Is a personal loan available without documents? We will explore more about this question in this article. Whenever you go with an instant personal loan, the CIBIL Score plays a crucial part. A creditworthiness score of 720+ is good for a personal loan without documents.
Taking a paperless personal loan means submitting documents digitally and getting quick funds. Sometimes lenders allow pre-approved loans without documents. Let’s know more about this…
Benefits of Instant Personal Loan without Documents
Fund within 24 hours: Borrow instant personal loan within 24 hours. Money will hit to bank without taking a longer time.
Digital Loan: The whole experience is online whenever taking an instant personal loan.
Less or No Documents: Some lenders take basic or no documents for instant loans. If basic documents, KYC proof documents are only required.
Smooth Application: Get through a smooth application journey and hassle-free loan. Give your basic information for loan application.
What types of Personal Loan available without Documents?
Know about hidden tricks to acquire personal loans without documents. Some alternative options you may use for instant personal loans:
Pre-approved Loan: If the borrower existing customer of the bank, obtain a pre-approved personal loan. Previous relations with banks through bank accounts, existing loans, or using credit cards are welcome for pre-approved offers.
Top-up Loan Offer: Without submitting extra documents, you may rely on a top-up loan offer. A good repayment client may obtain a top-up loan. No such documents bank will ask for.
Pay Later Loan: Applications like PayTm, Flipkart, Mobikwik, and Freecharge give the pay later loan facility if the borrower has an existing partner with the application.
Who will be eligible for a Personal Loan with No Documents?
Obtaining a personal loan depends on several eligibility. We will learn more about this on the following points:
Repayment on Time: Existing loan payment should be on time which means pay your EMI date on the actual loan payment date. These can be credit card bills, pay later bills, or term loans. You should not default on any loan payment to maintain creditworthiness.
Relation with Bank: Trustworthiness is one of the major factors for loan application. A longer relationship with a bank gives you a better chance for an instant personal loan. Maintaining your bank account is one of the good options.
Credit Score: A bad credit score marks a bad person in the loan sector. So, try to be a good person with a minimum 720+ credit score holding that most lender offers instant loans.
Get Personal Loans from Different Lenders
| Lender | Interest Rate | Salary | |
| WeRize | 1.35% per month | Rs. 12,000 | Apply Now |
| MoneyView | 1.33% per month | Rs. 13,500 | Apply Now |
| InCred | 11.49% to 18% p.a. | Rs. 15,000 | Apply Now |
| Fibe | 24% to 30% p.a. | Rs. 15,000 | Apply Now |
| Finnable | 16% to 22% p.a. | Rs. 15,000 | Apply Now |
| Faircent EEZEE | 12% to 28% p.a. | Not Required | Apply Now |
| IDFC | 12.50% to 18% p.a. | Rs. 15,000 | Apply Now |
| PaySense | 1.4% to 2.3% per month | Rs. 18,000 | Apply Now |
| Upward | 9% to 32% p.a. | Rs. 18,000 | Apply Now |
| Faircent | 12% to 28% p.a. | Rs. 25,000 | Apply Now |
| Aditya Birla | 11% to 26% p.a. | Not Required | Apply Now |
How to Get an Instant Personal Loan Without Documents
- Obtain instant funds with your pre-existing lender or check the above lender.
- Basic details required to submit like Aadhaar Card, Pan Card, Address, etc.
- Give your income detail which is your net salary.
- Fill out the form by entering the correct information.
- Submit documents and get instant funds to your account.
FAQs on Personal Loan without Documents
May I get an Instant Personal Loan without Provide Documents?
Secure instant funds with a paperless application process if the borrower has an existing relationship with the lender. If you have an account at HDFC Bank, Axis Bank, Kotak Bank, or SBI Bank and maintain good creditworthiness, the bank will provide an instant loan or credit card without a documentation process.
Can I take a personal loan at the paperless documents process?
Enjoy a paperless personal loan that requires you to submit online documents such as a Pan Card, Aadhaar Card, Salary Slip & Bank Statement. Upload all required documents and ensure instant funds.
Can I obtain a loan based on Video KYC?
VKYC or Video KYC process applicable with such lenders as WeRize, Faircent, Navi, PaySense, etc. These all are eligible for salaried holders with a minimum Rs. 12K net salary.