There are stages in life when we require capital for a planned or unplanned event. A loan can be visualized as a viable option to rescue from an emergency financial situation. However, availing a loan isn’t a very smooth process, especially when we require one on an urgent basis. Loan approval might take a few days or even months few months before the cash is transferred to the bank account.
Now availing an instant cash loan is quite easy with the Upwards app. This app offers instant loans to salaried individuals up to INR 2 lakhs that is disbursed quickly, within 24-48 hours by following some simple steps.
Step by step procedure to apply for an instant cash loan on Upwards App
KYC Details: After downloading the Upwards app, the loan applicant has to submit the essential Know Your Customer (KYC) details in the portal. This includes the name, mobile number, date of birth, gender, residential address, PAN Card number, Aadhar Card number, and other specifications.
Age criteria: The borrowers must be aware of relevant age criterion that is designated for availing instant cash loan on Upwards app. The age bracket to get these instant loans usually ranges from 24 years to 50 years.
Salary slip: To avail instant cash loan on Upwards app, an individual must be a salaried person. Basically, the app has been outlined, keeping in mind the requirements of salaried individuals. Salaried personnel with as low as INR 15,000 per month earnings can opt for this loan easily without any hassle. By submitting the salary slip, there is no need to beg and borrow money from friends and relatives in a crisis.
Minimum one year of experience: As already mentioned above that these instant loans are meant for salaried individuals; hence, the job experience parameter is also relaxed. Experience of minimum one year is enough to procure this type of loan. Any newcomer in a job field can get this loan to finance the major events in their life.
No loan defaulting in the past three years: In Upwards app, there is no strict provision to check the credit scores, but an individual applying for an instant cash loan should not be a loan defaulter. Any defaulting in a previous or existing loans can lead to outright loan rejection. Applicants must adhere to this aspect if they wish to secure instant loans.
Six months bank statement: This is one of the significant parameters while applying for an instant cash loan in Upwards app. The previous six months bank statements help the lender to assess certain conditions like financial soundness of the borrower and get an estimate regarding their monthly income and expenses. The bank statements also evaluate an idea regarding other liabilities and payment patterns. To get instant loans, the applicant needs to submit bank details of past six months.
Specify Loan purpose: A loan applicant must fulfill the loan purpose for availing the instant cash loan. The loan purpose determines where the amount of the loan is getting directed. An instant cash loan can be taken for various purposes like wedding and family ceremonies, medical treatment, home construction and renovation, refinancing other loans and credit card bills, foreign tour, etc.
The Upwards app uses compound algorithms and source data from various mediums, to prepare their own credit ratings meant to deliver exceptional lending services to its customers. The app interface is very innovative, simplistic and convenient for users too. It is specially designed for young salaried individuals to achieve their financial ends without a hitch.