If you’ve ever searched for instant personal loans online, you’ve probably seen ads promising “loans without documents” or “money in minutes.” It sounds tempting, right? Especially when you’re stressed about paying bills or covering an emergency. But let’s be honest—does any bank or NBFC really give loans without documents?
The short answer is no. Every personal loan requires documents. The difference now is that you don’t need to carry files to a branch. With digital banking, most lenders—including Bajaj Finserv—let you upload everything online and finish the process from home. So while it feels like “no paperwork,” the truth is your documents are just shared in digital format.
How the Bajaj Finserv Personal Loan Process Really Works
A few years ago, applying for a personal loan meant running from one office to another with salary slips, ID proof, and signed forms. Today, it’s much simpler. Bajaj Finserv allows you to apply directly through your phone or laptop.
- Here’s what typically happens:
- You enter your PAN and Aadhaar details.
- You upload income proof like salary slips, bank statements, or ITR in digital format.
- A quick video KYC is done to confirm your identity.
When Do You Actually Get a Loan Without Uploading Documents?
This is possible only if you already have a relationship with Bajaj Finserv. For existing customers, pre-approved personal loans are sometimes offered. In these cases, Bajaj already has your details on file, so you just need to confirm with an Aadhaar OTP and sign the agreement digitally.
For everyone else, income proof and KYC documents are non-negotiable. If someone promises you otherwise, be cautious—it could mean much higher interest rates or hidden charges.
Why Income Proof Matters
Think of it from the lender’s side. If they don’t see how much you earn, how will they know you can repay? That’s why banks and NBFCs check your income stability along with your CIBIL score.
Yes, some ads say “loan without income proof.” But in reality, that only applies if you’ve received a pre-approved offer. Without that, every borrower must provide income documents. Otherwise, the loan either won’t get approved, or it’ll come from risky lenders who charge way more than you expect.
Digital Loans: A Relief from Old Hassles
What’s good about Bajaj Finserv is that it removes the old headache of visiting branches, carrying files, and waiting for days. Everything from verification to approval can now happen digitally. For many borrowers, this has turned personal loans into a quick support system instead of a stressful process.
Still, remember this: documents are always required—only the format has changed.
