Short Term Loans

Eligibility Criteria for a short-term loan

In order to apply for an Airtel short tenure loan online, you need to fulfil the loan eligibility criteria mentioned below:

• The age of the applicant must be between 21 to 60 (for some cases the upper age can be 65) years.


• The indiviudal should be either salaried or self-employed.


• Minimum monthly income should be more than ₹13,500 or ₹15,000 depending on the lender.

 Advantages of Short Term Loan

Quick Disbursal of Funds: Short term loans typically get approved quickly, providing borrowers with an immediate access to the funds they need.

Temporary Financial Relief: These loans are ideal for taking care of temporary financial gaps or emergencies, offering immediate relief until you get your paycheck.

Minimal Documentation: Compared to long-term loans, short term loans often require less paperwork and documentation for loans, streamlining the application process.

Flexibility: Borrowers have the flexibility to choose the loan amount and repayment period that best suits their needs, allowing for customised financial solutions.

No Long-Term Commitment: Short term loans do not bind borrowers to long-term repayment schedules, allowing them to repay the loan quickly.

Improves Credit Score: Successfully repaying a short term loan on time can positively impact a borrower’s credit score, demonstrating responsible financial behaviour to lenders.

Lower Interest Rates: In some cases, short term loans may have lower interest rates compared to long-term loans, resulting in less overall interest paid over the loan term.

Types of Short Term Loan

Payday Loans: You can get cash advances based on your upcoming pay check/salary and are typically repaid on the borrower’s next payday.

Cash Advances: Similar to payday loans, you get cash advances that offer quick access to cash, often through credit cards or lines of credit, with repayment expected within a short period.

Installment Loans: These loans allow you to repay the loan amount in fixed installments over a short term, typically ranging from a few months to a year.

Lines of Credit: You can access funds up to a predetermined credit limit and repay the borrowed amount with interest over a short period, similar to a credit card.

Invoice Financing: Businesses can obtain short term financing by selling outstanding invoices to a lender at a discount, providing immediate cash flow while waiting for invoice payments.

Merchant Cash Advances: Ideal for businesses, these advances provide a lump sum of cash in exchange for a percentage of future credit card sales, with repayment based on daily or weekly sales volume.

Factors affecting short term loans 

There are several factors that can impact an individual’s eligibility for a short term loan. Here are some of the most common factors:

Credit Score: A good credit score can increase the chances of being approved for a short term loan. We at Airtel, use credit scores to assess a borrower’s creditworthiness and ability to repay the loan.

Income: The lender may consider an individual’s income to determine if they can repay the loan.

Debt-to-income ratio: An individual’s debt-to-income ratio which is the amount of debt owed compared to income earned, to determine if they have the ability to repay the loan is considered.

Loan purpose: The purpose of the loan may also impact eligibility. The lender may require a specific loan purpose, such as for business expenses or education.

Features of short term loan

Convenient: Airtel short tenure loans are accessible through the Airtel Thanks app and mobile browser. This makes it easy and convenient for borrowers to apply for short tenure loans and manage their loans.

Fast disbursal: Airtel short tenure loans are disbursed quickly, often within a few minutes of approval, providing borrowers with the funds they need.

Flexible repayment options: Airtel short tenure loans offer flexible repayment options, allowing borrowers to choose a repayment plan that suits their financial situation.

Competitive interest rates: Airtel short tenure loans offer competitive interest rates, which can be lower than other short term loan options.

Eligibility criteria: Airtel short tenure loans have relatively simple eligibility criteria, which make it easy for borrowers to qualify for the loan.

 Why choose Airtel Personal Loan?

You can choose Airtel Personal Loan for its quick and hassle-free application process, low-interest rates, flexible repayment options, and no hidden charges. With instant approvals, it’s a convenient way to meet your financial needs.