How to Get a Personal Loan Approved in Less Than 24 Hours

"When time is money, getting a loan quickly can make all the difference."

Ritu, a 25-year-old from Indore, works hard at her first job and juggles freelance projects. One evening, her laptop—the only thing Ritu relied on!—crashed. 

A new one would cost her ₹60,000, but she only had ₹15,000 saved. With a big deadline the next day, Ritu didn't have time to run to the bank or wait for a loan to get approved.

She needed ₹45,000 urgently.

By keeping her documents ready, knowing her credit score, and picking the right lender, she was able to get a loan approved and disbursed to her account in 18 hours.

Just so many individuals like Ritu require instant access to funds when time is critical. So, let’s take a closer look at whether personal loan approval in 24 hours is something you can achieve.

Need a Loan Fast? 24 Hours or Less!

Getting a personal loan in less than 24 hours might sound like something straight out of a movie, but it’s 

becoming more usual than you think.

Because of the advancements in digital lending, many major banks like HDFC Bank and ICICI Bank and platforms 

like PaySense and KreditBee offer instant approval for loans, which can happen in less than an hour for pre-approved customers.

But is it possible to get your loan approved in less than 24 hours?

Meet Amit, a 28-year-old working professional from Mumbai. He wanted ₹50,000 for his sister's wedding, but he had only saved up ₹10,000.

As Amit was pre-approved with ICICI Bank, he applied for the loan using their mobile app. He uploaded his Aadhaar, PAN, and salary slip, and to his surprise, after 30 minutes, the loan was approved, and in under an hour, the funds were transferred to his account.

Read More – Axis Bank Insta Easy Credit Card

Thanks to the rapid processing of the loan, Amit did not miss a beat during the wedding planning process, and the money was right there when he needed it.

Setting the Stage: Documents You Should Keep Handy

One of the major reasons why most loan applications are delayed? Missing documents!

Let's discuss in detail what documents you should keep handy, just like Neha, a 30-year-old graphic designer from Bangalore, who was able to get her ₹1,50,000 loan for her home renovation project.

Time-Saving Tip: Scan and save soft copies of these documents. Neha had all of them saved in a single folder on her phone, saving time and ensuring a smooth loan process.

Your CIBIL Score is Your Shakti—Handle it Wisely

Think of your CIBIL score (750 and above) as your secret weapon in the world of loans. It’s the first thing lenders check when deciding if they can trust you with money.

The higher your score, the better your chances of getting approved and at a lower interest rate.

Did you know? According to TransUnion CIBIL, if your score is above 750, you’re 79% more likely to get your loan approved, and you’ll probably pay lower interest rates too!

How to Read Your CIBIL Score: What’s Good and What’s Bad

Useful Tip: It’s a good idea to check your credit report regularly to ensure everything is accurate and to catch any errors that could hurt your score.

3 Quick Ways to Boost Your CIBIL Score:

Pay Off Credit Card Dues

• Clear your outstanding balances ASAP to avoid penalties and score drops.

• Example: Atul, 28, cleared a ₹15,000 credit card bill and saw his score rise by 40 points in 3 months!

Avoid Multiple Loan Applications

• Applying for too many loans at once can hurt your score. Apply strategically!

• Example: Priya, 32, applied for both a personal and a car loan in one month, damaging her score. After pausing applications for 6 months, her score recovered.

Keep Credit Utilisation Below 30%

• Use less than 30% of your credit limit to maintain a healthy score.

• Example: Raghav, 25, maintained a 25% credit utilisation, boosting his score from 700 to 760 in 6 months.

Choose the Right Lender: All That Glitters is Not Gold

When you’re in a hurry, it’s easy to grab the first loan offer that promises “money in 5 minutes”. 

But fast doesn’t always mean safe, and sometimes, it can cost you a lot more later.

Before you hit that ‘Apply Now’ button, slow down for just a minute and check a few important things:

Things You Should Always Check Before Choosing a Lender

For example, Neeraj, a 27-year-old from Jaipur, needed ₹1,50,000 quickly to pay for a professional course. In a hurry, he went with the first app he found — it promised “loan in 5 minutes” with zero fuss.

He got the loan, yes. But what he didn’t notice was:

• ₹4,500 in processing fees
• ₹2,000 for compulsory insurance
• ₹1,500 in extra documentation charges

In total, Neeraj ended up losing ₹8,000 — all because he didn’t read the fine print.

When it comes to loans, thoda patience dikhana is smart. Don’t let urgency burn a hole in your pocket.

Salary Slips to Bank Statements: Proof That You Mean Business

When it comes to personal loans, banks don’t work on promises — they trust paperwork.

Your salary slips and bank statements are proof that you can repay the loan without any trouble.

A stable salary and a clean bank account can seriously speed up your approval.

Documents You Need

For example, Saurabh, a 27-year-old marketing professional from Noida, needed ₹1,00,000 quickly to shift to a new house.

Luckily, he already had his salary slips showing a ₹45,000 monthly income and a bank statement with no issues — no bounced cheques, no sudden low balance.

Result? His loan got approved in just 10 hours without any tension!

Pre-Approved Personal Loans: Your "Skip Intro" Button for Loans

Imagine getting a loan with no paperwork and no waiting — sounds like a dream, right? 

Well, pre-approved personal loans are your shortcut to this reality. It’s like hitting the "Skip Intro" button on Netflix — straight to the good part.

So, how do you get this VIP treatment? Simple. Banks offer pre-approved loans to people who have shown 

they’re financially responsible. This means if you have a strong repayment record, a healthy bank balance, and a credit score of 750 or above, you could get a pre-approved offer without even applying!

What makes pre-approved loans so great?

No Extra Documentation: If you’ve been with your bank for a while and have a solid track record, they’ll often skip the paperwork.

Lower Interest Rates: Since your credit score is solid, the bank’s willing to offer you better terms.

Quick Disbursal: Unlike the usual loan process, these loans can be disbursed in as little as a few hours.

For example, Amit, a 32-year-old sales manager from Delhi, has been banking with HDFC for years. His credit score is a healthy 780, and he’s never missed an EMI payment. 

Also Read - Axis Bank Credit Card – Features, Benefits & How to Apply

One day, he got an SMS from HDFC offering a pre-approved loan of ₹2,00,000 with a lower interest rate than he expected. No documents needed, no waiting. He clicked on the offer and had the funds in his account within 6 hours.

The 5-Minute Checklist Before You Hit ‘Apply’

Before you click that “Apply Now” button, take just 5 minutes to check a few things. It could save you a lot of time and hassle later!

For example, Rahul, 30, was looking to borrow ₹2,00,000 for a medical emergency. Before he clicked "Apply Now" on his lender's website, he checked his checklist:

• CIBIL Score: 765
• Documents: Salary slip, bank statements, and ID proofs were all uploaded correctly.
• Loan Amount: ₹2,00,000 was well within his eligibility based on his income.
• Overdue Debts: He had paid off his credit card dues earlier that month.
• Bank Details: Verified his account number and IFSC code.

Rahul clicked "Apply Now" and was approved within 4 hours. Quick and smooth!

Quick Tip: A quick check before applying can save you from any unnecessary delays. Don’t rush; make sure everything is in order first!

When Debt Consolidation is Your Fast Track to Approval

Are multiple EMIs stressing you out? Debt consolidation might just be the solution to make the loan process smoother and quicker. 

It combines your several outstanding debts into a new loan with a single monthly payment and a reduced interest rate to help you lower your financial stress.

Let’s say you have these debts:

Total EMI: ₹20,669/month!

Now, you opt for debt consolidation and roll all those loans into one loan of ₹6,00,000 at a 12% interest rate. Your EMI reduces, and your credit score improves, making you look like a much better candidate for future loans.

Total EMI: ₹15,800/month!

Why Debt Consolidation is a Game-Changer:

• Lower EMIs: One loan, fewer payments, and lower monthly outgo.
• Better Credit Score: Paying off old debts improves your credit score.
• Quick Approval: With less outstanding debt, lenders are more likely to approve you faster.

Common Pitfalls to Avoid When Speed is Your Goal

Rushing to get your loan approved? Beware of these common mistakes that can cause delays or even lead to rejection. Let’s break them down quickly.

Pitfalls You Need to Avoid:

For example, Neha, applying for a ₹5,00,000 loan to renovate her kitchen, made a few mistakes. She applied to 4 different lenders, hoping for quicker approval, but this caused her CIBIL score to drop by 40 points. 

She also missed uploading her 6-month bank statement, which led to a 2-week delay. Had she applied carefully, she could have saved both time and stress.

Conclusion

Getting a personal loan approved in less than 24 hours is possible — if you’re smart about it. Like Ritu, Amit, and Neha, preparation is your real superpower. Keep your documents ready, maintain a healthy CIBIL score, choose the right lender, and double-check everything before applying. 

Quick funding isn’t just about speed — it’s about being ready when the opportunity strikes. With a little planning, you can meet urgent needs without stress or last-minute panic!

FAQs

• Can I get a personal loan approved in 24 hours?

Yes! With a good CIBIL score, complete documents, and online applications, many banks and apps offer 24-hour approvals.

• Does applying for multiple personal loans affect my credit score?

Yes. Each application causes a hard enquiry, which can lower your CIBIL score.

• Are instant personal loans safe?

Yes, if taken from trusted banks, NBFCs, or RBI-regulated fintechs.

• How can debt consolidation help me get a new personal loan faster?

Consolidating debts improves repayment history and lowers credit use, making approvals easier.

• What documents are mandatory for fast personal loan approval?

PAN, Aadhaar, salary slips, bank statements, and address proof.

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About the Author

LoansJagat Team

We are a team of writers, editors, and proofreaders with 15+ years of experience in the finance field. We are your personal finance gurus! But, we will explain everything in simplified language. Our aim is to make personal and business finance easier for you. While we help you upgrade your financial knowledge, why don't you read some of our blogs?