How to quickly get a loan in India: 7 methods that actually work

While many financial advisors suggest keeping some emergency funds aside, getting a loan might be a perfect option for you when you don’t have money that you can use in an emergency. Except for emergencies, getting a loan can also come in handy when you want to fulfill your personal needs. 

With all the financial and technological developments, users can now apply for a loan directly from their smartphones and get money straight into their bank accounts. The approval for these loans takes time, which can be a problem for people who need some emergency funds. Hence, going for a flexible personal loan is the best option in such situations. Flexi personal loans require no collateral, and they can get approved within a few hours. Since there is no collateral, the chances of a loan getting rejected are rare. The interest rates for such loans are high, and hence we won’t recommend borrowing a huge amount. 

Are you looking for methods to quickly get a loan? Here are seven ways that will help you with getting started. 

  1. Borrow some money from your employer

Many companies have an option to lend you money on an emergency basis which can further get deducted from your salary. Therefore it is recommended that you have a conversation with your employer regarding the same and see if you can arrange some funds. Most companies won’t charge you interest for this, and that’ll help you to save up some money as well. 

  1. Try to get a home loan top-up 

This option is limited to the people who have a home loan; however, this can help them to get funds quickly. Home loan top-ups can go up to Rs. 50 Lakhs which is considered an enormous amount and you can lend the money for a maximum of 20 years. It usually takes up to three days for a home loan top-up to get approved, and if you fail to pay an installment, it can cost you a lot of money. 

  1. Probate loans

Probate loans refer to the loans which are given based on your property or real estate that you don’t have access to. These are also known as inheritance loans and what makes them unique is that they are entirely interest-free, making them the cheapest loan option available out there. Before getting a probate loan, make sure you discuss all the details with your lender thoroughly. 

  1. Use your credit card to withdraw money 

If you have a good credit score, then the credit cards you own might have an outstanding credit limit. You can use these credit cards to withdraw money from your nearby ATMs or deposit it in an online wallet and later transfer it to your bank account. Since many banks have a limit for money withdrawals, you might want to use both methods to get funds in your account. 

  1. Try getting a loan against your securities 

Getting a loan against collateral is never a bad idea, and such loans come with the standard interest rates and get approved quickly when you have a good credit history. You can take a loan against your shares, fixed deposits, and mutual funds by using them as collateral. For fixed deposits, most banks offer you up to 75% of the value, whereas when you are taking a loan against your shares and mutual funds, you can get a loan up to 50% of their value. 

  1. Loan against your Car Title

Many people aren’t aware of this, but some lenders offer you loans against your Car Title. This means that you can keep the car throughout your loan is active; however, if you cannot pay the amount back, the lender can use your car and sell it in the market to recover his funds. These loans use your car as collateral and attract standard interest rates. 

  1. Getting a loan against Gold

Gold is also an asset that can help you to get a loan, but it might attract high-interest rates. The usual tenure for the loans given against your gold is 6 to 12 months, and the loan amount you can get is a maximum of up to 25 lakhs. Your eligible value is usually based on 60% of the value of your gold. Loans against your gold typically attract 10-17% interest when taken from banks and 14 to 26% of interest when taken from other financial companies.


There are multiple ways from which a person can get a quick loan; however, one needs to evaluate which loan option is suitable for him after looking at the interest rates, risks and tenure. Once you have a clear idea of your situation, you can choose the right type of loan without any problems and have a better financial planning.


Author bio – 

Tanvi Kaushik specializes in Content Marketing and works with the Digital Team at KreditBee – India’s fastest personal loan platform where self-employed and salaried professionals can easily avail of personal loans in just a few minutes when in need of quick funds. Tanvi writes to-the-point articles on personal finance and budgeting which are truly appreciated by her readers. She is committed to making money matters easy to understand even for the layman. Her commitment to her work doesn’t stop her from pursuing her hobbies of hiking, trekking and going on adventurous trips.