Instant loans have a quick approval process, providing individuals with immediate access to funds.
Caution and prudence should be exercised while availing these loans to avoid debt traps.
These loans are readily available through banks, online lending platforms, and other financial institutions.
With the digitisation of banks, it is easy to apply for these loans from the comfort of your home or office.
Unlike traditional loans, these loans are processed quickly after submitting the application.
The interest rate on personal loans is higher, as they are unsecured loans.
Instant loans typically offer amounts from a few thousand to several lakhs of rupees.
Compiled by Syed Muskan