instant loan: With the help of instant personal loans, borrowers can now easily get loans of 1 lakh taka or more. The paperless document verification system allows for quick approval of a loan of 1 lakh taka. With the advent of hassle-free online documentation, there is no need to go through the hassle of applying for a loan in person. The documents that are mandatory to submit to get an instant loan of up to 1 lakh taka are:
- To apply for a personal loan, you need Aadhaar and PAN card first
- If you do not have Aadhaar card, only a smartcard driving license can be used
- Other essential documents include your professional and financial details including bank statements
- You must have an account with one of the banks designated by the financial institution
Eligibility criteria for instant loan of 1 lakh taka
It is very important for prospective borrowers to adhere to the eligibility criteria, especially when the loan amount is more than 50,000 taka or 1 lakh taka. The reason why financial institutions have made it mandatory to maintain eligibility criteria even for small cash loans of 1 lakh taka is because they do not want to take any risk of any lapse in the repayment process in the future or any fraudulent intent.
If you need a loan of 1 lakh taka, you will need to meet the eligibility criteria.
- Age Eligibility
Applicant’s age ought to be between 21 and 58 years
- Minimum Monthly Salary for Salaried Employees
Applicant should earn at least Rs. 15,000 per month
- Minimum Monthly Income for Self-Employed
Must earn at least Rs. 15,000 per month and six months bank statement is mandatory
- Income Proof
Last six months bank statement of salary or personal account
Although a loan of 1 lakh taka is considered under small cash loan, if you need cash on an urgent basis, getting a loan of 1 lakh taka can provide great financial support. The repayment capacity is understood and verified before allocating the loan amount. So, be careful while applying for a loan, whether it is 50,000 taka or 1 lakh taka, it has to be repaid in the form of EMI within the specified period. If you have a good credit score, then you can get the benefit of low interest rates.
How to apply for a individual credit of Rs. 1,00,000?
A personal loan of Rs. 1 lakh is actually an unsecured loan and can be easily applied for through any instant loan app. A loan application of Rs. 1 lakh requires submitting minimum documents and no collateral is required. This saves a lot of time and gets approved within minutes.
- Follow the steps underneath to apply for a individual credit of Rs. 1,00,000
- Download the Herofincorp Instant Loan app from Google Play Store
- Register with your email ID/mobile number, verify using OTP
- Enter the required loan amount in the EMI calculator and the amount to be repaid or the tenure in months
- Get your KYC details and income proof verified
- The loan will be approved as soon as the KYC details are verified in real time and then sent to the borrower’s registered bank account
Although a personal loan of Rs. 1 lakh is considered a small cash loan, it is no less than meeting urgent financial needs. Before disbursing the loan, the repayment capacity is understood and verified. So, be careful while applying for a loan, whether the instant loan amount is 50,000 taka or 1 lakh taka, it has to be repaid in the form of EMI within a specified period. If you have a good credit score, then you can get the benefit of a lower interest rate.
Frequently Asked Questions
Q.1 Can I get a loan of 1 lakh taka?
A. Yes, you can get a loan of 1 lakh taka only if you meet the lender’s eligibility criteria for a personal loan. Prospective borrowers can check the eligibility criteria for a loan candidate for 1 lakh taka online using the eligibility calculator.
Q.2 What is the interest rate on a loan of 1 lakh taka?
A. The interest rate on a loan of 1 lakh taka may vary from lender to lender. Since personal loans fall under the category of unsecured loans, the interest rate may be comparatively higher due to the shorter repayment period.
Q.3 How can I get a loan of 1,00,000 taka?
A. You can get a loan of 1,00,000 taka quickly through an online instant loan app. Herofincorp is one such instant personal loan app through which loans ranging from Rs. 50,000 to Rs. 1,50,000 can be availed.
Q.4 How can I get a loan of Rs. 1 lakh quickly?
A. If you need a minimum of Rs. 1 lakh on an urgent basis, then you can download an instant loan app and follow the loan application process to get a loan of Rs. 1 lakh very quickly.
Q.5 How can I get a loan of Rs. 1 lakh from Herofincorp?
A. Herofincorp is an incredible instant loan app under Herofincorp. It can be downloaded securely from the Google Play Store platform. Borrowers can get a credit of up to Rs. 1.5 lakh by first registering themselves on the Herofincorp loan app and following the application process.
Q.6 How can I get a loan of Rs. 1 lakh quickly?
A. You can get a loan of up to 1 lakh taka on the same day by applying online through the Instant Personal Loan App. Keep your KYC documents handy and apply for a small cash loan of up to 1 lakh taka through the Digital Loan App.
Q.7 How do I get a loan of 1,00,000 taka?
A. You can get a loan of up to 1,00,000 taka within 24 hours through the Online Personal Loan App. Since no collateral is required for this loan by its nature, a loan of up to 1 lakh taka gets approved within minutes.