How can I get a personal approved instantly?

How can I get a personal loan approved in less time? This is what most of us would ask. 

When we need quick funds for an urgent matter, we don’t want to wait for days. If you get your loan approval within a few minutes, how nice and fulfilling it would be. 

In fact, you may find that this thing is possible in today’s banking. You go to the bank, apply for a personal loan and there you get it approved and disbursed into your account. 

These days loan approval does not take time. The digital processing of proposals makes it less time-consuming. 

On top of it, it become kind of user-friendly. Even some time you may not need to be present there at the bank. You get the option to do it on your own online. 

Personal loan approval

When all the documents are proper and meet the eligibility criteria as per the bank’s loan terms and conditions. Loan sourcing, processing, sanctioning and disbursal can happen in 5 to 10 minutes.

So, making sure before applying for a loan is pertinent and if you already have prepared beforehand, it would smoothen the overall process.

To make this happen what precautions should you put in place? Let us find it out. 

Things to be taken care of

To get your loan approved instantly there are certain things you need to take care of. 

These may include details such as name, address, and date of birth, to other details such as your credit score, income details etc.

We have listed a to-do list for applying for a personal loan.

1. Make sure your KYC is okay

KYC is a must for applying for a loan. It is one of the important documents while sourcing your proposal.

All details should be matched. Even a slight name difference would lead to loan rejection.

IDs such as Office ID, aadhaar card, Driving licence etc should match as per the bank’s database.

The name and date of birth on the PAN card should also match.

Banks need to verify your identification along with your address. It can be established only with a valid ID card.

These valid IDs can be of the following

  • Aadhaar card
  • Voter card
  • Driving license 
  • Passport
  • Office ID card

A PAN card is not considered an ID but it’s mandatory. You cannot have loans without it.

2. Check your Credit Score.

Your credit score matters when you apply for a loan. A low score normally leads to loan rejection.

You may check your credit score with CIBIL Or Experian. You can access their website and check it on your own. 

Another way of checking your credit score is through bank internet banking. If you are having SBI bank account, then you may be able to check it on their net banking. 

Most banks put a cut-off score of 600 and above for clear sanction.

Increasing the CIBIL score is a tricky task. It is found that when you pre-close the existing loan, your score may increase.

Under normal circumstances, most of us have a CIBIL score of above 700. Provided you don’t have any bad debts or overdue loans.

Unless you have some overdue or bad debts, you need not worry.

3. Keep ready the income details 

The eligible amount of a personal loan is directly linked to your monthly income. 

Some banks give 24 times what you get as a net monthly salary. Other banks may have some variations, but overall your eligible amount will be calculated out of your income.

As per your salary, you may get good offers too. Those who have a monthly income of more than 1 lakhs might get a better offer.

Such as the State Bank of India has a specific product called Xpress credit elite which is for HNI customers with less interest and a more eligible amount.

To apply for a personal loan, you need to produce salary slips and form 16 or ITR.

Keep it ready, so that you may produce it when the bank asks for it.

4. Keep a few cheques leave

Most banks ask for a few post-dated cheques for contingencies. The bank may ask for a period of the tenor. 

It is impossible to give cheque leaves for the whole loan tenure. Banks usually take a few of them as a contingency in case of failure in SI execution.

If your loan is paid without failure of any EMI you will get back your cheque leaves when you close the loan.

5. Keep your salary account updated

Keeping your salary account clean is a good habit. See if the personal details are captured properly.

If your details are not matched with the ID card, make the necessary correction.

Also, see if your account is mapped with the salary package product codes. 

Nowadays, banks fix loan interest rates as per the types of departments. State and central government employees may get loans at lesser interest than corporate organisations.

The more stable your organisation is the less the interest rate may be. That’s why government organisations are having less interest as they are quite stable than the corporate giants.

6. Do invest in Mutual Funds or other insurance.

It is irrelevant to say that invest funds in mutual funds and other savings plans.

You need funds that’s why you are applying for a personal loan.

The thing is if you have invested earlier that gives a positive impact while applying for a loan as it would consider you are creditworthy.

If you have good asset figures, they normally reflect better asset and liability reports.

Having a good asset and liability report may give a positive response while making a good opinion report.

This ultimately results in a good credit score for sanctioning loans.

7. Close previous loans if any

If you have any previous loans running, try to liquidate and close the loan. 

It would decrease your eligible amount or may get rejected too.

Moreover, having multiple loans is not a good idea. You can do only when it is absolutely required.


Getting a personal loan nowadays is quite simple. You have got an array of options. Maximum banks are coming up with attractive offers, especially during the festive seasons.

You may apply online as well as offline. You can even get your loan without any physical papers. Digital processing of loans can be done from home, offices, on vacation, or from anywhere.

All you need is to look after a few things which would lead to easy, smooth and hassle-free loan processing. 

If all is well, you may get it at the earliest possible.

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