Instant Cash Loan

An instant cash loan is designed to provide a streamlined and efficient borrowing experience. Here are the key features of Instant Cash Loan:

• Quick digital application: Apply online with minimal paperwork and receive an instant in-principle approval decision.
• Collateral-free: No security or guarantor is required, as the loan is unsecured.
• Flexible amounts and tenures: Choose a loan amount and repayment tenure that suit your budget.
• Transparent pricing: Interest rates and charges are disclosed upfront, with no hidden fees.
• Direct disbursal: Funds are credited to your bank account after successful verification and documentation.
• Flexi facility: Where applicable, a Flexi option offers more flexibility in borrowing and the EMI calculator helps you plan your repayments.

These features together make borrowing faster and easier to plan for.

Knowing the cost of borrowing upfront helps you plan repayments with confidence. Interest rates on an Instant Cash Loan start at 10.25% p.a.*, with the applicable APR shown at the application stage. A processing fee of 4% of the loan amount plus applicable taxes may apply. Any foreclosure, prepayment or bounce charges, if applicable, will be shared in the loan agreement before you accept the offer. Your final interest rate is not fixed for everyone. It depends on your credit profile, the loan amount and the tenure you select. A stronger profile can secure a better rate.

Keep the following documents ready when applying for an Instant Cash Loan:

• Identity proof: PAN card
• Identity and address proof: Aadhaar card
• Address proof: If additional address verification is required
• Income proof: Salary slips, bank statements or ITR, as applicable
• Photograph: Recent passport-size photograph, if required
• KYC documents: Any additional documents needed for verification

Eligible customers may be offered a minimal-documentation or pre-approved journey, subject to policy. Having these documents ready can help speed up the application process.

Applying for an instant cash loan online is simple and can be completed in a few steps:

1. Fill in your basic details: Enter your personal, contact and income information.
2. Complete digital KYC: Verify your identity through the required KYC process.
3. Upload the required documents: Submit PAN, Aadhaar and income documents, as applicable.
4. Review and submit: Check your details and submit the application for verification.
5. Receive the loan amount: After approval and sanction, the funds are credited to your bank account.

Since the complete loan application process is digital, you can apply conveniently online.

Before you borrow, it helps to know what your monthly repayment will look like. An EMI calculator estimates your instalment based on the loan amount, tenure and interest rate, so you can check whether the repayment fits your budget. Adjust the inputs to compare different scenarios and choose a combination that keeps your EMI within a comfortable range.

Several factors determine the size of your monthly EMI. Understanding them helps you plan a repayment you can manage comfortably.

• Loan amount and tenure: A higher loan amount increases the EMI, while a longer tenure can lower the monthly instalment.
• Interest rate: A higher rate generally results in a higher EMI and borrowing cost.
• Credit score and history: A stronger credit profile may help you get a lower interest rate.
• Income and existing obligations (FOIR): Lower existing EMIs can make repayments easier to manage.
• Processing fees and charges: These add to the overall cost of the loan.

Weighing these factors before you apply for an instant cash loan helps you settle on an EMI that suits your finances.