What is a Small Cash Loans ?
We are often met with unexpected expenses or sudden financial crisis such as a medical emergency, purchase of important equipment, home repairs, a random travel trip etc. In such times when we are cash-strapped and need money instantly, it is difficult to find monetary support and approaching banks or NBFCs may not be wise, as probably the amount needed are mere few thousands of rupees. What do we do in such crisis? It is easy. Simply visit loanbaba.com and apply for small cash loan online.
Based on your monthly salary, you can borrow anywhere between Rs. 10,000 and Rs. 50,000 in less than 24 hours.
The funds are disbursed directly to your bank account. Fast money loan can be used for any purpose, and is unsecured loan: you do not have to submit any collateral.
You need to be a salaried individual residing in Mumbai, Navi Mumbai, or Thane. You can repay between 30 days and 90 days as per repayment schedule.
A small cash loan is also known as payday loan and is met with instant approval and disbursal the same day of loan application, sometimes, in as less as 2 hours. If you are in need of urgent cash loan then you can consider same day cash loans product of loanbaba.com. As loanbaba is a direct lender of instant loan, you do not have to wait endlessly for approval of funds. It takes less than 2 minutes to apply for the loan and submit basic KYC documents. As small cash loan in Mumbai is available at short notice and for a short tenure, it is also known as short term loan or fast cash loans.
Why Choose Small Cash Loan/What is the Purpose of Instant Cash Loans ?
Small cash loan in Navi Mumbai and Mumbai is directly provided by loanbaba.com. You do not have to wait to compare banks and then apply for the loan. As same day personal loan is direct product of loanbaba, you get the funds almost immediately after lending decision is taken by us. You can apply for cash loan online at our website and submit basic documents. No need to submit income tax return files. The instant personal loan in unsecured and you can use the funds to fulfil any financial needs.Cash Loan
Most of the times, the loan is taken to bridge the gap between lack of finances and the day of salary credit. This is why small cash loan is also known as payday loan. In payday loan India service, the repayment is done every month on the day the salary is credited to borrower’s account. You can choose payday loan in Mumbai for covering crucial expenses such as medical treatment, funding projects, paying off soft loans, weekend getaways, travel trips, buying important things, or any other financial needs that can be met within Rs. 50,000.
Things to Consider before You apply for Loanbaba Small Cash Loan
Before applying online small cash loan on our website, consider the following points:
As a short term loan, the repayment is between 30 days and 90 days, which mean you can repay the loan sooner and get freedom from the financial obligation.
Repayment is via EMI method of monthly instalment. Small cash loan in Thane, Navi Mumbai, and Thane cannot be taken by self-employed individuals but salaried individuals only.
The loan amount borrowed (between Rs. 10 thousand and Rs. 50 thousand), will depend on many factors such as your income, financial condition, credit history etc. Get your credit score/CIBIL score for free through our website.
You must draw a regular monthly salary. The minimum salary limit is Rs. 25,000.
Instant loans are catered by loanbaba only to the residents in Mumbai, Navi Mumbai, and Thane.
Repayment can be done via NEFT or post-dated cheques (as per repayment cycle), submitted to loanbaba.
All necessary checks and documents are mandatory. Like other loan applications online, you will require KYC verification, income proof, employment proof, identity proof etc.
Processing charges will be mentioned in loan agreement. There are no additional or hidden charges.
Features and Benefits of Instant Small Loans
Given below are features and benefits of mini loans on our website:
Like personal loan, small cash loan can meet any of your financial requirements. We do not impose any restriction on end use of the funds.
Because of same day loan, you can get urgent funds in times of insufficient cash flow, without having to wait for days to get funds.
Bad credit loans may be available. However, a decent credit score is mandatory. Those with credit score of 600+ will be preferred as borrowers.
In case your credit score or history is weak, you may still get a loan. But you should have a strong repayment capacity at the present.
Types of Small Cash Loans in India
Small cash loans India from loanbaba.com is an easy way to fast money without hassles. This product carries different names by different lenders but is built on the same features and concept as the product available on our website.
Payday Loans India: As discussed earlier, payday loan online is like cash in advance wherein the borrower gets funds and EMI is deducted on salary date.
Short Term Loans: Given short tenure of 1 to 3 months, many financial institutions refer this loan as short term loan.
Instant Personal Loans: Both quick online loan and personal loan are unsecured and can be taken for supporting any monetary needs. Thus, many lenders name small cash loan as instant personal loan.
Small Cash Loan Eligibility Requirements
You can use our free loan eligibility calculator to know your small cash loan eligibility. Below listed are some points to consider for payday loan eligibility in Mumbai.
You should be above 18 years of age and a resident in Mumbai, Thane, or Navi Mumbai.
When applying for quick online loan, keep the KYC documents for verification.
Minimum credit score should be 600+. If you have lower credit score but a strong repayment capacity, loanbaba small cash loan may be provided.
Documents Needed for Same Day Loan
Below mentioned are the documents to apply for small cash loan online:
3 Months Salary Slip
6 Months Bank Statement
ID Proof, Address Proof, Photographs
Small Cash Loan Interest Rates
Compared to secured loans and loans provided only to customers with high credit score, unsecured instant cash loans can be offered on urgent basis, and additionally to those with low credit score. Thus, the interest rate will vary as per the customer profile and credit history. The small cash loan interest rate can be as low as 0.1% per day. There could be many factors that affect the rate of interest for easy payday loan.