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Laxmanrao123 (2)

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RapidRupee is a fintech company focused on online consumer financing, one of the first to offer online loans in India. – PowerPoint PPT presentation

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Title: Laxmanrao123 (2)


1
Everything you need to know about the instant
loan process.
2
  • Every once in a while we get caught up with extra
    finances that we arent able to cover. In times
    like this, making use of the online instant loan
    service that can pay for smaller needs becomes
    very beneficial. Also now, banks and NBFCs have
    made access to getting instant loans convenient
    with their freely available mobile application.
    It has become among the preferred loan service in
    recent times. Its easy-to-access feature and the
    quick loan processing are just a few of the
    astonishing qualities of instant loan apps.

3
  • There are still a few who do not choose this
    service either due to past myths of inefficiency
    and long processes or find themselves in doubt
    regarding the loan process. More specifically,
    the payment and disbursement process is known to
    have raised confusions. The following article
    will address the application, disbursement and
    repayment process

4
Application process
5
  • After downloading the application and signing up,
    the user must read through the policy and terms.
    Within the app, the loan provider mentions in
    detail the interest rates and other EMI details.
    The user must take their time to understand these
    terms to avoid troubles with the later
    transactions. Submitting the right documentation
    for verification is among the most important. In
    case your loan has been rejected, you can always
    reapply after the waiting period set by the loan
    provider.

6
Disbursement process
7
  • Instant loan apps are known for their quick
    approval facility. Usually, the loan provider
    sanctions the loan application within 20 minutes.
    With the easy application process and the quick
    approval, loan providers have also made the
    disburse process as fast as 2 hours. So now, the
    user does not have to wait for days or weeks
    together, instead, just get the settled amount
    transfer to the respective account.
  • When the loan deposit is made in the users bank
    account, the app automatically clears the
    approval fee. Now, the user can clear their other
    finances with the instant loan taken.

8
Repayment process
9
  • For the repayment process, the user can choose
    their desired medium. Different instant loan apps
    have their systems for fund transfer. One can
    also choose if they wish to have an automated
    payment process for repayment. The app
    automatically pays the EMI from the users
    account and then notifies the user of the
    transaction.

10
  • If there is a problem during the repayment
    process, the instant loan service is known to be
    flexible with their repayment process. The user
    can opt for an extension if needed. Depending on
    the defaulting payments, the service provider
    includes the fee to the final payment. Paying all
    installments on time will play in favor of the
    user making the loan process easier.

11
  • When a person opts for an instant loan, it
    reflects on their credit score. Borrowers who pay
    on time and apply for these loans are known to
    have a good credit score. To have the best of
    instant loans, understanding the loan becomes
    fundamental. Hope article helped you understand
    the loan process!

12
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