Anyone of us could incur unanticipated expenses for which we may not have sufficient finances. An may be the best solution in such circumstances. It is an unsecured loan that is swiftly disbursed, typically within a few hours. These loans do not require collateral and can be used for a variety of objectives, including medical emergencies, home repairs, and other unanticipated expenses. Many lenders may have pre-approved offers for their existing customers.
In this regard, Bajaj Finance Limited has launched the Insta Personal Loan as its most recent lending product. Existing customers can receive a pre-approved loan offer of up to Rs. 10 lakh, while new customers can instantly generate their pre-assigned loan limit using just a mobile number and OTP. Read on to get an in-depth understanding of how an Insta Personal Loan works.
In the case of existing customers
If you are currently a customer of Bajaj Finance, you may already have a pre-approved offer. In this case, you do not need to meet any additional eligibility requirements. Some of the existing customers are not even required to submit any documents such as their income proof. A few of our existing customers may be required to submit some minimal documents, such as bank statements and KYC paperwork.
In the case of new customers
It is not mandatory to be an existing customer to get a Bajaj Finserv Insta Personal Loan. All that is needed to check an Insta Personal Loan offer is a functioning mobile number and the OTP sent to it. Some new customers might need to share a few documents to verify the information.
How to choose your Insta Personal Loan amount
Once you check your offer, you can go with the full amount or choose a lower amount and continue the application. To select the appropriate loan amount that suits your budget, you can use the to figure out the EMI and loan tenure. You can adjust the EMI amount to match your ability to repay. If you extend the tenure, your monthly payments will decrease, and vice versa. The EMI Calculator also displays the breakdown of principal and interest. In addition, you can view your EMIs by clicking on ‘View Repayment Schedule’.
Here are a few additional benefits of an Insta Personal Loan:
Speedy disbursal process
Insta Personal Loans operate similar to the green channel at airports, with all processes fast-tracked for convenience of customers. Once you apply for the Insta Personal Loan, funds are deposited into your account within 30 minutes to 4 hours.
No income proof and no hidden charges
Some of our existing customers can get the Insta Personal Loan without submitting any paperwork, such as income proof or KYC documents. Furthermore, the entire process is transparent. All applicable fees and charges are listed in the loan paperwork and on the company's website. There are no concealed charges.
We understand that the needs of two separate individuals cannot be identical. Insta Personal Loans tenure is variable and ranges from 6 to 60 months. You have the option to choose the repayment term that best meets your requirements.
No need for collateral
An Insta Personal Loan is an unsecured loan that does not require a guarantor or any sort of collateral, such as gold jewellery or real estate documents.
The Bajaj Finserv Insta Personal Loan is an excellent solution for customers to comfortably manage unanticipated expenses in a world where money management has grown unpredictable. Insta Personal Loans provide a seamless and streamlined approach to borrowing funds for minor and major expenses. Head over to the Bajaj Finserv website to check your offer today.