24-Hour Loans: How to Get Funds Within a Day with Easy Ways

May 8, 2025

For Exp. Arjun is a corporate professional and has a 4-year-old daughter. One evening, his child suddenly falls ill and needs immediate medical attention. With hospital bills piling up and no time to spare, Arjun turns to a 24-hour loan. In just a few hours, the money is in his account, and he can focus on getting his child the care they need. The whole process was fast, simple, and hardly required any paperwork.

In this guide, we will show you how you can access quick funds when life throws those unexpected challenges your way.

Table of Contents

What Are 24-Hour Loans?

24-hour loans are unsecured instant loans that one can get for any urgent financial need. They typically have a quick application process with minimal documentation. The loan processing is fast, and the loan gets disbursed within 24 hours. The entire process, from application to disbursal, is 100% online and requires only basic documentation like PAN and Aadhaar, making it convenient and hassle-free.

Benefits of 24-Hour Loans

Whether it is an emergency or an unexpected bill, these loans offer fast and easy access to funds, helping you avoid financial stress.

Quick Approval: 24-hour loans have a quick application process. The loan processing is faster as compared to traditional banks, making them a convenient loan option.
Minimal or No Documentation: Lenders require only basic information along with PAN and Aadhar details. You don’t need to submit extensive paperwork, making it a hassle-free process.
Easy Accessibility: 24-hour loans have a fully digital process that can be completed on their official website or app. Thus, you can apply for the loan from the comfort of your house whenever it suits you.
Fast Disbursal: Once the application gets approved, the loan is instantly disbursed to your account.

Eligibility Criteria for 24-Hour Loans

Eligibility criteria for a 24-hour loan will depend on the lender. The general eligibility criteria for personal loan apps like Zype include:

Age: The individual must be 21 and above.

Minimum Income: They should have a stable income with a minimum income of ₹15,000.

Credit Score: The credit score must be above 700

Documents Required for Quick Loan Approval

Many 24-hour loans require minimal documentation like.

Mandatory: Valid Aadhar card and PAN card details
Proof of Identity: PAN or Aadhar card
Address Proof: Utility bill
Optional: If you need to take a higher loan amount, the lender may ask for income proof or bank statement

Interest Rate and Charges for 24-Hour Loans

The interest rate and charges on a 24-hour loan are based on your credit score, monthly income and repayment history. If you have a high credit score, you are likely to get a loan at a lower interest rate.

If you want to get an instant loan on Zype at a flexible loan tenure with upfront charges, below are the details mentioned.

Fees & Charges	Amount Chargeable
Interest Rate	Starting at 1.5% (monthly)
Loan Processing Charges	Processing fees is between 2% to 6% on every loan
Interest on Overdue EMIs	Penalties and late fees will be charged, on a daily basis, till the time the amount is repaid.

Steps to Apply for a 24-Hour Loan

To get a 24-hour (instant) loan, you can follow these easy steps:

Download the official Zype app from the Google Play Store/Apple App Store
Sign up with your basic details like address, employment details, email address, PAN etc.
Once the loan gets approved, the borrower needs to complete the KYC by completing the Aadhar-linked mobile OTP and real-time selfie verification.
After KYC process completion, choose the loan amount and repayment tenure.

The loan is disbursed in the account within 24 hours.

Tips for Successful 24-Hour Loan Approval

Maintain a Good Credit Score: Lenders always check credit scores to assess creditworthiness. Ensure you fulfil at least the minimum credit score requirement by the lender.
Keep Your Application Details Ready: Have your PAN card, Aadhar card, income proof, and bank statements ready for a quick and easy application.
Choose a Trusted Lender: Opt for a well-known and established bank or NBFC for a quick and transparent online process.
Borrow Only When Needed: Take a loan when you have an urgent or emergency financial requirement. Be a responsible borrower and assess your repayment capacity before taking a loan.
Compare Lenders: Do good research on lenders and their loan features. Choose a lender that best fits your financial requirements.
Avoid Multiple Applications: Applying for too many loans in a short time leads to hard inquiries, which can hurt your credit score and raise red flags.
Maintain a Stable Income: Lenders look for steady employment or income; make sure your financials show stability.

Conclusion

24-hour loans, when used right, can be a smart financial solution for urgent requirements. Whether it’s a health scare, a broken laptop or your fridge deciding to quit on you, a loan buys you time and breathing space. Be a responsible borrower and know what you’re signing up for. Make timely EMI payments and manage your expenses comfortably.

Frequently Asked Questions

What Is The Maximum Amount I Can Borrow With A 24-Hour Loan?

It depends on the type of lender you choose. A bank may offer up to 40 lakhs, while NBFCs and other financial platforms may offer smaller loans up to 10 lakhs.

Are 24-Hour Loans Available For Individuals With Bad Credit?

Yes, 24-hour loans are available for individuals with bad credit. They may need to fulfil other eligibility criteria like a stable income source, income proof and submit PAN and Aadhar card details.

How Can I Ensure My Loan Is Disbursed Within 24 Hours?

To ensure my loan is disbursed within 24 hours, opt for digital lenders that offer quick application & disbursal within 24 hours. Ensure you fulfil the eligibility criteria and maintain a strong credit score to improve your loan approval.

What Are The Interest Rates Associated With 24-Hour Loans?

Interest rates for 24-hour loans in India typically range from 12% to 36% per annum, depending on the lender, your credit score, and income profile. Some short-term loans may have even higher effective rates due to processing fees and shorter tenures.

Can I Apply For A 24-Hour Loan Online?

Yes, you can apply for a 24-hour loan online. Ensure you apply to credible banks and financial platforms. Many reputable banks and digital lenders offer instant personal loans and offer a complete digital process, enabling quick approvals and disbursals.

What Happens If My 24-Hour Loan Application Is Rejected?

If your 24-hour loan application is rejected, it means you did not fulfil the lender eligibility criteria. You can improve your chances by checking your credit report, addressing issues, and applying with other lenders that offer eligibility that fits you best.

Are There Any Hidden Charges In 24-Hour Loans?

While many digital loan apps like Zype are upfront about loan-related charges, others may not be upfront about it. Many 24-hour loans may have hidden processing charges, pre-payment or foreclosure penalties. Check the terms and charges before you take the loan.

How Does A 24-Hour Loan Impact My Credit Score?

A 24-hour loan can, for a short term, dip your credit score, as lenders do a hard inquiry to assess your creditworthiness. Make sure to make timely EMI payments to maintain a good credit score.

Is Collateral Required For A 24-Hour Loan?

No, collateral is not required for 24-hour loans as these loans are usually unsecured. Lenders typically check the credit score, employment status and monthly income to approve a 24-hour loan.

Can I Prepay Or Foreclose My 24-Hour Loan Without Penalties?

Some lenders allow you to prepay or foreclose a 24-hour loan without penalties, while others may charge a prepayment fee. Always check the lender’s terms and conditions before applying.