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  • Sunday, December, 2020| Today's Market | Current Time: 04:32:42
  • Everyone talks about being busy these days but no one talks about how to still get things done while being pressed for time. Either you are putting off your Bhutan trip or are passing on that IKEA wardrobe you have had your eyes on. The problem persists across the board and in most cases is tied to some kind of cash crunch. Something that you haven’t figured a way out of because borrowing money still seems like a Herculean task. The reality of loans in India, however, isn’t so resigned.

    Personal loans are now easier to procure than they were a few years ago. And taking a loan is one of the easiest and quickest ways to solve a money crisis. It is also an instrument that gives you an advantage in all aspects in the loan ecosystem. Let’s find out how.

    Quickest Way to Procure a Personal Loan

    Instant personal loans are now a thing where you can borrow a stipulated amount from a financial concern in no time. In some cases, you can get a personal loan passed in less than the time it takes to carry out a transaction on Flipkart.

    Thanks to the advent of finance startups and non-banking companies arriving in India, lending has evolved to a great extent. One of the most popular features that simplifies the whole process of procuring a personal loan is the ability to do it online or through a mobile app. You don’t need to fill long forms or attach tens of documents. Just a small set of requisite personal documents and the amount gets credited into your bank account.

    Non-banking financial companies (NBFC) have also launched special apps that you can use to request instant personal loans. The upside of such lending instruments is that they are simpler and more convenient than the traditional ones. Anyone can use such apps to avail a personal loan in India as compared to the restrictive eligibility criteria that needs to be followed in other cases.

    The Rise of Instant Personal Loan Apps 

    Despite the slowdown of the economy, customer lending is still on the rise. What has facilitated, or may be encouraged it, is the rise of personal loan apps provided by NBFCs. Today, one can download a free instant personal loan app from the Internet and request a loan in a matter of minutes. This efficiency, the added convenience, and the zero eligibility criteria are some of the attractive features on such quick personal loan provisions.

    When you compare it with the traditional method where you pay a visit to a bank branch and start the overlong process of borrowing, instant personal loan has a clear upper edge. Some of its top features are:

    • Minimum or no documentation
    • Instant loan disbursal
    • Anyone with a valid ID can request

    Such instant personal loan apps have quickly gained attraction among the masses as this testimonial from a professional from Gurgaon will prove. “I used Indiabulls Dhani for my instant personal loan when we had a medical emergency. Since the medical insurance was limited, I had to borrow urgently. Without access to the usual documents and being low on time, I used the Dhani app to quickly apply for a loan. It was post evening,” remembers Punit. “The good thing is that a loan of 50,000 rupees was instantly credited into my account in a matter of few minutes. It really saved me from financial trouble.”

    It will be wise to assume that there is no comparison between an instant personal loan and the traditional borrowing methods. When you are pressed for time and want a quick transfer of money, such modern tools make more sense. It not only allows you for a quick transfer of funds but also saves you the trouble of having to visit a physical bank branch.

    Don’t be at the receiving end of countless document requests by your loan agent. Explore the possibilities of an instant personal loan app today.