Need urgent cash but can’t afford to wait days for bank approval? Whether it’s a medical emergency, a time-sensitive travel plan, or a sudden home repair, you need funds now, not next week. That’s exactly where one-day personal loans step in.
These loans are designed for speed and simplicity, offering approval and disbursal within 24 hours, sometimes even in under an hour. With minimal paperwork, fully digital applications, and no lengthy queues, one-day loans have become the go-to solution for salaried professionals, freelancers, and even students who need fast financial support.
In this guide, we’ll walk you through how to apply for a one day personal loan in India, who’s eligible, what documents you’ll need, and how to ensure you get your funds without delays.
What Are One-Day Personal Loans?
A one-day personal loan is a short-term loan designed to provide quick financial assistance, with the entire process—from application to disbursal—completed within 24 hours or less. Unlike traditional loans that might take several days or even weeks to get approved, one-day loans are fast, hassle-free, and usually require minimal documentation.
These loans are offered by different digital lenders, NBFCs, and some private banks through a completely online process. Whether you're facing a sudden medical bill, urgent travel expense, or simply need cash to tide you over till payday, a one-day loan can be the lifeline you need—when you need it most.
Why One Day Loans Matter: Key Benefits
- Perfect for Financial Emergencies: Life doesn’t always wait for payday. When unexpected expenses crop up, like hospital visits, urgent repairs, or an unplanned trip, one-day loans offer an immediate solution without lengthy procedures.
- Quick Disbursal, No Waiting Games: Time is money, especially when you’re in a bind. These loans are approved and transferred to your bank account often within hours, giving you real-time access to funds.
- Simple, Paperless Application Process: No need to collect piles of documents or visit a bank branch. Most one-day loan providers operate via mobile apps or websites, allowing you to apply anytime, from anywhere.
- Open to a Wide Range of Borrowers: Whether you're a salaried employee, a freelancer, or even a student with a side hustle, many platforms offer one-day loans tailored to your profile, sometimes even if you don’t have a high credit score.
- Minimal Documentation: Usually, all you need is your Aadhaar, PAN card, a few months' bank statements or salary slips, and you’re good to go. This simplicity removes barriers for first-time borrowers.
- Maintains Your Financial Stability: Rather than dipping into savings or borrowing from friends and family, a one-day loan helps you manage short-term cash flow gaps independently and discreetly.
- Builds or Improves Credit Score: Responsible repayment of short-term loans, especially from regulated platforms, can positively impact your credit score and improve your eligibility for larger loans in future.
Simply put, one day personal loans help you deal with urgent expenses quickly and easily—no long wait times, no complicated steps, just fast access to the money you need.
Key Features and Benefits of One-Day Personal Loans
One day personal loans are designed with convenience and urgency in mind. They're ideal for people who need fast financial support without the delays and complexities of traditional banking. Whether it’s for an emergency or simply to bridge a short-term gap, these loans come with features that prioritise speed, simplicity, and accessibility.
Here’s what makes them stand out:
Key Features and Benefits
- Fast Approval and Disbursal: These loans are processed quickly—many lenders approve and release the funds within a few hours of your application, making them perfect for urgent needs.
- Minimal Documentation Required: You usually only need basic documents such as PAN, Aadhaar, and a few recent bank statements or salary slips. No lengthy paperwork or physical visits.
- Fully Digital Process: From application to disbursal, the entire process might be completed online through a website or app—saving time and effort.
- Flexible Loan Amounts: It basically depends on the lender and your profile, you can borrow as little as ₹1,000 or as much as ₹5,00,000. This makes them suitable for both small emergencies and larger short-term needs.
- No Collateral Needed: These are unsecured loans, so you don’t need anything as security to get approved.
- Quick Decision Making: Automated systems and credit assessments help lenders make instant decisions, especially if you meet the basic eligibility criteria.
- Improves Financial Independence: One day loans allow you to manage your own finances without borrowing from friends or family—offering more privacy and control.
- Opportunity to Build Credit History: Repaying your loan on time might help improve your credit score, especially if you're new to credit or rebuilding your financial profile.
With all these features packed into a quick and simple process, one day personal loans are a reliable option when you need funds fast—without the usual complications.
Eligibility Criteria for One-Day Personal Loans
Although one day personal loans are made to be quick and easy to access, lenders still follow certain eligibility checks to ensure responsible borrowing. Meeting these basic criteria helps improve your chances of getting approved quickly, often within a few hours.
Here's what most lenders typically look for before disbursing a one-day loan:
Who Can Apply?
- Age Limit: You must be at least 21 years old, and typically not older than 60 years at the time of loan maturity.
- Employment Status: You should be either a salaried employee, self-employed professional, or freelancer with a stable income source. Some platforms may also offer loans to students with part-time income.
- Monthly Income: Most lenders expect a minimum income of ₹15,000 to ₹25,000 per month, based on the loan amount and your city of residence.
- Credit Score: While a CIBIL score of 650+ is preferred, some digital lenders may approve applicants with limited or no credit history—especially for smaller loan amounts.
- Location: Some lenders may limit availability to specific cities or regions, especially if operating digitally.
- Bank Account: You must have an active bank account in your name to receive the loan amount.
Documents Required for One-Day Personal Loans
While one-day loans come with minimal documentation, lenders still need to verify your identity, income, and banking details before disbursing funds. Having these documents can help speed up your approval process.
| Document Type | Accepted Documents |
|---|---|
| Proof of Identity |
|
| Proof of Address |
|
| Proof of Income |
|
| Employment Proof |
|
| Photograph |
|
| Bank Details |
|
Note: Most digital lenders allow you to upload these documents directly via their app or website—no need for physical copies or in-person submission.
How to Calculate Your EMI for an Instant Loan
Calculating your EMI (Equated Monthly Instalment) for a one-day personal loan is simple and can be done manually or with the help of an EMI calculator. If you prefer doing it manually, here’s the formula:
EMI = P x R x (1+R)^N / [(1+R)^N-1]
- P is the loan amount.
- R is the monthly interest rate (Annual rate/12/100).
- N is the number of monthly instalments.
Example:
Let’s say you want to take an instant loan of ₹50,000 at an annual interest rate of 15% for a 24-month tenure. First, calculate the monthly interest rate:
R = 15/12/100 = 0.0125 (1.25%)
Now, using the EMI formula:
EMI = P x R x (1 + R)^N / [(1 + R)^N - 1]
Plugging in the values:
EMI = ₹50,000 x 0.0125 x (1 + 0.0125)^24 / [(1 + 0.0125)^24 - 1]
Calculating it out gives you an EMI of approximately ₹2,490. So, you’d be paying ₹2,490 every month for two years to repay the loan!
Interest Rates and Fees for Instant Loans in India
Before securing a one-day personal loan in India, it's essential to understand the associated costs, including interest rates and any additional fees.
Here’s what you need to know:
- Interest Rates
- Most lenders in India like Pockelty offer competitive interest rates, typically starting around 2% per month. The exact rate might change depending on some reasons such as your credit score, loan amount, and repayment tenure, ensuring that your monthly EMIs are manageable within your budget.
- Loan Processing Fees
- A small processing fee is usually charged, ranging from 1% to 8% of the loan amount. This fee covers administrative costs involved in processing your loan application and is designed to keep your loan disbursal smooth.
- Penalties for Late Payments
- Timely repayment is crucial to avoid penalties:
- Overdue EMI Charges: Missing a payment can lead to a small penalty, which helps maintain your credit score.
- Bounced Payment Charges: If your automatic payment fails, a nominal fee will be charged.
Getting to know these rates and fees, you can make informed decisions about your one day loan in India, ensuring a clear path to financial relief!
Let’s have a quick look at which one-day loan app you can choose while based in India. Keep scrolling through!
Top 5 Platforms for One Day Personal Loans Online in India
When time is tight and you need funds fast, choosing the right lender can make all the difference. Across India, several trusted platforms offer same-day personal loan disbursals, each tailored to different income levels, credit profiles, and financial needs.
Here’s a quick look at some of the best platforms where you can apply for a one day loan and get the money in your account—often within hours.
| Platform | Loan Amount | Interest Rate | Processing Fees |
|---|---|---|---|
| Pocketly | ₹1,000 to ₹25,000 | Starting at 2% per month | 1% to 8% of the loan amount |
| Moneyview | ₹5,000 to ₹10 Lakh | Starting at 10% per annum | Up to 6% + GST |
| Buddy Loan | ₹10,000 to ₹15 Lakh | Starting at 11.9% per annum | 2.5% to 6% |
| mPokket | ₹500 to ₹30,000 | Starting at 11% - 24% per annum | ₹50 to ₹200 + 18% GST |
| Fibe | Up to ₹5 Lakh | Starting at 12% per annum | 2% of the loan amount |
Application Process for One-Day Personal Loans
Applying for a one-day personal loan is designed to be quick, simple, and convenient. Most lenders now offer a fully digital process, allowing you to apply from the comfort of your home—though in some cases, in-person options are also available.
Here’s a closer look at how the application process typically works:
1. Online vs In-Person Application
- Online Process: This is the most common route for one-day loans. You can apply via the lender’s website or mobile app by filling out your details, uploading required documents, and verifying your identity through digital KYC. Many platforms offer real-time status tracking.
- In-Person Process: Less common for instant loans, but some traditional lenders may still allow walk-in applications at their branches. This method is usually slower and might not qualify as a true one-day process.
2. Understanding Terms and Conditions
Before submitting your application, it’s essential to review the terms and conditions carefully. Pay close attention to:
- Interest rates and how they’re calculated
- EMI schedule and due dates
- Processing fees and any hidden charges
- Prepayment or foreclosure rules
- Penalties for late payment
Being informed will help you avoid surprises down the line.
3. Submitting the Application Form
Once everything is in place:
- Fill in your personal, financial, and loan-related details accurately.
- Upload all required documents in the correct format.
- Review the summary of your application and submit it.
After submission, you’ll typically receive an acknowledgement via SMS or email. Some platforms also assign a loan officer or provide live chat support during the process.
You’ve probably heard it before, doing your research leads to better financial decisions. But the real question is: which app should you choose for one-day personal loans? Look no further, Pocketly is here to save the day with its seamless experience and lightning-fast cash disbursal.
Why Pocketly is the Best Choice for Instant Loans in India
When you're looking for quick cash without the hassle, Pocketly has your back! We’ve made borrowing money super easy, fast, and transparent—so you can focus on what matters, without the stress of complicated processes.
Here's a deeper look into why Pocketly stands out for personal loans in India:
- Lightning-Fast Approvals: No more waiting around. Pocketly’s smart tech gets your loan approved in just minutes, and the funds are transferred to your account almost instantly. So when you need cash urgently, we’ve got you covered.
- Minimal Paperwork: Forget about running around gathering documents. Pocketly only asks for basic info—like your ID and a few personal details—making the process quick and hassle-free.
- Tailored Loan Amounts: Need a small amount to cover a last-minute expense or something bigger to tackle a larger need? Pocketly lets you choose exactly how much you want to borrow, giving you the flexibility to handle your specific situation.
- Transparent Terms: No hidden fees, no unexpected charges. Pocketly is all about being upfront with you, so you’ll always know exactly what you’re getting into—peace of mind included!
- Flexible Repayment Options: Worried about paying it back? Don’t be! Pocketly offers flexible EMI plans that you can customise based on your budget, ensuring that repayment is as easy as borrowing.
With Pocketly, you’re in control of your financial journey—quick, simple, and stress-free, just how it should be.
How to Apply for a One-Day Personal Loan in India with Pocketly
Need quick cash but don’t want the headaches of a traditional loan process? Pocketly has you covered. Here’s how you can get a personal loan in just a few easy steps:
- Download the Pocketly App: Start by downloading the app from Play Store or App Store. And sign up with your mobile number and create an account.
- Enter Your Info: Once your account is set up, simply fill in your basic details—name, address, employment status. It’s quick and easy!
- Pick Your Loan Amount & Tenure: Whether you need ₹1,000 or ₹25,000, Pocketly gives you the flexibility to choose. Select how much you need and how long you’d like to repay it—so you have full control over your monthly payments.
- Upload Simple Documents: No endless paperwork here! Just upload your ID proof and bank statements digitally. Pocketly keeps it easy and stress-free.
- Get Instant Approval & Cash: Once your details are verified, Pocketly moves fast. If approved, the funds are sent directly into your bank account—often within minutes!
Conclusion
When unexpected expenses come knocking, waiting days for a personal loan approval just isn’t an option. That’s where one-day personal loans come in—quick, simple, and made for moments when time really matters.
With the right platform, you can apply online, upload a few basic documents, and receive funds directly into your bank account—all within a matter of hours. Among the growing number of instant loan providers, Pocketly stands out for its speed, transparency, and user-friendly interface.
So, whether you need to cover an emergency, bridge a cash gap, or manage a surprise expense, Pocketly’s personal loan solution has you covered.
Need funds today? Download the Pocketly app now and get your loan approved in minutes—no stress, no hidden steps. Just fast, flexible financial support when you need it most.
FAQs
Can I get a one-day loan without a credit score?
Yes, some digital lenders like Pocketly offer one-day loans even if you have a low or no credit score. Instead of relying solely on your credit history, they may evaluate your income, bank statements, and other basic details to determine eligibility.
How soon will the money be credited to my account after approval?
In most cases, once your application is approved and documents are verified, the loan amount is disbursed within minutes to a few hours. Exact timings may vary depending on the lender and your bank’s processing speed.
Can you get loan money instantly?
Yes, many online lending platforms offer instant loans, allowing you to receive funds almost immediately upon approval. Pocketly, for instance, can disburse funds within minutes.
Can I get a personal loan within 24 hours?
Absolutely! Many lenders, including Pocketly, can process your personal loan application and disburse funds within 24 hours, making it a convenient option for urgent financial needs.
How to get 20,000 rupees urgently?
To obtain ₹20,000 urgently, you can apply through online platforms that offer quick loan approvals. Ensure you have your documents ready and meet the eligibility criteria for faster processing.