What Are The Documents Required To Get An Instant Cash Loan?

An instant cash loan is a convenient way to get quick access to funds during an emergency or financial crunch. The process of getting an instant cash loan is usually fast. It is straightforward, with minimal documentation requirements. However, it's essential to understand the required documents before applying for a loan to avoid any hassles and delays. Let's discuss the documents required to get an instant cash loan in India.

Documents Required To Get An Instant Cash Loan In India

Identity Proof

The first document required to get an instant cash loan is identity proof. The ID proof verifies your identity and ensures that you are an Indian citizen or resident. This could be a valid government-issued ID card, such as a

• Passport,
• Aadhaar card,
• PAN card,
• Voter ID,
• Driver's licence,

Address Proof

The second essential document required is proof of address. The address proof confirms your residential address and establishes your permanent residence.

This could be a recent utility bill, such as

• Electricity, telephone or gas,
• Rental agreement,
• Aadhaar card,
• Passport,
• Driving licence

Income Proof

The next important document required is income proof. This could be your salary slips, bank statements, or income tax returns. The income proof is to assess your repayment capacity. It also determines the loan amount you are eligible for. You must have a steady source of income to get an instant cash loan.

Employment Proof

Another document that is required is employment proof.

The employment proof is used to verify your current job status and stability. This could be your

• Employment letter,
• Company ID card, or any other document that confirms your current employment status.

Bank Statements

Bank statements are essential documents. It shows your financial transactions and your account balance. Lenders need bank statements to assess your creditworthiness and determine your repayment capacity. You may be asked to provide bank statements for the last six months or more.

Photographs

You may need to submit recent passport-sized photographs along with your loan application. The photographs are used to verify your identity. It ensures that the documents submitted belong to you.

Guarantor Documents

If you do not meet the lender's eligibility criteria, you may be required to provide a guarantor for your loan. The guarantor handles repaying the loan if you default on your payments. In such cases, the guarantor will also have to provide an identity

proof, address proof, income proof, and bank statements.

Business Documents

If you are self-employed or own a business, you may have to provide additional documents. Documents such as your business registration certificate and your GST registration certificate. You may also be asked about the financial statements of your business. These documents are used to assess your business's financial health and repayment capacity.

The documents needed to get an instant cash loan in India vary depending on the lender's requirements. It also depends on the type of loan you are applying for.

One of the best ways to get an instant credit line in India is through FlexSalary. It is a digital lending platform that offers instant cash to salaried employees. The platform provides loans designed to meet the immediate financial needs of individuals. To apply for an instant cash loan on FlexSalary, you need to meet certain eligibility criteria. Here are the following documents:

• Identity Proof
• Address Proof
• Income Proof
• Employment Proof
• Bank Statements
• Photographs

Here's How You Can Apply For A Credit Line On FlexSalary:

Visit the FlexSalary website:

Visit the FlexSalary website and click on the "Apply Now" button on the homepage.

Fill out the following application form:

Complete the application form with your personal information. It includes the name and address. Contact information such as a phone number and email ID. Employment details, such as company name, job title, and salary details.

Provide the required documents:

Upload the required documents. ID proof and address proof. Income proof and employment proof. Bank statements and any other documents required by the lender.

Choose the credit line option:

Choose the credit line option on the application form and select the credit limit that you need.

Submit Application:

Fill out the application form and upload the required documents. Click on the "Submit" button to send the application to FlexSalary for review.

Verification and approval:

FlexSalary will review your application and verify the documents provided. Once your application is approved, you will receive credit line offers. You will receive it with the loan amount and repayment terms.

Accept Offer:

If you are happy with the credit line offer, accept it by clicking on the "Accept" button on the offer page.

Receive Funds:

Once you have accepted the credit line offer, the funds will be credited to your bank account. The process takes place within 24 hours.

The process to apply for a credit line on FlexSalary is simple and hassle-free. Follow the steps mentioned above and provide the required documents. By doing so, you can get quick access to funds. Enjoy the flexibility of using the credit line as per your requirements. Always read the terms and conditions carefully. Understand the repayment terms before signing on the dotted line.