Loangranted is a loan offering from Vivifi India Finance Private Limited, a non-banking finance company (NBFC) registered with the Reserve Bank of India (RBI)*

Installment loan in India from Loan Granted helps you handle any emergency situation easily. An installment loan is a financial product, where a set amount of money is borrowed all at one time; repaid in the form of a fixed number of payments called installments. The installment loan is usually a type of unbound and unsecured loan which requires regular monthly payments and doesn’t require a single lump-sum payment that many borrowers cannot afford. Installment loans spread out the cost over a long period of time, making them a more affordable alternative to many borrowers.

Installment Loan In India: Features and Benefits

Loan Granted is a loan offering from Vivifi India Finance Private Limited, a non-banking finance company (NBFC) registered with the Reserve Bank of India (RBI). It offers India’s quickest online installment loans with disbursal in just 24 hours and a loan up to INR 5 lakh by not compromising on any guarantees. It can be processed further with certain eligibility criteria and submission of basic documents. Therefore, the regular payment amount, typically due monthly, stays the same throughout the loan term, making it easy for the borrower to budget in advance to make the required payments.

Loan Granted is offering personal loans , which is same as installment loans, making it more appealing with its advantages mentioned below:

  1. No collateral: Installment loans at Loan Granted are collateral free. As the borrower is not required to submit his assets as security for the loan, they are even free from risk in case of non-payment.
  2. Larger borrowing options: It is easy to borrow a large sum of money for huge purchases like a car, home renovation, or a vacation.
  3. Predictable monthly payments: It’s easier to plan the budget as the installment loans have fixed interest rates and no greater monthly payments.
  4. Longer repayment term: Installment loans generally fall in the long-term range. Hence, monthly repayments are lower as the loan is spread over a longer-term.
  5. Easy application process: Loan Granted installment loan is very transparent. An online application form will be provided to the borrower to fill in the details along with the submission of some necessary documents.
  6. Instant approval & cash: At Loan Granted, the installment loan is approved in 1 day, the cash gets deposited to the borrower’s account instantly.
  7. Options for all credit ratings: Even with less than perfect credit history, one can apply for an installment loan at Loan Granted.

Installment Loan in India: Eligibility

Loan Granted provides installment loan for salaried professionals. No compelling reasons to check on the installment loan eligibility. Listed below are the documents required to get installment loan approval online.

  • Must be of Indian nationality
  • Should be a salaried individual
  • Minimum eligible age is 18 years
  • Net income should be at least 8000 INR

Loan Granted shall check the individual’s eligibility for an installment loan through CIBIL report - that incorporates all the past running loans, payment track record on loans and credit cards. So, the CIBIL score is the most significant factor that defines the eligibility to get an installment loan. A higher credit score builds higher chances for loan/credit application to get approved. Nonetheless, a very low CIBIL score will diminish your eligibility to get an installment loan.

An installment loan is one of the most traditional loan products offered by lenders, which are often lower risk loans than loans without installment payments.

Documents Required to Apply for an Installment Loan in India

Listed below are the documents required to get Installment loans approved online at Loan Granted:

  1. Identity proof
  2. Address proof
  3. PAN card
  4. Passport size photographs
  5. Last 3 months payslips
  6. Bank Statements of past 3 months

Loan Amount

Avail installment loans worth INR 4,000 to INR 5,00,000 with Loan Granted.

Loan Tenure

The tenure of a Loan Granted installment loan is up to 3 years.

How to Apply for an Installment Loan in India at Loan Granted?

A step-by-step procedure to get an installment loan in a day:

  1. Login to Loan Granted website and click apply now; redirected to the loan application form page.
  2. Fill in your personal details, employment details, and income details.
  3. Submit the loan application form along with the mandatory documents.
  4. The funds will be transferred to your bank account within 24 hours.

Installment loans are the easiest option to get emergency funds quickly, and the cost of repayment is spread out over a number of months, so repayment is affordable. Applying at Loan Granted serves you with a quick and hassle-free process to achieve instant installment loans, in addition to low-interest rates and other additional benefits that help in meeting all the financial obligations and commitments with ease. Many borrowers find it quicker and easier to get an installment loan online than in person at a traditional bank or credit union.

FAQs


You can quickly apply for a personal loan with Loan Granted using our simple online application form.
The mandatory documents required to apply for a personal loan with Loan Granted are:
  1. Identity proof
  2. PAN card
  3. Address proof
  4. Bank statements for the last 3 months
  5. Salary slips for the last 3 months
  6. Photo
No! Loan Granted personal loan can be availed by only salaried individuals with a minimum salary of INR 8,000.
To be eligible for our personal loan, you must be an Indian citizen with a minimum of 18 years of age.
Loan Granted personal loan is approved almost instantly.
You can borrow as low as INR 4,000 and up to INR 5,00,000 with Loan Granted.
The loan tenure is up to 3 Years (Open-ended)
No, this is an unsecured loan. You don't need to provide any security, guarantors, or collateral.
Yes, you can prepay your loan. Loan Granted doesn't levy any prepayment fee.
A personal loan from Loan Granted can be utilized for any of your needs. There are no restrictions on usage!
Electronic Bank Verification is a revolutionary process used by banks, lenders and other financial institutions to verify the financial status of a potential customer. While applying for an online personal loan with Loan Granted, you can choose the EBV option instead of 'Upload Your Documents' option to get instant loan approval.
Your personal loan application with Loan Granted will be rejected if your profile doesn't meet our eligibility requirements.
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