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Fondly known as the ‘city of joy’, Kolkata is the third-most populous metro city in India. Over the years, the city has developed into a major commercial and cultural hub attracting many job seekers. The city has also developed into a tech hub, housing prominent IT companies of India. With increasing population, the cost of living in Kolkata has increased due to which the demand for money too has risen. Availing an instant loan in Kolkata is the best way for a salaried middle-class individual to get rid of his financial hassles in an easy and hassle-free way. If you are a salaried individual in Kolkata and are looking to avail a loan, then here’s how getting an instant loan can be of great choice.
What is an instant loan?
An instant loan is a type of unsecured loan you can avail to meet any financial contingencies in the nick of time. This type of loan is disbursed immediately at a nominal processing fee, without any collateral. Any salaried professional in the city Kolkata can avail this type of loan to cater to any financial requirement like credit card bill payment, wedding expenses, buying an asset, travelling purpose, home renovation, child’s education or even for paying off medical bills.
Here is how an instant loan in Kolkata can help a salaried middle-class individual
Here are few benefits of availing an instant loan in Kolkata:
Instant disbursal: As the name suggests, an instant loan is a type of unsecured loan that the lender disburses immediately. Few banks, NBFCs and online lenders in India offer you loans in just 2 seconds. Hence, unlike other types of loan, getting an instant loan is not a time-consuming affair and helps you get immediate access to funds that further makes it easy to cater to financial emergencies efficiently. As soon as you submit your loan application along with the required documents, your loan status is displayed and if approved, the loan amount is disbursed instantaneously.
No collateral: To get an instant loan, you don’t have to pledge any of your assets or keep any guarantor. This is because this loan is of unsecured type that is simply offered based on your eligibility criteria i.e. credit score, income, job type and other factors. This thus ensures that you don’t have to risk any of your investments to cater to your unexpected financial requirements or even waste time in arranging for collateral.
Use the amount for any purpose: One of the primary benefits of availing an instant loan is that you can utilize the loan amount for any purpose. Be it travelling, requiring funds for a medical emergency, paying off child’s education fee or needing money for home renovation or doing the down payment for the car, this money can be availed to cater to any type of financial requirement. You don’t have to specify to the lender the purpose of availing the loan.
Minimal documentation: You don’t have to undergo a lengthy documentation process to avail an instant loan in Kolkata. You simply have to submit any one copy of your address proof or identity proof along with your photograph and salary slip. Scanned copies of these documents can be uploaded online, thus saving your time and ensuring you a paperless application process.
Easy application process: At the time of a wedding or a medical emergency, you certainly won’t get time to visit a bank or a lender’s office to apply for a loan. However, with digital advancement, lenders in India have started offering loans online that allow you to make an application online. You can make a loan application through the lender’s website or downloading an instant personal loan app from the play store. The online application process is pretty straight forward and requires you to submit basic KYC details and upload documents online. You don’t have to mail or send your details or documents to the lender’s office and can directly do so online through the app or website. However, before making an application online, it is better to check your loan eligibility online using a loan eligibility calculator. Also, ensure you have a good credit score as lenders reject loan applicants of applicants having a low credit score.
Competitive interest rates: Instant loan can be availed at a competitive interest rate ranging from 9%-2% depending on your eligibility criteria. To avail an instant loan in Kolkata at a low-interest rate, you must have a good credit score, earn a minimum of Rs. 20,000 and are working with a good company. It is important to know that the interest rate offered to you is highly influenced by your credit score, age, income and other factors.
Getting an instant loan in Kolkata can help you easily meet your financial requirements. However, before opting for an instant loan, check your credit score and loan eligibility using a personal loan eligibility criterion to get an estimate of the amount you are eligible to get. Also, go through the instant loan foreclosure charges, processing fee and other factors to ensure you make the right choice.