Can You Get Instant loan without documents?


Yes, you can if you already have a running loan. Your existing lender can give you instant loan without documents. This scheme is kind of top-up loan where the existing borrowers can get funds on the basis of their previous payment record.

A personal loan can majorly be taken as it is the most easily available loan which is given on the basis of income. If you are an existing personal loan borrower and need some funds, you can apply at your present bank or NBFC for this service instead of applying for it somewhere else.

Since the lender has the record of your payment, it will be easier to give you loan. There are chances that you might not have to provide any documents even KYC because your existing lender has all the records.

What do you understand by loan without income proof?

Basically it means you can get loan without providing any salary slip or annual income proof. As mentioned above, this facility is exclusively for existing borrowers only. Since personal loans are given on the basis of income proof, you can apply for this facility without documents and it is possible. In general, there are certain documents you have to provide to your lender when you apply for a personal loan. You may read them below.

Documents required for personal loans

The general documentation for the salaried as well as the self-employed individual are as follows:

For Salaried Individuals

  • Loan Application Form
  • 2 Passport size photos
  • Salary Slips for last 3 months
  • Identity Proof-PAN Card or Driving License or Voter ID Card or Adhaar Card, etc.
  • Residence Proof- Driving License/Voter ID Card/Aadhaar card, etc.
  • Last 3 months Bank Statements
  • Employment Proof
  • Signature Proof

For Self-employed Individuals

  • Loan Application Form
  • 2 Passport size photos
  • Identity Proof-PAN Card or Driving License or Voter ID Card or Aadhaar Card, etc.
  • Office Residence Proof
  • Income Proof: Audited financials for the last 2 years
  • Last 6 months Bank Statements
  • Employment Proof
  • Signature Proof

However, when you are an existing borrower, you can get another loan or top-up loan without documents only. The other procedure of applying and rate approval depends on your CIBIL score and credit report. If you have never missed any EMI till date, you will get instant loan without documents. But, if you have bad credit history, you might not be able to enjoy the facility even if you have all the documents as per the requirement.

How can you apply for instant loan without documents?

You can either apply online via Netbanking or can visit nearest bank branch for the service. The interest rate you will get would depend on your terms with the bank. If you have maintained a good repayment history, you can get lowest possible rate.

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