Get Instant loan from Airtel Payments Bank

Airtel Payments Bank is a part and a subsidiary unit of Bharti Airtel. Airtel is one of the biggest company in India which have so many telecom user. Bharti Airtel is expanding its business in finance technology as well. The Airtel Payments Bank was formed in 2016 and the headquarter of Airtel Payments Bank is in the national capital of Republic of India that is New Delhi. The Managing Director and Chief executive officer of this Airtel Payments Bank is Shri Anubrata Biswas. The Airtel Payments Bank had been given the Schedule Bank tag by the RBI (Reserve Bank of India). There are over 6 crore users who are using the services of Airtel Payments Bank.
Airtel Payments Bank is using Unified Payment Services for Payments sending and receiving through digital and secure medium.
Here in Airtel Payments Bank you can also open the Saving Account like other Banks. Pensions and insurance services are also offered by the Airtel Payments Bank.
In this page we will inform you that how you can take Instant loan from Airtel Payments Bank Digitally. We will give you complete details to get loan what is the eligibility criteria, documents required, EMIs, rate of interest for loan and everything that you have to know before apply the loan from Airtel Payments Bank.
Sitting in home you can get loan from Airtel Payments Bank in just easy steps. So please you are required to read below this article.

Eligibility Criteria for Availing Loan from Airtel Payments Bank :-

When you go to bank physically, then bank check whether you are eligible for borrowing loan after checking your eligibility. Here, digitally also all fintech companies check eligibility whether you have enough eligibility condition to get loan or not, same this case for Airtel Payments as well.
These are the following eligibility criteria for availing loan from Airtel Payments Bank :-
1) The foremost criteria is that you should be at least 21 years of age.
2) Also, only those you are Indian by nationality are eligible.
3) There is requirement of Permanent Account Number (PAN) card which is authorised by the Income Tax Department of India.
4) You should have latest colour size passport size photograph.
5) You should have good credit score and having a good financial history.
6) The loan seeker should have income source to repay the loan.

Here the list of documents required for Loan from Airtel Payments Bank :-

Candidates are required all documents that are listed given below.
1) Permanent Account Number (PAN) car is required Identification proof by Airtel Payments Bank.
2) Airtel Payments Bank demands proof of residence such as Aadhar Card issued by Unique Identification Authority of India (UIDAI), Motor Vehicle Driving license by ministry of road and transportation, Voter / Election ID card issued by the election commission of India.
3) Required the proof of income that three months E-statement of the Bank or the net Banking statement.
4) Passport Size colour size photographs.
If other than this Airtel Banks Payment demand so submit the other documents as well.

How to apply for the instant loan in Airtel payments Bank :-

The process of applying the loan is extremely easy process as compared to applying the loan from Physical Bank. Through online medium such as application or website of Airtel Payments Bank you can apply for borrowing loan and before applying you should check how much loan you wants and can get through this platform. After that fill all fields of the application form very carefully. After application form filled by you the Airtel Payments Bank will review and decide that you can avail loan or not. This process takes with in 24 hours. And you will receive whole amount that you have borrowed from Airtel Payments Bank will be transferred with in few days to your bank account.

The rate of interest in Airtel Payments bank can even below than 10.50%. Rate of Interest regularly revised as per changes of Repo rate by RBI. The interest rate may be better than many other financial companies that offer personal loan.
You can borrow the loan amount from Airtel Payments bank from ₹ 50,000/- and goes up to ₹ 5,00,000/- depending upon the loan requirement and eligibility of the user or customer.
Also, it is advised that one should borrow loan only when if required and capability to repay the instalments and should not use amount in unnecessary things.

Benefits and Cons of Instant loan :-

We have read everything and got complete overview about Loan procedure, documents required, eligibility criteria, application process, interest rate. But one thing is still remaining to know that what are some advantages and disadvantages of loan while considering when borrowing the loan.

Advantages :-

There are lot of advantages of taking loan are given below :-
1) Easily you get loan as compared to plan other loan such as car loan, home loan, educational loan, etc.
2) There are less documents required and here the Airtel Payments Bank will not demand to mortgage the asset. It is one of the plus point for loan appliers.
3) Here the rate of interests are quite less as compared to other loan such as car loan, business loan, education loan, home loan and various other loans.
4) If you are doing Instalments payment on time then it increases your credit points, so that in future bank can make more faith on you and you will get your future loan easily.
5) Here you are not asked any severe question that what you want to do from the borrowed amount.

Disadvantages :-

Coin have two sides means everything in this world have two sides, means if there are benefits of something there is also a great chance of cons as well. Here we will discuss coin other side too that is disadvantages.
1) By getting loan in easy steps can make people in debt. Knowing the fact that taking regularly loans for unproductive things can make people in debt. In some cases people can not make payments of the instalments due to bad financial planning.
2) Sometimes the rate of interest is much higher than other loans category.

Frequently Asked Questions (FAQ) :-

1) What is customer care number of Airtel Payments Bank ?
Ans:- 198 is toll free number and 121 is number can call from your airtel number for enquiries or complaint.
2) Where can I apply for the Airtel Banks Payment loan ?
Ans:- for more details click on www.airtel.in