Beginners guide on getting an instant loan
Instant loan is a personal loan given by lenders within a short approval process. As the name suggests these loans are disbursed quickly in your personal savings account. Loan app provides such loans to satisfy short term requirement of the users. Compared to the traditional banks, the app only loans function faster and simpler. These are unsecured loans so the user doesn’t have to secure the loan with an asset like a home or any vehicle. There are a few ways you can get an instant personal loan.
Approach a loan app. It has become much easier to get personal loans these days, thanks to the interest. One can apply for an instant loan sitting at home or at the office with a smartphone and a working internet connection. The application and approval process is much faster. There are certain criteria that you need to be eligible to get an instant personal loan. CASHe, a loan app, asks for minimum documentation like identity proof, address proof, and income proof.
You need to download the loan app from the google play store or apple app store and register yourself. Upload your documents from the app itself and enter the loan details. You can take an instant loan starting from INR 10,000 to INR 3 lakhs. The duration of the loan can be 62, 90, 180, 270 0r 360 days. The entire transaction is carried digitally. No physical visit is required for any bank or branch. Once you submit the request to the loan app, it will review the request and notify you the status of your instant loan. The approved loan directly gets credited in your bank account. This is the easiest method to get an instant personal loan.
If you wish to explore other methods, you can always use your credit cards. You can take a cash advance from the credit card. If you already own a credit card, this is a faster process to get instant loan. You can use the credit card to withdraw the cash from ATM. Most of the banks provide such facilities. All you need to keep in might that the charges of cash withdrawal from your credit card will be high, unlike the instant personal loan. It is advisable to use the credit card carefully without harming your credit score.
One of the convenient options apart from app only loans is taking a loan from a known person. You can ask for an instant loan from your family or friend when in need. Make sure you discuss the terms and conditions before getting a loan, as it involves your loved ones. Getting an instant loan from a known person will definitely save you the interest rate.
If you are still wondering how to get an instant loan, you check out CASHe loan app. You can read the FAQs and the process of how the app only loans work to get a better idea. This will help you arrive at a decision.