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How to get an Instant Loan without documents
Reviewed by: Fibe Research Team
- Updated on: 27 Nov 2024
- Published on: 29 Jul 2021
Reviewed by: Fibe Research Team
Barely a decade ago, paperless loans seemed a far-fetched imagination but the situation has changed. Advancements in digital banking and internet access have transformed how you can now access credit. While getting a loan was tedious, inefficient and complicated once, today, it is easy.
In fact, you can get a paperless personal loan online in a matter of minutes. Read on to learn more about easy loans without documents and how to get one.
Paperless loans are offered by digital lenders and require no hard copies of your documents. It’s fairly a straightforward procedure as you can submit your application online and upload the required documents.
You can get up to ₹5 lakh instantly and without documents on the Fibe Personal Loan App. Before beginning the application process, you can also visit our website to learn about your EMI, interest rate, tenure and other loan details.
Here are the steps you can follow to apply for a personal loan without documentation:
Here, you can understand better your eligibility criteria to apply for a loan without documents.
You may also need to meet minimum income requirements to qualify for the loan.
With the facility of getting credit without documents, you enjoy a plethora of benefits, such as:
Hassle-free processing comes in handy when you require immediate funds. With a digital application, you can get an urgent cash loan without documents that need to be physically submitted. This is because it is an entirely online process from start to finish. This way, you avoid visits, waiting hours and added stress.
The fact that everything happens online makes the whole process efficient. From submission of documents to disbursement, the entire process takes only a few minutes with the right lender. Through Fibe, you can get funds in just 2 minutes!
Here are some of the points that you must keep in mind while applying for a loan without documentation:
While the paperless process is a convenient method to get an easy loan without documents, lenders still assess your borrowing capacity. For this, your credit score is an important factor as it displays your repayment capacity and creditworthiness. Therefore, having a high credit score improves your chances of getting funds digitally.
The term paperless loan may give you the wrong idea as you still need to submit your primary identification and income documents. This includes KYC documents like an Aadhaar card, PAN card and current and permanent address proof.
In addition, lenders also need you to submit your bank statements before loan disbursement. However, you need to upload these online and the term paperless is used in this context. In some cases, lenders require salary slips or IT return documents but if you do not have them, you can submit other documents like Form 16. Confirm the list of required documents from your lender to stay prepared.
With these facts, you can handle your financial requirements better when getting a paperless personal loan online. As easy as getting instant loan approval has become, it requires you to be more proactive and informed. So, read the terms and conditions thoroughly before finalising your loan.
Be entirely sure about every detail that comes along with instant approval. This way, you can ensure that you don’t have any issues during repayment. When you need an urgent cash loan without documents to be submitted physically, you can rely on Fibe.
Our eligibility criteria are straightforward and you only have to furnish basic documents to get an affordable instant Personal Loan of up to ₹5 lakh. Download our Personal Loan App or register on our website to get started!
You can apply with a lender who offers digital loans to get a paperless personal loan online. While applying for such loans, you only need to submit a few soft copies of basic documents, such as your PAN number, bank statements, etc. The entire process generally takes just a few minutes.
This depends on the lender you apply with. Generally, lenders require you to have an income source to showcase your repayment ability.
To get a personal loan from Fibe, you must be a salaried individual with a minimum in-hand salary of ₹15,000 if in non-metro cities and ₹18,000 if in metro cities.
You can get an instant loan without income proof in the following ways:
However, remember that the approval is at the lender’s discretion and showcasing good income improves your chances of approval as it demonstrates good repayment capacity.
In case you don’t have the complete set of documents, applying for a personal loan with your existing lender is a good option.
Paperless loans are a type of loan which can be acquired without submitting any physical copy of your documents. It is a simpler way to get instant funding from lenders such as Fibe, where you can get a loan of up to ₹5 lakh in just a few minutes.
To ensure safety, you must check the authenticity of the lender. If the lender is a bank or non-banking organisation approved by the government, then proceeding is safe. However, be wary of money sharks, who may promise to offer loans without any paperwork.
