Forget traditional loans and go for a digital personal loan within 30 minutes. It will save time and take the loan from various lenders through 24hrLoan. Compare interest rates and loan amounts before a digital personal loan application. If you have a monthly salary of Rs. 12,000, you can apply for a digital personal loan.
Digital Personal Loan Quick Recap
| Loan Amount | Rs. 25,000 – 5 lakh |
| Loan Repay | 6 months to 36 months |
| Interest rate | 16%- 21% p.a. |
| Income | Rs. 12,000/- per month |
| Processing fee | Up to 5% of the loan amount |
| Required Age | 21 – 55 years |
| Eligible | Salaried Person Only |
Know about Digital Personal Loan
A digital personal loan is an end-to-end online process. Get the funds into your account quickly. The paperless documents process is collateral-free and a fast process.
The digital loan is available within 72 hours. Also, some lenders offer pre-approved personal loans. Existing customers may get a pre-approved loan. The fund you may accumulate within a day.
Also Read: Muthoot Business Loan: Up to 3 Lakh
Features of Digital Personal Loan Apply Online
An effortless digital personal loan comes with the following features and benefits:
Minimum Paperwork Process: A less paperwork process when you are going to apply for a digital personal loan.
Instant Disburse: Get an immediate personal loan from 24hrLoan with a fast disbursement process. The disbursement process is smooth.
Minimum Salary: With a Rs. 12,000 salary, go for a digital loan application and take up to Rs. 5 lakh loan without hassle.
No Collateral Required: No need for collateral. Drive for digital loans without security or collateral. The bank will not ask you for property-related papers.
Meet Expenses: Whenever you choose a digital personal loan, it will meet your expenses-related costs, such as weddings, home renovation, medical costs, etc.
Digital Personal Loan Eligibility
The digital loan eligibility process is given in the list below. 24hrLoan provides digital personal loans with low interest rates and simple paperwork.
| Citizenship | Indian |
| Age of Applicant | 21 to 55 years |
| Credit Score | -1 or 700+ |
| Minimum Salary | Rs. 12,000/- |
| Work Experience | Minimum 12 months required |
| Job Profile | Pvt Ltd, Public Ltc, Govt. Employee |
Also Read: Personal Loan for Women
Compare Other Banks for Digital Personal Loan
| Banks/ NBFCs | Interest Rate (p.a.) | Loan Amount | |
| MoneyView | 1.33% per month | Up to Rs. 5 lakhs | Apply Now |
| InCred | 11.49% to 18% p.a. | Up to Rs.7. 5 lakhs | Apply Now |
| IDFC | 12.50% to 18% p.a. | Up To 10 lakhs | Apply Now |
| PaySense | 1.4% to 2.3% per month | Up to Rs. 7.5 lakhs | Apply Now |
| Upward | 9% to 32% p.a. | Up To 5 lakhs | Apply Now |
| Faircent | 12% to 28% p.a. | Up To 10 lakhs | Apply Now |
Documents for Instant Digital Loan
Check the list of simple documents for digital personal loans. Have your paperwork within arm’s reach when applying for a digital loan.
- Permanent Account Number (Pan Card)
- Aadhaar Card copy
- Salary Slip of the latest month
- Bank Statement of 12 months in PDF format
- Ownership Proof: Electricity bill / Gas bill/ Water bill
- Co-applicant Aadhaar Card copy
Digital Personal Loan Interest & Charges
| Interest rate | 1.35% to 1.85% per month |
| Processing fee | Up to 5% of approval loan + GST |
| Late Fee | Applicable |
| Foreclose Charge | Up to 4% |
Apply for a Digital Personal Loan with a Few Steps
Enhance the digital loan process with a few steps. These steps will fulfill the desire for a personal loan online.
Step 1: Apply for a digital personal loan from the above button.
Step 2: Now it’s time to fill out the application form.
Step 3: After filling in all your KYC details, upload the mentioned documents.
Step 4: Submit the application form after proper filling out.
Step 5: The Lender will verify documents and provide the loan.
FAQs on Digital Personal Loan
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Who will be eligible for a digital personal loan?
The salaried person with a Rs. 12,000 net monthly income may apply for a digital personal loan. Also, if pre-approved loans are provided by lenders. If you are eligible for pre-approval, you will get the call.
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Can I foreclose a digital personal loan?
You will be able to foreclose the digital personal loan after 6 months. The foreclosure charge is up to 4% of the due loan amount.
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What is the specific interest offered by digital personal loans?
The digital personal loan is offered with an interest rate of 1.35% per month.