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Are you planning to avail an instant loan? Well, it’s 2024, and in these digital times, you need to just sit back in your comfort zone, and your smartphone is more than capable enough to handle your finances. 

Long gone are the days while availing of loan facilities was a tedious challenge that took up your entire day. Nowadays, it's pretty much just  a few taps on your smartphone. Especially after the COVID-19 outbreak, these loans have witnessed an extensive upsurge. 

Today, in this article, we’ll understand everything about such loan facilities and which is the best platform to avail them.

As the term suggests, these instant online loans are facilities that are offered by financial institutions so that individuals can quickly fulfil their personal needs. Be it refurbishing their work space, purchasing the latest smartphone or even for debt consolidation, the borrower here can literally use the amount for any personal purpose. 

Moreover, such loans can be availed without pledging any valuable asset. This means it is totally based on your creditworthiness and income. Here are the top advantages of such loan facilities:

  • No collateral

As mentioned above, there is no requirement of pledging your valuable asset in order to avail this loan. These are totally based on your creditworthiness as well as income, so ensure that both of these factors are totally secure and safe. 

  • Convenient

There is no need to go anywhere in this harsh weather! Just sit back, download the right loan app, and you are more than good to go. Digitalisation has undoubtedly made our lives easier and helped us save a lot of time, money, energy, and fuel.

  • Versatility

You, as a potential borrower, are not bound to use the loan amount for a particular purpose. One can use the amount for any personal objective/goal. Be it purchasing the latest smartphone, debt consolidation or even refurbishment of your space, you can use the amount of the loan for any purpose. 

Which is the best platform for instant small loan online?

If you are planning to avail such a facility, then ‘Stashfin’ is highly recommended. This is one of the best and easiest platforms to use in 2024 and the major advantage here is that they offer interest free loans. This means that you just have to pay them back the exact amount you initially borrowed from them.


This application is available for both Android as well as iPhone devices, and one can even explore their website. Here is a step-by-step guide on how to avail a personal loan from this app:


  1. Download the app from the Play Store/App Store

  2. Sign up using your mobile number

  3. Add your personal details to check your credit limit

  4. Complete KYC! 


However, before you apply for the loan, make sure that you fall into their eligibility requirements. Here it is:


  1. Aadhaar Card

  2. PAN Card

  3. Last six months, complete bank statements

  4. Indian Citizen residing in India

  5. Age above 18

  6. Current Employment proof

  7. Monthly salary of Rs 15,000/-

  8. Bank Account

  9. Valid Identity

  10. Address Proof

Final thoughts

Availing this facility in 2024 is as easy as ordering pizza while sitting at home. Digitalisation has taken over, and it has made human lives much simpler. Two decades ago, who thought that managing finances would be as easy as now? 

Lastly, if you are planning to take out an instant loan, make sure that you have a repayment plan packed in your mind.