Personal loans or unsecured loans are a form of credit that is required to meet the immediate needs of the borrowers. This loan is multi-purpose in nature and is flexible in use. You can apply for an instant personal loan for various purposes ranging from expenditure on weddings, home renovation, travel purposes and more. Also, you can use this loan to enhance your credit score. You can apply for an instant personal loan at any hour of the day through the loan apps without any hassle. This credit form is a one-stop solution for all the immediate cash requirements. There are numerous benefits associated with using a personal loan to meet your immediate needs. Keep scrolling to know the details:
Benefits of Availing an Instant Personal Loan
No Collateral Required
To avail of an instant personal loan, you do not have to mortgage any of your assets. No doubt, this can be a reason for your high-interest rate, but you can also avail low-interest personal loan if you meet all the eligibility criteria. You can easily avail an instant personal loan in just a few minutes through the loan apps.
Minimal Documentation
To avail of a personal loan through the loan apps, you will have to submit the basic documents like an Aadhaar card, bank details, address proof for the KYC process and that too online. You can easily get yourself verified online without any time-consuming, hectic process.
Easy Approval
The online personal loan gets approved easily and quickly as the entire loan application, and the availing process is 100% online. In addition, the digital process helps in reducing the verification time.
Basic Documents Required
To apply for a personal loan, the borrower needs to get basic documents verified. Some of them are listed below:
For Salaried Individuals
- Identity Proof
- PAN Card
- Address proof
- Bank statements for the last 3 months as a proof of your earnings
- Form 16 or Income Tax Returns of the last 3 years
For Self-Employed
- Identity
- PAN Card
- Residence proof
- Bank statements for the last 3 months
- Last 3 years Income Tax Returns
- Last 3 years CA Certified Balance Sheet and Profit & Loss Account of your business
Before applying for a personal loan, the borrower must make sure that they meet the eligibility criteria. For a hassle-free instant personal loan, you can always rely on TrueBalance online loan app. It is one of the best loan apps that offers 100% safe and reliable loans to borrowers during financial emergencies. Moreover, this financial lending platformoffers an amount of up to ₹50,000 without expecting the borrower to risk any of their assets. So, what are you waiting for? Download the TrueBalance loan app from the Google Play Store and live a stress-free life.
