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Advantages Of Using Instant Loan Apps

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Until a few years ago, people had to visit a bank or financial institution multiple times to obtain a loan. But ever since we stepped into the digital age, things have become a lot easier. Now, we can apply for a loan with just a touch of a button and avail all the services. Considering the growing credit demand, many lenders have introduced instant loan apps that offer loans right through your phone. 

One such quick loan app featuring among the best is the Bajaj Finserv App, which is built to suit the financial needs of different segments. The instant loan apps offers easy loans once you have met the required eligibility criteria. It can save you time with its quick loan processing. 

Here are the top advantages of using instant loan apps such as Bajaj Finserv App:

  • EMI Calculations- When you apply for a loan online via an app, you can fill in your basic details such as income level and desired loan amount. to get a personalised loan quote. The EMI calculators let you calculate your monthly EMIs and help make an informed decision.
  • Lower Interest Rates- When it comes to loans through apps, there are no middlemen. The banks or financial institutions do not have any commissions to pay to their agents. This benefit ultimately gets passed on to borrowers through attractive interest rates as compared to traditional loans. 
  • Minimal Documentation- The advantage of using instant loan apps is that you can simply upload basic and minimal documents on the online platform and save yourself from cumbersome paperwork. Typically, an online loan app requires your identity proof, address proof, and proof of employment.
  • Privacy- Instant loan apps ensure your confidential information stays protected by securing it with encryption mechanisms. Any possible data leaks are taken care of with strong passwords and in-app permissions that ensure you share only necessary information and nothing more.
  • 24*7 Availability- Banks are closed on weekends, whereas online loan apps are available round-the-clock. This means you can make transactions whenever you want them while being on the move. You can check your loan balances, statement of accounts, and do so much more at the same place.
  • Faster Processing- As compared to traditional loans, instant loans taken through apps take lesser time to process. All you have to do is fill your details online that takes 15 to 20 minutes approximately. Once your loan application gets approved, the money can be disbursed into your account on the same day. 
  • Easy Repayment Options- With an instant loan app, you get easy repayment options, including the option of automated EMI debits. In addition, the app can also send you notifications and reminders to help you keep a track on the due dates.
  • Small Cash Loans- Instant loan apps offer small cash loans starting from Rs.10,000 to Rs.2,00,000 depending on your eligibility. Once you have uploaded the basic documents on the app and it gets approved, the loan application gets processed quickly. You can get the money credited in your account within a few hours, which can prove to be beneficial in cases of financial emergencies. 

Download an online loan app to apply for a personal loan and cope with financial emergencies ranging from credit card bills to home renovations.

To simplify the process of availing loans and save your valuable time, Bajaj Finserv has various pre-approved offers on personal loan, home loan, business loan and a host of other financial products. Just click on the link and provide some basic details to check out your pre-approved offer.

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I am an international Digital Marketing SEO and content expert, helping brands and publishers grow through search engines. I am Outbrain's former SEO and Content Director and previously worked in the gaming, B2C and B2B industries for more than a decade.
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