A Payday loan is a small, short-term unsecured loan with high interest rates. The term "payday" in payday loan refers to when a borrower writes a postdated check to the lender for the payday salary, but receives part of that payday sum in immediate cash from the lender.
For applying for payday loan in India the applicant has to furnish the following
Age Proof
Proof of active bank account
Proof of income
A valid phone number
1. Online application
Decide on the amount that you wish to borrow as a Salary advance loan and the tenure of repayment. Enter these and you will be directed to the page to fill your details such as personal, employment and contact details for the application process to be carried further.
2. Confirm registration
Once you have submitted your details on the application form for Payday Loan we need to verify the details. This is done by simply sending you an OTP (One time password) on the email address and mobile number given by you along with your details. Enter the OTP to confirm that your registration is genuine and proceed further.
3. Instant approval
In an ideal situation your approval will be confirmed within minutes. In case of adequate details being not available, we may have to contact you via phone to make the process quick. We may also call you to bridge any gaps left in the application. To ensure that no time is wasted with the loan approval it is better to fill all the details completely at the very first go.
4. Signing the agreement
Like in all cases of money borrowing from an institute, after the approval signing the agreement papers is required. This process ensures that you are assured about the amount being sent to you and we are sure of the repayment.
5. Funds Disbursal
The last and the most exciting stage of the whole process is you receiving the funds. Once your agreement is signed, we disburse the loan amount almost instantly to your bank account. It generally takes 60 minutes to 24 hours for the funds to be transferred in your account depending on the procedures of your bank. On our side, we release your money within 30 minutes of you signing the agreement.
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