Know How You Can Avail of Instant Personal Loan in Mumbai during this Pandemic Situation

The Novel Coronavirus (COVID-19) has impacted the world and India is no exception. There are already more than 57 lakh positive cases and 90K+ deaths and counting. Mumbai is one city that has been hit hard by this Pandemic. 

Owing to the phase-wise lockdown since March, the income of many people has reduced. Hence, during this Pandemic situation, many people are in dire need of money to cover their many needs. 

If you are also affected by COVID-19 and looking to meet your financial needs in Mumbai, then you can look up to the instant personal loan in Mumbai. 

Read on and know more!

1. Check if you have a pre-approved loan offer

The first step towards getting the instant personal loan in Mumbai is checking out if you have any pre-approved loan offer or not. Borrowers with an existing relationship with NBFCs are offered pre-approved offers from time to time. If you have an offer, then it means that your eligibility is already approved for the loan. There are also no documents to be submitted with no paperwork. All that you need to do is apply for it. Since you are already approved, you may also enjoy lower personal loan interest rates. 

2. Take a look at your details 

A borrower with a pre-approved offer for the instant personal loan in Mumbai doesn’t need to fill an application form. Your only task is to go through the pre-filled form with your details and the loan amount. Once done, you can then get the loan using the complete digital process and save your time and efforts.

3. Accept your lender’s terms and conditions and look for the disbursal 

If you are satisfied with the fine prints of the instant personal loan in Mumbai, then the only thing that’s needed is accepting the terms. You also need to authenticate the disbursal. Nowadays, the loan processing method is completely digital. And it means that you don’t have to visit the branch of your lender. The loan amount that you authorized now will be credited to your bank account within minutes. Hence, with only 2 clicks, you can stay at your home during this Pandemic and access money. This way, you can cover your multiple needs without restrictions. 

What conditions make you eligible for an instant personal loan in Mumbai? 

1. By having a robust credit score 

You should always pay your loan EMIs and credit card outstanding on time. It boosts your cibil score and makes you an ideal candidate to be awarded a pre-approved deal. A credit score of 750 or more is considered perfect. 

2. By maintaining a sound repayment history 

If you have been paying all your debts on time and without defaults, then you can expect to be given a pre-approved deal. Lenders know that you can repay the next loan on time and hence; they give you a pre-approved offer online. 

3. By being consistent in your job 

If you are employed with an MNC, public or a private limited company and have a stable employment history, then it can work wonders. Lenders will be assured that since you are stable in your job, you will pay the loan EMIs on time. Therefore, they have no issues in giving you their pre-approved offers. 

You are now aware of the steps that can help you get an instant personal loan in Mumbai during this pandemic. You can check out your pre-approved offer today on a lender’s website and get started.