In today’s digital age, applying for a personal loan has become much simpler, especially with the option to go paperless. With just a few clicks, you can apply for a paperless personal loan online, saving time and avoiding the hassle of handling physical documents. It’s a convenient way to access funds quickly when needed. You can get a paperless loan on Bajaj Markets at interest rates starting from just 9.99% p.a. Let’s understand this in further detail.
Paperless personal loans are digital loans that allow you to apply, submit documents, and receive approval entirely online, without the need for physical paperwork. These loans are designed to streamline the borrowing process, eliminating the hassle of visiting a bank or lender’s office. All necessary verifications and approvals are done digitally, making it easier and quicker to access funds. Whether it's for unexpected expenses, medical emergencies, or planned purchases, paperless personal loans offer a convenient solution by saving time and effort.
A paperless personal loan follows a simple and efficient process, designed to make borrowing hassle-free. Here’s a step-by-step guide to how it works:
Eligibility Check
First, you need to check whether you're eligible for the loan. This can be done by checking the basic criteria listed by the lender you choose.
Online Application
If you can meet their set requirements easily, proceed with the loan application. Provide your personal and professional details. Also, submit the loan amount, interest rate, and tenure you wish to opt for. The entire process can be completed online, eliminating the need for physical visits.
Document Upload
After submitting the application, a representative will reach out to you after verifying the details mentioned in the loan application. To further the process, they may ask you to upload digital copies of your identity proof, address proof, and income statements on their portal.
Verification Process
The lender uses digital verification systems to cross-check your documents and personal details. This could involve linking your bank account, verifying your credit score, and other financial details.
Loan Approval
Once your details are verified, the lender processes the approval. Since the process is digital, the approval often happens faster than traditional loan applications.
Disbursement
On approval, the loan amount is directly credited to your bank account. With paperless loans, disbursement typically happens within a few hours or days, making it a quick solution for your financial needs.
High Loan Amount
You can get high loan amounts of up to ₹50 Lakhs with personal loans available on Bajaj Markets
Minimal Documentation
An easy and hassle-free paperless personal loan requires little documentation which can be scanned and submitted online
Flexible Repayment Tenure
You can choose a repay the loan over a tenure of up to 96 months
Low Interest Rate
You can save on repayment costs with low personal loan interest rates starting from just 9.99% p.a.
No Collateral Required
On Bajaj Markets, you do not have to pledge any security or collateral to get a personal loan
Here are some basic criteria you may be required to meet to qualify for a paperless personal loan:
Nationality: Indian
Employment type: Salaried or self-employed individual
Age: Above 18 years
Minimum income: ₹10,000 per month
Minimum work experience: 1 year
CIBIL score: 600 or more
While the requirements may vary depending on the lender you choose, there are some common documents you need to furnish when applying for the loan. You simply need:
Proof of Identity:
Aadhaar card
PAN card
Driving licence
Voter ID
Any other official identification document with your photo and name appended to it
Proof of Residence:
Utility bills
Passport
Ration card
Voter ID
Financial Documents:
Bank statements
Form 16
Salary slip for the last 2 months
To speed up the process, make sure you have soft copies of these documents handy with you. Also, note that the lender you choose may require you to submit some additional documents besides the ones mentioned above. Get a complete list of the documents you need to submit beforehand for a smooth application process.
To apply for an instant, paperless personal loan online on Bajaj Markets, simply follow these steps:
Click on the ‘CHECK OFFER’ option on this page
Provide your personal and professional details
Select the lender you wish to get the loan from
Enter your preferred loan amount and tenure
Check the details entered in the online form and submit
After this, your application will be verified and a representative of the lender will reach out to you for further proceedings.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Frequently Asked Questions
Can I get a personal loan without submitting any income proof?
Yes. On Bajaj Markets, you can get personal loans without submitting any income proof. This is possible due to lenders like Zype, who simply require your PAN or Aadhaar number. They have no documentation requirements, making it easy for you to get the loan.
Can I get a personal loan without ITR?
Yes. Simply provide other income proofs such as your salary slips, bank statements, etc. This will help the lender assess your income and provide a personal loan offer accordingly.
Where can I get instant loans for self-employed applicants without submitting any documents?
On Bajaj Markets, you can get a paperless personal loan for self-employed individuals.
What is the maximum loan amount I can get without submitting any documents?
You can get a paperless loan of up to ₹50 Lakhs on Bajaj Markets. However, the amount offered to you is subject to your eligibility and the lender’s policies.
Is it possible to get an instant cash loan in 1 hour without submitting any documents?
Yes. You can get an instant paperless personal loan on Bajaj Markets from lenders like Zype. As the process is completely digital, the time taken is usually less compared to normal personal loan applications. Also, post-approval, the amount is disbursed to your bank account quicker, usually within 5 to 10 minutes. So, it may be possible to get the loan within an hour; however, this is subject to the completeness of your application, your loan eligibility, and the lender’s policies.
