Personal Loans with Minimum Documentation

Financiers have designed instant personal loans to be processed with minimum documentation. Personal loans allow individuals to raise finances for personal expenses instantly. Instant online personal loans are availed in a matter of few hours with the right eligibility and documents kept handy.

Instant personal loans are on the rise today because of its easy approvals and flexible interest rates along with not requiring to submit collateral.

A personal loan can come handy to someone who needs money for their immediate expenses like marriage, education etc. People also opt for personal loans if they do not wish to spend a big chunk of their savings at once.

Chola offers personal loans with minimum documentation. You can now apply for personal loans through paperless digital application process and minimum turnaround time.

Features and benefits of taking a personal loan:

Immediate capital: Individuals can raise immediate capital for emergencies.

No end-use restrictions: The user can use the amount for any personal expenses.

No collateral: Personal loans do not require the borrower to provide any proof of collateral to the lender. This way, they can avail a personal loan without owning a valuable asset.

Quick approval and disbursal: Reputed lenders approve a loan application within a few minutes. Once approved, they disburse the amount within 24 hours to the borrower’s bank account.

Good for debt consolidation: In case you have several EMIs stressing you out on a monthly basis, you can take a personal loan to consolidate your debts. This will help you maintain a better credit score and loyalty among lenders.

Flexible tenure: Doing your homework and research on this matter is extremely important. There are several organizations and banks who are willing to lend you an instant loan. Flexible tenure is a great advantage when it comes to a personal loan. Loan tenure vary from three and six months to sixty months! It is always advisable to go for shorter loan tenures as it will lessen your interest rates. Opting to go for longer loan tenures will increase your interest rates and your liability period.

Maintaining a good credit score is extremely important for you to avail a personal loan with minimum to zero documentation.

Here are a few things you could do to avail a quicker personal loan with minimum documentation.

Establish a good rapport with your financier: Maintaining good credit score and being a loyal customer can help you avail a personal loan with your bank or NBFC easier than normal. Paying all EMIs on time is a key factor to do so. Your documents are already with your bank, making it easier to apply and avail a personal loan with the same bank without providing further documents.

Pay all your dues on time: Like mentioned above, paying all your dues on time is key to building trust with your financier. If you are a credit card holder, paying all your credit card bills on time gives you an impression of a loyal customer.

Do not miss payments: A missed payment to the bank is a sign of incapability of paying your dues. This is not always very well taken by the banks and lenders when you are seeking a loan. Always maintain a good credit score and credit reputation.

Chola is a great option to consider when looking for personal loans. You can avail business and professional loans as well as personal loans with Chola.

Key features of Chola personal loans are:

  • Quick turnaround period
  • Minimum to zero paperwork
  • Easy online application process
  • Easy loan tenures
  • Competitive interest rates
  • Pan India coverage
  • Loans from 1 lakh to 20 lakhs

15 thoughts on “Personal Loans with Minimum Documentation

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