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Here are the varied kinds of people who may apply for a Short-Term Loan.
Individuals who require instant cash and cannot wait till the time that their salary is processed.
Somebody that requires money fast to satisfy unexpected financial obligations with ease.
A short-term loan could act as a credit builder for applicants with a low credit score.
Even a first-time applicant can get a short-term loan swiftly approved.
Apply NowTake care of instant financial obligations with a short-term loan starting from Rs. 5,000.
Never taken a loan previously? No worries! Users who are new to credit can also apply.
Get quick loan approval. The loan amount gets disbursed in just a few hours.
Follow a seamless process and upload relevant documents on the app to save time and energy.
It takes 3 simple steps to apply for a loan. Digital and paperless process give you the much-needed edge!
Check your eligibility instantly by entering personal details.
Select the best-suited offer from multiple short-term loan options that’re available.
To apply, upload recent salary slips, bank statements, and other documents.
Any salaried individual with a monthly income that’s more than Rs. 15,000 can apply for a short-term loan online. Just provide the basic details required to check eligibility instantly.
The final loan amount to be sanctioned is decided on the basis of social score, alternate data and factors.
These are the documents that’re needed:
Please note that additional documents might be requested if necessary during credit checks.
Yes, because a short-term loan can be used to improve a borrower’s credit score. Social score, alternate factors along with credit score are considered for a short-term loan. These include habits that determine a borrower’s credibility across social platforms like LinkedIn, Facebook, customer’s spending patterns, financial behavior, address, demographics etc.
The minimum salary is approximately Rs. 15,000. In certain cases, it could increase to about Rs. 18,000.
Yes. A Credit Score is one of the factors that is used to determine your eligibility. A less-than-perfect credit score could work for a borrower as there are other factors that’re considered. These comprise the customer’s social score and alternate data. Weightage given to these in considering short-term loan eligibility is much higher.
Ideally, repayment towards a short-term loan can be done within 1 to 6 months’ time depending on the provider.
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Innovage is not responsible for the accuracy or reliability of any information displayed about the loan products as the same is received from the respective loan providers.
Further Innovage accepts no liability whatsoever for any loss or damages of any kind including but not limited to, direct, indirect, incidental, equitable and/or consequential damages suffered by the user arising from availing the loan product.