Financial emergencies can strike you at any time. In such situations availing a Personal Loan can be a viable option for multiple reasons. Firstly, it is an unsecured assistance i.e is you do not need any collateral to avail this loan. As there is not security taken against Personal Loan, its rate of interest is generally high but manageable. Also, it is readily available through lenders post easy verification. But applying for it through a bank can really be tedious given to lengthy process, stringent criteria for eligibility etc.
Thankfully, there is a wide range of instant Personal Loan apps that have made the process of availing funds simpler and faster than the traditional banks. In today’s fast-moving world, rarely you may have time to follow up with banks, wait for the verifications etc. Instant loan apps have made it very easy for individuals to apply for Personal Loan by providing a single platform that caters to almost all the needs of their customers.
Below are the pros of applying for Personal Loan online using instant loan apps –
1) Simplified Process
Personal loan apps have a much simpler process of applying for a loan than traditional banks. You can avail funds only in a few easy steps. The online loan apps completely eliminate the trouble of that you may go through in banks – long queues, endless wait, stringent eligibility check, heaps of documents etc. With loan apps, there is no hassle at all. The entire process is digitized which makes funds available for only in few clicks.
2) Round the clock availability
Banks are not open for you always. An instant personal loan app will always be on your phone 24 x 7, 365 days. You can easily access your loan account information anytime, anywhere you want.
Read Also – Important Questions to Ask Before Applying for instant servis mobilnih telefona novi sad Personal Loan
3) Online management of account
You can check your loan application status, pay EMIs, monitor your transactions and much more. An app is much more convenient and hassle-free. You can view your transactions, statements, know your outstanding dues and much more through the apps. Lenders like Bajaj Finserv Personal Loan app offer easy online management of loan related necessities.
4) High funding amount
Different instant loan apps have different limit of amount pre-defined up to which they approve loans to individuals. Some apps lend lower amount of funds like Early Salary, Money Tap which lend up to 5 lakh & Kissht which only lends up to 1 lakh. There are big lender apps like Bajaj Finserv Personal Loan app, or Tata Capital which can provide you with financial assistance up to 25 lakhs. Upon fulfilling the eligibility criteria, you can instantly avail the desired amount & get it disbursed in your account in not time. However, doing such a financial transaction might be a bit risky. So, you can use a VPN, like Hola VPN while doing the same. And the best thing is that through the latest Hola VPN Coupon Code, you can get it at very low prices.
5) No need of collaterals
Instant Personal Loan apps have a very big benefit i.e they do not ask for collaterals against the amount they lend. That is also one of the reasons why their interest rates are high. However, not having to pledge a collateral makes it easier applicants to avail funds in times of emergency.
6) Multiple ways of usage
Personal Loan is free from end-use restriction i.e you can use this loan amount for any purpose you want like Travel, Education, Marriage, Home renovation, Health emergency etc. The ability to use this loan for numerous purposes makes it convenient for the borrower to utilize the funds however she/he deems it fit.