Online loan apps like InstaLoan offer high convenience and instant disbursal facilities. These features make them very popular, further complemented by the paperless application process. Therefore, more lenders are choosing this loan option today.
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In the past, many people did not choose personal loans due to the cumbersome application process. A potential borrower needed to visit a lender’s physical branch with all the necessary documents. If even a single document was missing, lenders rejected them. However, today, applying for a loan is easier than ever before with online options like apps and websites.
Online loan apps are a much-coveted digital solution to previous personal loan processes. Many online lenders have understood the advantages and reach of technology in enabling loan accessibility and application. On the other side of the coin, availing a personal loan through an app is highly convenient for any potential borrower.
How Apps Simplify Personal Loans?
With so many apps for personal loans today, choosing the ideal one is difficult. That said, it is no secret that these apps have significantly improved customer experience with various lenders. So, how do apps simplify personal loans?
Perhaps the biggest draw of choosing a loan app is the convenience. Due to the entirely paperless process, you can avail of loans on a 24/7 basis. Ensuring you have the necessary documents scanned beforehand makes this process infinitely smoother. You no longer need to visit a physical branch with documentation for verification when you choose an instant loan app. Instead, you get your loan disbursed within 30 minutes!
All Loan-Related Information in One Place
Another significant benefit is having 24/7 access to all your loan-related information. Whether this pertains to the loan amount, EMI details, interest rates and payments, tenure or any other such details, your app’s dashboard has it all. As soon as you open your app, you get an instant overview of your loan status and repayment schedule. This accessibility greatly simplifies financial planning since you can now plan at any time, anywhere.
Safe and Secure
While a personal loan may be an unsecured loan, the online application process is anything but. Although you may hear of several incidences of fraud, be rest assured that choosing a reliable provider avoids all these risks. The top loan providers ensure 100% security in their apps, so you undergo a hassle-free process.
Bailing You Out of Emergencies
One of the main functions of a personal loan is giving you quick access to any necessary funds. Going through an app ensures you get the financial leverage necessary to meet any sudden payments. Additionally, the variety of apps on the market today ensure competitive and affordable interest rates, making personal loans more attractive. As long as you meet the eligibility criteria, you get instant funds to pay off any hefty expenses.
Catering to Numerous Expenses
A personal loan is a great solution in a financial fix because it does not have a single use. The same loan is versatile whether you want to pay for your wedding or your credit card bill. Your lender has no say in how you use the loan (unlike in the case of a home loan, for instance).
How to Apply for a Personal Loan Through an App?
Applying for a personal loan online is very easy today. Especially when it comes to app applications, instant disbursement drives many potential borrowers to avail of loan services. Checking your eligibility with a calculator beforehand can further smoothen this process. Additionally, for some providers, only salaried individuals can get personal loans through apps.
Once you know which loan amount you are eligible for, you can take the following steps:
- Download and install Fullerton InstaLoan app
- Enter your mobile number and OTP
- Create your MPIN
- Provide personal details with valid ID proof
- Enter employment details
- Input bank account details
- Upload necessary documents
- Verify details, “Agree” to terms and conditions
- “Submit” your application
Once your application is complete, a representative from your lender of choice will contact you. If all your details are in place, you should get your loan within 30 minutes. Only specific, highly reputed lenders only offer this instant loan advantage.
Choosing the right personal loan provider ensures you have the best experience. You get a manageable interest rate with flexible repayment schedules for an optimised loan experience. Therefore, you return to financial security in no time!