5 Ways to Use Online Personal loan

Online Personal loan

As we have just come out of a pandemic, most of us must be battling with financial stress. Here in such a case opting for an instant personal loan can assist you in dealing with problems like these right away. Placing an application for a personal loan is a hassle-free and stress-free way of taking care of your instant financial requirements, particularly in the middle, during and after a pandemic. 

Let’s have a look at a few of the various ways of using personal loans wisely if you ever witness any other wave of the pandemic in the future.

Paying hefty hospital dues 

When any pandemic strikes or is ongoing, you generally have no idea about what will come knocking at your door. In most cases, it is beyond your control to let go of huge hospital expenses that could burn a massive hole in your pocket. Medical exigencies like the current pandemic can be extremely frightening as they come with various responsibilities for which you are usually unprepared. Here in such a case, you can opt for an instant personal loan from loan apps like Kreditbee, MoneyView, Cashe, Nira, etc. 

Renovate your old house

It is a great feeling to get your old home renovated. Availing of a personal loan in times of pandemic for home amelioration is a good route as many of you work from home and get the opportunity to effectively renovate your home. An instant personal loan can assist you in paying for your home amelioration project, whether you are looking to change your furniture or upgrade to another piece of furniture. With an instant personal loan, you get the choice to make your house appear more exquisite and attractive or simple and more functional. You can go for both options; it is totally up to you how you want to renovate your home. 

Pay the higher education studies fees.

Managing the cost of higher education, like stationary expenditures, tuition fees, examination fees, etc., amidst the pandemic may be an extremely challenging task for you. A personal loan may assist you in paying for the online semester studies cost or other education-linked expenditures if you are occasionally short of funds. 

Professionals, whether self-employed or salaried, can even place an application for an instant personal loan to finance certifications, higher education, or short-term professional studies. 

To compensate for the delayed payments or the pay cuts 

The pandemic has had a considerable impact on the corporate sector, which has resulted in payment delays and job losses. It is tough to face such scenarios, and it simply adds to your anxiety and stress. A personal loan can help you by lowering your financial burden, which enables you to face the scenario with ease.

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Finance your corporate needs

Business owners can even benefit from the instant loan. It is adaptable, and you aren’t restricted in how you utilize your funds. Companies need a steady cash supply, and a personal loan can be utilized to cover all your business requirements, whether you want to expand, start up, mitigate the different expenditures, or put up a perfect infrastructure in place. Also, personal loans can be utilized by self-employed individuals for personal or business needs. 

Advantages of availing of instant personal loan – 

Affordable high loan value – Receive instant loan approvals on a high-value loan of as high as Rs 20 lakh without any restriction on funds usage. 

Hassle-free processing and disbursement – Go for an instant loan with a hassle-free and stress-free disbursal process. Meet your eligibility criteria and furnish all the required documents to avail of instant loan approvals and expect instant fund disbursal in a few hours. 

Paperless documentation procedure – The procedure to apply for personal loan disbursal is easy and quick. You can simply apply for an online instant loan from any of the digital apps and receive instant approvals. 

Flexible loan tenure – You can simply repay the online loan proceeds in flexible loan EMIs according to your repayment tenure and convenience, which ranges anywhere between 1 and 5 years. Few online lenders even allow you to opt for higher repayment tenure of up to 7 years.

Minimal documentation – To begin with your instant loan application, you just require submitting two major documents – your address and identity proof. Most lenders may not ask for your income document if your credit score is on the upper side, i.e., 750 and above. In case it is not, then you may still get the loan approval at a higher interest rate. 

Zero collateral – You do not require offering any security or guarantor to get yourself a personal loan from most digital lenders. 

Zero hidden fees and charges – All the new-age digital lenders usually try to make the process easy and transparent. Thus, you will not require being concerned about your hidden fees and charges. 

Low EMI proceeds – You can get an instant loan of up to Rs 20 lakh. However, the loan proceeds provided by you depend upon various factors and are one of the major factors in your repayment capacity. You can simply convert the availed loan into a simple and easy EMI.

Kreditbee and other digital lenders like Home Credit, Money View, etc., come with a personal loan that ensures instant approval, quick loan proceeds disbursal and zero security or collateral requirement. The process of such digital lenders is quick, safe, and seamless and what is more? You can avail of a personal loan from the comfort of your home.  

Eligibility parameter for an online personal loan

The eligibility parameter to get an instant personal loan are as follows – 

Age – 21 – 60 years

Source of income – salaried, self-employed or pensioner

Status of bank account – active

Required documents – address and identity proof

What are the important steps to place an application for an instant personal loan?

Opting for a personal loan is possible in just 3 easy steps – 

       Input your mobile number and follow the mentioned steps to review your loan eligibility and apply.

       If you find a pre-approved personal loan offer, accept it. 

       Get your loan proceeds processed and disbursed within hours of signing the loan agreement. 

Getting a personal loan quickly is now easy as there are many digital apps that ensure instant access to finances with zero security or collateral requirement. 

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About the Author: John Watson

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