Digital and Paperless Personal Loans – an Easy Way to Get Emergency Funds

A few years ago, if you wanted a personal loan, you’d have to head out to visit the nearest branch of a bank. But thanks to technology and digitization, banking services have irreversibly changed, becoming easier, faster, and more convenient. Today, a personal loan – arguably the most popular loan type on account of its accessibility and unsecured nature – can literally be obtained at the click of a mouse.

Digital and Paperless Personal Loans

Also known as a digital or paperless personal loan, it is becoming increasingly popular for its great ease and convenience. Find out how it works and about its benefits right here.

How Does a Paperless Loan Work?

The application process associated with a paperless personal loan is fairly simple and brief. Irrespective of the credit institution you choose, there is a standard procedure involving the following steps:

  • Visit the official website of your chosen bank.
  • Fill the online application form with your personal details.
  • Submit soft copies of the requisite documents.
  • Once the documents have been submitted, the lender will verify their validity.
  • If the documents are approved – which in most cases, they are – the loan amount is transferred to your personal savings account.

Advantages of Digital, Paperless Loans 

As suggested by the name, a paperless loan is an instant, digital loan that does not require any paper documents or even a written application. One may easily apply for this type of loan through the bank’s digital lending platform.

There are several advantages of this loan type:

  1. User-Friendly: You may apply for an online personal loan from any part of the country or world at any given point of time. You can have the funds you need while sitting at home or your workplace.


  1. Minimal Documentation: Digital personal loan applications require you to upload only some of the most basic documents such as your identity proof, income proof, and address proof. This paperless, eco-friendly approach helps you reduce your carbon footprint and contribute to the environment.
  1. Swift Disbursal: Online personal loans are typically approved instantly, ensuring the loan amount is disbursed directly to your bank account the same day as you apply, subject to the correct submission of documents.
  1. Ideal for Emergencies: A personal loan is very often taken during emergencies when time is a crucial factor. This is when an online personal loan can come in handy. Since it does away with the need to visit a bank branch and can be applied for from even your smart phone, it is ideal for situations like a medical emergency.
  1. Safe & Secure: Since the application and verification process of a paperless loan is digital, it is widely believed by industry experts to be safer and more secure than maintaining paper documents.
  1. Choices Aplenty: Today, several leading banks offer personal loans online. This allows you the freedom to visit the official website of various banks and find out their interest rate and terms & conditions to make a comparative evaluation. Physically, it would have been nearly impossible to visit multiple banks in search of the best deal.

Indus Easy Credit Personal Loan 

One such paperless online loan that comes with all the aforementioned benefits is the Indus Easy Credit Personal Loan offered by IndusInd Bank. In addition to having a hassle-free and 100% digital application process, it has other customer-friendly features like low interest rate, low processing fees, and a flexible repayment tenure.

In need of immediate cash? Apply for Indus Easy Credit Personal Loan now!


Natraj Studied bachelor's degree in finance and business from Telangana University, Nizamabad. A Writer based In India, He has a degree in Charted Accounts and has very knowledgeable in credit repair and Banking Sectors. So, I decided to start a blog and share my knowledge to the visitors.

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