Anyone can find themselves in need of quick cash, whether it is a medical emergency or a situation that demands immediate expenses. People often turn to personal loans to cover these costs without putting a dent in their savings. However, the application and approval processes for traditional personal loans are more time-consuming and have certain eligibility criteria the borrower needs to meet before the loan can be disbursed. Individuals in a time-sensitive financial bind may not have the luxury of time for a loan application and disbursal process before receiving the money they need.
What is a fast loan?
In general, loans with fast approval and application processes are called as fast loans.
Instant and fast personal loans are a popular choice for individuals who need quick cash in an emergency. These instant loans have an edge over traditional personal loans due to the rapid disbursal of funds.
Features and benefits of a fast personal loan
Online, fast personal loans come with a host of features, notably:
- Swift disbursal
- Quick application process
- Flexible repayment tenures
Bajaj Finance introduced Insta Personal Loans to cater to these exact needs. The latest addition to our product portfolio. Insta Personal Loans are essentially instant personal loans. These loans are designed to meet the specific needs of borrowers who may require immediate access to a significant amount of funds. The fast loan disbursal process is one of the most significant features of these loans.
There is no need to complete a long application procedure to figure out how much of a loan you can receive. Existing consumers receive a pre-approved offer, indicating that they are already qualified to receive a loan for the specified amount. New customers can quickly check their pre-assigned limit by providing only their mobile number and OTP.
How to apply for a fast loan online
When you are looking to borrow money immediately to cover urgent expenses, quick loan disbursal becomes a top priority.
You can simply visit the Insta Personal Loan page on the Bajaj Finserv website and click on 'CHECK OFFER.’ To see a pre-assigned loan limit on the screen, you just need to input your 10-digit mobile number and OTP. There are options for adjusting the loan amount and loan tenure, allowing you to select loan parameters that meet your specific requirements. You can receive funds of up to Rs. 12,76,500, and the entire application and disbursement procedure can be completed in just 30 minutes* to 4 hours.
How to decide your loan amount for faster loan disbursal
Existing customers receive pre-approved offers, while new customers can receive pre-assigned limits. You have the option of accepting the offered amount or settling for a lesser sum. To select a suitable loan amount, you can use the Insta Personal Loan EMI Calculator to determine the EMIs that best fit the budget. You only need to enter the amount, tenure, and interest rate to estimate monthly instalments using the online EMI calculator. You can modify the amount of the EMI to match the capacity to repay. If the tenure is increased, the EMIs will decrease, and vice versa. This can be accomplished by adjusting the corresponding fields on the EMI calculator.
In addition to calculating the EMI, the Insta Personal Loan EMI Calculator divides the principal and interest amounts. You can also view your monthly or annual EMIs by selecting "view repayment schedule."
In summary, an Insta Personal Loan is an ideal choice for those looking for fast loan disbursal to cover unforeseen and immediate expenses. You can know more about Insta Personal Loan and check your offer by visiting the link below.
*Applicable for select customers
