When facing financial emergencies or unexpected situations, a Personal Loan or Cash Loan is a boon. Whether the capital is needed for dealing with wedding expenses or medical bills, a Cash Loan offers adequate funds to pay for all. Read on to understand how you can secure an instant Cash Loan in 1 hour when in urgent need of finances.
How to Get an Instant Cash Loan in 1 Hour?
Getting an instant Cash Loan is simple. You just need to follow the steps mentioned below:
- Step 1: Click the 'Apply Now' button.
- Step 2: Fill out the necessary information on the loan application form.
- Step 3: Upload the required documents and tap on ‘Submit’.
Once your information is verified and your application is approved, the loan amount will be transferred to your bank account quickly.
What are the Benefits of Getting an Instant Cash Loan in 1 Hour?
Before taking out loans in an hour, it is necessary to know about the benefits that come along with it. Some NBFCs like Poonawalla Fincorp offer a Cash Loan at an attractive rate of interest starting from 9.99% p.a. Listed below are a few of the key benefits of availing a Cash Loan:
- No Security/Collateral
As an unsecured loan, Cash Loan can be availed of without the need for security or collateral. You can easily get the cash without having to go through the hassle of pledging an asset. All you have to do is maintain a good CIBIL score and fulfil the eligibility criteria to avail yourself of the loan in no time.
- Multi-Purpose
You can take out and use a Cash Loan for any purpose you see fit. It can be for planning a wedding, home renovation, medical expenses, paying off a debt, or supporting your child’s higher education.
- Instant Access to Cash
You can reap the benefits of 1-hour loan approval by getting instant access to cash. This can be helpful during medical emergencies or for paying a tuition fee on short notice.
- Flexible Repayment Tenure
While taking out a loan, you must be aware of the EMI, which is the repayment amount that is paid in instalments. With the instant Cash Loan in 1 hour, you are given a flexible repayment period of 12 to 60 months. This tenure may be decided based on various factors like your CIBIL score and your income.
- Quick and Hassle-Free Process
The process of applying for the instant Cash Loan is simple and hassle-free. You can easily apply on the website of the lender with minimal documentation and get your loan approved within an hour.
List of Required Documents to Avail Cash Loan within 1 Hour
In today’s digital world, gone are the days of standing in long queues with piles of documents. Now, along with your application form, minimal documentation is required. You are required to submit the following documents while applying for the Cash Loan:
- Address Proof - Utility Bills, Passport, Rent Agreement.
- Income Proof - Latest salary/pay slip, latest bank statement.
- Employment Proof - Offer letter, official mail ID, employee ID card.
- KYC Documents - Aadhaar Card, PAN card or any government-issued ID.
These documents are necessary as they help the lenders in verifying your eligibility for the loan.
Calculate Your Instant Cash Loan EMI
You can calculate your interest on Instant Cash Loan EMI by using Poonawalla Fincorp’s Instant Loan EMI Calculator. To utilise the EMI calculator, input the desired loan amount, the offered interest rate, and the preferred loan tenure. The calculator will instantly show your EMI amount. Additionally, note that your actual EMI amount may vary depending on other factors affecting the final loan amount.
ALSO READ :- How To Get An Instant Paperless Personal Loan Online?
What to Know Before Taking an Instant Cash Loan?
Before taking an Instant Cash Loan you need to consider the following points:
- Compare the market interest rates.
- Check your EMI and repayment tenure.
- Take into account your overall finances.
- Go through the terms and conditions of the lender.
- Check for any hidden charges.
To Conclude
In times of financial urgency, quick access to cash is crucial. Online lending platforms like Poonawalla Fincorp, getting an instant Cash Loan in 1 hour is now a reality. With minimal paperwork and a few clicks, you can swiftly address your financial needs. So, when emergencies arise, seize the opportunity for speedy solutions and bid farewell to worries as you unlock instant cash in just one hour.
Frequently Asked Questions About Instant Cash Loan
1. Can I prepay my Instant Cash Loan?
Yes, you can prepay your Instant Cash Loan before your tenure
ends. There are no pre-payment or foreclosure charges associated with
the instant Cash Loan. Moreover, prepaying your Cash Loan does not
have a negative impact on your CIBIL score.
2. What happens if I miss the EMI of the Instant
Cash Loan?
There can be a few consequences of
missing out on your monthly EMI of the instant Cash Loan, mainly on
your credit score. It will decrease your CIBIL score and affect your
creditworthiness. Moreover, it will have an impact on your future
borrowing capacity. Hence, it is best to ensure that you don’t miss
out on your EMI payments.