How to Apply For Same Day Loans in India ?
The thoughts of same day loans generally scared people because they were targeted to the much needy and unplanned professionals. Trapping them in debt and milking interest after giving instant online is a thing of the past. Now planned, financially literate and helping fintech and legally approved start-ups collaborate to help solve emergency needs.
Why are instant, same day loans needed in the first place?
Money, with time, is being required more often for the events we did anticipate. Who thought COVID-19 would start off with a 2-week lockdown and take 2 years of your life? Who thought of the sudden need for smartphones for every member at home & a laptop for everyone at work so that they can do WFH? From the war to the price rise of essential commodities, uncertainty is the only certainty now.
Loans have always been the source of money that exceeds our savings. But loans from institutions rather than family or friends have always been associated with the complex documentation process, time delay, tedious process & uncertainty (here too!) of success. When the money world has come to smartphones for everything — payment transfer, account opening, KYC, etc.- why not getting an instant personal loan be on your fingertips too?
Here in walks, PHOCKET — your instant access to cash. It is now possible to get short term, best personal loans online with us. Let’s read about the way to get it:
What do you need to get an instant personal loan online?
Apply for a personal loan online by checking your eligibility criteria. Do not worry; they are the bare minimum hygiene factors! They are:
Age — Older than 21 and younger than 55 years
Income — For non-metro cities, a minimum of INR 15,000 per month & for metro cities, a minimum of INR 18,000 per month
Residence — Resident of India
If you met all the above three requirements, you are all set to apply for the best personal loan online.
What are the documents needed?
Since you are clear of the above eligibility check, you will need to upload the following documents online
Identity proof — Proof of Identification like Aadhar Card, PAN Card, Passport or even Voter ID
Residence Proof — To prove yourself a Resident of India, documents like Aadhar Card, PAN Card, Passport, Voter ID, Ration Card (as you can notice, most of these documents can be used for both purposes!)
Income Proof — Salary slip received from the employer for the last 3 months (it is not a mandatory requirement for some customers like those who are self-employed or in an unorganized sector where salary slips are not issued — we hear you :)
So now you know them all. Just scan & save the documents in PDF. Upload them in the necessary fields as you browse the online loan application page on our website or mobile application.
How To Apply Best Deal Personal Loans with PHOCKET?
As you have come till here, only your fingers & the internet connection are standing between you & your loan. You are both eligible & documents equipped. Here’s what you need to do now:
Register: Download the PHOCKET app or register on our website
Fill in the basic details (starters to begin with!)
Get instant approval — Even before you think, you will receive approval for the loan in seconds. Please proceed with uploading the KYC (Know-Your-Customer) documents on the app or the website
Choose the Amount — As the need may be, use the dynamic calculator given there to see the EMI cost by playing with the amount & tenure of the loan. Be the best judge!
EMI Calculation of the loan — EMI surpasses in terms of importance more than the loan amount does. And why not. Thus, to help you plan the repayment in advance, we have given the EMI calculator on the screen by doing the following:
Open the EMI Calculator given on screen
Enter the loan amount you wish to take
Choose the tenure for loan repayment as maybe best possible given your earnings and financial situation
Enter the interest rate, and you will see the EMI!
Play with any of the inputs to modify
Important things to keep in mind while deciding to go ahead with personal loans?
There are a lot of benefits with PHOCKET’s instant cash loan like:
Attractive interest rates
Flexible Repayment Tenure
No to minimum pre-closure charges
But we want people to be financially literate and make planned choices. Please consider the following pointe before proceeding:
Is the monetary need immediate or can it be delayed?
Are there other mediums of money like salary advance where no interest is needed generally?
Will I be able to pay off the additional interest burden?
Do I have a stable and good income stream?
How will it affect my CIBIL score loan?
Any other advice that your financial advisor may give?
Thus, after knowing all aspects and deciding wisely, we trust you will make the right choice! For everything else, Download PHOCKET — Instant Personal Loan App.