Instant Personal Loan Online in India

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Instant Personal Loan Online in India

• LenDenClub

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What is instant personal loan?
As the name instant personal loan implies, it is
a kind of unsecured loan that a consumer takes
out for many personal reasons. Personal loan are
unlike home loans where you need to keep your
home as security. Consumers take personal loan
for purposes like home renovation, appliance
purchases, credit card repayment, medical
emergency etc.
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5 questions to ask yourself before applying for
Instant Personal Loan
1. Is getting a Personal Loan the most viable
option?
It is advisable to have a clear purpose before
you start looking out for an instant personal
loan. The purpose could be anything from medical
emergencies to taking a vacation. What you must
evaluate is that will this loan really serve your
purpose.
2. Am I Financially Sound to Bear the Burden of
Additional Loan?
If you are already paying installments of an
existing loan and have sought a personal loan to
meet an exigency, would you be able to shell out
sufficient money in coming days to pay off both
installments? If a sudden whim or something that
has caught your fancy is motivating you to apply
for personal loan, check your repayment
capability conscientiously before proceeding.
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5 questions to ask yourself before applying for
Instant Personal Loan
3. Am I Comfortable Paying the High
Administrative and Processing Fees?
For instant loans, your only concern should not
be interest rates payable. Often the loan
administration charge and processing fee can be
significant. If you have no issues in paying
these additional charges on the personal loan,
you are ready to apply. If not, you must compare
various financial bodies offering instant loans.
4. Am I Prepared to Disclose My Personal
Financial Status to Third Party?
You have heard that instant loans are processed
within a day. This is true for those who have a
stellar credit rating. The disbursement company
would seek your credit information out from
reputed bureaus once you provide the PAN details.
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5 questions to ask yourself before applying for
Instant Personal Loan
5. Is My Social Media Footprint Satisfactory?
Some of the P2P sites may take into consideration
your behavior on social media to gauge
eligibility for a loan. You need to check if the
material posted by you on social media or your
interactions with other members on these
platforms are satisfactory before applying for
the loan.
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Thank You!
If you are looking for Personal loans due to
financial needs, then apply for instant personal
loan through P2P platforms.
For more details visit our website
https//www.lendenclub.com/borrowing