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Instant loan in panambur

Panambur is a major industrial area as well as a famous tourist spot in the city of Mangalore in Dakshina Kannada district of Karnataka. Panambur is also home to the New Mangalore Port, the only major port in the state. Major industries, such as KIOCL and Mangalore Chemicals & Fertilizers are located in this area. Panambur beach, located near Panambur’s harbour, is a picturesque beach that serves as a huge tourist attraction. This well-connected is dotted with many eateries, restaurants, boat ride facilities, and resorts. The easy availability of instant loan in Panambur helps local residents to set up business in this tourist spot. Beach festivals organised occasionally are also a big attraction of this beach.

Eligibility to apply for an instant loan and documents required

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.

Features of an instant loan

Instant loans are one of the most popular forms of credit in India. Instant cash loans come equipped with several perks and features that make it the most preferred form of credit or most borrowers. There are several reasons why Instant loans have been a roaring hit. The first and foremost reason would have to be its flexibility. It can be availed within a matter of hours, with or without collateral, with or without a healthy credit score, and can be spent as per the discretion of the borrower. Secondly, the speed at which these loans are approved. It is usually only a matter of an hour before these loans are approved. The third reason would have to be the loan application process which can be done both online as well as offline and is an extremely hassle-free process. Last but not the least, the reason instant loans are most borrowers' go-to choice of credit is because of the minimal documentation that is required. Depending on the type of instant loan the borrower is looking to avail, the documents required will vary but are minimal nevertheless.

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Frequently asked questions

Which is the best loan to take for a marriage ceremony?

Marriage is undoubtedly one of the most auspicious occasions of any person’s life. When your dreams and plans are that grand, money is also likely to come in the way. An easy way to tackle this problem seamlessly is by opting for an instant cash loan. Many online platforms offer an instant cash loan online. Like it is obvious in the name, an instant cash loan is the answer for quick funds. With instant cash loans online, you do not have to sacrifice your dreams for a secure future. Instant cash loans can be easily availed against the submission of a few required documents as proof of your identity, address and your income. You can also get collateral-based instant loans against the pledging of collateral.

Is it safe to take an instant loan online?

Any official lender/financial institution in India comes under the jurisdiction of the RBI. The RBI exercises adequate caution when it comes to certifying and governing these lenders as per Section 45 IA of the Reserve Bank of India Act, 1934. Availing instant loans online has been made thoroughly safe and secure by this act. If you wish to verify this by yourself, make sure to check the lender's Certificate of Registration and it's validity before submitting your documents and details online. As far as the privacy of your personal and bank details are concerned, several seasoned lenders use 256-bit encryption and threat mitigation technologies that uphold international standards. For example, the SSL technology is used to ensure complete end-end privacy of client data. Since right from loan application all the way to loan repayment all occur online, lenders have ensured that these processes remind encrypted end-end making it your easiest, safest bet when it comes to credit!

Can I take an instant loan for travel?

It is said that traveling is the best reality check you can ever give yourself. If you are an avid traveler whose travel plans keep getting foiled by budget constraints, worry not! Instant cash loans are the best way to ensure you don't skimp on your hotel stay or your buffet spread. You can avail fast loans online at favorable interest rates just with your credit score. A lot of factors such as your scope for negotiation, flexible repayment options are all determined by your credit score. A credit score of 650 or above is the standard credit score in order to avail the best personal rates. You will have to submit about 6-7 documents including your Aadhar card, PAN card, Bank Account Statements, etc.

What are the reasons for an instant loan to get rejected?

Only in few rare and extreme cases does an instant loan get rejected. This happens when the lender has to adhere to the standards and the norms set by the industry for their safety. Since the credit score and the salary slip of the borrower are the two main important factors that determine their eligibility for an instant loan, any mismatch in these cases can lead to failure of the loan approval. If the borrower has poor credit scores - such as below 650, the loan will not get sanctioned. It is generally preferred to have credit scores above 700. If the borrower also doesn’t have a steady source of income or constantly jumps from one job to another, he is also not likely to get the loan amount. Having a stable source of income and a good credit score is advisable when taking an instant loan. If that is not an option available to you, you can consider an instant cash loan against collateral.

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