Personal loans are ideal to fund all financial emergencies owing to their several features, such as –
- Substantial loan amount of up to Rs.25 lakh.
- Prolonged tenor ranging up to 60 months.
- Instant approval and faster disbursal within 24 hours.
However, online or offline application can require a bit of time before your loan amount is disbursed. To apply online, you are required to visit the official website of your lender and fill out an application form with required details such as name, phone number, annual income, date of birth, residential address, etc. After the approval of your application, you are required to wait for a representative of your lender to get in touch with you and visit you to take the required documents. Following the verification of your documents, your loan amount will be disbursed and credited to your account directly.
Alternatively, the application process can be eased with the help of instant loan apps. In case you are wondering why you should choose a loan app, discussed below are some of the reasons why loan apps are preferred.
These apps are user-friendly and can be accessed on your smart devices from anywhere at any time. The process to apply for advances or credit cards is convenient with an online loan app by submitting an application form.
To fill the application form, share minimal details and upload the required documents online, such as Aadhaar card, PAN card, and Voter ID, to enjoy instant approval and quick disbursal directly to your account.
- EMI calculation
You can estimate your EMIs on the instant loan app using an EMI calculator. Alter the loan tenor and amount to find out the EMI you will be comfortable with and apply for a credit accordingly.
- Easy download and registration
The app can be downloaded conveniently on Google Play Store or iOS Store. After the loan app is downloaded, you are required to register yourself using your name and phone number. An OTP will be forwarded to the provided mobile number. Entering the OTP will complete the registration process.
After you have successfully registered, you can explore all the financial products offered by your financial company and apply for the one you require. Along with easy download and registration process, such apps also offer you with other benefits.
Consider apps like Bajaj Finserv Experia. With this app you can track your transaction, gather details on your previous loans, raise a request, apply for advances, and lodge complaints.
Consider using instant loans app to make payments towards the EMIs of your loan. With the app, you can make use of various online payment methods such as debit or credit card, UPI, mobile wallets, and net banking to pay your EMIs.
Besides, use the notification facility to get notified when the repayment date is approaching to never miss out on a repayment date.
- Faster application
Since the application process is completely online, you get to enjoy a convenient application process as discussed above. You will have to upload minimal documents, which reduces the hassle of paperwork and makes the process much faster.
In addition to the above, online loan app also allows you to prepay or foreclose your loan after paying a minimal fee. Also, you can check the details of your existing loans, previous loans, outstanding due, etc. on the app with convenience.
Furthermore, as such apps eradicates the requirement for hefty paperwork, the chances of misplacing your documents is negligible, owing to which, these apps are by far the safest option to go for while you wish to avail advances.
With the Bajaj Finserv Experia app, you can also view pre-approved offers provided by this NBFC. These pre-approved offers simplify the process of availing financing and reduce the time required for the same. Pre-approved offers are available on several financial products such as home loans, business loans, personal loans, etc. You can take a look at your pre-approved offer by providing only a few details like your name and contact number.