Instant Loan

An instant loan online, also known as a quick personal loan or instant cash loan, provides immediate funds to individuals for personal use. It is designed to offer quick access to money, often with a simplified application and approval process.

An Now with Buddy Loan you can get an instant personal loan, which can be processed in less than 5 minutes without any extensive documentation. Instant personal loans online being at your fingertips has become even more convenient with flexible loan tenures.

Discover Instant Loan Offers from Top NBFC & Bank

Know the latest offer & get instant loan by NBFC and Bank. Explore to choose the apt loan offer, different rates available for you.

Top NBFCs Providing Instant Loans

Now enjoy the exclusive instant loan interest rates provided by top NBFC mentioned in the table below:

NBFCs Interest Rate (p.a.) Processing Fee
Muthoot Finance 14% p.a onwards Up to 3.5%
Tata Capital 10.99% p.a onwards Up to 2.75%
Bajaj Finserv 11% p.a onwards Up to 3.93%
StashFin 11.99% p.a onwards Up to 10%
Faircent 9.99% p.a onwards Up to 8%

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Note: The above mentioned rates are subject to change with the finance market and differ marginally with the respect to the individual banks.

List of Banks Providing Instant Loan

Avail the best instant loan in India from the banks mentioned below on the table. Now choose & secure your desired loan offer according to your convenient from the table below:

Bank Instant Approval Personal Loan Interest Rate Loan Tenure Processing Fee
HDFC Bank 10 Seconds 10.50% -21.00% p.a. 12 – 60 months Up to 2.5%
Yes Bank 1 Minute 10.00% p.a. onwards 12 – 60 months Up to 2.50% of the loan amount
IDFC First 2 Minutes 10.49% p.a. onwards 3 – 60 months Up to 3.5% of the loan amount
Note: The above mentioned rates are subject to change with the finance market and differ marginally with the respect to the individual banks.

Banks Vs NBFCs - Which is Better for Instant Loans

Embark on a financial expedition but first compare! Below is a comprehensive comparison between instant loan provided by NBFCs and banks for you to make an informed choice for your financial needs.

Factors NBFC Bank
Interest Rates May vary, generally higher than banks Generally lower interests than NBFCs
Loan Amounts Usually offer smaller loan amounts Often provide higher loan amounts
Processing Fees Potentially higher fees and charges
(Ranges from 1% to 3% of the loan amount)
Varies but typically lower than NBFCs

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Note: The above mentioned rates are subject to change with the finance market and differ marginally with the respect to the individual banks.

Instant Loan EMI Calculator

An Instant Loan EMI calculator(Equated Monthly Installment) helps you determine your monthly payments towards your instant loan. It takes into account the loan amount, the interest rate, and the loan tenure to calculate the EMI.

To use an instant loan EMI calculator, you only need to enter your loan amount, loan period and interest rate.

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Instant Loan Interest Rates and Charges

Taking your time and carefully choosing the right lenders and interest rates will help you to get the best offer for you. The table below entails the latest instant loans interest rate and charges provided by various lenders.

Loan Amount ₹1 Lakh to ₹50 Lakh
Interest Rates 9.99%* p.a. onwards
Processing Fees Up to 2% plus applicable taxes
Instant Loan EMI Starting from ₹2,124* per Lakh for 60 months
Instant Loan Tenure 12-60 months
Foreclosure/Pre-Payment Charges 0%* If paid from own sources

Instant Loan Eligibility Criteria

Unlocking financial freedom keeping your eligibility criteria in check!

Before you apply for the instant loan, please ensure that you fall under all the instant loan eligibility criteria as outlined below:

Age 24 years-58 years
Citizenship Indian citizen
Employment Applicant should have stable income source
Work Experience 6 months - 24 months
Monthly Income ₹15,000

Documents Needed to Apply for Instant Loan

To apply for an instant loan or small cash loan, you'll typically need these essential documents. Here’s a list of documents required for an instant loan.

For Salaried Employee

For Self-Employed

Features & Benefits of Instant Loan

One of the most convenient features of an instant loan is that you can avail instant cash loan in 5 minutes. However, there are many other that makes instant loan or quick loan the easiest finance solution and cover all your expenses with an instant loan.

No hidden Charges

Get instant loan with
no hidden charges

Online Process

Get instant loan under the
most convenient process.

Zero Collateral

Get loan without
pledging any collateral.

Interest Rate

Get the most affordable
interest rate

Quick Approval

Quick access to your loan

No Prepayment

No hidden charges
and extra penalties.

Steps to Get an Instant Loan in 10 Minutes

Before you proceed to apply for an instant loan you should ensure to check eligibility. Here’s the step-by-step process that you can follow to apply for an instant loan on Buddy Loan:

  • Step 1: Visit or Download & install the Buddy Loan app (Android or iOS).
  • Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
  • Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
  • Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
  • Step 5: Enter your work details (Including company name, years of service and Designation)
  • Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
  • Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Instant Loan Repayment

Borrowers can choose from flexible installments, lump-sum payments, and penalty-free prepayment. These options allow borrowers to customize their repayment schedule, ensuring a stress-free experience

Such easy repayment options allow borrowers to tailor their repayment schedule according to their financial situation, ensuring a smooth and stress-free loan repayment experience.

Frequently Asked Question on Instant Loans

The fastest way to get your instant loan is with Buddy Loan. You can apply for a pre-approved loan and get your instant loan approved in 5 minutes.

An instant approval personal loan is a type of loan where the approval decision is provided within minutes of application submission. This type of loan aims to offer borrowers a fast and streamlined borrowing experience.

Eligibility criteria for an instant loan vary depending on the lender. Typically, borrowers need to meet certain requirements such as being of legal age, having a stable income source, a good credit history, your employment status and debt-to-income ratio.

The minimum salary requirement for an instant loan begins from 10,000 . However, it also depends on factors such as the loan amount and the borrower's creditworthiness.

Yes, you can get an instant loan without income by providing documents like identity proof, address proof and 3 months bank statements income credits.

To get an instant loan within an hour, choose a lender that offers quick processing times. Research lenders that prioritize speed and efficiency, complete their application process promptly, and provide all necessary documents accurately.

You can avail an instant loan without documents in India. However some lenders may ask for documentation like identity proof,address proof, income statements, and bank statements to assess the borrower's eligibility and creditworthiness.

You can find lenders who provide loans to individuals with low or no credit scores, but these loans may have higher interest rates or other specific requirements.

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