There’s no point in celebrating “World Environment Day” every year if your paper consumption is equivalent to the felling of a small forest. This includes printing your transaction slip at the ATM after withdrawing money, using paper towels to dry your hands, or using paper cups to drink coffee at your workplace (get your own coffee mug/flask!).
That said, when you’re applying for a loan, we wouldn’t want you to print copies of all your documents like your PAN card, passport, voter ID etc too. Paperless loans will help you reduce your carbon footprint on this planet. Besides, they save you all that time printing those documents and waiting in long queues at the bank.
We at BankBazaar have a bunch of Personal Loans that don’t require you to submit any paperwork. This way, you can get a Personal Loan by simply clicking on a button while wallowing in the comfort of your home. How cool is that?
Here are some handpicked paperless Personal Loan offers just for you.
TATA Capital Personal Loan: If you’re looking for a Personal Loan that requires no guarantor, has no pre-closure fees or part payment fees and has e-approval and top-up loan facilities, then this is for you. Yes, the TATA Capital Personal Loan not only has paperless approval but is a very desirable product. You can get a loan up to Rs. 20 lakhs with a tenure of 1 – 6 years.
What You’ll Love: Interest starting from 11.99%
HDBFS Personal Loan: This loan comes with an interest of 13.99% and if your loan gets disbursed before 14 August 2017, you also get a Rs. 1,000 Amazon gift voucher. While this loan doesn’t require a guarantor, it charges around 1% – 2% of the loan amount as processing fees. You can get a loan amount up to a maximum of Rs. 20 lakhs and it can be paid over a period of 1- 5 years.
What You’ll love: Balance transfer facility is available on this loan
ICICI Bank Personal Loan: With a comparatively low interest of only 11%, this loan is perfect if you’re the kind who doesn’t like getting out of your house. This loan offers doorstep service and a bank representative will come over to your house for relevant signatures if required. However, this loan comes with a processing fee of 2.25% or Rs. 1,149, whichever is higher.
What You’ll love: Top-up loan available on existing loan
Oriental Bank Personal Loan: You can get a loan of up to Rs. 10 lakhs with a tenure of 1-5 years. This loan also comes with a 0.5% processing fee on the loan amount. The good news is that this loan doesn’t levy pre-closure fees or part payment penalties. However, it requires a guarantor and is only available to salaried people who have a net monthly income greater than Rs. 50,000.
What You’ll love: Interest starting from 10.85%
HDFC Bank Personal Loan: Another paperless loan is the Personal Loan offered by HDFC bank. It requires no guarantor, has a balance transfer facility and you can get a loan of up to Rs. 25 lakhs. The interest on this loan starts from 10.99% and it also comes with a processing fee of 2.5%.
What You’ll Love: Get an Amazon gift voucher worth Rs. 1,000 for loans disbursed before 14 August 2017.
IndusInd Bank Personal Loan: If you’re looking for a hassle-free, paperless loan then this Personal Loan is for you. You can get up to Rs. 25 lakhs with a tenure of 1-5 years. This loan comes with a processing fee of up to Rs. 3,000 and doesn’t require a guarantor. The loan also comes with a top-up option and balance transfer facility. Moreover, you can prepay this loan with a pre-closure fee of 4% of the principle outstanding plus service tax.
What You’ll Love: Fixed interest rate starting from 11.99%
Fullerton Personal Loan: A loan with 17.25% interest is slightly steep, but this loan doesn’t require a guarantor, has paperless instant online approval and a balance transfer facility as well. However, this loan has a one-time processing fee of 1.5% – 6% and you can avail a maximum loan amount of Rs. 15 lakhs.
What You’ll Love: Has a pre-closure option
Paperless products are the way forward and we at BankBazaar offer a wide range of paperless financial products. Do check them out!
Bonus Read: Credit Cards with Paperless Approvals