What is 10 sec Instant Loan
The term “10 sec Instant Loan” typically refers to an ultra-fast loan approval process offered by some banks or financial institutions, where a loan application can be approved in as little as 10 seconds.
These loans are often characterized by the following features:
- Speedy Approval and Disbursal: The primary feature is the rapid processing time, with approvals happening almost instantly.
- Online Process: The entire process, from application to approval, is usually conducted online or through a mobile app, ensuring convenience and speed.
- Pre-Approval: Customers are often pre-selected based on their credit history, income, and relationship with the bank. This pre-approval is what allows for the quick processing time.
- Minimal Documentation: Since these loans are typically offered to existing customers, the bank already has most of the necessary information, reducing the need for additional documentation.