Personal Loan: An ideal financial solution to meet your cash crunch

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Personal Loan An ideal financial solution to
meet your cash crunch
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'Your salary XXXX is credited to your bank
account', is one of the best messages in your
inbox. It would instantly set your mood for a
minute. You will spend the next few days shopping
around, pay EMIs on existing debts such as car
loan, home loan, and meet other expenses as well.
However, suddenly in the middle of the month,
you realize that you have spent a major chunk of
your salary and there comes an unexpected
financial emergency such as pay for your
sibling's college fee or dad's medical bill. You
will try to find out ways to borrow money from
relatives or friends, however, every time its
not possible. Thus, one of the perfect solutions
for you is to avail the short-term personal
loan. A lot of fintech companies and credit
unions offer short-term personal loans to
salaried individuals, who are in dire needs of
finances during the mid-month.
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You can borrow as little as Rs 10,000 and can go
up to Rs 2 lakhs at a time. e-lenders sanction
loan based on your income source, company
profile, and credit score. These loans are
sanctioned in just 2-3 minutes and disbursed
within 1-2 working days. Fintech
companies have introduced instant personal loan
apps which are accessible on your smartphone
devices. To avail personal loan, you can download
the app of any of the reputed finance company,
log in through your Facebook or Gmail account,
key in few details and upload your particulars.
Lenders will do instant maths and would tell you
how much cash they can lend you after looking at
your particulars and the Social worth Score.
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Once you e-sign the copy, an executive will be at
your doorstep to pick the documents. The lenders
will start processing your request and the money
would be directly credited to your wallet or bank
account. You can then spend your money as per
your convenience. With money in your e-wallets
you can shop at big bazaar, Amazon for apparels,
grocery, electronics with zero costs EMIs. You
can sign up for these instant personal loan apps
and pay for your child's school fees in easy EMIs
as well.
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Here are 4 important reasons to borrow money from
instant personal loan apps Quick sanction
easy borrowing The borrowing process for these
short-term cash loan is quite simple, and lenders
sanction your loan in a mere couple of minutes.
All you have to do is download the app, enter
basic details, choose an amount and hit the
SUBMIT button. In a couple of minutes, lenders
would evaluate your request and offer you a loan
with particular interest rates. With just a few
more clicks, the money would be credited to your
bank account. Low-Interest Rates Compared to
conventional loan lenders and peer players, these
fintech companies offer personal loans interest
rates as low as 10 to 15 and mere processing
fee on it. You can download the app, fill up
eligibility form and know the interest rates the
lenders are willing to offer the borrowers. Your
regular flow of income and stability will also
play an important role to pick the personal loan
interest rates by the lenders.
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Easy repayment solution Since its a kind of
salary advance, e-lenders will offer you flexible
tenure of 30-90 days for loan repayments. You can
choose your repayment term and mode of repayment
that will suit your needs and prove lighter on
your wallets. This is a major reason, why short
term loans are gaining popularity amongst
salaried individuals. It's convenient and let
them choose flexible EMI solutions. No
Collaterals Another great advantage is that you
don't have to pledge any collateral for
short-term personal loans. If you visit a
traditional lender or bank, they would ask to
pledge collateral in the form of jewelry,
property or investment papers, gold, etc. It
brings an added burden and distracts your mental
peace as well. Thus, you can borrow without
putting any asset at your risks.
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To learn more about

• Quick loans
• Quick loan app

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