I need 2000 rupees loan urgently - What to do?
Updated: Oct 8, 2023
Growing inflation and financial stress are already hurting everybody and on top of it, you might have to face difficulties due to some financial emergency such as a medical emergency, school fees payment, etc. You may require some extra cash in your pocket. If questions such as - I need 2000 rupees loan urgently, Whom should I contact? or Who can lend me 2000 rupees instantly? are revolving in your mind then this blog will help you.
In this article we have listed 4 companies that provide instant loans of rupees 2000. We have also discussed the eligibility requirements for getting a 2000 rupees loan urgently and some alternative platforms that provide instant credit line.
List of companies that provide 2000 rupees loan urgently
What eligibility criteria should I satisfy if I need 2000 rupees loan?
Every firm has unique requirements for assessing the eligibility of a personal loan. But, almost every firm requires details such as nationality, age, monthly income, credit score, and nature of employment. Some companies also ask for working experience and NTC scores in case of applicants who are new to credit. The personal loan can be used for wedding, travel, home renovation, higher studies, Medical expenses etc.
Let us understand each eligibility criterion in detail.
Nationality: To be eligible to apply for a small personal loan for instant disbursal you must be an Indian citizen. You would require documents such as Adhar card, Passport, or Driving license as proof of identity.
Age: The minimum age requirement in some cases is 18. But this requirement changes from company to company and type of personal loan as well, many companies prefer to disburse a loan to a person who is 21 years or above.
Monthly Income: During our research, we found that companies require you to earn at least 10,000-18,000 to be eligible for an instant personal loan.
Nature of employment: The personal loan limit or interest rate might change based on your nature of employment. This tells lenders whether you are a salaried person with a public/private firm or you are self-employed.
Credit score: This score is determined by companies such as CIBIL that is calculated based on your credit history. It basically signifies your creditworthiness. People with a get credit score have to pay lesser interest on the principal amount.
5 things to know before applying for 2000 rupees loan urgently
Although many online and offline options are available for getting a 2000 rupee loan, here are 5 things that you must check before applying for the credit line. Being aware of these factors will ensure safety and save a lot of money for you.
Interest rate- The most important thing to note before applying for a small personal loan is the chargeable interest rate. The interest varies from lender to lender and is mostly 12-36% Per annum depending on your credit score and many other factors.
Tenure of repayment- The tenure of repayment is the amount of time allotted to you to repay your loan amount. Remember, longer repayment may cost you a lot of money as interest is charged for the complete tenure. The repayment tenure might range from 6 months to 1 year or more depending upon the loan amount.
Terms and conditions- Read the terms and conditions thoroughly to make sure that you comply with all the rules and do not pay any extra fees. Many times companies disclose any hidden charges through their terms and conditions.
Processing fees- The processing fee is an optional amount that you would have to pay in order to receive the loan amount in your bank account. The processing fee ranges from 0-3% depending on the lender.
Trustworthiness of the lender- Make sure that you apply for a loan to a registered NBFC or RBI registered bank in order to be safe as these loans are regulated by RBI.
List of companies that can help me if I need 2000 rupees loan urgently
Rapidrupee is a new-age company that provides an instant cash loan of 1000-20000 rupees. The company says it provides loans within 30 minutes without any hidden fees or commissions. The loan can be repaid within 3-12 months. The loan amount can be used for any purpose. Customers have to simply download the rapid rupee app, fill the form for a loan application, upload Adhar card/Pancard and apply for a loan.
Elegibility Criteria:
Age | 22-59 years |
Income Level | Atleast 10,000 rupees monthly income |
Minimum Credit score | No credit score needed |
Bajaj markets is a subsidary of Bajaj Finserve who has partnered with multiple companies such as Paysense, fibe, cashe, Kreditbee to provide instant loans to their customers. Depending upon the choice of lender and your credit score the interest rate ranges from 14-30%. The oan can be used for weddings, travel, home renovation higher studies, Medical exigency, and buying expensive gadgets.
other details
Elegibility Criteria:
Age | 21 Years or above |
Income Level | Atleast 15000 monthly income |
Minimum Credit score | 700 |
Kreditbee is an instant personal loan platform that acts as a facilitator between borrowers and NBFC/Banks approved by RBI. The company promises a loan disbursal within 10 minutes. Borrowers can apply for an instant personal loan of rs 1000-4,00,000. The process is completely online and available 24X7. The borrowers must submit identity proof such as a PAN card, Adhar card/Passport for address proof, and photograph.
Elegibility Criteria:
Age | 21-50 |
Income Level | Atelast 10,000 rs per month |
Minimum Credit score | Not Disclosed |
Lendbox is a Peer to peer lending platform where you can lend as well as borrow money. To get a instant loan the company provides small personal loan service which provides loan from ₹1000-₹100000. The loan is disbursed on the same day and requires no collateral. Loan tenure is 1 to 12 months. The loan process is completly online and has no pre closure charges. There are imitation to where you can use the disbursed loan amount.
Elegibility Criteria:
Age | at least 2 years |
Income Level | 15000 |
Minimum credit score | Not disclosed |
5. Other Alternatives
Apart from the instant personal loan and instant cash loan, you can receive a credit line from many companies to pay bills, and buy products or services. One of the advantages of this option is that usually the companies providing this facility do not charge any interest upto one month. But, there is a limitation to this service. You cannot transfer the amount to your bank account or pay to any other platform.
Examles of these services include:
Paytm Postpaid - Paytm Postpaid offers a credit line without interest of upto 60,000 rupees. The interest has to be paid if the loan amount is not paid within one month
Cred cash- Cred provides a credit line of 80000 rupees. This is available for people using cred for at least some time. The interest ranges from 12-18% per annum based on your credit history.
Dhani Loan and Services - Dhani offers a credit line upto 50,000 rupees per month. This amount can be spent exclusively for shopping on Dhani. The credit line is interest-free and can be paid in 3 installments within 60 days.
Conclusion
With advances in technology and the introduction of new business models, it is now possible to receive an instant loan or a credit line in emergency situations in order to meet your financial needs. But, in order to recive a loans with ease it is important to have a good credit history and required documents handy. Based on our assessment Rapidrupee is one of the most useful lenders for small amounts such as 2000-20000 rupees as it does not levy any conditions for the use of disbursed amount. Whereas other lenders allow borrowers to use the credit only in some circumstances wedding, travels, big purchases etc.
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