When you need urgent money for unexpected expenses, you may resort to applying for a loan. In such cases, if you opt for a traditional loan, you may have to go through the tedious task of collecting and submitting all documents. It is nothing less than a hassle to fill out forms and do lots of paperwork when facing a financial emergency. But what if you could get a loan without this hassle of paperwork? That’s where a no-paperwork loan comes into the picture.
In this blog, let’s talk more about no-paperwork loans, also called paperless loans, the benefits of availing them, and how to get an instant personal loan without documents.
Instant Personal Loan Without Documents
An instant personal loan without documents refers to getting instant money without hard copies of documents or physical papers. The whole process happens online, from applying to getting the loan amount in your bank account. You just need to complete your KYC and provide basic details. Once approved, the cash is transferred straight into your bank account, usually within minutes.
Eligibility Criteria For Getting an Instant Personal Loan Without Documents
The eligibility criteria to get a personal loan without documents vary from lender to lender. With CASHe, the criteria to get an urgent cash loan without documents include:
- Age: You should be at least 21 years of age
- Income: Should have a minimum monthly income of ₹25,000, whether you are working for a company or running your own business
- Credit Score: Must have a good credit score, usually between 650-700 to get the paperless loan
- Bank Account: Should have an active bank account
- Citizenship: You should be an Indian citizen
Advantages of Getting a Personal Loan Without Documents
Getting a loan without paperwork offers many advantages. Some of the important ones include:
- Quick Process: As the process is 100% online, the approval is much faster compared to traditional loans.
- No Hassle of Paperwork: You do not need to collect salary slips, bank statements, or ID proofs in physical form.
- Anytime, Anywhere Access: You can apply for the loan from your phone without visiting a bank or office.
- Instant Disbursal: Once approved, the money gets credited to your account in a few minutes.
- Safe and Secure: Trusted lenders like CASHe use secure platforms to keep your details safe.
How To Apply For a Personal Loan Without Documents
Getting a personal loan without documents is not really difficult. With CASHe, you can get one with the following steps:
Step 1: Download the CASHe App from Google Playstore or App Store.
Step 2: Create an account using your mobile number.
Step 3: Fill in basic details.
Step 4: Complete the KYC process.
Step 4: Select the loan amount and repayment tenure as per your needs and requirements.
Step 5: Review and submit the loan application.
Step 6: Wait for the lender to approve your loan without documents.
Step 7: Once approved, get funds instantly in your bank account.
Tips For Getting a Personal Loan Without Documentation
Here are some useful tips for you when applying for a personal loan without documentation:
- Maintain a good credit score as it improves your chances of quick approval.
- Keep your KYC details updated from your Aadhaar and PAN to your bank details.
- Do not take more than you can repay comfortably.
- Make sure you repay on time. Timely repayment would help you avoid penalties and enhance your credit score.
Conclusion
If you are looking for a quick and hassle-free way to get instant funds, then opt for no-paperwork loans. With zero paperwork and a simple application process, you can get the urgent cash required instantly.
Now, if you are looking for better interest rates and good loan terms on paperless loans, then sign up for CASHe loans right away. CASHe offers instant personal loans without documents that can be used to fund travel, higher education, medical emergencies, home renovation, weddings, and more.
