A good credit score is crucial to securing an instant loan without documents. It indicates your creditworthiness and gives the lenders assurance of your loan repayment capacity within the stipulated time. Extending any debts can bring down your credit score. You can maintain a good credit score by repaying your debts on time and by avoiding defaulting on your EMIs and credit card dues.
2. Debt-to-Equity Ratio
If your debt-to-equity ratio is below 50%, it is an indicator of financial credibility. It ensures the lender of your repayment capacity and increases your chances of obtaining an instant loan without documents.
3. Relationship with the Lender
Maintaining a good relationship with the lender can help you obtain a paperless loan. You can also get a loan from the bank where you already have an account.
Features and Benefits of Urgent Cash Loan Without Documents
Listed below are some of the key features and benefits of an urgent cash loan without documents:
1. Fast and Convenient
Urgent cash loans without documents are disbursed instantly as these loans are designed to be quick and convenient. Within minutes, borrowers can receive the funds they need.
2. No Physical Documentation Required
Unlike traditional loans, urgent cash loans can be availed online and do not require cumbersome paperwork. Just enter the KYC details for verification.
3. Flexible Repayment Options
Urgent cash loans offer flexible repayment options, allowing you to choose a schedule that fits your budget.
4. No Collateral Required
Unlike secured loans, you do not need to put up collateral for an urgent cash loan, making them a great option for those without assets to secure the loan.
5. Confidential
The application process is confidential, allowing you to receive the funds you need without revealing sensitive information to friends, family or co-workers.
6. Easy Approval
Urgent cash loans often have a high approval rate, allowing you to get the funds you need quickly and easily.
Also Read
Eligibility Criteria for Urgent Cash Loan
The table below shows the eligibility criteria to apply for instant cash loans without documents:
| Age | 23 – 65 |
| Minimum salary | Rs. 20,000 per month |
| Minimum credit score | 650 or above |
| Nationality | Must be an Indian citizen |
| Employment | Should be employed for at least 6 months |
| Financial liabilities | Must have cleared all dues in the last 2 years |
Documents Required for Urgent Cash Loan
To get an urgent cash loan without documents, all you need to provide is your aadhaar card details. Your aadhaar card serves as legal proof of your personal details. Make sure that your aadhaar card is linked to your phone number and bank account.
How to Apply for an Urgent Cash Loan without Documents?
You can apply for an urgent cash loan without documents online. Follow the steps below:
- Look for online lenders that offer cash loans without documents
- Compare interest rates and terms to find the best deal.
- Check your eligibility by entering your personal details, such as age, income and employment status
- Enter the loan amount and tenure
- Enter your aadhaar card details to complete the KYC verification
- Enter your bank account details and set up auto-debit. Get the loan amount disbursed directly to your bank account within minutes.
Interest Rate on Urgent Cash Loan without Documents
The table below highlights the interest rates on urgent personal loans as charged by different lenders:
| Banks/NBFCs | Interest Rates (pa) |
| HDFC Bank | 11% onwards |
| SBI | 10.90% – 15.40% |
| ICICI Bank | 10.75% onwards |
| Axis Bank | 10.49% onwards |
| Kotak Mahindra Bank | 10.99% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC First Bank | 10.49% onwards |
| Bajaj Finserv | 11% onwards |
| Tata Capital | 10.99% onwards |
Final Word
Cash Loan without documents can provide quick financial relief in a pinch, but it also comes with higher interest rates and potential risks. It is important to carefully weigh the benefits and drawbacks, as well as explore other options such as borrowing from friends or family, or using a credit card before committing to this type of loan.
FAQs
Ans: You can get an instant loan without documents online. Visit the lender’s website or download a loan app. Enter your phone number and personal details to check eligibility. Next, enter the loan amount and repayment tenure. Link your bank account and set up auto-debit. Within a few minutes, you will get the loan amount in your bank account.
Ans: The eligibility criteria for an urgent cash loan without documentation varies by lender. However, here are the common eligibility criteria:
-Age – 21-65 years
-Nationality – Indian resident
-Employment – Salaried or self-employed
Ans: While some lenders do not charge processing fees, other lenders could charge processing fees, late payment fees, etc. It is important to carefully review the loan terms and conditions, including all fees and charges before accepting the loan offer.
Ans: The time taken to receive the loan amount depends on the lender and the loan application process. Some lenders claim to provide the loan amount within 24 hours of approval, while others may take longer.
Ans: Yes, the interest rates are higher for urgent cash loans compared to secured loans. However, it may vary depending on the lender.
Personal Loan in Your City
