Need an instant personal loan? Check these fast approval lenders

People take loans often when they face some emergency. In most cases, it could be a medical emergency, financial emergency, or any other situation. At that time, you want to take a loan from a lender who offers fast approval.

Time is precious, and you do want to waste it. But, we all know how the process of getting the loan could be slow. What is the use of the money, if it does not come handy at the right time? This is why, today, in this post, we will tell you about 2 lenders famous for their fast approval loans. We will check out their details, such as rate of interest, eligibility criteria, and other things.

Aditya Birla personal loan

Aditya Birla's personal loan is one of the leading lenders in India. Aditya Birla loan would immensely help you out to come out of any financial situation. Whether you need it for buying a house, get a car, or need to use it for miscellaneous expenses.

The loan is offered to both salaried individuals or self-employed professionals who have a good credit score. The loan is quick approval and disbursed. Let’s look at the loan details.

Ø Aditya Birla Offers loan from ₹25,000 to ₹15 lakhs.

Ø The interest rate begins at 14%.

Ø The loan repayment tenure ranges from 6 months to 36 months.

Ø The processing fee could go up to 2% of the loan amount.

Ø The foreclosure charge is 4% of the outstanding amount in the first year. In the second year, the charge is 3%, and in the 3rd year, it is 2%.

Ø The dishonor charge is ₹750 for every instance.

Ø The lowest EMI is ₹3,187 per month.

Ø The cheque bounce charge is ₹750 for every bounced cheque.

Ø The loan cancellation charge is 4% of the required loan amount.

Features of Aditya Birla personal loan

Ø The loan is processed easily with quick disbursal.

Ø There is no need of collateral from the borrower.

Ø The loan is approved in less than 30 minutes.

Ø The process is entirely paperless.

The eligibility criteria to apply

Aditya Birla offers it’s a personal loan to both salaried individuals and self-employed professional.

Ø The minimum borrower age should be 23 years to apply.

Ø The monthly income of the borrower should be minimum ₹25,000 to apply.

Ø The borrower should be living at the current address for minimum 2 years.

Documents required to apply

Ø KYC documents required by the lender

Ø Filled application form

Ø Proof of identity ( PAN Card, Driving license, Passport)

Ø Address proof ( Rent agreement, Utility bill)

Ø Bank statement for the past 6 months

Ø Salary slips for the past 3 months

How to apply?

To apply for Aditya Birla's personal loan, visit the official website of the lender. There you will find the option to apply.

We can see how Aditya Birla offers a high loan amount without any collateral and quick approval. Now, let’s move on to the next lender, which is Mahindra finance personal loan.

Mahindra finance personal loan

Similar to Aditya Birla, Mahindra finance personal loan lives up to the borrower’s expectations. However, the loan is available only to Mahindra group employees. Here are it’s loan details.

Ø The loan is offered up to Rs 3 lakhs.

Ø The loan tenure ranges from 1 year to 3 years.

Ø The loan is approved and disbursed within 2 days.

Ø The rate of interest depends upon the borrower’s profile and credit score.

The eligibility criteria

Ø The borrower should be an existing customer of Mahindra finance or employee of Mahindra Group.

Ø The borrower should have work minimum of 2 years at Mahindra & Mahindra.

Ø The borrower age should be between 21 years and 58 years.

Documents required

Ø KYC Documents

Ø PAN card

Ø Bank statement and salary slips for the last 3 months

Ø A photograph

How to apply?

The applying process for Mahindra Finance's personal loan is very easy. You could either apply on the Mahindra finance official website or visit at the nearest branch.

These are the 2 fast approval lenders about we have told you about. The process is easy, quick, and reliable. We are sure you will find these lenders offering good services. In case you need help, do let us know. We would be happy to help you.