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A study on Instant personal loan. Flickr

By Shubhi Gupta

All of us go through a bad phase in life when we are in need of instant money but are short of options. In such difficult times, we often borrow from friends/relatives or exhaust our savings to tide over the crisis. In such a scenario, an individual can avail of instant personal loans in India. These loans are unsecured in nature and are without any collateral deposit. Both the salaried individuals and self-employed personal are eligible to apply from personal loan apps. A personal loan can be taken for a variety of purposes, including:


  • Wedding
  • House renovation
  • Medical emergency
  • Travel expenses
  • Buying a gadget

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What are instant loan apps?

Instant personal loan apps are online digital financial platforms that provide immediate loans to the applicant for a variety of purposes. Digital apps are becoming popular because of significant benefits to the borrower. The benefits include:

  • It cuts down the time required for loan approval.
  • Digital apps cut down paperwork significantly.
  • The loans are approved with minimal documentation.
  • No need to provide documents physically, they can be simply uploaded.
  • Easy user interface for the borrower.
  • Regular EMI reminders to avoid defaults.
  • Instant loan apps help in applying for loans and managing it using just a smartphone.

A personal loan can be taken for any reason. Flickr

Most financial institutions follow along with and cumbersome loan approval method that takes extra time for loan approval, this, however, is absent in instant loan apps. Some of the best instant loan apps in India are:

  • PaySense
  • Credy
  • Money Tap
  • LazyPay
  • CASHe

What are the benefits of instant personal loans?

Personal loans are a simple way to make you enjoy your life to the fullest. There are several benefits of personal loans, such as:

  • Collateral free loans

Personal loans are unsecured form of credit. It doesn’t require a borrower to pledge anything as security to the lender.

  • Minimum documentation

There are digital financial platforms that offer loans with minimal documentation to eligible individuals. Unlike banks or NBFCs, online financial platforms follow relaxed policies in offering loans.

  • Line of credit

The line of credit facility is also available with instant personal loans in India. It means a borrower will only have to pay interest on the money utilized and not the entire money sanctioned by the lender.

  • Quick disbursal

As the verification of the documents is done digitally, the time taken is less. Once the verification of the borrower’s documentation is complete, the loan is approved, and the funds are transferred to the account.


Taking a personal loan has several benefits and reasons. Flickr

  • Multipurpose in nature

A personal loan can be utilized for multiple purposes ranging from marriages to house renovation or buying new furniture for the house.

  • Affordable EMIs

A borrower can select affordable EMIs according to convenience. Other features like auto-debit and constant reminders help a borrower to not miss out on timely payments.

  • Easy collection of documents

The documents are collected online or through the doorstep collection method for the comfort of the borrowers.

  • Zero credit history

Individuals with no credit history can also avail of personal loans if they meet the lenders’ eligibility criteria.

Interest rates charged by Personal loan apps

Interest Rate1.4 to 2.3% per month
Processing FeesUp- to 2.5% of the entire Loan Amount
Late Payment ChargesRs 500 + GST
Pre Payment charges4% charge on the outstanding principal amount during the foreclosure

Eligibility for Personal loans

Personal loans are offered by financial institutions, including Banks(private/public), NBFCs, and online financial platforms. Although the eligibility criteria vary across different platforms, yet the minimum criteria followed for salaried/self-employed individuals include:

Age limitMinimum 21 years – Maximum 60 years
EmploymentBoth Salaried and self-employed (with regular income source)
Minimum incomeRs. 12000 (for salaried individuals) or Rs.15000 (for self-employed)
Loan amountFrom Rs. 5000 to Rs. 5 Lakhs (depends upon the necessity)

What are the documents required to avail of personal loans?


Taking a personal loan includes steps like filling the loan form, submitting the documents, etc. Flickr

The documents required to avail of personal loans in India are:

  • Photo identity and age proof
  • Residence proof – Aadhar card, Ration card, (Utility bills like water, electricity, telephone) passport, driving license
  • Bank statements for the last three months
  • Income tax returns for the last three months
  • Filled form with photos

ALSO READ: Future Pandemics To Emerge Often, Spread More Rapidly: Experts

How to apply for personal loans?

In three simple steps, an individual can apply for personal loans in India, these are:

  • Step 1 Filling the eligibility form
  • Step 2 – Select the loan amount and tenure and upload the documents.
  • Step 3 – Funds are released.

With instant personal loan apps, individuals can lead their life without worry. The convenient, paperless, quick disbursal, and affordable rates make it easy for a borrower to repay the loan amount without trouble.

(Disclaimer: The article is sponsored, and hence promotes some commercial links.)


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Photo by Wikimedia Commons.

Char Dham Yatra resumed on Friday with more than 16,000 devotees resuming the pilgrimage from the Rishikesh camp.

As weather cleared up in Uttarakhand, Char Dham Yatra restored on Friday with more than 16,000 devotees resuming the pilgrimage from the Rishikesh camp.

According to sources, road leading to Badrinath has been repaired and helicopter service has also resumed.

Meanwhile, Uttarakhand Chief Minister Pushkar Singh Dhami visited Dungi village and met families of people who were missing after the landslip incident, and consoled them.

Dhami assured them of all possible assistance. Two people from the village are still reported to be missing.

Pilgrims were seen leaving from Rishikesh Char Dham Bus terminal and Haridwar bus station for the pilgrimage since morning.

As per the state government, various departments -- Devasthanam Board, police are assisting the pilgrims.

Police Chowki Yatra Bus Terminal, Rishikesh, was announcing passenger-information via loudspeaker.

Free RT-PCR tests of pilgrims were being conducted at Rishikesh bus terminal.

Uttarakhand Char Dham Devasthanam Management Board's media in-charge Dr Harish Gaur said pilgrimage was on in Kedarnath, Gangotri and Yamunotri, while for Kedarnath, helicopter service was also available.

Though the weather was cold in all dhams, thankfully there was no rain, he added.

Portals of the temple in Badrinath will close on November 20, Gangotri on November 5, while that of Kedarnath and Yamunotri on November 6.

Uttarakhand floods, triggered by a major downpour from October 17 to 19, have claimed 65 lives so far, 3,500 people have been rescued while 16,000 evacuated to safety.

Seventeen teams of National Disaster Response Force (NDRF), seven teams of State Disaster Response Force (SDRF), 15 companies of Provincial Armed Constabulary (PAC) and 5,000 police personnel have been engaged in rescue and relief operations.

The state has already been provided with Rs 250 crore Disaster Fund which is being used for relief works.

To prevent spread of the diseases, the Central and state governments have decided to send medical teams to the affected areas.

Snapped power lines will be restored at the earliest, the government assured.

The state government said that as soon as alert for heavy rainfall was issued, the Incident Response System was activated at state and district levels, and pilgrims were halted at safer places. (IANS/JB)

Keywords: Uttarakhand, India, Char Dham Yatra, PushkarDhami, Rishikesh.


Photo by Wikimedia Commons.

Naga leaders are adamant in their main demands for a separate Constitution and flag.

The Centre has continued the Naga peace talks with the Isak-Muivah faction of National Socialist Council of Nagalim (NSCN-IM) leaders, but negotiations face roadblocks as the Naga leaders are adamant in their main demands for a separate Constitution and flag.

The sources aware of these developments said that the Centre was hopeful that a successful solution of the six decades-long peace talks would arrive at a logical conclusion, but in the recent statements, Naga leaders have accused the Centre of offering post-solution options.

Sources quoting the stand of Naga leaders said that NSCN's stand was loud and clear that it would not follow the forbidden route to the Naga solution that was linked to foregoing the Naga national flag and Constitution, which is the face of the Naga political struggle and identity.

The Naga leaders have also said that the Centre has been using divisive policy and flattery in the name of finding the Naga political solution when the matters heated up.

When the Centre resumed the peace process in September this year and sent the former special director of the Intelligence Bureau (IB) A.K. Mishra as the Ministry of Home Affairs' emissary to the rebel outfit's chief negotiator and general secretary T. Muivah, he assured him (Muivah) that the peace talks would be initiated under the original framework signed in 2015, a source in the Naga rebel group said.

"Here we are talking about the Naga national flag and Yehzabo (Constitution), the two issues that are holding up the Naga solution under the ongoing Indo-Naga political talks in Delhi.

"The chequered history of the Indo-Naga political issue is clear enough before us, with accords and agreements that were never meant to be implemented in letter and spirit", an important office-bearer of the rebel outfit said while criticizing the governments' stand.

Accusing the Centre, he further accused the Centre of persuading the Naga people again to accept whatever is being offered to hurry up the Naga talks.

On the invitation of the Centre, the senior leaders of the NSCN-IM including T. Muivah arrived in the national capital on October 6 this year to hold another round of talks with the Centre.

Both, the Centre and the Naga leaders had indicated their keenness on resolving this long pending issue by the end of this year in an amicable manner.

Assam Chief Minister Himanta Biswa Sharma, who is also chairman of North East Democratic Alliance (NEDA), and Nagaland Chief Minister Neiphiu Rio had been actively involved in the resumption of the peace talks and taking it forward to a logical conclusion.

Soon after the transfer of Nagaland Governor R.N. Ravi, who was appointed as the Centre's interlocutor for the Naga peace talks on August 29, 2014, to Tamil Nadu, the peace talks resumed on September 20 in Kohima when the Centre representative met the Naga leaders and invited them to visit Delhi for further rounds of peace talks.

The NSCN-IM and the other outfits entered into a ceasefire agreement with the Government of India in 1997 and over 80 rounds of negotiations with the Centre have been held in the past in successive governments. (IANS/JB)

Keywords: Nagaland, India, Constitution, Politics, Flag.


Photo by Wikimedia Commons

India-England test series will now be played next year from July 1 at Edgbaston Stadium

The series decider for the Test series between England and India will now be played at Edgbaston from July 1 next year, said the England and Wales Cricket Board (ECB) on Friday. India is currently leading the series 2-1 before the fifth Test at Old Trafford was cancelled hours before the start due to concerns over COVID-19 outbreak in the tourists' camp.

"The fifth match of the LV= Insurance Test Series between England Men and India Men has been rescheduled and will now take place in July 2022. The match, which was due to take place last month at Emirates Old Trafford, was called off when India were unable to field a team due to fears of a further increase in the number of Covid-19 cases inside the camp," said an ECB statement.

"With India leading the series 2-1, the concluding fifth match will now take place from July 1, 2022, at Edgbaston, following an agreement between the England and Wales Cricket Board (ECB) and the Board of Control for Cricket in India (BCCI)," added the statement.

ECB also said that due to the rescheduled Test, the white-ball series between England and India will now start six days later than originally planned. The T20I series will begin on July 7 at Ageas Bowl with Edgbaston and Trent Bridge hosting the second and third matches respectively on July 9 and 10. It will be followed by the ODI series starting on July 12 at The Oval followed by Lord's and Old Trafford hosting the second and third ODI on July 14 and 17 respectively.

"Ticket holders do not have to take any action as all tickets will remain valid for the equivalent rearranged matchday at their host venue. Host venues will communicate the new fixture details to ticket purchasers and the options available to them, including the timeframe for requesting a refund if they are not able to attend the new match day," further said the statement.

"We are very pleased that we have reached an agreement with BCCI to creating a fitting end to what has been a brilliant series so far. I'm very grateful to all the venues involved for the cooperation they've shown in allowing us to reschedule this match. I'd also like to thank Cricket South Africa for their support and understanding to allow these changes to be possible," said Tom Harrison, the CEO of the ECB.

"We would like to apologise again to fans for the disruption and disappointment of September events. We know it was a day that so many had planned long in advance. We recognise that accommodating this extra match means a tighter schedule for the white ball series. We will continue to manage our players' welfare and workloads through next year while we also continue to seek the optimum schedule for fans, players and our partners across the game."

"I am delighted that the England-India Test series will now have its rightful conclusion. The four Test matches were riveting, and we needed a fitting finale. The BCCI recognizes and respects the traditional form of the game and is also mindful of its role and obligations towards fellow Board Members. In the last two months, both BCCI and the ECB have been engaged in discussions and our efforts were aimed at finding a suitable window. I thank the ECB for their understanding and patience in finding an amicable solution," said BCCI Secretary Jay Shah. (IANS/JB)

Keywords: India, Britain, BCCI, Test Match, Cricket.