Short-term loans, offered by various financial institutions, including banks, credit unions, and online lenders, are an effective way to manage your urgent expenses without depleting your savings.
What is a short-term loan?
A short-term loan is a type of borrowing that is typically repaid over a short period, usually within a year. These loans are often used to cover unexpected expenses or temporary cash flow issues. They are usually unsecured, meaning they do not require collateral, but they may have higher interest rates compared to long-term loans. Short-term loans are popular among individuals and businesses looking for quick access to funds with a relatively fast repayment schedule. Insta Personal Loan, offered by Bajaj Finance Limited, is a great option to when you need funds urgently, to manage emergencies. You can choose a repayment term of your choice with flexible tenures ranging from 12 months to 87 months.
Features of a short-term loan in Delhi
Here are some of the features that make Insta Personal Loan an ideal choice when you need money urgently:
- Just 2 steps to check your offer: You do not need to go through a lengthy application process to know how much funds you can borrow. Simply enter your mobile number and OTP to check the offer.
- Hassle-free application: Having a pre-approved offer makes the entire loan process much faster and smoother.
- Quick disbursal: You can get the funds you need in as little as 30 minutes*.
- Flexible repayment: Choose a convenient tenure ranging up to 87 months.
Eligibility criteria for a short-term personal loan in Delhi
Since Insta Personal Loan provides pre-approved offers, the eligibility depends on whether you are a new customer or have an existing relationship with Bajaj Finance Limited.
For existing customers, no further eligibility criteria are necessary, as you already have a pre-approved offer. 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.
Documents required for a short-term personal loan in Delhi
Since Insta Personal Loan provides pre-approved offers, the documentation requirement varies as per your profile and relationship with us. 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
Read all about the eligibility criteria and documents required for our Insta Personal Loan.
How to apply for a short-term personal loan in Delhi
Here is how you can apply for our Insta Personal Loan in Delhi:
- 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
In conclusion, a short-term loan can be a helpful financial tool in times of need, providing quick access to funds for emergencies.
Check your pre-approved loan offer
*Terms and conditions apply.
