Personal Loan: Your Step Forward to Live Your Dreams

Posted by harish on December 26th, 2018

Personal loans are the ideal choice when you need fund immediately. You can apply for a personal loan for a wedding, debt consolidation, home renovation, home appliances and much more…

Money cannot be compared to love and care of life. It is the basic requirement of daily routine life. When one needs money love cannot fulfill the requirement. It is highly required to live a healthy life.

 There are times when you may find yourself in dire need of money. From managing the medical bills of your loved ones to taking your family on an exotic holiday. From the renovation of your home to managing your wedding expenses, it all costs money. In such circumstances only, money can make both ends meet. 

Are you facing some difficult time in life? If money can solve it, then you can always go for a personal loan to fulfill your immediate cash needs.

Personal loan – To Meet your Quick Monetary Needs!

A personal loan is an unsecured loan type. It is a great boon when you need money without too much of a hassle. It is the most convenient financing type to meet any short-term cash needs. A borrower can repay it over a period of time in pocket-friendly easy EMIs. Also, every financial institution facilitates instant approval and quick disbursal with little or no paperwork.

Here are 5 Times When you can Apply for a Personal Loan –

  1. To purchase electronic appliance – AC, Refrigerator, TV, Washing machine, Microwave etc.
  2. Your marriage, your child’s marriage or marriage of any other family member
  3. To pay off your pending bills, debt, credit card bills or student loan
  4. Your home’s annual renovation, reconstruction or housing remodeling
  5. Even business funding… and the list goes on

How to get a Personal loan Instantly?

Personal Loans are ideally known for their fast processing and instant disbursal.Typically banks and other financial institutes take minimum 7 days on personal loan approval.

If you are thinking to apply you must check your credit score first. A good credit score is one of the primary requirements of the lenders. For instance, In India, a CIBIL score above 750 is considered as decent on which you can easily get a personal loan approved. In addition to your credit score, your Debt-to-Income ratio also plays an important role in determining your overall financial health. Lender generally calculate DTI before sanctioning you loan to asses your loan repayment capacity. Also, lending platforms might monitor your income and expenditure rates to check your credit-worthiness. You must Check Loan Eligibility before applying for a loan.

How to Apply?

A personal loan online is a power to individuals facing any short-fall of the liquid funds. The NBFCs and Peer to Peer lending platforms have made the personal loan application process as easy as Facebook login. In just a few clicks of your mouse, you can make your bank account funded with the desired loan amount.

Steps in Personal loan processing –

  1. Visit the website of an online lending platform
  2. Search for the best loan deals and offers
  3. Provide your documents such as Aadhar, Pan Card and income proofs
  4. E-Signing of documents
  5. Loan disbursal

You can avail an instant loan at any time of the day to make your dreams and wishes come true!

Author Bio:

Faircent is an RBI registered Non-banking financial company – Peer to Peer lending platform. We are India’s leading P2P platform offering personal loan for the wedding, debt consolidation, home appliances and home renovation at competitive interest rates and easy EMI payback option.

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harish

About the Author

harish
Joined: December 26th, 2018
Articles Posted: 2

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