Online loan: How to take a loan online in just 5 minutes from the comfort of our home

How to take a loan online: Nowadays, we do all the work on the mobile from paying a bill or sending money to someone. 

Keeping these things in mind, nowadays, many banks and non-banking financial institutions (NBFCs) have started providing loan-related services over the phone. You can easily take a loan through the app or their website.

In this article, we are going to tell you how to take a loan online from the comfort of your home in just 5 minutes.

Online loan: How to take a loan online in just 5 minutes from the comfort of our home
How to take a loan online in just 5 minutes from the comfort of our home

Benefits of taking a loan from mobile 

The most significant advantage of taking a loan from mobile is that you do not have to go to the banks, and you can easily apply for your loan in just a few clicks.

Apart from this, there are many benefits of applying for a loan from mobile:-

  1. You can apply for a loan from anywhere at any time.
  2. No need to go to the bank.
  3. We can upload documents online.
  4. Instant Loan Approval
  5. The money is credited to your account within a few hours of loan approval.
  6. Helper in emergency

Keep these things in mind before applying for a loan

  • You should have regular income i.e. apply for a loan only if you do any job or business.
  • Decide how much loan you need and take a loan as much as you can repay.
  • Get all your documents scanned and keep them because you will have to upload documents online.
  • Your age should be between 21 to 58 years.
  • Along with this, keep in mind that your CIBIL score should be above 750.

Documents to apply for loan online

  • Identity proof (Adhar card /voter ID card/driving license/passport)
  • Residence certificate (Adhar card /voter ID card/driving license/passport)
  • PAN Card
  • Bank statement of last three months
  • If working, then salary slip of last three months
  • passport size photo

Keep in mind that if you are applying for the loan online, you should have all these documents on your mobile in PDF or any other format.

How to take a loan online from mobile

Now, we will see, how to apply for a loan from the phone.

There are many ways to make a loan online:-

With the help of the Instant Loan App – Nowadays, many apps offer online loans like KreditBee, Freecharge, Mobikwik, PaySense, MoneyTap, Navi, etc. If you want a quick loan, you have to install and open these instant loan apps and upload the required documents.

For You: Read this article to know how to take a loan online from Navi App.

Instant loan apps are just suitable for taking small loans and repaying them well before the given time as it puts a lot of fines on you if you are late in repaying the loan, and they can harass you by calling again and again.

With the help of online banking – Many banks have started offering loans on their website. If you use net banking, then you can apply for a loan by logging into your bank account, some banks are all ready for you. If you are an old customer of theirs, they keep the scheme of pre-approved loans.

Pre Approved Loan – As the name suggests, this loan is already approved for you i.e. if you have already taken a loan from somewhere, you are offered a pre-approved loan from there. If you are a user of the SBI Yono app, then you can easily get a pre-approved loan from there.

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