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Instant Personal Loan in 10 Minutes

Getting an instant personal loan in 10 minutes is now easier than ever with the rise of fintech platforms and digital lending services. Whether you’re facing an emergency expense or require immediate funds for travel, shopping, or medical needs, these fast loans offer quick solutions without lengthy paperwork or waiting periods.

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What is an Instant Personal Loan in 10 Minutes?

An instant personal loan is an unsecured credit option designed for immediate financial needs. It requires minimal documentation and is disbursed within 10 minutes to a few hours after successful approval. These loans are ideal for situations where time is crucial, such as urgent medical expenses, home repairs, or last-minute travel bookings.

Benefits of Instant Personal Loans

  • Quick Approval: Many lenders offer fast approvals within 10 minutes.
  • Minimal Documentation: Basic KYC documents like PAN and Aadhaar are sufficient.
  • 100% Online Process: The entire process is digital, saving time and effort.
  • Flexible Loan Amount: Borrow as low as ₹5,000 or as high as ₹5 lakh.
  • No Collateral Required: These loans are unsecured, reducing the risk of asset loss.

Bank Interest rates for Personal Loans

Banks
InstitutionInterest ratesLoan amount
DBS bankFrom 10.99%Upto 15 Lakhs
HDFCFrom 10.5%Upto 40 Lakhs
Axis BankFrom 10.49%`Upto 40 Lakhs
ICICI bank10.75%-19%Upto 40 Lakhs
Bank of Baroda10.75% – 18.5%Upto 5 Lakhs
SBIFrom 11%Upto 30 Lakhs
IndusIndFrom 10.49%Upto 50 Lakhs
Yes BankFrom 10.99%Upto 40 Lakhs
Standard CharteredFrom 11.5%Upto 50 lakhs
IDFCFrom 10.49%Upto 50 Lakhs
Kotak MahindraFrom 10.99%Upto 40 Lakhs
PNBFrom 11.40%Upto 20 Lakhs
Bandhan bankFrom 11.55%Upto 25 Lakhs

Bank Interest rates for Personal Loans

NBFCs
InstitutionInterest ratesLoan amount
Piramal FinanceFrom 12.99%Upto 35 Lakhs
Shriram FinanceFrom 14%Upto 35 Lakhs
Tata CapitalFrom 10.99%Upto 35 Lakhs
InCredFrom 18%Upto 3 Lakhs
FinnableFrom 16%Upto 10 Lakhs
PaySenseFrom 16.8%Upto  5 Lakhs
PoonawallaFrom 9.99%Upto 30 Lakhs
FullertonFrom 11.99%Upto 25 Lakhs
LendingKartFrom 12%Upto 3 Lakhs
Axis FinanceFrom 13%Upto 25 Lakhs
L&T FinanceFrom 12%Upto 7 Lakhs
Mahindra FinanceFrom 10.99%Upto 10 Lakhs
Aditya BirlaFrom 11.99%Upto 50 Lakhs
Bajaj FinanceFrom 11%Upto 50 Lakhs

Top Lenders Offering Instant Personal Loans in 10 Minutes

Here are some trusted lenders in India that provide fast personal loans:

LenderLoan AmountInterest RateApproval Time
PaySense₹5,000 – ₹5 LakhStarting at 11.99% p.a.10 minutes
MoneyTap₹3,000 – ₹5 LakhStarting at 13% p.a.5-10 minutes
CASHe₹1,000 – ₹4 LakhStarting at 27% p.a.10 minutes
KreditBee₹1,000 – ₹3 LakhStarting at 15% p.a.10 minutes
EarlySalary (now Fibe)₹8,000 – ₹5 LakhStarting at 18% p.a.10 minutes

Eligibility Criteria for Instant Personal Loans

To qualify for a quick personal loan, you must meet the following criteria:

  • Age requirement: 21 to 60 years
  • Minimum monthly income: ₹15,000 (varies by lender)
  • Employment type: Salaried or self-employed
  • Credit score requirement: 650 or higher for better chances of approval
  • Residency: Indian resident with valid identity proof

Required Documents for Instant Loan Approval

Lenders typically require minimal documentation for quick disbursal. Common documents include:

  • PAN card for identity verification
  • Aadhaar card for eKYC
  • Bank statements (last 3 to 6 months)
  • Salary slips for salaried applicants
  • Selfie or photo ID verification via the app

Step-by-Step Guide to Apply for an Instant Personal Loan

  1. Choose a lender: Research and select a reliable platform offering instant loans.
  2. Download the app: Most fintech lenders have dedicated mobile apps for seamless processing.
  3. Register with your mobile number: Verify with OTP for secure access.
  4. Fill in the loan application: Provide your details, loan amount, and purpose.
  5. Upload necessary documents: Submit PAN, Aadhaar, and bank statements digitally.
  6. Submit your application: The lender’s automated system will review and approve eligible loans within minutes.
  7. Receive funds instantly: Upon approval, the loan amount is disbursed directly to your bank account.

Tips for Faster Loan Approval

  • Maintain an updated credit score of 700+ for better approval chances.
  • Ensure your KYC details are accurate and match your bank records.
  • Avoid errors in documentation to prevent delays.
  • Choose a lender that matches your income profile and requirements.

Common Reasons for Loan Rejection

  • Low credit score or inconsistent credit history
  • Insufficient monthly income or unstable employment
  • Errors in uploaded documents
  • Incomplete application form

Are Instant Personal Loans Safe?

Yes, instant loans from reputed lenders are safe if you follow these steps:

  • Choose RBI-registered NBFCs or fintech platforms.
  • Read the terms and conditions carefully before accepting the offer.
  • Avoid sharing personal details with unverified loan apps.

Instant Personal Loan FAQs

1. Can I get an instant loan without a credit score?
Yes, some lenders like KreditBee and CASHe offer loans to individuals with low or no credit history.

2. How much can I borrow with an instant personal loan?
The amount varies by lender but typically ranges from ₹1,000 to ₹5 lakh.

3. Are instant personal loans more expensive?
Interest rates may be higher for instant loans due to faster processing, but selecting trusted lenders can help secure better rates.

4. Can I repay an instant personal loan early?
Most lenders allow prepayment, but some may charge a small foreclosure fee.

Personal Loans by Bank