In the post-Covid-19 period, with the pandemic’s negative impact on our finances, running from pillar to post for loan applications and approvals is the last scenario you’d want to deal with. Fret not, though, as in this age, with all services digitised, borrowing online is now easy. With dozens of lenders advancing loans online, instant cash loan apps have emerged as one of the most convenient options for borrowing.
While we all plan every penny of our earned income, slip-ups and financial emergencies are unpredictable. However, the old conventional financial products are now evolving to suit different needs, whether spontaneous purchases or essential medical emergencies. Instant cash loan apps can now help with all your personal loan needs.
In this article, we will tell you about the benefits associated with these apps that can help you fight a cash crunch and loan application eligibility in today’s age!
You can complete the entire borrowing process online with instant cash loan apps. You can also check your eligibility for a loan without submitting any documents!
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Instant loan apps like Fibe are generally password protected and so is every transaction made through them. This ensures your data security against identity theft. Plus, even if someone cracks your password, the money can only be transferred to your account. No third party can change the account details.
Once your loan is approved on the app, you usually need to upload a canceled cheque leaf from the salary account. Your loan agreement is mailed to you soon after successfully uploading these documents. For instance, Fibe may take 8 to 24 hours to process a personal loan, even though the loan amount is usually transferred within minutes of loan approval to the borrower’s account.
The Internet and smartphones have made getting loans in India super easy. With over a dozen instant loan apps in the market, getting cash loans within minutes of your application is no longer a utopian scenario. A quick comparison between the various lending apps regarding interest rates and repayment options can bring up several choices ranging from an instant loan to a salary advance loan, which will help you manage your money crunch.
Famous athlete and Olympic Gold medalist Carl Lewis once said, “Life is all about timing”. So when the time is just right for various pursuits, or in times of great uncertainty, it’s important not to let a lack of funds stop you.
Here’s a look at how a quick loan approval from an instant loan app can help you.
Instant cash loan apps have an open registration and application process. Doing your homework by checking loan eligibility and EMIs with an online EMI calculator provides higher chances of loan approval. With on-the-go access and instant personal loan approval, cash loan apps can help you whenever there is an emergency. Simply open Play Store/ App Store, dig out a reliable money loan app like Fibe and upload the required documents to get the funds transferred to your bank account directly.
The biggest advantage of an instant cash loan app is privacy and security. On Fibe, OTPs and fingerprints verify every request or transaction made. There is no risk of losing your personal information. Your data is secured through encryption. In-app permissions ensure that you share only necessary information, no more, no less.
eKYC, online documentation, and online loan approval reduce the time taken by instant cash loan apps to disburse the loan. The lending process is simple and the decision to lend or not is typically made within minutes of your application and the amount is transferred directly to your bank account.
Short-term financial constraints may affect your credit score. However, the risk of rejection of a cash loan based on your credit score is much lower in the case of instant loan apps. For instance, with Fibe, you can apply for an instant personal loan with low CIBIL score! Plus, you can also calculate your EMI using the in-app EMI calculator.
To sum it all up – the Fibe instant cash loan app offers credit when you want it, wherever you want it with no prepayment charges and flexible repayment options thrown in as well.
Download the personal loan app, and be a part of the #OneInAMillion experience.