VISA AND FLIGHTS
Application fees are a large part of the expenses associated with higher education. More so when you factor in the cost of flights, visas, and other paperwork needed for an international course.
COURSE FEES
Education loans will likely cover the cost of the tuition, but an Insta Personal Loan with a high amount and flexible repayment options gives you the freedom to cover unforeseen expenses.
LIVING EXPENSES
Rent is only the beginning of your living expenses. Your overall expenses also include costs for groceries, transport, mobile, internet, and other items. These may set you back by an enormous amount.
Features and benefits of our Insta Personal Loan
00:35
All you need to know about our Insta Personal Loan
Watch this video to know everything about our Insta Personal Loan - features and benefits, fees & charges, etc.
-
Pre-assigned limits
No need to complete the entire application process to know how much loan you will get.
-
All you need is a valid mobile number
You can check your Insta Personal Loan offer by entering your mobile number and OTP.
-
Immediate processing
Our Insta Loans work like a green channel with no documentation required* and money in your account in just 30 minutes*.
-
Flexible loan tenures
Manage your loan repayment with options ranging from 6 to 63 months.
-
No hidden charges
You can read our fees and charges on this page and on our loan documents. There are no hidden charges.
*Applicable for select customers.
-
Still haven’t found what you’re looking for? Click on any of the links at the top of this page.
EMI Calculator
Plan your instalments better.
Eligibility criteria and documents required
Anyone can opt for our instant personal loan. Your eligibility and documentation requirement depends on whether you are a new customer or have an existing relationship with us.
If you are an existing customer
Since you are an existing customer with a pre-approved offer, there are no additional eligibility criteria that apply to you. Some of our existing customers may be asked to submit additional documents, such as your income proof, KYC documents, and bank statement.
If you are a new customer
Customers with an instant personal loan offer may need to go through a CIBIL check and provide additional documents.
How to get an Insta Personal Loan
00:49
Fees and charges on Insta Personal Loan
| Type of fee | Applicable charges |
Rate of interest |
13% to 38% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes) |
| Documentation charges | Not applicable |
Bounce charges |
In case of default of the repayment instrument, Rs. 700/- per bounce will be levied. |
Penal interest |
Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of the monthly instalment. |
Prepayment charges* |
Full prepayment: Part prepayment: *Foreclosure will be processed post clearance of first EMI |
Stamp duty |
Payable as per state laws and deducted upfront from loan amount. |
Mandate rejection charges |
Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered. |
Broken period interest / Pre monthly instalment interest |
It is defined as the amount of interest on the loan for the number of days which are: Broken period interest is deducted from the disbursement itself. Scenario 2 - Less than 30 days from the date of loan disbursement: Interest on the first instalment will be charged for the actual number of days. |
| Annual Maintenance Charges | Not applicable |
*Part-prepayment should be more than one EMI.
For Micro Finance Loans, please note below:
Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 13%, 38%, and 35.71% per annum respectively. Part-prepayment and foreclosure charges are NIL.
Understanding Insta Personal Loans
-
If you are an existing customer
Our existing customers enjoy the benefits of pre-approved loan offers. These offers come with pre-assigned limits. You don’t need to complete an application to know how much loan you are going to get. You can get this information by entering your mobile number and OTP.
-
If you are a new customer
We have created a service wherein anyone with a valid mobile number can check for an Insta Personal Loan offer. These offers come with pre-assigned limits. However, we may need additional documents to complete the insta loan process.
-
If you don’t see an offer
In the above cases, if you do not see an insta loan offer or need a higher loan amount than the pre-assigned limit, you have the option to go through our regular online application process that takes less than 5 minutes.
Frequently Asked Questions
You do not need to put up any collateral or security for our Insta Personal Loan.
You can get our Insta Personal Loan within 30 minutes* to 4 hours.
*Terms and conditions apply.
You can get funds up to Rs. 12,76,500 with our Insta Personal Loan.
The time it takes for a loan to be approved varies from lender to lender. Since our Insta Personal Loan provides pre-approved offers, you do not have to wait for approval after application.
You can apply for our Insta Personal Loan in just a few clicks:
- Click on ‘CHECK OFFER’.
- Enter your 10-digit mobile number and OTP.
- Go with the pre-assigned limit or choose a different loan amount.
- Choose a repayment tenure that suits you best.
- Click on ‘PROCEED’ to complete the online process.
The online process may differ depending on whether you are a new customer or have an existing relationship with us.
