Get Instant Cash Personal Loan in 5 Minutes - How?

Nowadays, it is not difficult to apply for a loan in 5 minutes. Since money lending and loan applications started online, applying for instant loans became easy. Whether a credit website, lending portal, or a personal loan app, you can choose either platform to avail loan in 5 mins. The online loan procedure is minimal and user-friendly.

Earlier with traditional ways of a loan application, it is hard to believe that loans can be availed in just 5 minutes today. It is called an instant loan because the loan money is disbursed in the borrower’s bank account within 24 hours after verification of mandatory details.

Types of Loans Available Online in 5 Minutes

So, which types of loans are available online in 5 minutes? Predominantly, there are two kinds of loans; secured and unsecured. Secured loans are bounded by collateral in nature where you need a guarantor or an asset against the loan, whereas unsecured loans like personal loans are collateral-free and do not require any asset against the loan. Hence, instant personal loans are quickly approved and disbursed within 5 minutes.

• Secured Loans: Secured loans require collateral, such as a guarantor or an asset, against the loan. These loans are typically used for larger amounts and longer terms.
• Unsecured Loans: Unsecured loans, such as personal loans, do not require any collateral. These loans are approved and disbursed quickly, often within 5 minutes, making them ideal for emergencies.
• Instant Personal Loans: Instant cash loans are more popular among youth and tech-savvy individuals. Instant loans are easily accessible and reachable at the tip of your finger through smartphone apps available on the Google Play Store. So, whenever a financial emergency arises, you know how to organize immediate cash in minutes.

Features and Benefits of Instant Cash Loan

There are numerous financial institutions and NBFCs in India offering instant personal loans or small cash loans immediately. One such instant loan app is “Hero FinCorp Instant Personal Loan” an instant personal loan providing unified financial solutions for all your monetary issues instantly within 24 hours or in 5 minutes with the following features and benefits associated with it:

• Instant approval - When you are in urgent need of funds, instant loans are best to avail, as the loan procedure is fast and the amount gets instantly disbursed within a day or 5 minutes of real-time verification.
• Loan EMI calculator - The instant loan app has an in-built EMI calculator that allows borrowers to flexibly choose the percentage of interest and loan tenure. Once you are clear with the EMI, the loan application is completed in 5 minutes.
• No physical documentation - This is one major reason why you can avail personal loans in 5 minutes. The documentation required is paperless. This means you only need to verify KYC details through Aadhar and PAN card numbers. Paperless documentation eliminates the paperwork and helps in quick loan approval.

Eligibility Criteria to Avail Instant Cash Loan in 5 Minutes

To get the loan approval instantly in 5 minutes, your eligibility criteria should meet the lender rules and standards. Mismatch of eligibility criteria can delay the loan approval:

• Borrower must be in an age group of 21 - 58 years
• Borrower must be a citizen of India
• Borrower must earn a minimum income of Rs. 15,000 monthly
• Borrower should submit at least 6 months of salary slip or bank statement

So, yes! With finance and technology coming together, it is possible to avail personal loans online in 5 minutes. Hero FinCorp Instant Personal Loan is indeed a reliable loan app helping with 5 minutes loans up to 3 lakhs.

Documents Requirements for Instant Cash Loan in 5 Minutes

The need for instant cash can arise at times, so the required documents are minimal and paperless. This streamlines the process, avoiding lengthy documentation. Keep your KYC details and income documents ready for a quick online application. Below is the document list:

1. Aadhaar Card Number linked to your mobile number for one-time password verification or Smart Card Driving License.
2. PAN Card Number
3. Address Proof: Aadhaar or Smart Card Driving License (anyone).
4. Photo ID Proof: Name, age, gender, photo.
5. Income Proof: 6 months’ bank statement.

Steps to Apply Personal Loan to Finance Mobile Phone

Step 1: Visit Hero FinCorp official website or download the Hero FinCorp loan app.

Step 2: Select the 'Apply Now' option.

Step 3: Input your mobile number and confirm the OTP sent to the provided mobile number.

Step 4: Indicate the desired loan amount.

Step 5: Validate your KYC details to assess income eligibility.

Step 6: Press 'Submit' to finalize your application.