A short-term loan for salaried individuals a type of borrowing that provides immediate access to funds and is repaid in a short period. These loans are often used to cover unexpected expenses or emergencies, and are repaid in full, along with any fees or interest, within a short timeframe.
If you are looking for a short-term personal loan, consider our Insta Personal Loan which gives you access to funds you need in just a few moments. With pre-approved offers that you can check in just two clicks and a disbursal time of 30 minutes*, this is the ideal solution if you need funds for a short time. Both salaried and self-employed individuals can get our Insta Personal Loan.
Features of short-term loans for salaried individuals
Here are some of the features that make short-term loans such as the Insta Personal Loan an ideal choice for salaried professionals:
- Pre-approved offers: You do not have to complete the entire application process to know the loan amount you can borrow. Simply enter your mobile number and OTP to check the offer.
- Quick disbursal: Select customers can get the funds in their bank account in as little as 30 minutes*.
- Multiple tenure options: You can choose the loan amount as per your requirement and select a convenient repayment tenure of up to 96 months.
- No collateral: You do not need to provide any collateral to get our Insta Personal Loan.
Eligibility criteria for a short-term loan for salaried individuals
Existing customers get pre-approved offers and hence, do not need to check further eligibility criteria. However, some existing customers might be required to submit additional documents, such as proof of income, KYC documents, and bank statements.
New customers who have received an Insta Personal Loan offer may be subject to a CIBIL check and may need to provide additional documentation. The application process and required documentation may vary slightly for new customers.
Check eligibility criteria for Insta Personal Loan
Documents required for a short-term loan for salaried individuals
Since Insta Personal Loan provides pre-approved offers, the documentation requirement varies depending on your profile. Typically, it is a good idea to keep the following documents handy:
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements for the previous 3 months
- Utility bills for electricity and piped gas
How to calculate the EMIs for a short-term loan
You can use our Insta Personal Loan EMI Calculator to estimate the EMI amount for your short-term loan. You need to enter the tenure, loan amount, and interest rate to get the monthly instalment needed for the repayment. You also get the division of principal and interest amounts and can view your total repayment schedule.
How to apply for a short-term personal loan
Here is how you can apply for our Insta Personal Loan:
- To begin, select 'CHECK OFFER' located at the top of this page to access our online form.
- Enter your 10-digit mobile number and verify your profile using the OTP sent to your phone.
- Upon verification, you will be presented with a pre-assigned loan limit offer. You can either accept this offer or choose a lower amount if desired.
- Next, select a repayment tenure that best fits your needs.
- Finally, click on 'PROCEED' to finalise the online process.
Please note that the online process may vary depending on whether you are a new customer or have an existing relationship with us.
Conclusion
A short-term loan for salaried individuals can be a lifesaver in times of financial need. Whether you need funds for medical emergencies, travel expenses, or any other urgent requirement, Insta Personal Loan provides pre-approved offers and quick disbursal, making it the ideal choice for your immediate expenses.
*Terms and conditions apply.
