Get Instant Cash Loan in 1 hour without Documents in India (2024) – Buyer’s Guide
There may be situations when you require immediate cash due to a cash shortage or a sudden requirement for money. It might not be practical to apply for a personal loan from a bank because it could take the lender some time to review your application and transfer the requested amount to your bank account. In this situation, you can apply for an instant personal loan from a financing company, and the money will be transferred to your bank account within an hour.
At an interest rate that ranges from 1.50% to 2.25% each month, you can obtain a loan between Rs. 5,000 and Rs. 1 lakh. The interest rate charged will be lower the higher your credit score. So, if you want an instant cash loan without documents, you have landed on the right page. Read on to learn more about instant cash loans.
Summary Of The 10 Best Instant Loan Lenders
Here is a glance at all the best instant loan apps.
S No.
Product Name
Tenure
1
12 - 48 months
2
12 - 60 months
3
Dhani
Up to 12 months
4
Home Credit
9 - 48 months
5
Credit Bee
Up to 15 months
6
Bajaj Finserv
Up to 60 months
7
CASHe
Up to 15 months
8
Money view
Up to 72 months
9
Money Tap
Up to 60 months
10
Navi
Up to 72months
This is one of the best instant loan platforms where you can quickly apply for personal loans between INR 30,000 and INR 5,00,000 and receive instant approval. Make your dreams come true with IndusInd Easy Credit Personal Loans. You can easily obtain a personal loan of up to Rs. 5 lakhs at zero processing fees (valid for a limited period), regardless of usage. The procedure is simple, requires no physical documentation, and can be done from the convenience of your home.
Pros
Cons
Zero Processing Fee (Valid for a Limited period)
Good creditworthiness is required to get a loan approval
Digital Process with no physical documentation involved
Relaxed eligibility criteria
Instant approval and quick disbursal
The EMI plans are affordable
2. Paysense
One of the top urgent loan applications without pay stubs is Paysense, which recently joined with LazyPay to become one of the leading platforms in this industry. You don't have to wait long for approvals when applying for rapid personal loans ranging from Rs. 5,000 to 5,00,000. The best aspect is that you don't need to worry about time because this platform is renowned for speedy approvals. What makes this application for immediate personal loans the best? There's no need to courier the documents or scan them for digital versions; they can just be picked up from your house.
Pros
Cons
The documentation process on this application is easy and quick
Must have a good cibil score
Can provide a loan with as much as an 80% approval rate
Charges huge interest
The loan is quickly approved
Offers affordable EMI plans
3. Dhani
The loan cash is disbursed promptly to your bank account through Dhani, a popularly advertised phone loan application. A personal loan application at Dhani can be made at any time from anywhere. A loan up to Rs. 15 lakh rupees can be obtained promptly with an interest rate as low as 12%. You can instantly receive the loan money in your account by downloading the Dhani loan app and entering your Aadhaar card number and loan amount.
Pros
Cons
Provides all kinds of loans and credit rating facilities for faster approval
You cannot avail of this loan on all kinds of e-Commerce platforms
Has its pharmacy and money services platform combined into one platform
Initial documentation takes time during the registration
Quick approval
Helps in providing all kinds of loans and credit-rating facilities
4. Home Credit
Home Credit India is a subsidiary of the global Home Credit Group, which operates in ten nations in Europe and Asia. The India branch was founded in 2012 and worked in more than 60 locations across 15 states. The personal loan application allows for personal loans of up to Rs. 2 lakh rupees with repayment terms of 9 months to 4 years. Financial services are made simple, transparent, and readily available to you by the fast loan app in India.
Pros
Cons
Can provide loans up to Rs. 2 lakh
Need a good CIBIL score
The loan is provided for nine months to 4 years
Available all around India
Easy and quick
5. Kredit Bee
The Kredit Bee has to be one of the most lucrative fast-lay platforms. As a result, it ranks among the top instant loan apps in India, and its user-friendly interface makes it simple to use. More than 20 million downloads have taken place, and more than 2 million users have expressed satisfaction with the company's services. To apply for loans from this site, you must be an Indian citizen at least 21 years old and possess a valid PAN ID. To qualify for these fast loans as a salaried person, you must make more than Rs. 10,000 monthly. Depending on your credit score, you may be able to borrow up to Rs. 1,00,000 for 62 days up to 15 months at a maximum interest rate of 2.49% monthly. It is the finest instant personal loan app due to the additional advantages of simple credit to bank accounts, digital wallets, etc.
Pros
Cons
Provides short-term loans
It needs a strong CIBIL score
Provides low-interest rates loans
Can be availed on reaching 21 years of age
Instant disbursal
6. Bajaj Finserv
In just 24 hours, personal loans from Bajaj Finserv can be instantaneously approved. Women, government and PSU employees, teachers, college professors, and others can apply for these collateral-free loans. By paying interest-only EMIs, you can lower your monthly payment on personal loans by up to 45%. As soon as your loan has been granted, you can take out as much money as you need without having to go through the inconvenience of reapplying.
Pros
Cons
Provides loan in just one day
The interest charged is on a higher side
Provides flexible Emi payment options
The CIBIL scores need to be strong
It does not require collateral
Quick loan provider
7. CASHe
CASHe's application explains how it has earned its reputation as the finest rapid personal loan app. It's simple to log in and register on the application, and the dashboard provides all the details you require to apply for a quick loan. Several different loans are available, with a maximum of Rs. 5,00,000 and various interest rates and credit terms. Direct transfers to the associated bank account are also possible. You can set up direct auto-debit for loan interest amounts to avoid revisiting the platform. For their Buy Now Pay Later services, there are additional partnerships with Flipkart, Amazon, Big Basket, etc. You can also decide to guarantee your debts with insurance policies.
Pros
Cons
Only single-time registration is required
You need a strong cibil score
Compatible with websites like Amazon, Flipkart, etc
Time-consuming app
You can quickly transfer the money to your friends
You can set your credit limits from the approved credit line.
8. Money View
You can obtain a personal loan with the Money View personal loan application in only two hours. A personal loan from Money View is entirely paperless, quick, simple, and adaptable, regardless of whether you need the money to finance a home renovation, purchase a pricey vehicle, or pay for wedding expenses. The loan amounts offered by Money View range from Rs. 10,000 to 5 lakh. The Flexible repayment terms are three months to 5 years.
Pros
Cons
Provides loans at low-interest rates
It would help if you had an excellent cibil score to avail of a loan
The minimum loan amount is Rs. 5,000
4.5 star rated; User friendly
Transparent
9. Money Tap
One of the fastest instant loan apps in India is MoneyTap. With MoneyTap, getting a quick loan is as easy as downloading the app for your phone. So how does it operate? You must download the application and register on the same website before beginning. You must complete the KYC papers and wait for final approval after registering. Following that, you can obtain an instant credit up to an approved sum of INR 5,00,000 based on your credit score, which you can use to pay for a vacation, luxuries, daily necessities, and other items. The best part is that you won't have to wait around for a long time or deal with a huge amount of paperwork.
Pros
Cons
Because of how well-built this mobile application is, users, do not experience any lag.
Initial KYC will require some time.
The credit line is simple to obtain and functional as a wallet
Depending on the amount, the credit duration varies and can last up to 36 months at most
You can create a profile for availing loan with KYC
Once the urgent loans are granted, you won't have to give your credit score much thought.
10. Navi
Navi is one of the best loan-applying apps that benefit the borrower in private, receiving ratings of 4.2 on Google Play and 4.5 on the App Store. Whether you need a personal loan or have a medical emergency, they offer a solution for all your financial issues and have the most effective loan acceptance rate in the sector.
It typically provides loans up to Rs. 20,00,000 with interest rates between 9.99 and 45 per cent and maturities of up to 6 years. You do not need to apply for a digital personal loan with no processing costs since it is a paperless loan approved in 10 minutes.
Pros
Cons
Less paperwork
It might take some time to rectify changes related to the bank account
Provides loan on an interest rate of 9.99 to 45%
The maximum loan amount provided is Rs. 20,000
Convenient; Quick
What Are The Features And Benefits Of Instant Cash Loan In 1 Hour?
The features and benefits of availing of an instant cash loan in 1 hour are as follows:
Instant cash loan applications are submitted entirely online. You only need to register a profile on the company's official website, where the immediate cash lending feature is offered. Upload all required documentation, then choose the loan amount and term. The company will examine your paperwork, and if everything checks out, the money will be transferred to your bank account.
You can modify your loan according to your needs. You can select the loan amount and repayment period, and the lender will apply an interest rate based on the relevant factors.
Most lenders offering the instant cash loan facility may charge interest rates ranging from 1.50% to 2.25% per month. This implies that it will be simple for you to repay the loan's principal. Your credit score and the lending institution you choose will influence the interest rate that will be charged on the total amount of your loan. The interest rate will be lower the higher the credit score.
You can apply for a loan from lenders who provide a rapid cash loan facility if you need money but don't have the credit or have abysmal credit. Even though some businesses require a credit score of at least 600 to obtain a loan, some creditors may provide you with a loan if you are a new customer and have no credit history. However, physical verification can be necessary if your credit score is meager.
Most lenders need you to complete the application and attach the required papers to approve your loan application in three minutes.
You are still eligible for an instant cash loan even with a low monthly income. The lender might approve your application for an immediate cash loan if your credit outlook is good, you haven't experienced a financial default in the last two years, and you don't have a lot of credit liabilities.
Different lenders provide flexible payback terms based on your requested loan amount. The repayment period may be between three months and a year if you only took out a small loan. The repayment period, however, can extend to 5 years if you have a very significant loan amount.
Eligibility
The eligibility for availing of an instant loan is 23 years.
The minimum monthly income you must be able to show is Rs.20,000.
You must have a minimum credit score of 600.
You should be an Indian citizen
You should have cleared all your financial liabilities in the last two years.
All the information furnished by you in your document should be genuine.
You should be employed for a minimum of 6 months
Documents Required To Apply For An Instant Cash Loan In 1 Hour
The documents required for applying for availing an instant cash loan in 1 hour are:
Aadhaar Card
Proof of address
Latest salary slips
Bank statement for the last six months
PAN Card
Passport size photographs
How To Apply For An Instant Cash Loan
You need to follow these steps to apply for an instant loan:
To apply for an instant cash loan, go to the lender's official website or download its mobile application, depending on your preference.
Enter the required information to create your profile, including your name, email address, mobile number, etc.
The lender's requirements are met by uploading the proper paperwork.
If the documents you presented are deemed accurate, the lender will review them and accept your loan application.
The loan amount and repayment duration are then yours to choose from. Following that, the loan money will be transferred to your bank account.
What Are The Terms And Conditions Of Getting an Instant Cash Loan In 1 hour?
The terms and conditions for getting an instant cash loan in an hour are as follows:
Interest shall be payable between the distribution of the Loan and the expiration of the Loan.
Processing fees will also be retained.
To receive a quick loan, you must pay GST fees.
Frequently Asked Questions About The Instant Cash Loan?
Here are answers to the most commonly asked questions about availing of an instant cash loan without documents.
1. Can I get an instant cash loan without having a good CIBIL and track score?
No, you can't. Without income proof, you cannot apply for a personal loan, even though people who are new to credit and do not yet have a CIBIL score can do so at higher interest rates. This is so that the lender can verify your capacity to repay, which it may do by looking at your income documentation.
2. How can I repay my instant cash loan?
You must go to the lender's app screen of the app and click the 'Current Due' option to see the amount you owe the lender once you have registered your UPI ID with the lender's app and are prepared to make loan repayments with the lender's app. Then you need to click "Repay with UPI" on the tab.
3. Do self-employed professionals apply for instant cash loans?
Suppose the eligibility requirements fulfil the terms and policies of the lender. In that case, a self-employed person may be eligible for an instant loan starting at Rs. 50,000 to Rs. 1,50,000 for their start-up business. A self-employed person's loan is primarily for business expansion.
The Bottom Line
These were the top 10 rapid cash lending apps without documents. We hope that our complete ten lists of quick cash lending applications has assisted you in making a decision. We have also answered some of the most commonly asked questions about instant loans.
Take out a loan now!
To contact the Express Deals team, please drop an email to - expressdeal@newindianexpress.com
We will reach out to you in the next 48 business hours.
Disclaimer: At Express Deals, we work with subject matter experts to bring you the latest in product innovations and Indian eCommerce trends. Express Deals participates in various affiliate programs, which means we may earn revenue on purchases made through the links to retailer sites. Please note that prices mentioned on the pages can vary based on retailer promotions on any given day. Also, do note that we will not be liable for any claim under applicable laws, including but not limited to the Consumer Protection Act, 2019, with respect to the featured products since they aren't directly sold by us.