A few years ago, before the advent of digital banking, availing a loan was a lengthy, complicated and time-consuming process. Not anymore! Thanks to the rise in the number of lenders – banks, NBFCs, and digital lenders, securing a loan is faster than ever before.

Yet, there is one step that is a huge pain point – submitting required documentation. The endless trips to get your documents photocopied, and then waiting for hours till the loan processing officer verifies the filed documents. All of this is avoided with instant paperless loans that do not require any documentation.

What is a paperless loan? 

As the name implies, a paperless loan is a digital loan that doesn’t require any written application and documents. It's also known as instant loans or easy loans. The borrower applies online via digital lending platforms. The loan amount, interest rate, tenure, and EMI are decided during the application process. There is no need to submit photocopies or attested documentation, thereby simplifying the process.

Here are the top benefits of paperless loans:

  • Hassle-free – The entire loan process from loan application to approval and disbursal is carried online. The borrower can complete the process right from the comfort of his/her home and within a few minutes. No need to visit the lender in person or wait in queues to get the loan sanctioned. 

  • Quick – Since the entire process from approval to disbursement is handled online, the time taken is reduced considerably. Generally, the loan is sanctioned. The amount is disbursed within a few hours or at a maximum of a couple of working days.

  • Safe and Secure – Contrary to popular belief applying for a loan online is highly safe. The information you submit online is protected and remains private. 

How to apply for an instant loan without documents? 

There may be situations when you need cash instantly. In these scenarios, applying for an instant, a paperless loan is the best choice, as it helps you avail the required amount quickly, eliminating the need for a lengthy loan application process.

Here are three ways you can secure an instant loan without documentation:

  1. Take advantage of Pre-approved Loan Offers 

Generally, most banks and NBFCs offer pre-approved loan offers to existing customers. As the term implies, a pre-approved offer is an offer that you're automatically eligible for. You don't have to submit additional documents or begin the loan application process from scratch to avail of these offers.

The pre-approved offers available depending on your financial profile. Lenders consider several factors like your relationship with the bank, credit scores, previous repayment history, income levels, etc. to determine the pre-approved offers you're eligible for.

Pre-approved offers are designed specifically for you and help you borrow at affordable interest rates. You can find the pre-approved offers for you by logging into your internet banking account. 

Click on the offer that suits you and agree to the terms and conditions. Once the application is processed, the sanctioned loan amount is credited in your bank account within a few minutes/hours. 

  1. Choose a Lender with whom you Maintain a Good Financial Relationship 

Loyalty is a valuable tool in the financial world. Lenders generally prefer borrowers who maintain a long relationship with them, when compared to new customers. For instance, if you’re a long-term customer of a bank, and hold significant assets with the bank – savings account, fixed deposits, insurance policies, mutual funds, etc. – then you can easily qualify for an instant personal loan without submitting additional documents. 

This is because your long-time bank already holds the required KYC documents and have access to your financial history. Hence, they don't require you to submit the documents once again.

Furthermore, lenders sanction personal loans for existing customers based on their income proof. So, if you hold a salary account with a particular bank, then you are more likely to be approved for an instant personal loan at that bank, without submitting documents. 

  1. Look for Lenders who offer Instant Loan Approvals 

Lenders who offer instant loan approvals require only the essential documentation like – PAN card, id proof, and address proof. You don't have to submit physical copies of these documents. You can quickly scan them using your mobile camera and upload it with your loan application. Generally, these lenders approve and disburse the required loan amount within 24 hours.

Points to Keep in Mind, while Applying for Instant Loans without Documentation 

  • Maintain a Good Credit Score

Even though several lenders offer instant loans without documentation, they are sure to check your credit score to determine your eligibility. So, it's highly recommended that you maintain a high credit score. The credit score determines your repayment capacity. Higher the score, the better are the chances of getting the loan approval sanctioned.

  • Basic Documents are still Needed

Remember that even if the loan is paperless, you still have to provide certain essential documents like your PAN card, identity proof, and address proof. You may be able to borrow without a PAN card for loan amounts lesser than Rs. 50,000. However, for values more than that, a PAN is mandatory. Make sure that you have these basic documents in hand before you begin the application process.

  • Prepare Alternative Proofs 

For instance, if you don't have the salary slip or IT returns, you can submit other documents like Form 16. If you don't have a particular document required by the lender, look for additional proofs that you can provide.


Don’t let the lack of documentation stop you from applying for an instant loan. Do your research and find lenders who offer you instant loans with minimal/zero documentation. Finally, always make sure to compare the interest rates and other fees charged by lenders, to pick the best deal that works for you.