₹1 Lakh Personal Loan

Rs. 1 Lakh Personal Loan EMI for up to 2 Years Tenure

When a borrower takes out a loan, they are required to cover the cost of borrowing, commonly referred to as Equated Monthly Installments (EMIs). These monthly payments are significantly impacted by factors such as the loan amount, repayment period, and interest rate.

The flexibility of repayment tenure allows you to choose a loan duration that suits your financial circumstances. 

Documents Required for One Lakh Instant Loan

• 1

  Identity Proof:

  Identity proof is used to confirm the identity of an individual. It usually includes documents with a photograph, name, and other personal details. It is required to check whether the person is really who he/she claims to be. Common forms of identity proof include:

  • Passport: An official government-issued document that serves as both identity and nationality proof.
  • Driver's License: A government-issued license permitting an individual to operate a motor vehicle.
  • Aadhar Card:: In India, it's a biometric-based identity card.
• 2

  Address proof:

  Address proof is used to verify an individual's current residential address. Common address proof documents include:

  • Utility Bills: Such as electricity, water, or gas bills in the individual's name.
  • Rental/Lease Agreement: A legal agreement between a tenant and landlord specifying the address.
• 3

  Proof of employment:

  Proof of employment is typically required in situations where the individual's employment status is relevant. This could include:

  • Employment Letter: A formal letter from the employer confirming the individual's job, salary, and tenure.
  • Contract of Employment: A legal contract outlining the terms and conditions of employment.
  • Offer Letter: The letter from the employer offering the job with the individual's name in it.
• 4

  Financial Statement:

  A financial statement provides an overview of an individual's financial health and is often required for financial transactions or when applying for credit or loans. These may include:

  • Bank Statements: These show the individual's account balances, transactions, and financial history.
  • Income Tax Returns: Filed annually and detail an individual's income, deductions, and tax paid.

How to Apply Online for ₹1 Lakh Personal Loan

Applying for a ₹1 Lakh personal loan is a simple and convenient process, with us, you can apply for a personal loan in a hassle-free way and with minimum paperwork:

• 1Visit www.paymeindia.in and navigate to the "Personal Loan"" section.
• 2Click on 'Apply Now' and fill out the online application form with your personal and financial details.
• 3Upload the required documents for proper verification of your identity.
• 4Submit the application.
• 5Wait for approval of your application and then disbursement of your loan amount.

How to get a loan of ₹1 lakh without income proof and documents

Getting a personal loan without traditional income proof and extensive documentation might sound daunting, but it is not impossible. There are certain cases in which one can get a personal loan without having an income proof, like having one of the following:

• Collateral: Offering a valuable asset as collateral can increase your chances of approval.
• Co-applicant: Having a creditworthy co-applicant can enhance your eligibility.
• Alternative Income Proof: If you have a non-traditional income source, such as freelancing, provide relevant documentation.