Read our guide to applying for a Personal Loan online

2 min read

Digitisation has simplified all aspects of life, including securing a paperless personal loan. Once you choose a lender, you can apply online in no time and access the financing you need.

What is the application procedure for a paperless personal loan?

  • Visit the lender’s website and locate the online loan application form.
  • Fill in all necessary details, including employment, financial and personal details.
  • Choose the right loan amount and a comfortable tenor for repayment.
  • Provide soft copies of all documents required to process your loan application.
  • Await swift approval and disbursal.

To ensure that approval and disbursal are indeed swift and instant, you must meet the eligibility criteria and submit the necessary documents.

Paperless personal loan: Eligibility criteria

Typically, you must have a credit score of 750 or above, fall within the right age bracket, be an Indian citizen, work in a private/public company or an MNC, and earn the minimum salary as defined by the lender.

Paperless personal loan: Documents required

Once you meet the eligibility criteria, gather the necessary documents. Commonly, lenders require the following:

  • Identity and address proof: Driver’s license, Aadhaar card, voter’s ID, or passport
  • Proof of employment: Employee ID card
  • Proof of financial stability: Bank account statements and salary slips

In your hurry to get a loan instantly, don’t forget to check personal loan interest rates and other charges. This will help you be sure of smooth, affordable repayment.

Also, consider a paperless personal loan from Bajaj Finserv. Get a nominal rate of interest, Flexi facility and apply online. Best of all, you can get approval in 5 minutes* and funds in your account in 24 hours*.

*Conditions apply

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