A step-by-step guide to getting an instant loan

Swift and convenient access to funds is crucial when facing unexpected expenses like medical emergencies. However, acquiring a personal loan demands meeting set eligibility criteria, submitting extensive paperwork, and waiting for a few days to receive loan approval – a process unsuited for urgent situations. An instant loan, on the other hand, offers a practical solution, swiftly providing necessary funds without unnecessary complications.

Lenders like Bajaj Finance provide Insta Personal Loans, offering a convenient solution for unforeseen expenses. Certain customers may receive their instant loan in as little as 30 minutes*. Our existing customers can access a pre-approved loan offer of up to Rs. 12,76,500, while new customers can instantly check their pre-assigned loan limit by providing their mobile number and OTP.

Continue reading to learn how to get an instant loan from Bajaj Finance:

●        Visit the Insta Personal Loan page on the Bajaj Finserv website.

●        The online form will open when you click the "CHECK OFFER" button on the page.

●        Enter your 10-digit mobile number and the OTP to authenticate your profile.

●        Your screen will now display an offer with a pre-assigned lending limit. You have the choice of accepting it or entering your preferred amount

●        Choose the loan tenure that is most convenient for you.

●        Click "PROCEED" to complete the online form.

The online process may vary depending on whether you are a new or existing customer. In some cases, additional documentation may be required from certain customers to complete their Insta Personal Loan application.

Here is an in-depth understanding of how a Bajaj Finance Insta Personal Loan works:

For existing customers:

If you are already a Bajaj Finance customer, you may have a pre-approved offer waiting for you, further eliminating the need for additional eligibility checks. Some existing customers may not even need to provide income proof. However, a few of the existing customers may be asked for minimal documentation like bank statements and KYC paperwork.

For new customers:

Being an existing customer is not a prerequisite for obtaining a Bajaj Finance Insta Personal Loan. To check for an Insta Personal Loan offer, you simply require a mobile number and the OTP sent to it. In some cases, new customers may need to provide a few documents for verification purposes.

How to determine your Insta Personal Loan EMIs

To determine the loan amount that best fits your budget, use the Insta Personal Loan EMI Calculator. This tool helps you to find the EMI and the tenure that suits your repayment capacity. Increasing the tenure leads to lower monthly payments, while a shorter tenure increases them. The EMI calculator also provides a detailed breakdown of principal and interest. Additionally, you can access your EMIs by clicking on ‘View Repayment Schedule’.

The Bajaj Finance Insta Personal Loan offers a reliable solution for customers to handle unforeseen expenses in today's unpredictable financial landscape. Insta Personal Loans present a straightforward and organised way to secure funds for both minor and major expenses. Customers can expect to receive the loan amount in as little as 30 minutes to 4 hours and repay their loan comfortably over a flexible period ranging from 6 to 63 months.

Visit the Bajaj Finserv website to view your pre-approved offer today.

Moneycontrol Journalists are not involved in creation of this article.