Go Green: Paperless Personal Loans with Piramal Finance

Much has changed over the years in terms of how people access and use loans. Instead of waiting for days, most people today want fast and simple answers to their money needs. The era of digital platforms in the finance sector has made this easier. The government is already doing its share to digitise the economy. It is focusing on developing a cashless system. Piramal Finance’s paperless personal loans are one instance of how this sector is growing.

People in the digital era want fast answers to money issues. Loans given by Piramal Finance meet these needs. These loans assist them in solving the money crisis. Many experts predict that the future of client finance will be online. Let’s talk about how paperless personal loans are helping to alter lending firms.

Features of Paperless Personal Loans with Piramal Finance

Here are the features of paperless personal loans that you must note:

• No asset is needed.

Users do not need to pledge security or assets to get a loan from Piramal Finance. This makes these loans a good choice for many people.

• Tenure of flexible repayment.

Piramal Finance loans allow you to repay the loan according to your financial capacity. You may choose a payback period of 12 to 60 months.

• Huge loan amount.

Piramal Finance offers large loans of up to Rs. 25 lakh to meet your money needs.

• Other Offers.

Your needs are a priority at Piramal Finance. Piramal Finance’s loans are tailored to these specific demands and aims.

• Simple online access

You can monitor your loan account online, check your current loan balance, and even arrange partial payments since the process is fully paperless.

Before asking for a personal loan, research and compare loan rates, and look for hidden prices or charges. Piramal Finance places a premium on openness, and all charges are disclosed upfront.

You may apply for an online personal loan on Piramal Finance now that you know the whole process of getting a loan.

Perks of Paperless Personal Loans from Piramal Finance

A lending platform aims to test your creditworthiness by assessing your data online. Getting a loan via digital lending platforms is faster and easier than going to a bank. Here are some of the benefits of a paperless personal loan:

• It is trouble-free.

Getting paperless personal loans is easy. There is no need for lots of paperwork, many visits to the bank, or filling out and signing page after page. With a few mouse clicks, you may apply for a loan from the comfort of your own home.

• It takes less time.

The entire process, from approval to disbursement, is done online. You may save energy and time by not having to visit the bank often to submit papers. The loan is granted quickly and with minimal human interaction.

• It protects your data.

Digital lending sites are subject to strict security testing and must comply with bank-mandated security measures. Hence, the technology ensures that all data on the site stays private and secure. You must first match the eligibility rules to get a loan without papers.

Eligibility for Paperless Personal Loans with Piramal Finance

Following are the eligibility requirements for paperless personal loans with Piramal Finance:

• You must be a paid employee.
• You must be an Indian national.
• You must be between the ages of 23 and 58.
• You must have a clean credit history and an above-average credit score of 700 or higher.

Use the loan calculator to assess your eligibility when applying for a loan. All you have to do is enter your net revenue and the EMI you can afford. You will have all the needed data. Make sure you have a soft copy of the papers available to expedite your digital rapid loan form process.

Documents required by Piramal Finance

Paperless personal loans are simple and quick to apply for. Yet, to get the loan money, the user must provide some papers to the firm. These papers ensure that the user is a real borrower capable of paying the loan amount. Users must provide digital copies of these papers and allow the firm to verify them. Users may now e-sign papers, making the process easier. The following papers are needed for online loans:

• ID Proof

PAN card, Aadhaar card, driver’s permit, voter ID, and any other official ID with your picture and name are accepted as proof of ID.

• Proof of Address

For a paperless personal loan approval, you can show that you live in the area with your utility bills, passport, ration card, or voter ID.

• Proof of Job

Your work ID card acts as proof of employment.

• Money Records

You must also supply your bank records, Form 16, and the last two months’ pay stubs.

How do paperless loans function?

Many firms today find it relatively simple to receive and verify digital applications. You no longer need to visit a branch office to finish loan applications. You may do this from any place and simply ask permission. The process is mainly the same for all banks in the market, and the stages are as follows:

1. Go to the lender’s official website.
2. Fill out the online form with your data.
3. Provide digital versions of all vital paperwork.
4. The bank will get the papers and check their validity.
5. If the paperwork is approved, the loan is sent to the user’s bank account.

Conclusion

Paperless personal loans provide various perks for both lenders and users. By eliminating the time-consuming process of paper filing, you can save a lot of time and receive the loan amount quickly. Most of the country’s main banks offer pre-approved loans to current clients. Pre-approved credit does not need any papers since the user profile is already present with these banks. The ease of paperless personal loans has already become popular in India, and it’s expected to develop much more in the future.

Check out similar blogs on Piramal Finance and explore their products and services.