Instant Personal Loan

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Instant personal loan is gaining popularity day by day, and there are 3 key reasons behind it: It is hassle free, requires minimum documentation, speedy processing time and flexible use of loan. This personal loan can be used for various purposes be it wedding, higher education, home renovation or planning of holiday. It can fulfilled multipurpose requirement. Another important benefit t is that it meets the demands of various strata of society.

The Loanbaba.com helps you to search for various top personal loan companies in India along with banks and NBFCs. The starting rate for the loan is 10.99% and the loan amount ranges from 1 Lac to Rupees 20 Lac. Tenure of the loan is between 1 year and 5 years. This website can be used to satisfy your queries and promptly guides the borrower on lower rates of interest.

Instant Personal Loan Updated Details Updated on 18th July 2018

Loan Amount

Rs. 1 lakh to Rs. 30 lakhs

Loan Tenure

10.99% onwards

Interest Rate

1 Year to 5 Years

What is Instant Personal Loan?

The instant personal loan derives its name from the quickness of disbursement of funds that you can use for multiple or any purpose. Basically, you can expect the financial institution to disburse the loan to your bank account within a day or two-days time after loan approval. There is no restriction as to how you put the funds to use.

How Does Instant Personal Loan from Loanbaba work?

To apply for an instant personal loan at our website, you can apply online straight from the homepage. Click on the ‘Personal Loan’ icon, and you will be directed to a new page. Now provide the necessary details (name, residential city, phone number, loan amount needed etc) asked after you compare the offers by the leading banks and NBFCs, presented on the same page.

Our team will get back to you shortly about your loan application. After our representative understands your loan requirement, the best deal is suggested to you and applied for. Your loan application is then processed by the respective financial institution.

Features and Benefits of Instant Personal Loan

Below mentioned are the benefits and feature of instant personal loans.

  • Large loan amount up to Rs. 20 lakhs
  • Repayment tenure up till 5 years
  • Low rates starting from 10.99%
  • No limit to the end use of the funds
  • Basic documentation with income proof, bank statements etc
  • Unsecured loan, no requirement for collateral or security
  • No guarantor required
  • Minimal paperwork and quick disbursal of funds
  • Transparent terms and conditions

Eligibility Criteria for Instant Personal Loan

The basic requirement to be met by a personal loan borrower:-

  • The person must be an Indian citizen
  • Minimum age requirement is 21 years
  • Must possess identity proof issued by the Government
  • Valid bank account details

Documents Required for Instant Personal Loan

Below mentioned are documents to present for India personal loan:

  • Original and photocopy of PAN card
  • Original and photocopy of Passport, Driving Licence, Voter ID, and Post-paid Mobile/Landline Telephone Bill, Utility Bills (Electricity/water/gas).
  • Bank statement of your salary account for at least last three months.
  • Payslips of the last three months

Quick Tips about Instant Personal Loans

Below mentioned are some of quick tips about instant personal loan India.

  1. Personal Loan Calculator:-
  2. Loan calculator helps to calculate your EMI and the actual amount to be paid per month to financial company and helps to avail the top personal loans. You can use online personal loan EMI calculator on our website, free-of-cost.

  3. CIBIL Score requirement for personal loan:-
  4. A loan applicant should be aware of the fact that his application might not be accepted even if you have a good credit history. However chances are that a loan is granted if you have a CIBIL score of minimum 750 and above. So CIBIL score for personal loan is a vital requirement.

  5. Top Banks Giving Instant Personal Loans in India

Reviewing the huge potential in the loan market leading banks, all have their best instant personal loan online India, for example SBI personal loan, HDFC personal loan, NBFC personal loan. All these financial houses are offering best personal loan, to both entrepreneurs and salaried professionals. You can find top banks and NBFCs offering personal loan on our website, including providers such as: Tata Capital, Kotak Bank, Capital First, Bajaj Finserv Limited, RBL Bank, and Fullerton India.

Instant Personal Loan Interest Rates

At present 10.99% is the starting rate of interest for personal loan. The personal loan interest rate varies from bank to bank depending on the loan amount, the time period, the level of income, and most importantly credit history.

Interest rate for personal loan and other charges:

Interest  Rate

10.99% onwards

Processing Fees

Differs from Bank to Bank

Loan Period

Up to 5 years

Pre closure Charges

Differs from Bank to Bank

Instant Personal Loan FAQs

Below mentioned are some of the important aspects about personal loan loanbaba in India.

  • addFAQs
    1. How can Loanbaba.com be useful to find you a personal loan India?
    2. Loanbaba.com acts as a guideline as to where, how and when to apply for the best and top personal loans, keeping in mind the comparable rate of interest. The procedure is simple and online form is available which needs to be filled up after reviewing and confirming your eligibility status for the loan. A personal online eligibility calculator is also available, to sum up and scrutinise the borrowers financial capacity.

      • Personalised loan offers: Why? How? Only because of its tie up with personal loan companies and banks it helps you to get the best loan deals and offers available in the market.
      • Immediate sanction: Quick and instant approval of personal loan, after forwarding the application form, is its forte. The application is forwarded to a financial firm after reviewing the borrower credit history.
      • Prompt disbursement: After the sanction of loan, fund is transferred within a working day in the borrower’s bank account.
      • Tracking your application: After online application at Loanbaba.com, it can be tracked, as this website constantly updates its customer about the process and the proceedings of the loan.
    3. How important is my employment status and history for instant personal loan approval?
    4. For attaining this loan, you have to be a salaried individual and meet specific number of months or years and being employed with the current employer. Also, you should have salary slips and bank statements to be submitted while applying for the funds. The salary must be credited to your bank account and not handed in cash. If the salary is being handed in cash then you will not qualify for the loan. Since the lender needs to have some proof of the income you draw, salary credit to bank account is mandatory.

    5. In case the instant personal loan is not sanctioned which alternatives can a borrower can try?
    • You can present bank balance and statement to the creditor to prove your high income and financial credibility.
    • A borrower can also offer a security to the lender as an assurance of prompt repayment.
    • A healthy discussion with the lender is welcome to inform him about the steps implemented by you to increase your credit score.
    • To prevent a loan application rejection, a person can take some time and wait till his credit score goes up. Once the CIBIL score reaches 750, he could go on with the loan application process and avoid credit inquiries.

Instant Personal Loan Review


Personal Loan
star star star star star15.0/5
I have an Instant Personal Loan is taken. The loan disbursement was on time and document procedure was quick. I would say it was a satisfactory experience.
Bangalore July 15, 2018
Personal Loan
star star star star star15.0/5
My Instant Personal Loan was passed at a great interest rate! I was able to secure the loan for a desirable tenure.
Bangalore July 14, 2018
Personal Loan
star star star star star14.0/5
Instant Personal Loan involved online verification process and was done in time. I received the amount shortly.
Bangalore July 13, 2018
Personal Loan
star star star star star13.0/5
The loan amount is what I am satisfied with it. The interest rate and the charges are average.
Bangalore July 13, 2018

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