An instant loan refers to a type of loan that can be approved and disbursed quickly, often within a matter of minutes or hours. These types of loans are typically offered by online lenders or fintech companies and can be used for a variety of purposes, such as covering unexpected expenses or consolidating debt. Instant loans may have higher interest rates and fees compared to traditional loans from banks or credit unions, and they may also have more stringent eligibility requirements.
The documents required for an instant loan will vary depending on the lender and the type of loan. Generally, the following documents are commonly required:
Proof of income: This can include pay stubs, tax returns, or bank statements showing your income.
Identification: You will need to provide a government-issued ID such as a driver's license or passport.
Proof of residence: This can include a utility bill or lease agreement that shows your current address.
Bank account information: You will need to provide the lender with your bank account information, such as your account number and routing number, in order for them to deposit the loan funds.
Collateral (if required): Some loans may require collateral, such as a car or house, in order to secure the loan.
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Rate of Interest 5% Tenure  1 to 20 years.