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No Collateral Required

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11% Rate Of Interest

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Minimal Documentation

Bihar, one of the most populous states in India, is experiencing rapid urbanization and industrial growth. With this, the need for immediate financial assistance is increasing, especially in rural areas.

My Mudra provides a simple solution with instant loans in Bihar. Residents of Bihar can access funds quickly and easily through digital platforms, with minimal paperwork and fast approval, helping them meet urgent financial needs.

What is an Online Instant Loan in Bihar?

An online instant loan in Bihar is a fast financing solution made to meet immediate needs. Such loans are best for emergencies like medical bills, an unexpected travel expense, or some other sudden expenditure. They ensure fast approval and minimal documentation for quick access to funds. Fast loans have flexible repayment options and a shorter tenure, making them suitable for short-term financial crises.

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Features of Instant Loans in Bihar

01
Fast Processing

Instant loans are approved and disbursed within 24 hours, ensuring quick financial assistance.

02
Online Application

The whole process is digital allowing borrowers to apply conveniently from anywhere at their comfort.

03
No Collateral Required

These unsecured loans remove the need for providing the assets to the banks/NBFCs.

04
Flexible Loan Amounts

Borrowers can avail of amounts ranging from ₹5,000 to ₹5 lakh, depending on their eligibility.

05
Minimal Documentation

You only need KYC documents and income proofs while applying for the loan.

06
Short Tenure

The repayment terms are flexible, falling between 3 to 24 months.

Eligibility for Instant Loan in Bihar

You need to fulfill the minimum eligibility criteria to get a quick loan in Bihar.
01
Age: You should be in the age range of 21 to 60 years while applying.
02
Income: Your monthly income has to be steady, preferably ₹15,000 for the salaried and ₹20,000 for the self-employed.
03
Employment: If an individual is employed, they should have at least 6 months of working experience in the current position. For self-employed individuals, they should have been in business for a minimum period of 2 years.
04
Credit Score: With a credit score of 650 or above, this loan will easily be approved.
05
Residency: You should be a resident of Bihar.
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Documentation for Quick Loan in Bihar

When applying for a quick loan in Bihar, you will need to provide the following essential documents to complete the application process:

  1. Identity Proof:
    • Aadhar Card
    • Passport
    • Voter ID
    • Driver's License
  2. Address Proof:
    • Aadhar Card
    • Utility Bills (Electricity, Water, etc., not older than 3 months)
    • Passport
    • Bank Statement with Current Address
    • Rent Agreement (if applicable)
  3. Income Proof:
    • Salaried Individuals:
      • Last 3 months' salary slips
      • The previous 6 months' bank statements
      • Income Tax Returns (ITR) or Form 16 (if applicable)
    • Self-employed Individuals:
      • The last 2 years Income Tax Returns (ITR)
      • Business-related documents (e.g., GST returns, profit and loss statement)
      • The previous 6 months' bank statements
  4. Employment Proof:
    • Salaried Individuals:
      • Employment ID card or offer letter
      • Last 3 months' salary slips or bank statements showing salary credits
    • Self-employed Individuals:
      • Proof of business establishment (GST certificate, business registration, etc.)
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How to Apply for a Quick Loan in Bihar

Now, with My Mudra, getting a Quick Loan in Bihar is not a tricky process. You can apply for an Urgent Loan by following these steps:
01
Visit Our Website: Go through My Mudra website and click on the "Apply Now" button to begin the process.
02
Complete the Application Form: Provide your details, such as your name, address, and income, in the application form.
03
Submit Required Documents: Upload all the necessary documents, like your Aadhar card, PAN card, and proof of income.
04
Loan Approval Process: Once your documents are uploaded, we will verify them. If everything is in order, your loan will be approved within 24 to 48 hours.
05
Receive Funds: After approval, the loan amount will be transferred directly to your bank account.
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Which Banks to Apply for Instant Loan in Bihar

The Instant Loan interest rates are competitive in Bihar with My Mudra. Here is the following information on quick loan providers with interest rates in Bihar.

Banks/NBFCs Interest Rate
SBI 11.45 % P.A.
Yes Bank 11.25% P.A.
Kotak Mahindra Bank 10.99% P.A.
IndusInd Bank 10.49% P.A.

Quick Loan in Bihar EMI Calculator

An Instant Loan in Bihar offers fast access to funds for urgent financial needs. The EMI (Equated Monthly Installment) Calculator simplifies your planning by helping you find out your monthly payments based on loan amount, interest rate, and tenure.

Just enter these details into the calculator to get instant results. This tool is important for managing your budget and avoiding surprises during repayment.

With an EMI calculator, you can ensure a hassle-free borrowing experience customized to your financial capacity.

Break up of total payment
Loan Amount
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Rate of Interest
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Tenure (In Months)
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Total Payable Amount:
Monthly EMI:

Why choose My Mudra for Instant Loans in Bihar?

My Mudra is a trusted lender that secures instant loans in Bihar. Here is why you should prefer My Mudra for your financial needs:

  • Fast Approvals and Disbursements: My Mudra ensures swift processing, helping you access funds quickly to address urgent financial needs without delays.
  • Minimal Documentation: The loan process is simple and hassle-free, requiring only basic documentation, making it ideal for emergencies.
  • Flexible Loan Options: Offers a wide range of loans, including personal, business, and home loans, customized to suit various financial requirements.
  • Affordable and Transparent Terms: Competitive interest rates, flexible repayment plans, and no hidden charges ensure a stress-free borrowing experience.
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Frequently Asked Questions (FAQs) About Instant Loan in Bihar

Q1. Can I apply for an instant loan in Bihar?

Ans. Yes, you can apply for an instant loan if you meet the eligibility criteria in Bihar.

Q2. How quickly can I receive the loan amount after approval in Bihar?

Ans. In most cases, once your loan application is approved, the loan amount is disbursed instantly or within a few hours, directly into your bank account.

 

Q3. Is a credit score required for an instant loan in Bihar?

Ans. Yes, a good credit score can increase the chances of approval for instant loan in Bihar.

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