Advance Salary Loan makes it Simple for You

Posted by Trishya Sharma on October 31st, 2019

Every salaried employee, freelancer, or self-employed person faces a cash crunch at some point in their career. With sky-rocketing costs of commodities and essential supplies, it is difficult to manage expenses till the end of the month. Especially professionals who have to work in a city different than their permanent resident, they need to pay additional rent and have multiple facets to take care of in addition to expenses related to personal lifestyle choices.

There are many such situation wherein you need loan for short term – and hence, one may choose to take a help from family or friends or go a different route to acquire a personal loan from the bank. This loan is often a long-term loan with unfriendly customer terms – like you cannot take loan of 3 or 6 months. So, how to handle a situation like this?

Advance salary loans are simple unsecured loans acquired for a shorter duration. You can pay the amount back in fixed instalments from your salary in shorter duration. The credit assessment process is faster and hence, disbursal. In addition, application procedure is hassle-free, online and is specially offered by digital NBFCs or lenders.

Let’s see how advance salary loans can help you manage your expenses instantly. Read more to know what’s the difference in a personal loan and advance salary loan.

1. Medical Expenses:

If you have a lot of medical expenses due to some emergency or health condition, advance salary loan can help you clear the dues instantly. You can repay the loan amount in EMI or whenever you have the money in the next 3 to 12 months.

2. Home/Car Repair:

There are times when you have to do emergency home repair, an advance salary loan can instantly offer help. For example, if you have recently discovered extensive termite damage, leaking roof, or damage to the car that insurance does not cover. When you don’t have enough funds to complete this repair, you can take Advance Salary Loan for the short-term tenure.

3. Promotion Party:

Want to celebrate with colleagues and friends your new promotion? But no monies? Why swipe credit card and worry about paying within 35-50 days. Apply online for the short-term personal loan and prepay as soon as within 3 months! You can also choose the longest pay cycle and save some amount every month without hampering your cash flow.

4. Expensive Commodities

How long to wait for our wish-lists as there’s no end to it but what one can do is to budget the desired expense in the salary expense and pay EMIs from next 3-6 month’s salary. Sometimes, we know we need to save first to buy an expensive product such as an expensive wrist watch or the car accessory that we are eyeing for long.

In situations like these, you can take an advance salary loan to meet your instant money requirements.

Conclusion

It is not possible to keep exhausting your credit cards for every financial emergency and it is also not possible to reach out to family/friends every time you need additional funds. Advance salary loans can eliminate these issues and help you acquire funds instantly. With minimum paperwork and reliable terms of the loan, you can rely on credit Product for all your emergency financial needs.