Other traditional loans such as Personal Loan and business loan etc take some time to process
Quick loans are unsecured and short-term loans provided in no time, specifically within few hours of application and approval of the loan. However, fast loans come to the rescue when you face cash crunch are in immediate need of urgent cash loan. Some of the quick loans are provided in a day or two’s time, while most of the time, it takes just 24 hours to disbursal. With small-cash loans, you do not have to borrow from friends and family anymore.
Types of Quick Loans in India
- Small Cash Loans in India: A payday loans is a short-term loan (unsecured in nature), and is disbursed within 2 to 4 hours of loan approval. You can apply for payday loans apply and get approval within minutes. The U.S.P of this loan is the hassle-free procedure. The financial institution or lender usually charges a higher rate of interest as the loan is advanced without demanding collateral. Such loan is mostly offered to salaried individuals only, wherein the EMI is to be paid on the pay-check date until repayment.
- Same Day Loans: These loans are granted the same day of loan application. This credit system is best to meet emergency cash needs and requires only minimal documentation with no credit check. People with poor credit history or a bad credit score could be eligible to get payday loan no bank account Hillsboro OH this type of loan in short time. However, the interest rates of same day loans are much higher than regular loans.
- Quick No Credit Check Loans: There are quick loans offered that require no credit check. These loans are mostly chosen by those with bad credit history. As soon as the documentation needed is verified, the money is disbursed to the borrower’s bank account. The interest rate charged however, is very high compared to other short tenure loans.
- Credit Card Loans: You can take quick loan on credit card.