If you’re a self employed individual in India, you recognize it may be both rewarding in addition to tough. However, there would possibly come a time while you’ll require economic help with a purpose to take things to every other level. However, this is when an Instant Personal Loan For Self Employed steps in.
So, unlike salaried individuals with payslips and steady income streams, proving financial stability as an entrepreneur requires quite a different approach. But, however, this comprehensive guide will equip you with the knowledge and steps to secure a personal loan as a self-employed person in India.
What is a personal loan? What are its advantages for self-employed individuals?
As the term indicates, it is an unsecured loan we provided on the way to meet your business desires. Now, it’s unsecure in nature as you don’t need to pledge any property like assets or vehicles as collateral.
Moreover, the quantity of the loan is allotted in a lump sum, and also you have a tendency to pay off it in fixed monthly installments (EMIs) over a predetermined tenure.
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Flexibility
Unlike a few loans which are crucial for precise purposes, personal loans provide flexibility in how you operate the finances. This is in particular quite positive for self-employed people who, over and over, stumble upon surprising costs or require investment for numerous business needs.
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No Collateral
As mentioned above, there is no need to pledge any of your valuable assets for such loans or even for Instant Personal Loan for salary. This totally eliminates the risk of losing assets in case you need help repaying the loan.
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Faster Approval Process
Compared to standard loans, these loans offer quite a simple utility procedure. This is truly because lenders often are aware of your creditworthiness and, most significantly, earnings stability.
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Improves Credit Score
Ensure that you have a proper plan to repay the loan, as this will positively impact your credit score. A good credit score is crucial for self-employed individuals, as it can influence future loan approvals and interest rates.
Why Stashfin?
If you are planning to avail Personal Loan For Self Employed, then we are right here for you! Our official application is available for both the Play Store (Android) as well as App Store (iOS), or one can even explore our website.
Moreover, regarding the rate of interest, the prime concern for potential borrowers, we don’t charge any interest on the loan amount.
This means you must pay us back the amount you initially borrowed from us without an extra penny. Here is a step-by-step guide on how to avail this facility from our app:
- Download the 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 will be good to go!
With just four easy steps, you can easily apply for an Instant Loan For Self Employed, and once approved, the amount will be credited to your account within no time.
Our ultimate goal is to offer convenience and feasibility to all our customers as well as potential customers.
Final thoughts
All in all, securing this type of loan requires proper preparation and planning. Therefore, ensure that you carefully plan and borrow responsibly, as this is quite a valuable tool to bridge gap flows.
What are you waiting for? Download our application today or explore our website for such loans or even for Loans For Salaried Person.