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Instant Small Cash Loan

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Loan Details

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What is a Small Cash Loan?

Small Cash Loan or Instant Personal Loan is a financial product offered by Loanbaba. It is an unsecured short-term personal loan, where you as a borrower can avail an amount between Rs. 10,000 and Rs. 1,00,000 (Rs. One Lakh). This loan facility is only available for salaried individuals. It is a multipurpose loan, and you can use the funds for expenses such as medical emergency, home repair, travel trip, an important festive event, fees for an educational course, purchase of a gadget, and many more. Thus, a small cash loan is a perfect solution to meet all your unexpected expenses and urgent cash needs.

NOTE: Loanbaba is a direct lender of this product. Currently, Small Cash Loan/Instant Personal Loan is available in Mumbai, Pune, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Kolkata, Jaipur, Indore amongst other major cities.

You can simply visit loanbaba.com and apply for Instant Small Cash Loan online.

What are the other names of Small Cash Loan?

Small Cash Loan is also known as:

  1. Instant Personal Loan
  2. Mini Cash Loan
  3. Instant Cash Loan
  4. Payday Loan
  5. Same Day Loan
  6. Fast Cash Loan
  7. Emergency Cash Loan
  8. Quick Cash Loan

NOTE: All these Loans are basically the same product, with Loan amount being less than Rs. 1 Lakh & tenure being less than 1 year and are disbursed within a Day.

Features of a Small Cash Loan

  • Loanbaba’s average Turn-Around-Time (TAT) for sanction is just 30 mins, and you can have funds in your account in as less as 2 Hours. If you are in need of some urgent cash, then this product is best suited for you.
  • It is a collateral-free loan.
  • Minimal documentation.
Small Cash Loan/Instant Personal Loan Details

Loan Amount

Rs. 10,000 to Rs. 1,00,000 (Rs. 1 Lakh)

Loan Tenure

30 days to 180 days

Interest Rate

0.1% to 0.33% per day

Things to Consider before You apply for Small Cash Loan/Instant Personal Loan

Before applying online for small cash loan on our website, please consider the following points:

  • Currently, only Salaried Individuals are eligible for the loan.
  • Your Salary should be via A/c Transfer or Cheque. Cash Salary is not acceptable.
  • Repayment is via EMI method of monthly instalment.
  • The loan amount borrowed (between Rs. 10,000 and Rs. 1,00,000), will depend on many factors such as your income, repayment capacity, credit history, etc. Get your credit score /CIBIL score for free through our website.
  • Processing Fee will be mentioned in loan agreement.
  • Small cash loan is currently available in all the major cities, including Mumbai, Pune, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Kolkata, Jaipur, Indore.
  • Repayment can be done via NEFT or post-dated cheques (as per repayment cycle), submitted to Loanbaba.
  • All necessary checks and documents are mandatory. Like other loan applications online, you will require KYC verification, income proof, employment proof, identity proof etc.

Why Choose Loanbaba to Avail a Small Cash Loan?

Usually you may ask a family member or a friend to lend cash when in dire financial situations. However, with Loanbaba, Small Cash Loan is available on the fingertips, and you do not have to get into the hassles of opting for soft loans or depending on peers for any monetary assistance. With Loanbaba there is complete transparency, no hidden charges, and an assured loan within a few hours if you meet the loan eligibility criteria.

It takes less than 2 minutes to apply for the loan and submit basic KYC documents. As Loanbaba is a direct lender in this case, you do not have to wait endlessly for approval of funds. Also, the website has a strong privacy policy. Your information is never shared with any unconcerned party.

So, why should you choose Loanbaba?

  1. Instant Sanction
  2. Minimal Documentation
  3. Fast Disbursal
  4. Easy repayment structure
  5. No Prepayment charges
  6. No Foreclosure charges
  7. Transparent process
  8. Completely online process
  9. Top notch customer support

Benefits of a Small Cash Loan

The benefits of an instant loan include:

  • Like a personal loan, a small cash loan can meet any of your financial requirement. We do not impose any restriction on end use of the funds.
  • Because of our low TAT (Turn-Around-Time), you can get urgent funds in times of insufficient cash flow, without having to wait for days to get funds.
  • Even if your CIBIL/Credit Score is less than 600, we take a call on the genuine cases, and you might be eligible for a loan.
  • You can use this product as a Credit score building mechanism. We offer credit improvement consultancy and suggest how to make best use of the product.

Small Cash Loan Eligibility Requirements

Below listed are the small cash loan eligibility requirements.

  • You should be at least 23 years of age and a salaried individual to apply for this loan. You should also draw a regular monthly salary.
  • Minimum net monthly salary should be at least Rs. 25,000. The salary must get credited to your bank account. Cash salary is not acceptable.
  • You need to furnish income proof, such as salary slips, and bank account statement reflecting the drawn salary.
  • You should submit KYC documents (ID Proof, Address Proof, PAN card)
  • Minimum credit score should be 600+.

Documents Needed for Small Cash Loan

Below mentioned are the documents to apply for a small cash loan online:

  • 3 Months Salary Slip
  • 6 Months Bank Statement
  • ID Proof, PAN Card, Address Proof, Recent Passport-Sized Photographs

Small Cash Loan Interest Rates

The interest rate will vary as per the customer profile and his/her credit history. The small cash loan interest rate can be as low as 0.1% per day up to 0.33%. There could be many factors that affect the rate of interest for a small cash loan, like your income, existing financial liabilities, and more.

How to Apply for a Small Cash Loan?

Below are the steps to apply for the loan.

  • New customers can directly apply for the loan on the homepage of Loanbaba, by clicking the ‘Small Cash Loan’ icon, and providing the necessary details. Your loan application will be processed shortly and you will be intimated about the loan application status. On loan approval, you will receive the loan amount instantly in your bank account.
  • You may be required to link your social media profiles and bank account so that we can process the loan faster.
  • Doorstep service is available. You can get in touch with the credit management team for any loan queries via the toll free number, SMS, email, or by giving a missed call.
  • You can even re-apply for this loan after successfully closing the previous small cash loan taken.

Frequently Asked Questions About Small Cash Loan

Given below are some of the important questions you may have about Loanbaba small cash loan.

  • add1. Do I need to be currently employed to apply for small cash loan?

    Yes, you need to be currently employed and drawing a regular monthly salary. The salary should reflect in your bank account. To qualify for the loan, you must be employed with the current employer for at least 2 months.

  • add2. Is there a credit check done?

    Yes, we access your credit report/score when you apply for a small cash loan. Minimum CIBIL score needed is 600+. A lower score can be considered to provide loan in case your repayment capacity is strong.

  • add3. How do I send my bank statement and others documents?

    You can upload the soft copy of the documents when making the loan application. You do not have to send us a hard copy of any document. Alternatively, you can also email the documents at scl[at]loanbaba[dot]com

  • add4. How soon will the loan get approved?

    Lending decision is taken within minutes of receiving your small cash loan application. If you apply on Loanbaba on it’s non-working weekends, the application is then processed the next working day. Funds are typically disbursed within 2 hours to 24 hours of the loan approval.

  • add5. What are the late payment charges?

    You will be charged an addition of Rs. 100 per day, as late payment charges. Cheque bounce charges may apply. Try not to default at loan payments, since it will affect your credit score and weaken the chances of securing credit in the future from any financial institution and bank.

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