Instant Loan App Factors that You must Know Before opt for Personal Loan
Personal loans are unsecured loans that do not require you to pledge collateral as security. They can be used to address economic needs or fund significant investments.
Be it to repay debts, get your house renovated or sponsor your holidays, look at a personal loan to fulfil these requirements. With advancements in technology, loan processes can be done online and at a faster pace. With a growing number of efficient personal loan apps, customers can now apply for a loan from the comfort of their homes.
This article lists down some instant loan app factors to know before opting for a personal loan.
- Convenience- As mentioned above, you can apply for a personal loan by downloading a loan app. All you need is to fill your details accurately and check if you qualify for a loan. Once the lending institution verifies your details, you may receive a confirmation message.
Saves time- A loan app is like a bank inside your pocket. You can initiate payments or make deposits while on the move. It also allows you to get in touch with a customer care representative in case of any queries. Besides, loan apps work 24*7, even on weekends, holidays, and after bank-hours.
Easier access- Loan apps provide easy access to critical information and support. Once you install the app, you can instantly discover if you qualify for a loan. You can also obtain precise details related to loan requirements including payment terms and banking history. In a traditional setup, professional services would be called to explain the eligibility and other requirements for a loan.
Added security- All leading banks and financial institutions utilise cutting-edge encryption technologies to ensure the safety of information. Loan apps are built to keep your personal data confidential and 100% secure. However, it is a safe practice to change your password regularly as a precautionary measure.
Keep track of your transactions- Mobile loan apps have an easy-to-use and responsive interface. This provides a hassle-free experience and allows you to keep track of your transactions conveniently. You can download comprehensive account statements or view payments and deposits made into the account. With a loan app, you can get a real-time view of your personal finances.
Receive notifications- With loan apps, tracking is easier as you get notifications on your mobile for the entire tenure. It can track due dates and send reminders to ensure you never miss a deadline. It can also inform you of any ongoing schemes or discounts on personalised loan offers via notifications.
- Pre-approved offers- Pre-approved offers on personal loans are a boon and you may want to check on the proposals for your loan. In a traditional loan setup, this would require talking to a representative of lending institution. But with a loan app, you can know all about the offers at the mere touch of a button.
If you require financial assistance, you can avail a personal loan from Bajaj Finserv. It involves minimal paperwork and has low interest rates. Loan amounts can go up to Rs. 25 lakhs and offer a flexible repayment tenure between 12 to 60 months. You can get the money credited in your account within 24 hours of loan’s approval.
You can download the Bajaj Finserv app to obtain a personal loan and meet your financial emergencies. The online loan app offered by Bajaj Finserv is one of the best loan apps in India as it is effortless to use.
In addition, you can check out other pre-approved offers on personal loans, business loans, home loans, and a host of other financial products. These offers not just make the loan processing simpler but also help you save on time. You can check out your pre-approved offer by sharing some necessary information.
Hi, I am Anjali Singh, a professional Financial Analyst. I have done MBA in Finance and worked in many finance organizations. I have worked on top financing firms for the past 6 years. Recently I am working as a financial consultant and writes on various blogs related to loans & finance.