With an Instant Personal Loan, You Can Get the Money to Meet Your Urgent Needs
by Arina Smith Finance 29 May 2020
The lockdown seems to have brought life across sectors to a standstill, which may have in-turn made it a challenge to keep up with your financial obligations month after month. And while dipping into your savings or liquidating your investments may seem like the obvious solution, there may be a better option.
Hold on to your money, in this article, we will tell you why an instant personal loan can be the smarter solution to managing your urgent financial needs.
A personal loan offers much-needed financial respite in tough times. By opting for the right lender, you can get access to special features that can help you borrow affordably and in a hassle-free way. To see how an instant personal loan can help you bridge financial shortfalls, consider the following benefits:
1. Simplify borrowing with a collateral-free loan
When you need money urgently, choose an option that offers the simplest way to access funds. An instant personal loan is one such offering as it doesn’t require you to pledge any collateral whatsoever. This helps avoid common delays in verification and processing, resulting in quicker disbursal of money right to your bank account.
2. Skip tedious application and avail funding in a paperless manner
With advancements in fintech, instant loans are true to their name. In fact, with offerings like the Bajaj Finserv Personal Loan, you can avail funding up to Rs.25 lakh completely online. All you have to do is follow these 3 simple steps.
• Step 1: Access your pre-approved loan offer
• Step 2: Verify your identity through a single-click authentication process*
• Step 3: Avail the offer and get the money in your bank account
For existing Bajaj Finserv customers, this process is simple and easy as there is absolutely no need for any documentation. New customers can also apply easily by filling a short form online and awaiting a call from a representative.
3. You can get funds online
Another feature that makes the Bajaj Finserv Instant Personal Loan an ideal offering when you need funds urgently is that it offers a speedy online disbursal. In fact, if you have an offer approved for you and you avail it, the entire sanction is disbursed to your bank account within 20 minutes* without stepping out of your home. This way, you don’t have to worry about making any physical visits to authorise disbursal.
4. Borrow freely and repay conveniently over a flexible tenor
Borrowing wisely is important, even when there is an urgent need for cash. Thankfully, with an instant personal loan from a reputed lender like Bajaj Finserv, repayment is just as simple as availing the funds you need. Here, you can repay your dues over a flexible tenor that ranges up to 60 months.
This allows you to tailor your monthly outgo optimally while keeping your interest payment as minimal as possible. Such repayment perks allow you to borrow freely in challenging times without worrying about managing debt. Simply use the online personal loan EMI calculation tool to choose the right installment amount based on the loan amount, tenor, and interest rate.
Now that you know how an instant personal loan can come in handy when you need funds urgently, choose your lender wisely to have the best experience. The Bajaj Finserv Instant Personal Loan offers all these benefits with the addition of the Flexi Hybrid Personal Loan variant. Here, you can withdraw from your sanction in parts, as per your needs, and are charged interest only on the amount that you actually utilise. This way, you don’t pay interest on the entire sanction. Further, you can also opt to pay interest-only EMIs and reduce your monthly outgo by up to half*. This way, you have added financial flexibility when borrowing and can comfortably repay your principal at the end of the tenor.