Originally posted on January 30, 2020 @ 4:52 am
Are you in need of some quick funds to meet many of your needs immediately? If yes, then you are not the only one! As you read this, a majority of needy borrowers are applying for an instant loan such as a personal loan via finance apps of lenders.
An online loan app has now emerged as the most preferred mode to apply for a new loan, access earlier and active details, pay EMIs online, and more.
The biggest advantage of loan apps in India is that it can be used quickly on a borrower’s smartphone. They can download the loan app via Google Play Store and iOS Store. If you wish to know how applying for an emergency loan such as personal loan is suitable for your needs, then you can read this post.
For what Purposes you can use the Instant Loan?
An emergency fund is meant to be disbursed quickly and has minimal formalities as it is an unsecured loan. It is offered on the basis of your creditworthiness such as a higher CIBIL Score, excellent repayment and employment or income record.
You can use the loan amount for a variety of reasons as per your needs. Some of the standard usages of an instant personal loan include:
- For debt consolidation.
- For wedding preparations.
- For home renovations, repairs and improvements.
- For managing the expenses of overseas higher education of your children.
- For going on a world tour or family vacations.
- For managing the costs of an urgent medical emergency.
- For expanding your business.
- For all other personal needs.
What are the Benefits of Availing Emergency Loans?
- Loan amount of up to Rs.25 lakh– A higher loan amount of up to Rs.25 lakh could be used to manage all expenses as per your preferences.
- Loan approval within 5 minutes- It is possible to get the loan approval in 5 minutes flat if you have matched the lender’s eligibility criteria and terms and conditions.
- Money in your bank within 24 hours- After you have the loan approval by a lender, it won’t take much time in getting the loan amount in your bank account. Most of the leading funding institutes can disburse the loan amount within 24 hours.
- Save up to 45% on EMI payment with a flexi loan feature- You can forget about paying the loan EMIs on the entire loan amount even if you use only a portion. You can now make the most of the flexi loan feature by paying only the interest as EMI on the utilized loan amount from the credit limit and nothing else. The rest of the loan money gets settled on loan completion. This way, you can easily save up to 45% on your loan EMI payments.
- Flexible loan tenor- You can also pay smaller EMIs by opting for a loan tenor ranging between 12 months and 60 months.
You can also apply for an urgent loan, access loan details, pay EMI online and do more by using lenders’ finance apps. You can use it to enjoy multiple financial services such as:
- Motioning all active and earlier loan accounts.
- Pay EMI.
- Make prepayments and foreclose the loan accounts.
- Avail pre-approved loan deals.
- Raise a request for varied complaints and queries.
- Rate the loan app and more.
Leading lenders such as Bajaj Finserv offer pre-approved deals on instant personal loans, home loans, business loans, EMI finance, and others. It is to simplify your loan formalities and make it less time-consuming. All that you have to do is share your basic inputs such as your name and mobile number to explore your special pre-approved loan offers today.