Get Instant Paperless Personal Loan Online

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.

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 ‘Apply For Loan’ 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.