By- Ankit Sharma
Personal loans are immediate loans that are sanctioned within a quick turnaround time. It is a perfect loan to borrow money to meet any emergency personal expenses. These loans are unsecured loans, implying you do not have to provide collateral as a bond to avail of this loan. Personal loans are hassle-free financial solutions for your immediate needs.
Earlier, applying for a personal loan involved lengthy paperwork and was time-consuming. Now the advent of online loan apps has simplified the process remarkably. Personal loan apps are a convenient method to avail of personal loans as it does not involve any paperwork at all. All you need to do is fill in the online application, upload the documents and track your application through the app.
Let's see the steps to get personal loans through Fullerton India's Instaloan app in detail
4 Steps to Get Personal Loan from Fullerton India Personal Loan App
Fullerton India Instaloan app is available for all salaried applicants, and can be downloaded from the Google Play Store or Apple's AppStore. Once installed, Register using your Google or Facebook credentials. You can also sign up using your email ID. Once done, check the eligibility criteria section to understand if you meet the loan's eligibility prerequisites.
Profession:
●A salaried employee of a private or public sector undertaking. Cash salary applicants will not be accepted.
Eligible Age: 21 years to 60 years
Minimum Income :
●INR 25,000 per month for applicants living in Mumbai/ Delhi
●INR 20,000 per month for applicants living in other Indian cities
Minimum Work Experience Required: 1 year
Minimum Experience in Current Company: 6 months
Minimum CIBIL Score: 750*
Maximum EMI as a percentage of Income: 65.00%*
Personal loans are immediate loans that are sanctioned within a quick turnaround time.Unsplash
You can check the maximum personal loan amount you are eligible for using the loan eligibility calculator available in the app. It will help you understand the maximum personal loan amount you can take.
2. Application Process
Before you fill in the online application on the instant loan app, you will need to authenticate your mobile number using a six-digit OTP. Once done, you will be required to enter basic personal details like name, address, date of birth, gender, marital status, contact number, address details, etc. Fill in your employment and income details like your current company, tenure in the organization, salary details, bank account details, etc.
3. Upload Documents
Scan and upload the required documents mentioned in the app and click submit.
The documents that are required to be uploaded are:
●PAN and ID proof
●Address Proof
●Salary Slips of the past 3 months
●Bank statements for the past 6 months
Once your application is submitted, based on your eligibility, you may be provided an in-principle approval. Fullerton India will then process the application further. You can track the status of your application through the app.
4. Sanction and Disbursal
Your documents and application will then go through various verification checks. If all goes well, Fullerton India will offer you the loan terms through a loan agreement. Upon receiving your signed acknowledgement, your loan will get approved, and the funds will reach your bank account.
Your loan application process is faster and hassle-free if your documentation is valid and clear and if you meet the eligibility criteria for the loan.
Why should you Avail of Online Loans through the Loan App?
Applying using a loan app has its benefits, such as:
●Quicker Approval
●Speedy Loan Disbursal
●High Loan Amount up to INR 25 Lakhs*
●Eliminates trips to Lender Office
●Minimal Documentation
●Hassle-Free Application Process
●Easy Management of Loan Account Online
Using the Fullerton Instaloan app, personal loans start at an interest rate as low as 11.99%* per annum. You can easily avail of a maximum loan amount of up to INR 25 lakhs* instantly if you meet the eligibility criteria. The documentation process is hassle-free and paperless. Install Fullerton India Instaloan app to experience convenient loan transactions
Disclaimer: (This article is sponsored and includes some commercial links)