Cash salary personal loan vs Insta Personal Loan

Explore the distinctions between cash salary personal loan and Insta Personal Loan to choose the best fit for your urgent financial requirements.
Cash salary personal loan vs Insta Personal Loan
5 min read
26 July 2023

Unexpected expenses can throw our carefully balanced budgets into disarray, creating significant financial strain. In such situations, personal loans become a lifeline for individuals seeking to bridge the gap between various expenses, whether it is an unforeseen medical emergency, home renovation, or wedding expenses.

Among the various personal loan options available in the market, the two options that stand out are personal loans for professionals who receive a cash salary, and an instant loan, such as the Bajaj Finance Insta Personal Loan.

What is a cash salary personal loan?

A cash salary personal loan is a type of unsecured loan where individuals can borrow money based on their monthly income. This type of personal loan is an appealing choice for salaried professionals who receive their earnings in cash instead of having them directly deposited into their bank accounts.

Let us delve deeper and understand the differences between both

  • Financing based on income
    Insta Personal Loan is also an unsecured form of personal loan. Unlike cash salary personal loans, this loan option caters to self-employed individuals as well. This larger qualifying requirement makes it possible for freelancers, business owners, and small business owners to also take advantage of this lending option.

  • Eligibility and document requirements
    Lenders assess your creditworthiness for a cash salary personal loan based on the eligibility criteria that have been set by them. If you meet the criteria, you must submit documents such as proof of income, employment details, identification documents, and bank statements to complete your loan application.

    In the case of our Insta Personal Loan, we extend pre-approved offers after making these eligibility checks and verification. Certain existing customers can get an Insta Personal Loan without having to submit any documentation, such as salary slips or bank statements.

  • Disbursal time
    A cash salary personal loan offers quick application and disbursal processes. Financial institutions understand the nature of personal loans and, therefore, have streamlined procedures to ensure that eligible applicants receive funds within a few days.

    The most significant benefit of an Insta Personal Loan is its quick disbursal time. All procedures are expedited to ensure maximum convenience for customers, with funds being transferred into their bank account in as little as 30 minutes* to 4 hours.

  • Repayment tenures
    Cash salary personal loans offer a degree of flexibility when it comes to repayment tenures. Borrowers are obligated to repay the loan within the tenure that has been decided by their chosen lender.

    Bajaj Finance Insta Personal Loans offer flexible loan tenures of up to 63 months, allowing their customers to repay their loans comfortably.

    Borrowers can make an informed decision that fits their financial capacities once they have an in-depth understanding of these factors.

    You can visit our Insta Personal Loan page to find out more about the benefits of an instant loan, and to check your offer online.

    *Applicable for select customers

Disclaimer

While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply

Bajaj Finserv App for All Your Financial Needs and Goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Explore and apply for co-branded credit cards online.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on No Cost EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

Disclaimer

While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply

Frequently asked questions

What is the difference between a cash salary personal loan and an Insta Personal Loan?

A cash salary personal loan is an unsecured type of loan that allows individuals to borrow money according to their monthly income. Our Insta Personal Loan caters to self-employed individuals as well. With our Insta Personal Loan, we extend pre-approved offers to our customers.

Can I get an Insta Personal Loan if I get my salary in cash?

You can go ahead and check if you have our pre-approved offer. All you need to do is enter your mobile number and OTP to check the offer.

How do I apply for a cash salary loan?

All you need to do is click on ‘CHECK OFFER’ on this page and enter your mobile number and OTP to check your Insta Personal Loan offer.

What is the maximum amount that can be borrowed with a cash salary?

The maximum Insta Personal Loan amount you can borrow is Rs. 12,76,500.

What are the repayment terms for a cash salary loan?

Our Insta Personal Loan provides flexible loan tenures ranging from 6 months to 63 months.

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