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  • Tuesday, September, 2023| Today's Market | Current Time: 07:07:39
  •  Introduction:

    We all have been in situations where we’re short on funds and something urgent has come up. It can be a medical emergency, a sudden loss of a job or something as trivial as losing our wallets.

    In such emergencies, you would not have time for the long procedures that collateral-based loans have. But there are unsecured loans to save the day.

    3 Ways to get Instant credit online:

    Following are the instant online loans available as per your financial requirement:

    Personal Loan of up to 4 lacs

    Personal loans fall under the category of unsecured loans since you are not required to put up property as security. Your account is credited with the lump sum loan amount as soon as the lender accepts your loan application.

    These personal loans have high-interest rates since there is no collateral; instead, the interest rates are determined by factors such as your income, credit scores, and credit record.

    In order to assess your creditworthiness while considering approving your personal loan, the lender inspects your credit report. This is called a Credit check. On the other hand, having several credit checks might harm your credit rating.


    • Lump sum: Personal loans provide you with one lump sum payment, so you don’t have to worry about approaching your credit limit. This one-time sum of money is easily accessible to fulfil your financial requirements.
    • Fixed interest: Personal loans have fixed interest rates, so you don’t have to worry about the balance accumulating interest. 
    • No collateral requirement: Since personal loans are unsecured, there is no need for collateral. All you need to prove that you are financially responsible is a high credit score and strong credit history.


    • Loan fees and penalties: A few additional fees, such as origination fees, application fees, and prepayment fees, come with personal loans. You will also pay penalties if you fail to make a payment.
    • Higher interest rates: Since no collateral is reserved, the interest rates on personal loans are quite high.
    • Stricter eligibility requirements: Since personal loans are unsecured, lenders have strict eligibility requirements that might be challenging to meet.


    Personal credit line of up to 2 Lacs

    When you apply for a personal credit line, you are given access to a particular amount of money that may be borrowed over a certain period of time. You only have to pay interest on the amount of your personal credit line that you use when you use it.


    • Interest charged only on the amount borrowed: When you use a personal credit line, you only have to pay interest on the amount you borrow and not the whole loan amount.
    • Revolving credit: When you repay the borrowed money, the entire loan amount is once again available for use during the loan’s duration.
    • Consolidate high-interest debt: A personal line of credit can be used to pay off other obligations, such as school loans, auto loans, and other loans with interest rates greater than your credit limit.


    • High-interest rates: Unsecured personal credit lines like revolving credit cards have higher variable interest rates.
    • Additional fees: Creditors who offer personal credit lines levied maintenance fees, origination fees, and other expenses.
    • Eligibility criteria: A stunning credit score of 700 or higher is needed to qualify for a personal line of credit because it is unsecured and is given depending on your credit score.

    Whatsapp credit line of up to Rs 5000:

    There may be circumstances where you don’t need a huge amount of money, just need a few thousand rupees. Some apps like CASHe have launched their Whatsapp credit line feature which gives you credit in 30 secs with 0 documents!

    Such features are for salaried employees only and provide a small loan amount like Rs 5000. To apply for this WhatsApp credit line, you don’t have to download any apps, just send a simple message on their official WhatsApp number and the loan application gets filed.


    • Instant credit: You get credit within 1 minute!
    • No documents: You don’t need to provide any documents, only your PAN card is required.


    • Loan amount: Whataspp credit line only provides a small loan of just Rs 5000 and not more than that.


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