Fraser Town is a prominent locality in northwest Bangalore. At present, it is known as Pulikeshi Nagar. It is close to Bangalore East and Bangalore Cantonment railway stations. The town was founded in 1906 and named after Stuart Mitford Fraser. Initially, Fraser Town was created to expand the Bangalore Cantonment. The historical Coles Park is situated in this locality. Of late, the area has emerged as a thriving residential and commercial town. Several high-value real estate projects, like Amigo Casa Feliz, Redifice Ashton, and Embassy Oasis can be found here. The locality also has some of the most prominent schools in Bangalore, like Clarence High School, St. Francis Xavier Girls High School, St Rock’s Girls High School, and Annaswamy Mudaliar’s High School. People generally rely on instant loan in Fraser Town to fulfil their dreams.
Thanks to the flexibility and the simplicity associated with an instant loan, it is the most popular and demanded source of funds in India. An instant loan offers many exclusive features that makes it a favorite among the borrowers in Bangalore. Listed below are some of the most attractive features of an instant loan:
Flexibility - The funds that are obtained through an instant loan can be put to any use, as long as it is not for speculative or illegal purposes.
Loan approval - Usually within an hour from the loan application, the loan amount will get disbursed into your account, just as the name suggests.
Loan application - An instant loan can be placed online as well as offline. The borrower can use the app, the website, or can also call the customer service desk to make a request for the loan. The procedure, from the loan application to the transfer of the amount remains smooth, transparent, and quick.
Minimal paperwork - One of the reasons why instant loans are so popular is that they hardly require any paperwork at all. Not more than five documents are to be uploaded under any circumstance.
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Instant loans are typically of two types- Unsecured loans that don't require collateral security and secured loans that require the borrower to pledge collateral security against the loan. Borrowers that get a instant loan get access to various benefits as compared to those that borrow unsecured loans. For instance, borrowers that avail secured loans get to borrow a higher loan amount. Since borrowers are required to pledge an asset whose market value needs to be about 30% more than the loan amount, the eligibility criteria are also relaxed. To avail a secured loan, you'll only need basic documents such as PAN Card and Aadhaar Card. However, this isn't the case with unsecured loans. When you apply for an unsecured loan, your loan approval depends on several factors such as your debt-income ratio, existing credit profile, and income status. Additionally, to be eligible for an unsecured loan, as a borrower, you will need to have a minimum income of INR 21,000 per month. Along with this proof of income, you will also have to submit other documents such as PAN Card, Aadhaar Card, Age proof, Income tax file, Account transaction statement, and sometimes even a guarantor. If you are looking to avail a quick, hassle-free loan, secured loans are the way to go.
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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.
Applying for a Quick loan in India involves submitting a bunch of KYC documents. It is also possible to apply for an instant loan with the king of all documents in India- The Aadhaar Card. The Aadhaar functions as both an identity and address proof of the borrower's nationality. However, only Secured Loans, like Gold loans are approved with just a single document, as collateral is pledged in exchange for the loan. The security of this collateral suffices the lenders' requirements as the loan amount availed will anyway either be 75% of the value of the collateral or lesser. Secured loans are also a go-to choice when the borrower has a low credit score and no salary slips. In summary, yes it is possible to apply for an instant cash loan online using just your Aadhaar card.
There are some significant differences between an instant cash loan and an overdraft. An overdraft is a more flexible option when compared to an instant cash loan. It is possible to change the borrowed amount later on and the interest need only be paid on the borrowed amount. Another major benefit of a bank overdraft is that there is no extra charge that will befall the borrower when they make the repayment prematurely. In the case of an instant loan, it is possible to avail of much larger loan amounts than an overdraft. It is your financial health such as your credit score and your income that determines the loan amount that you can obtain. In the case of a collateral-based loan, you can get up to 75% of the market value of the pledged gold. But, there is a limit in the amount when it comes to an overdraft. The interest rates on an overdraft also happens to be higher than the interest charged on instant cash loan. Both the sources of the funds come with their own share of merits and demerits. It is advised that you pick the best option depending on your need and your financial state.
An instant loan is one of the best options to obtain immediate cash or urgent loan from. The loan amount can be procured by submitting a few necessary documents, that can be used as your identity proof, your address proof and your income proof. These documents include your PAN Card, Aadhar Card, credit score, income statement, etc. If you do not have a steady source of income and is unable to meet the requirement of your income statement or your credit score, you can always procure the desired funds using a gold loan. A gold loan is one of the easiest and most efficent ways to obtain funds at a quick notice. Apart from being one of the low interest rate loans in the market, a gold loan also makes it possible for you to avail of the maximum funds by pledging your gold. Further, you are also not required to present your salary slip or your credit score. Most lenders also provide a flexible loan repayment option with the provision of various schemes.
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