29 November, 2024 | 14:16 IST
You may face an emergency anytime and when something unexpected happens, having quick access to cash can make a huge difference. Whether it’s an urgent medical bill, a home repair that can't wait, or similar other large expenses, arranging money quickly could be a challenge.
The complete digital lending process provided by most of the banks and non-banking financial companies (NBFCs) these days could be helpful in getting a quick loan. You can avail personal loans up to Rs 5 lakhs through most of the instant loan apps.
Forget the long queues and paperwork, now you can get even a Rs 2 Lakh loan instantly, all with just a few clicks.
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An instant personal loan is a quick and hassle-free way to borrow money without waiting for days to get approved. These loans are usually processed and disbursed in a matter of minutes, offering financial relief during urgent situations. The best part? You can apply for an instant loan online, eliminating the need for time-consuming paperwork and long approval processes.
You can get access to 100% digital personal loans up to Rs. 15 lakhs with Moneycontrol. Partnering with five lenders, Moneycontrol ensures a seamless loan application experience with no paperwork, low processing fees and quick disbursal directly to your bank account.
The entire process needs just three simple steps — enter your details, complete KYC and set up your EMI repayment plan. With interest rates starting at 12% per annum and no hidden charges, you can get the financial support you need with complete transparency.
Step 1: Meet the eligibility criteria
Before you can apply for an instant personal loan, it’s important to ensure you meet the eligibility criteria set by lenders. The typical eligibility requirements for a Rs 2 lakh instant personal loan include:
Step 2: Apply for an online loan
Moneycontrol offers fast access to personal loans up to Rs. 15 lakhs. Just follow these steps:
Step 3: Get your funds instantly
Once your application is submitted, it will be processed by the lender, and approval is typically received within minutes. If everything is in order, the loan amount is disbursed directly into your bank account, usually through an electronic transfer or UPI.
An instant personal loan of Rs 2 lakhs can be used for a wide range of purposes. Some of the most common reasons people apply for this type of loan include:
There are numerous benefits to opting for an instant loan online:
Here are the documents you’ll generally need to submit when applying for a Rs 2 lakh personal loan:
For salaried employees:
For Self-Employed Individuals:
If you are applying through an online personal loan app you will generally need minimal documentation and zero paperwork. However, keeping the above-mentioned documents is helpful for a quick and hassle-free application process.
In conclusion, whether you're facing an emergency or have a planned large expense, applying for an instant loan online for Rs. 2 lakhs is a convenient solution. Platforms like Moneycontrol make it easier to access the funds up to Rs. 15L with minimal hassle. Always ensure you understand the loan terms, eligibility criteria and repayment plans before applying.
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