The last quarter of 2018 saw a 31% growth in the unsecured lending instrument category such as personal loans, credit cards and others. More and more Indians are turning to personal loans to fuel their aspirations, be it for a dream wedding, travelling abroad or a medical emergency.
Urbanization, rapid digitisation, rise of e-commerce as well as access to lending in retail sector has made availing an instant personal loan easier and more convenient than ever before. Have you ever wondered what makes disbursal of personal loans so easy and quick that your cash crunch can be funded in a matter of minutes? Let us take a look
- Zero collateral: When you take a secured loan, you need to evaluate the asset that will act as collateral. This could range from property, vehicles, fixed deposits, shares or other valuables. The loan amount would be dependent on the value of the collateral. If you default on the loan, chances are that your collateral might be seized once and for all. However, an instant personal loan does not require any assessment of collateral and hence saves time in the process.
- Apply online: You can complete the entire application process of procuring a loan from the comfort of your home or office. No need to stand in long queues. No need to sift through reams of paperwork. From finding out whether you are eligible for a loan to computing your equated monthly installment (EMI), everything can easily be done online. A personal loan EMI calculator can always come to your rescue. Enter the loan amount you wish to take, the current rate of interest offered and the duration of the loan to know how much you would need to pay per month. Isn’t this more efficient, quick, simple and less time-consuming?
- Less documentation: Once you are certain of your eligibility for the loan application and have zeroed upon your monthly outgo using the personal loan EMI calculator, it is time to submit necessary documents for verification. A proof of identity such as Aadhar card, passport or driving license, your PAN card and an account statement of your bank account for the previous 3 months is all that is required. What’s more, you simply need to upload the scanned copies of these online after you fill the loan application form with your personal and employment details.
- Faster approval process: The approval time for personal loans keeps shrinking! A Bajaj Finserv personal loan on Finserv MARKETS takes all of 3 minutes to get approved, once all relevant documentation has been submitted. The entire process is made transparent and extremely straight forward. Thus, with a faster approval process, you can avail personal quicker than ever before.
- Disbursal in a jiffy: The most important reason why an instant personal loan is termed so, is because the disbursal of funds is done just as soon your loan application is approved. The amount you requested from the bank or financial institution is sanctioned within a matter of minutes and is disbursed in your bank account just as quickly. Personal loans available online are credited into your bank account within 24 hours. Such swift approval can help you tend to a financial emergency with ease and take off any financial pressure.
You can avail an instant personal loan online to finance your child’s higher education abroad, refurbish and repair your existing home, go for a European holiday or even to fund your daughter’s wedding. Know how much you can easily repay without burning a hole in your pocket using personal loan EMI calculator available online.
Avail a customized instant personal loan upto ₹25 lakhs with an option for flexible repayments as per your comfort, ranging from 12 months to 5 years. The entire process, right from application to approval, is seamless and completely transparent. Thus, you can avail a personal loan on Finserv MARKETS in a convenient, hassle-free and speedy manner.