Cash crunches can happen to anyone. Financial emergencies, by definition, mean that there is an immediate expense that you cannot afford to make, but you cannot afford to skip either. They may be health expenses, unexpected repairs, or god forbid a temporary stoppage of work (say due to a pandemic, very much like a recent situation). In such scenarios, people often turn to local moneylenders (who charge exorbitant interest rates), or sell their assets for short term needs. Goes without saying, obviously, but these common practices are definitely not recommended for two reasons:
Financial emergencies usually require immediate attention and the longer they take to resolve, the bigger the consequences they may cause. The consequences need not only be monetary but the mental stress they cause may also sometimes be more harmful. This is one of the major disadvantages of the “mainstream” methods of acquiring loans (banks and other financial institutions). The documentation, the queues, the hours of work missed and other hassles normally associated with applying for a loan is a major inconvenience in an already dire situation. On top of all these, bank loans usually require some form of collateral or guarantee, creating additional hassles. This is exactly where instant loan apps, like EarlySalary, offer timely assistance to people as and when required.
At Fibe, take immense pride in announcing that we have disbursed over a million loans for people across the country. Instant cash loans on salary, with interest rates with as low as INR 9 a day can work as an ideal option for people in times of crisis. Minimal documentation, no visits to any physical branch, no collateral or guarantee requirements, are just some of the many advantages, lending Fibe the status of arguably the best instant loan app in India. The entire loan disbursal will happen remotely with just a few taps of your fingers. The flexible repayment schedule along with our zero prepayment policy is implemented with the convenience of borrowers in mind. Fibe is the best way to obtain hassle-free loans online. You don’t have to take our word for it.
It’s possible to apply for an instant loan online without documents. Here’s the gist:
This is certainly the easiest way anyone can get instant loans online. Download the instant loan app, and be a part of the #OneInAMillion experience.
The most effective way to tackle a financial emergency will be to follow some basic financial discipline and build a buffer. Prevention is definitely better than cure, and that is exactly the reason we had suggested the basic 50-30-20 mantra and the way to build buffer money in our post on International Happiness Day. Needless to say, we will always be happy to help in times of need, but that should not deter anyone from planning their finances properly, and reduce the risk of unnecessary headaches arising from cash crunches and financial emergencies.
Check out our instant loan FAQs if you have any queries, and if you don’t see your query answered here, feel free to contact us, we are more than happy to help!