Personal loans are helpful in case of emergencies and unprecedented financial situations. They are relatively easy to obtain and are flexible regarding the loan amount, repayment period and interest rates. They are highly preferable to credit cards and traditional bank loans.
Obtaining this kind of loan becomes easy and can be done simply through a loan app. These apps provide more predictable repayment options as compared to a credit card. One of the significant reasons why borrowers should consider going for this option is that interest rates on most personal loans are fixed instead of variable.
What is a Personal Loan?
A short-term loan that can be availed instantly from a loan app. It is a flexible financial tool that allows individuals to access funds for their financial needs without providing collateral. The approval and terms of the loan depend on the borrower’s financial situation and creditworthiness.
What are the advantages of borrowing Personal Loans from Stashfin, a money loan app?
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Easy, instant and reliable
It has become extremely easy to avail of a loan from the respective app as all you need is to download the loan app, fill in the credentials and wait for the approval.
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No waiting period
You need not wait too long for the loan amount to disburse. It
takes less than 24 hours for the transfer to take place after getting the approval. It is perfect for an emergency as it requires minimum documentation and, therefore, takes less time for the whole process to complete.
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Boosts credit score
Not only can you take a loan at present, but by doing so, you are also making yourself eligible for your next loan, as it improves your credit score for the future. It also improves your credit mix, another factor in calculating a credit score.
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Transparent and predictable repayment schedule
Unlike credit cards, personal loans have a set repayment schedule that is agreed upon before the amount gets transferred. This gives you a proper monthly plan that makes you debt-free eventually from the onset.
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Flexible repayment terms
While the repayment terms are decided upon ahead of time, they are flexible and can be changed if needed. It can be revised every quarter, or however, the plan allows, making the whole process even more flexible than the traditional borrowing method.
Which is the best Money Loan app?
Stashfin, all your financial solutions under one app! We provide flexible interest rates, a wide range of loan amounts, various repayment options, minimal credit requirements and have a reputation hold among the borrowers.
It is a platform that looks after the privacy and security of the borrowers and has a customer support provision and provides loans for all purposes.
Conclusion
So, if you plan to take a loan in the future, availing a personal loan from an app is the way to go about it, as it is a convenient and accessible financial tool when used responsibly and with careful consideration.
It offers borrowers quick access to funds, simplifies application processes and more lenient eligibility criteria than traditional methods of borrowing.
