Dakpathar is a small hilll town in the Dehradun district of the Indian state of Uttarakhand. It is located towards the north-west of Dehradun, right on the left bank of the river Yamuna. It is situated at the foothills of the Shivalik range which renders a beautiful view of the surrounding flora and fauna. Dakpathar lies about 790m above the sea level, which makes it an ideal choice for a reservoir along the town. Since years, this reservoir is being used for recreational purposes. Due to the lack of any considerable occupational facilties, instant loan in Dakpathar is quite a necessity for the locals here.
An instant loan can be of two types -
Secured instant loans- If you apply for a secured loan, i.e. an instant loan against collateral, you can get a higher loan amount. The eligibility criteria are also relaxed. Usually, it does not matter whether you can show income proof or not. You may also apply for a loan with only two documents - PAN Card and Aadhaar Card.
Unsecured instant loans- If you apply for an unsecured instant loan, the lender would approve the loan based on your income and expenditure ratio, credit score, and the stability of income. To avail an unsecured loan, you have to satisfy the minimum monthly income criteria set by the lender and is usually above INR 21,000 per month. Moreover, you have to submit documents like PAN Card, Aadhaar Card, income proof, age proof, income tax file, bank account statement, and quite often, a guarantor.
Hence, if you want a no-frills loan, it is prudent to apply for a secured instant cash loan online.
Instant loans are one of the simplest and most popular loans in India. Out of all loans offered by Indian lenders, instant loans are the most feature-rich and easy loan you can avail. Some of the prominent features of an instant loan are:
Flexibility- The first feature that makes an instant loan unique is its flexibility. You may use the loan amount for any purpose you want to.
Loan approval- The second feature is the speed at which instant loan approvals occur. Usually, an instant loan gets approved within an hour of the loan application.
Ease of loan application- The third feature is that you can apply for an instant loan online or offline. The entire process, from application to approval, is transparent, quick, and painless and is hassle-free when it comes to gold repayment.
Minimal documentation-Last but not the least, instant loans are so popular due to the minimum documentation required to apply for an instant loan. You need to upload no more than five to six documents to submit your loan application.
It is one hundred percent safe to take an instant loan online. The Reserve Bank of India authorises almost all lenders offering lending services in India under Section 45 IA of the Reserve Bank of India Act, 1934. You should always check the lender's Certificate of Registration and its validity before keying in your details online. Regarding the security of your personal and bank details, many reputed online lenders use 256-bit encryption and international-standard threat mitigation technologies, like the SSL technology, to make your data completely safe and secure. Hence, you can stay fully assured about the safety of your financial data. An instant cash loan online is one of the best ways to fulfil your aspirations without bearing the additional pain of making the rounds of the lender. Starting from application to EMI payments, every process is online. Additionally, online lenders offer much lower interest rates than many brick and mortar lenders.
In India, an instant cash loan is one of the easiest and the most efficient sources of funds. An instant cash loan is of two types - a collateral-based loan and a collateral-free loan. Both these types of instant cash loans require the loan interest to be paid. The loan interest rate on a collateral-based loan is less than the loan interest rate on an unsecured loan. The loan interest rate depends on a few factors such as your credit score as well as your loan amount. In case of an unsecured loan, where your credit score is mandatory, the interest rate can be low if you have a high credit score. A high credit score is a mark of your financial health. When it comes to the case of the loan amount, yes, a low loan amount is likely to be charged a higher interest rate than a high-value loan. This happens because the processing charges have to be covered. But it is still advisable to get an instant cash loan since the disbursement of the funds is pretty quick. You can also avail of a lower interest rate, even on small loans by opting for a secured loan, such as a gold loan.
An instant cash loan gets its popularity as it is one of the easiest as well as one of the cheapest loans that are available. You can save up to INR 12,000 on interest expenses by using an instant loan. It is also the easiest loans available as all you need to obtain an instant cash loan is your identity proof, your address proof, and your income statement. You also need to have a good credit score. If it is a secured instant loan that you are procuring, there is no need for an income statement or of your credit score. A secured gold loan also has one of the lowest loan interest rates in the market. As long as you have your documents ready, the loan amount can get transferred into your account within one hour from the loan application.
To make their approved instant loans safer and less prone to being written off, lenders generally evaluate the income to debt ratio of a borrower before approving the loan. Hence, they require the borrower to earn enough so that they can repay the loan EMIs without burdening their wallet. Usually, you need to earn a minimum of INR 18000 to 21000 every month to be eligible to apply for a collateral-free loan. However, the minimum income criteria can be relaxed if you pledge collateral security while availing the loan. To prove the stability of your income, the lender would ask you to submit salary slips and appointment letter with the loan application. If, however, you are self-employed, then you have to prepare a Chartered Accountant approved Income Statement, which will show your monthly income level.
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