Unexpected financial contingencies may come unannounced, and you might have to raise capital to deal with the matter in a short span. To raise money in such situations, you can reach out to your lender for an instant personal loan. The personal loan comes with no restrictions and can help you pay for all sorts of credit requirements.
Fullerton India online personal loan can help you fund your child’s education, business expenses, travel expenses, credit card bills, medical emergency, wedding expenses, or any other urgent requirement. Using it, you can avoid unnecessary trouble or hindrance that might occur due to lack of funds.
To get instant approval, make sure that you have all personal loan documents in place before applying online with your lender. This article will help you understand how you can avail a personal loan when you need money but do not have any collateral to back you up.
How Unsecured Personal Loans Work?
Once approved for an unsecured personal loan, you get the credit disbursed in your bank account. Depending on the lender, an individual loan can take up to a few days or weeks to process. To get disbursal shortly after successful approval, you can apply for an unsecured personal loan with Fullerton India.
While secured loans require you to pledge collateral to avail a loan, an unsecured loan is granted purely based on your creditworthiness. You can get quick approval for an unsecured personal loan if you maintain a healthy credit score and match certain other eligibility criteria. Even though you are eligible for the loan, it is important to make sure you can repay the amount in small EMIs without hampering your monthly expenses. Failing to repay on time can negatively impact your credit score.
Unsecured personal loans require you to submit essential documents to verify your identity and creditworthiness. Make sure to keep all the personal loan documents listed on your lender’s website handy. It will help you save time in expediting your loan request.
How to Apply for a Collateral-free Personal Loan?
Step 1: Compare Instant Personal Loan Rates
Before getting ahead, compare interest rates for instant personal loans without collateral among various lenders as well as other fees and charges so that you can make an informed decision. Fullerton India personal loan interest rate starts at 11.99% per annum.
Step 2: Find a Suitable Lender
Choose the lender who provides your personal loan instantly and whose eligibility criteria match your profile.
Step 3: Fill in the Application Form
Once selected, you can apply on your lender’s website through an online application. Fill in your details in the form.
Step 4: Submit the Documents Required
Your lender requires certain documents, including PAN, address proof, proof of identity, salary slips, bank statements, etc. Submit all relevant documents with your lender. Once submitted, your lender will evaluate your eligibility and verify your documents. Upon successful verification checks, your lender will contact you to discuss the terms of the loan, and your loan gets approved.
Step 5: Await Disbursal
Now you can just sit back and wait while your lender will transfer the funds in your bank account within due time. You can access the funds once they reflect in your bank account and make monthly repayments as per the loan schedule. Fullerton India disburses the funds in your bank account shortly after loan approval.
Why should you opt for an unsecured instant personal loan from Fullerton India?
Collateral free loans are best for urgent requirements, and they can be availed instantly without much documentation as compared to secured loans. The interest rates offered by many banks are high, and they require days to process your application. However, applying with Fullerton India can help you save time and efforts.
You can apply online on their website, and the verification will get started. Salaried applicants can also use the Fullerton India InstaLoan app to procure a personal loan swiftly. The amount will get credited to your account directly after successful approval.
An unsecured personal loan is one of the best ways to finance urgent credit requirements. It is one of India’s most trusted credit instruments when you have none to present to your lender. You can get access to funds instantly based on your eligibility.
To improve the chances of getting loan approval, make sure to check out the instant personal loan eligibility calculator online. Further, keep all required personal loan documents in place before applying for a loan to avoid any bottleneck in your application process. With this article, you can get all the required information about how you can avail an unsecured instant personal loan with Fullerton India and apply without any more confusion.