Get Rid Of All Your Money Woes With This Personal Loan App

Posted by amrina alshaikh on March 31st, 2021

It is a problem with no easy answers: you are faced with a sudden requirement for a large amount of money. You don’t have the sum, nor do you see any way to raise it at short notice. Read on to know what to do next.

A cash crunch and no options!

There comes a time in every person’s life when they face a cash crunch. It could be the end of the month when an unexpected expense crops up. Or you may have to chip in for a family member’s engagement party. Or your house might require urgent, costly repairs.

Whatever the requirement, you don’t have the necessary funds in your bank account. And you are not too keen on borrowing money from friends – after all, so many relationships sour over money. So how can you meet the immediate expense when there is no option to raise the necessary funds?

But there is one option you can explore…

You have probably forgotten that you can get a personal loan.

• A personal loan is an unsecured loan granted against your income, credit score and good repayment capacity.
• It is a short-term loan that does not require any physical collateral. The documentation is minimal, and the approval process is quite fast.
• You don’t need to provide a reason for seeking the loan, and the lending institution will not ask you for one. Apart from banks, there are several leading personal loan apps fronting reputed Indian NBFCs that offer these instant loans online.

It’s a personal loan app to the rescue

The best personal loan apps in India offer end-to-end secure, fast and reliable instant loans to eligible applicants. In fact, the chances of getting a loan approval from such an app are much higher than if you were to approach a bank with your loan request. This is because the app uses its own AI-backed algorithms to arrive at your credit score – this is a far more intuitive and humane approach to lending, rather than checking just the CIBIL score (which banks do).

• Download the loan app from the Google Play Store and set it up in a few short steps.
• Read up all the information provided about the instant loans, the documents required, how the credit score is calculated, your eligibility for the loan, etc.
• Upload all the required documents on your smartphone and fill out the application. Take a selfie (this is your photo ID) and submit the lot as instructed.
• The app takes a little while to check the documents and other information. It then notifies you of the loan approval.
• The loan money is disbursed to your savings account in minutes.
• You can repay the loan in EMIs on the app’s bank account.

Conclusion

When all else fails, a personal loan app doesn’t fail you. Whatever the nature of your financial emergency, a personal loan is the quickest solution to the problem.