How to Apply for Loan Using MyShubhLife Loan app

We are living in a fast-evolving world. Everything is getting digital, even the loan application process. You have been looking for a quick loan application to get the personal loan approved within a few seconds. So, here is some good news. MyShubhLife is one such application that offers fast loans to all its customers.

If you need immediate funds, the MyShubhLife application is for you. You can avail of a quick loan that ranges from Rs 75,000 to Rs 5 Lakhs in a few simple clicks. Let me tell you; the complete loan process is online, and there is no further need for any manual documents submissions.

The loan amount can be repaid within one to four years of the loan tenure. The interest rate ranges from 1.25-2% per month. But, the customers can foreclose the loan after making 12 successful EMI payments.

How to Apply for loan using MyShubhLife Loan app?

Yes, the era of online loan application is already in the process. Most applications even started providing a quick loan facility to their customers. As mentioned before, the customers only have to upload their documents online to check their loan eligibility. After that, no need to make any manual documents submission to any person.

How to Apply for loan using MyShubhLife Loan app

Again, the loan approval depends on customer eligibility and credit score. Before anything, know about the documents you need to apply for a loan in the MyShubhLife Loan application.

Here is the list of documents to get loan:

  • Aadhar Card
  • Pan Card
  • Selfie
  • Income Proof (You can provide the last three months’ bank statement or salary slips for the same.)

Eligibility:

  • You need to be an Indian citizen.
  • Your age must be over 21 and less than 65.
  • You must be either a salaried individual or self-employed, earning more than Rs 20,000/month.

Application process (Step-By-Step Guide)

  • First, the customer needs to download the MyShubhLife application on their smartphone. It is available on all major smartphones platform.
  • Once installed, customers are requested to complete the registration using their mobile number and email id.
  • Customers will find the option to apply for a quick loan or check the loan eligibility. Just click on it.
  • After that, the customer has to complete eKYC by entering their Aadhar Card and Pan Card number.
  • Just provide the OTP you will receive in your Aadhar Registered Mobile.
  • Complete the KYC to know your approved limit.
  • Once the loan gets approved, click on the loan amount and select the loan tenure.
  • Please read all the terms and conditions before moving forward with the next steps.
  • Last, upload your selfie and provide the salary slips or bank account statement.
  • The customers even have to add two references. It can be of any friend or relative to confirm they know you.
  • Your loan application is now complete, and you will get informed within two working days.
  • Once it gets approved, you will directly get contacted by any of their executives for the amount disbursal.
  • That’s all.

Frequently Asked Questions

We have added a bunch of questions in this section to support your queries. Kindly ask us in the comments section if there is any other query.

In which cities MyShubhLife offer the quick loan facility?

Currently, it offers in: Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Mysore, Nashik, and Pune.

Do we need a higher cibil score to get the loan approval?

The loan approval depends on the financial model of the customer. Likewise, they check the repayment capacity of their customers.

How soon does the loan get approved?

It generally takes two working days to get the loan approved.

If my loan application gets rejected, how soon can I reapply?

You can apply for a loan in the MyShubhLife application after six months if your application gets rejected.

The bottom line

Quick loan applications are in trend. People are more curious about getting an instant loan online than visiting a bank and completing manual documents. MyShubhLife is one such application that offers such a facility.

We have added this article to provide enough information on getting instant loan approval on the MyShubhLife application. Let us know if there are any other queries for us.

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