If you are planning to purchase a smartphone, you might be well aware by now that the prices of the same are touching the sky. There is no doubt in the fact that a good device costs around Rs 1 lakh, and the most preferred buying option for the same is EMI.
However, this is where a personal loan or mobile loan, as you can say, steps in. These loans can be used to purchase any personal thing without any interference or boundation of the lender.
What is a personal loan?
It is a type of loan that people avail in order to borrow a certain amount of money from a financial institution. This fixed amount of money is repaid over a specific period of time, along with the interest amount and any applicable fees.
Personal loans are often unsecured. This means they do not require collateral such as a car or house. Instead, here the borrower’s creditworthiness and income are the primary factors considered by the lender in order to determine eligibility and interest rates.
What are the benefits and features of taking a mobile on loan online?
One of the primary benefits of taking a mobile loan is the convenience it offers. You can easily apply for a loan anytime and anywhere using your smartphone or tablet, eliminating needing to visit a physical branch or go through extensive paperwork.
Easy application process
This loan application has a streamlined application process that allows for quick submission of necessary information. The applications often provide user-friendly interfaces and intuitive navigation, making it relatively easy to complete the application in a matter of minutes.
Such apps often provide faster approval and disbursement times compared to traditional lenders. The digital nature of this process allows for instant verification of information and credit checks, resulting in faster approval and, in many cases, same-day or next-day fund disbursal.
Mobile applications for personal loans usually offer transparency in terms of interest rates, fees, and loan terms. They offer clear information on the loan amount, repayment period, and associated costs.
Secure and Safe
Reputable applications prioritize the security and safety of your personal and financial information. They employ robust security measures such as encryption in order to protect your data during transmission as well as storage.
How to avail of this loan?
We at Stashfin ensure that all our potential customers face no hassle while mobile loan online apply. You can easily go to our website or download our application from the Play Store or App Store. Here is a step-by-step guide on how to avail loan from Stashfin:
- Download the loan app from the Play Store/App Store
- Sign up using your mobile number
- Add your personal details to check your credit limit
- Complete KYC and you are good to go!
As we offer loans without charging any interest rate, it is one of the best platforms to avail of such a loan. Moreover, you, as a borrower, are totally free to use the funds for whatever purpose you want.