A Mini Loan also known as a microloan, is a small, short-term loan that can be used to meet personal emergencies or any lifestyle financial needs. Instant mini loans online in India provide a quick solution for urgent financial needs.
Mini personal loans are unsecured short-term personal loans that can help cover unexpected expenses such as groceries, utilities, or car repairs. They can be a good option in a tight spot when you need some extra money quickly. Loan amounts typically range from Rs. 500 to Rs. 3,00,000. They come with an easy application process and may offer fast approval.
You don't need to put up any assets to qualify for a mini loan.
You can avail of a mini loan online at a reasonable rate of interest. The availability of multiple loan providers helps negotiate better interest rates. Also, your credit score and DTI ratio can get you a good deal.
This loan can be obtained in a few hours only. This works best for urgent monetary requirements. Minimum application formalities help in getting credit fast.
Payday loans: Payday loans are small, short-term loans typically due on your next paycheck, usually within 30 days. They are designed for salaried professionals who need quick cash to cover unexpected expenses until their next payday.
Credit card loan: You can also borrow money on your credit card against its unused credit limit. It's also disbursed in a few hours, which you can use for emergency expenses.
Flexible Term Loan: A Flexible Term Loan is a revolving credit limit approved for your account. You can access the funds as needed, and interest is only charged on the amount you use. It also comes with instant approval and quick credit
The eligibility criteria and credit limit can vary with the loan provider. Based on your financial needs you can choose a loan provider and apply for a credit line through our mini loan app.
FlexSalary is an NBFC-backed credit provider that offers a credit line specifically designed for salaried professionals. With its quick access and easy repayments, it can be a suitable option for those seeking an online flexible term loan.
Different loan providers will have different eligibility criteria, you can check them before starting the application process. You just have to meet the basic requirements to apply for a loan. Following are a few mandatory eligibility checks that every loan provider check
Nationality | You should be of Indian Nationality |
Age | Your age must be atleast 21 years |
Income | You are a salaried individual with a minimum salary of INR 8,000. |
Different loan providers will have different qualifying conditions. You have to use the app or website to check the eligibility criteria. If your profile matches, you can start the application process for your quick loan.
Fill out the application process by entering the credentials required. Name, age, income, loan sum, term of the loan, etc. are mandatory fields to fill in. For small loans online, the application process is always simple and needs no professional help.
In this stage, you upload all the mandatory records. Identity proof, income proof, and address proof are the essential records the loan provider asks for. In this loan no paperwork is done hence digitally you submit the documents.
Now comes the stage where the loan provider observes the creditworthiness of all the records you provide. For an easy loan, it's completed online through e-KYC. No physical verification is done.
After the verification is successful, instant approval is granted on the loan. It follows the quick disbursal, and within a few hours, you can access to the credit.
Fast Approval and Disbursal: We offer fast approval and disbursal, allowing you to get the amount you need in as little as 1 hour.
No Collateral Required: We offer an unsecured loan, meaning you don't have to put up any collateral to qualify.
Multiple Loan Amounts Available: You can choose a loan amount ranging from INR 500 to INR 3,00,000, depending on your needs.
High Approval Rate: We have a high approval rate, so you can be confident that you will be approved for a mini loan with our revolving credit line.
Relaxed eligibility & easy Application: With a salary of Rs. 8,000 per month, you are eligible to apply for an instant credit line. It has a large credit limit of up to Rs.3,00,000 starting from Rs.500. For all your small and bigger emergency needs, it can help you instantly. It has an online application procedure where you can start the registration just by providing your name, contact, and PAN details.
Minimal documentation & digital verification: At this flexible term loan, you can complete the documentation by uploading all the records using its official website or the mobile app. Nothing more than your Aadhaar card, PAN card, salary slip, bank statement, and one photograph are demanded. After online KYC is completed through a video call for verification. There is no physical verification needed which is time-saving and easy.
Flexible tenure and repayment: We have a flexible tenure of 10 months to 36 months during which you can repay your dues at any time. No fixed EMIs are mandatory, and variable installments are accepted without any additional charges. Its flexible payback options help a salaried employee a lot. Having it you can easily manage every other expense in a fixed monthly salary along with being off the dues in chunks.
Reasonable interest rate and accrual: Our Flexible Term Loan has a reasonable rate of interest with no hidden charges. It is pocket friendly in the first place because it's a credit line where the interest is accrued only after spending the sum. It works, unlike a personal loan where the interest is calculated on the lump sum from day one. Also, based on your credit score, you can negotiate a better rate of interest.
A Flexible Term Loan is a better credit option than a personal loan because the interest is only applied as you use the money. With a quick personal loan, you pay interest on the entire amount approved, even if you don't use it all upfront. A Flexible Term Loan can also be a better option than a credit card in most of the cases, as it may have lower interest rates and no annual fees
A mini loan in India can be a fast solution for urgent financial needs. Using our flexible term loan for these needs can be a budget-friendly credit option. You can easily apply for a credit line based on your salary slips and bank statements. A soft credit pull may be done, but a hard credit check is not required for approval. Once you repay your debts, you can easily renew the credit limit and use it again and again. It acts as continuous credit support for all your variable financial needs.