In this era of utter dearness and inflation, you come across a lot of situations when you need extra money urgently. For example, you may need money for the higher education or wedding of your child, bearing some costly medical emergency, for the renovation of your house on urgent grounds, etc. Your regular salary or income falls short to meet your urgent liabilities of this sort. Unfortunately, you have not been able to save from your regular incomings just because of your tight overall financial circle. What is more, you are not blessed with some valuable assets to liquidate then and there and meet your needs.
Under the above-said circumstances, you will need a ready cash to fulfill your needs. If you are lucky enough to have been blessed with some rich and generous friends or relatives to lend you an easy loan, this is the best solution. You will finance your expenses and return the loan as per your ease in near or remote future. But, unfortunately, if this is not the case, you will have to look for some official borrowing from some bank. A lot of options will be before you in this regard. You may take credit card loan, mortgage loan, equity loan, personal loan, San Diego hard money loans, etc. Out of all these, a personal loan is the best option due to the following reasons.
Why are personal loans a healthy option?
Very easy to avail:
Most of the top banks are now offering personal loan in a perfect hassle free and smooth way. This is very easy to avail because it is absolutely through an online process. You do not have to visit the bank physically to fill out the loan form or other documents. Moreover, no verification of any kind is required for a personal loan.
No security or collateral is required:
A very convenient aspect of the personal loan is that you do not have to provide any security or collateral against the amount being borrowed. So, all those without any security or collateral can avail it promptly. This will save your time and energy to manage some security or collateral.
No risk is involved:
A blessed feature of the personal loan is that it is totally risk-free for the borrower. Rather, the lender is on a great risk for not having any collateral against what it has lent. Even if you are unable to pay back on the due date, you never need to feel worried. You can pay it after a few days at your ease.
A personal loan is the quickest to be disbursed in a few minutes or hours. You can rely on this fast loan even in case of an emergency. Top ranking banks like HDFC can approve your personal loan within 10 minutes. Finance Buddha is offering a personal loan within a process of 24 hours.
Large loan amounts:
Without any collateral never means that you are bound to borrow only a small amount. In fact, you can borrow up to one million, if you need to, and rid of your emergency the earliest.
Affordable interest rate:
In addition to all the above-mentioned conveniences, the most blessed feature of a personal loan is its affordable interest rate. Though it is a bit higher as compared to that on other loans, it is justified for two reasons. First, it is sanctioned and issued without any collateral and, second, with a maximum facility of time.
So, you can easily take a personal loan in the shortest time without any collateral and pressure of time frame to return it.
- Acceptable Reasons for Obtaining Personal Loans
- Funding For Fun – A Guide To Eligibility Criteria For Personal Loans