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How To Get A Personal Loan Without Documents

  • Highlights

  • Few lenders need minimal documentation to sanction loans

  • Opt to borrow from a lender you have a relationship with

  • Some personal loans offer the instant approval feature

  • Opt for the Bajaj Finserv Pre-approved Personal Loan offer

Whether you’re looking for a personal loan without documents in Mumbai or any other city in India, keep in mind that documents are usually required by lenders to verify your identity, financial standing, etc. However, the need for paperwork has been minimised thanks to fintech, which allows you to apply online and access your loan amount without visiting a lender in person. Technology has enabled lenders to sanction a personal loan with minimal documentation as all your necessary information is easily accessible online.

Check your cibil score for free

Here are a few easy ways to get a personal loan without needing to submit too many additional documents.

1) Choose a financial institution that you maintain a relationship with

Loyalty goes a long way in the finance world, and this is especially true when it comes to borrowing credit. If you’re a long-term patron of a financial institution, you can easily avail a personal loan without documents. This is because the lender will already have the important information on hand and has access to your financial history. Some lenders may even sanction a personal loan without income proof if your profile indicates a significant amount of wealth.

2) Maintain a high credit score

Since a personal loan is an unsecured form of credit, lenders stress on your credit score to determine the risk involved in sanctioning your application. This is why it is important to maintain a high CIBIL score, as it tells lenders that you have been responsible with borrowed credit in the past. It also indicates that you are less likely to delay repayment or miss EMIs. In fact, some lenders may even sanction a loan without your salary slips and bank statement being submitted.

Additional Read: Personal Loan with Bad CIBIL Score

3) Choose a lender that offers the instant approval feature

Typically, lenders that have the instant approval feature attached to their loan offers, require only the bare minimum when it comes to documentation. For example, the Bajaj Finserv Personal Loan offers online application and you can get loan approval within 5 minutes. Further, this loan also offers fast disbursal times as you can get the entire sanction in your bank account within 24 hours of approval.

4) Avail of a Pre-approved Offer

To truly experience minimal or zero document loan applications, simply opt for a pre-approved offer. This way, you can easily access an offer that is pre-approved based on your financial profile. These offers are created specifically for you and give you a sanction at a comfortable interest rate.

Additional Read: How to Check your CIBIL Score?

While it is possible to get a quick personal loan without documents, remember you may still need to submit some documents with a reputed lender. So, research beforehand to avoid any surprises in the future. To get started today, check your pre-approved offer online and access a customised personal loan offering that offers instant online approval.

The content of this document is meant merely for information purposes. The personal loan features mentioned in this article are subject to updation, completion, revision, verification and the same may change materially based on policy revisions. For more details, please visit our Personal Loan terms and conditions page here.

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