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5 Easy Tips To Get An Instant Personal Loan Online During Lockdown

Personal loans have always been a prominent choice for any unplanned or planned financial need. From addressing a medical emergency to clearing a piling debt, personal loans offer the desired flexibility. As an unsecured loan, this loan doesn’t require any collateral to be submitted for approval.

Despite the growing prominence of the loan, the coronavirus pandemic has restrained us from stepping out. Recognising the rising concern, several lenders have introduced faster disbursal through contactless options. But now the technology changes and there are many other modes & options available for applying for a loan online.

Let’s look at how technology changes and  personal loans in India have transformed in the form of online loans through the internet. There are some easy tips to avail the loan during the lockdown.

Personal Loans In Current Day Scenario

As we know that due to the covid blast the government stated the importance of social distancing to curb the pandemic. At this crucial time if someone needs urgent finance then one can apply for the loan by making a physical presence at your lender’s office might seem difficult.

To reduce the risk while not compromising on a customer’s needs, several lenders have introduced hassle-free loan application measures. They are:

  • Online loan applications
  • Implementing digital KYC verification for loan approval
  • Bespoke loan apps

While these have been the general trends there are various lenders which have taken customer services a notch higher. There are various apps present in the google play store for the users who want to take loan. These online apps allow customers to carry out tasks from making online payments to staying updated about the new offers from the lender. If the applicant is new to the loan app and would like to avail personal loans, the lender has made it easy through Instaloan app for instant loan approvals.

How To Avail A Personal Loan In India During A Lockdown?

  1. Look for pre-approved offers.

One of the easiest ways is to leverage existing customer relationships with the lender. Through pre-approved offers, loans are approved faster.

If you are a new customer, it is highly advised to seek a helping hand from your friends or family. Pre-approved offers smoothen the loan application processes and address your financial needs in a jiffy.

  1. Look for lenders that offer contactless options.

During this pandemic, your needs must be addressed without compromising your safety. Collaborate with lenders who possess bespoke loan apps for submitting and sanctioning loan applications. With the online loan apps one can review the new offers put up by the lender. The InstaLoan App smoothens the loan application process through digital KYC procedures and quicker disbursals; thus making life easy.

  1. Faster disbursal process

The last thing you need during this lockdown is an extended waiting period for loan sanction. Choose lenders that offer smooth, customer-friendly bespoke apps with sleek application procedures and faster disbursal process.

  1. Higher customer satisfaction

With every sector turning online, discrepancies and scams are inevitable. Before availing or collaborating with a lender, look into the customer satisfaction records on the lender’s processes.

Choose lenders that provide easy to use bespoke apps accompanied by online eligibility and EMI calculators.

Using eligibility and EMI calculators can help a prospective applicant to choose a plan that best synchronises with their repayment capability and financial capacity.

  1. Attractive interest rates with flexible repayment schemes

As several lenders are offering personal loans, narrowing it down to a single lender can be quite tedious. The unsecured personal loans in India are the most feasible and viable credit tool for financial crunches. There are several tax benefits on personal loans that one can avail.

The lenders provide personal loans at interest rates of 12.99% to 36% coupled with flexible repayment schemes. These interest rates differ from financial institutions.


The Coronavirus pandemic has drastically changed our outlook of even the simplest of tasks. With draconian measures being adopted to curb the spread, it becomes crucial that one addresses their needs without compromising on their safety. Lenders now offer personal loans through hassle-free digitised procedures. One can easily avail the loan and get instant approval on the loan if and only if the users fills the proper information and submit all the necessary documents.

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