Ankit Verma, a 32-year-old, Software Developer by profession is in immediate need of cash to pay his son’s college fee. Thus, in order to get the amount, he has sent a formal loan application to a money lender who is ready to offer the loan in 3-4 working days. As Ankit was in urgent need of the cash thus he didn’t do the required enquiry and agreed for the deal. Actually, getting money from these money lenders comes with a vicious interest cycle that these informal lenders are infamous of creating. Well, after having a discussion with a close friend, he cancelled the deal.
Now you must be wondering what happened all of a sudden? Well, his friend told him that there are some reputed financial institutions that offer instant personal loan and that too in just 1 day. Yes, it came as a surprise to him that there are some renowned lenders that offer the credit not only at attractive interest rate but service also. Thus, soon after knowing the same, he has applied for an online personal loan and received the funds instantly to pay his son’s college fee.
All You Need to Know about an Instant Personal Loan?
It is a type of unsecured credit facility that helps in meeting your personal needs instantly. You can get the required funds being offered by many lenders depending upon your eligibility such as income, repayment capacity and overall financial standings. The best thing about this credit facility is that it’s actually a pre-approved loan based on your financials, hence is highly preferred by many borrowers.
Now you must be curious to know what are the best available banks are there that offer you this facility? Isn’t it? Wanna know the list of the lenders that offer loan immediately? Go through the article below:
HDFC Bank: Talking about HDFC personal loan, you would be glad to know that the lender offers you this credit facility at an interest rate that ranges between 10.99%-20.99% per annum for a tenure of up to 5 years. The maximum loan amount that you can avail is up to Rs.40 Lakh. And, the best thing is that this credit facility can be availed within 4 hours by paying a one-time processing of Rs.1,999.
ICICI Bank: Another prominent lender that can help you get an online PL instantly is none other than ICICI Bank personal loan online. This lender can offer you the credit facility for an amount of up to Rs.15 Lakh at the personal loan interest rates of 10.99%-18.49% per annum. The processing fee of the bank lies at 2.25% of the loan amount that goes for a tenure of up to 5 years. In fact, you can get the instant loan without documents if you are an existing customer of the bank.
Bajaj Finserv: From this lender, you can get the credit facility immediately for a loan amount of up to Rs.25 Lakh within 24 hours. This online Bajaj Finserv Personal loan is available at an interest rate of 10.99%-16% per annum for a tenure of up to 5 years by paying a one-time processing fee of up to 2% of the loan amount.