How much time does it take for a loan to get approved?

Time for loan approval depends on type of loan. Secured loans like loan against property, loan against securities get sanctioned fast. Gold loans can get sanctioned in a day’s time or even lesser if you’re borrowing from one of the NBFCs. Vehicle loans can take 2-3 days to get approved. Personal loans are approved in 2 days to a week’s time. Education loan can take 1-2 weeks for being sanctioned. Home loan takes longer since a host of verification formalities are involved.

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