Gone are the days when you needed to wait for a number of days and in long queues for availing the loans for your personal and professional purposes. Now, with the advancement in technology, getting loans is very much easy and instant. You can either use a loan browsing app or can fix an appointment with the bank and company to get the loans.

Personal loans can be of good utility in times of financial needs, such as paying medical bills, electricity bills, paying school or college fees, etc. So, you can easily opt for such personal loans for unexpected expenses and emergencies that can come in life. However, this all is good but do you know how to apply for instant loans when necessary? If you are an individual who is searching out to have loans, then you need to get through some tips and tricks. Here is the article that will let you know about all of them, dive deeper and know.

Maintain a good credit score

Whenever you are in need of personal loans, it is very much important for you to know about your credit score. A credit score is the most important thing that is necessary for sanctioning ICICI personal loan. Knowing your credit history of yours will let you know whether you will have easy loans or not. In case, your credit history of you is good then there are no problems at all that you can face. But if the credit history is low, then this means that your debt management is not good and you can further face challenges when having loans. So, it is better that you get your score calculated before applying for instant loans.

Show clear income sources

From wherever you are thinking to have ICICI personal loan, the institution or the bank is going to ask you for bank statements for the past 6 months or salary slips. This is necessary because it helps them to determine whether your income of you is adequate to provide loans or not. If the income is not adequate then there are chances that you will not be able to repay the loans but if it is then you can pay back the loan amount easily. Hence, this is the reason we are recommending you to show clear income sources as this will help you in getting instant loans.

Make sure that you are meeting the eligibility criteria

Before applying forpersonal loans or online loans through the application, it is crucial for you to know about your eligibility. Check whether you are meeting all the eligibility criteria for applying for loans or not. In case, you are meeting all of the eligibility criteria, then you should move forward and have loans but if not then you should drop out of the idea and consult someone for having loans. For instant loans, the eligibility criteria can be as follows.

You need to be 21 above but not more than 55. You must be a resident of India. You must have all the KYC documents for the verification process. You need to be a salaried employee, but in case you are self-employed then you need to provide all the supporting documents.

However, these are some of the basic eligibility criteria but can change depending on the financial institutes and banks. So, meet the demands of the finance banks and institutes and get an instant ICICI personal loan.

In a nutshell, applying for an instant loan is not that difficult but you need to be extra careful when applying. Follow all of the tips mentioned above and give yourself the best.