Don’t worry about documents to get an instant loan, Know-how?

With the advent of technology, the financial service sector has undergone significant changes to enhance user experience, ease of business, and increase customer reach. Earlier, people spent hours together standing in the queue at a bank to get a loan sanctioned and funds disbursed. Now, this is feasible with the click of a button from home; you need not physically go to a bank.

There might be situations where you need an instant loan without documents due to a shortage of time. Do you think it is feasible? Yes, obtaining an instant personal loan without any documents is possible.

What is a Personal loan?

  • It is an unsecured loan where you are not required to submit any collateral security against the sanctioned loan.
  • A personal loan may be availed to cover any of your expenses. Unlike a car/ home loan issued for a specific item, a personal loan can be availed for any requirement.
  • No restriction is imposed regarding the need for one to opt for a personal loan.
  • It can be availed for any reason, be it for hosting a party/ payment of school fee/ funds for a wedding/ payment of EMI for a mobile, etc.
  • It is to be repaid within 1-5 years; the EMI option is available to make it user-friendly and increase customer reach.
  • The interest rates applicable are reasonable and affordable.
  • The amount of loan sanctioned depends on your credit profile and past repayment pattern.

In addition, never opt for a personal loan beyond your requirement and capability to repay because:

  • It negatively impacts your credit score if not repaid within the timelines, affecting your following loan requirement.
  • It becomes a burden to pay EMIs if you take a loan beyond your repayment capability.

Therefore, taking a loan based on your credit profile is always recommended.

Before we understand how to get an instant loan without documents online, here are some key points to note before applying for a loan:

1) Repay the existing dues on time:

Any lender would examine the repayment pattern of the existing loans to evaluate the possibility of delay in repayment of EMI and the probability of default. Therefore, it is necessary to maintain a keen look at the current repayment schedule and past dues, if any are to be repaid immediately, before opting for a loan without documents.

2) CIBIL Score:

Maintaining a high CIBIL score is necessary to obtain an unsecured personal loan. It brings a sense of confidence to the lender in your capability to repay. CIBIL score is determined based on your repayment history, consumption of credit assigned, credit mix, and credit period. 

3) Debt income ratio:

The debt-income ratio is the amount of debt divided by the income of the requisitioner.

It indicates the amount of debt one holds against the income earned. It is generally advised to maintain a debt-income ratio of below 50%. It ensures the lender’s income is sufficient to repay the EMIs. In contrast, a higher ratio indicates that the debt amount is far beyond the income earned and creates doubts about the repayment capability.

Now that the basic parameters are in place, let’s try to understand ways to obtain an instant personal loan without documents:

4) Approach a known financial institution:

Imagine a situation where you had your bank account for over 15 years with XYZ Bank and also held a Car/ home loan with the same bank for the last eight years. It means XYZ Bank has access to your account balances and loan details. Therefore, you have had a long-standing relationship with the bank for a considerable period. Approaching the same bank to serve your unsecured loan requirements might be a significant step because:

  • Bank already has all the required documentation and access to your financial records
  • A loyal relationship is built with the bank; which shall help in faster turnaround time for loan sanction

5) Opt for the instant loan feature:

Many lenders provide loans without documents. It is therefore advisable to look out for such lenders and obtain an instant loan feature without submitting any documents.

6) High credit score: 

Maintaining a high credit score becomes even more critical for an unsecured personal loan. Because there is no collateral security associated with the loan, one would look at the credit score to establish the capability to repay EMIs without fail and evaluate the probability of default in repayment. In addition, you may get a preferential interest rate based on your credit score.

7) Pre-approved loans: 

Pre-approved loans are the best option on the list if you want to experience the feature of instant loans without documents at their best.

In a pre-approved loan facility, the lender fixed a loan amount based on your repayment capability/ credit profile to serve your financial emergencies. The loan amount, in this case, has a ceiling limit and is subjected to the applicability of reasonable interest rates fixed by the lender.


Now that you know how to get an urgent cash loan without documents, always maintain a decent credit score, as this plays a crucial role in the sanction process.

Though it is feasible to obtain a loan with minimum/ no documentation, it might happen that a reputed lender may still request documents such as your salary slips/ income statement before sanctioning the loan. To avoid last-minute chaos, it is recommended to keep them handy. Opting for a pre-approved loan would be the best option in case you are eligible for one to avoid any delay in the sanction process.