As human beings, it is natural to dream and want to achieve greatness and success, whether it is for oneself and to better one's life or to build a brighter future for their next of kin. There are many opportunities to spend money on better schools, larger homes, bigger cars, and lavish weddings, but in recent years, whether due to inflation, taxation, or any other factor, it has become increasingly difficult to save money or have the adequate financial means to fulfil these dreams. This is where opting for an instant personal loan online from a reliable lender such as Stashfin makes the difference. It enables you to take charge of your finances and achieve your dreams in a much simpler, quicker, and more efficient way. This article explores the world of personal loans and compares the former with top-up loans to help you choose the right loan for your specific needs. What is a personal loan? A personal loan is a sum of money borrowed by an individual in exchange for paying back the principal amount and a charged interest rate in equated monthly instalments (EMI) over a pre-determined period. For example, getting a personal loan for ₹1 Lakh at an interest rate of 12% for three years will result in an interest amount of ₹19,572 in addition to the principal sum of ₹ 1 Lakh with an EMI of ₹3321 per month. Many people prefer instant personal loan online India due to their flexibility of use, quick disbursement, fixed tenure and EMI, and no collateral. Personal loans are typically unsecured, meaning that while the interest rate is higher than a secured loan, the borrower does not have to set up collateral as security. Thus, they can fearlessly get a loan without having to have collateral such as a home, car, or gold to set up as security in the first place. What is a top-up loan? A top-up loan is an additional loan that can be taken on top of an existing loan. This additional sum, along with the interest payable, is added to the outstanding balance remaining to be paid, and the repayment duration can be extended depending on the remaining tenure of the existing loan. This is beneficial in a number of ways; it does not add another loan to remember, the interest rate can be the same or lower depending on the lender, and the loan tenure can be the same. This is beneficial when facing emergencies or unexpected expenses. What are the differences between instant personal loan online and top-up loans? There are several ways in which an instant personal loan and top-up loans differ. Here are the differences one can expect between the two: Factors Instant personal loan Top-up loan Loan repayment duration Fixed loan duration with EMI calculated when getting the loan. The repayment duration of a top-up loan can be extended to reduce the EMI or remain the same with a higher EMI for convenient repayment. Purpose of the loan Personal loans can be obtained for any reason, granting flexibility for significant investments or expenses such as weddings, home renovations, medical expenses, etc. Top-up loans are typically used to deal with emergencies and unexpected expenses such as hospitalization. Interest rates The interest rates for personal loans are typically higher due to being unsecured. The interest rates for top-ups can be the same as those on existing loans or lower, depending on the lender's relationship. Loan amount The loan amount an individual can get depends on their needs, their financial history, credit history, credit score, replayability, debt-to-income ratio and several other factors. The loan amount depends on the outstanding balance of payment, repayment history, individual needs, debt-to-income ratio, etc. Approval process The approval process for instant personal loan online India varies depending on the lender's policies, fulfilling eligibility criteria, etc. The approval process is much easier and quicker, allowing for a more efficient process. Where to get an instant personal loan online India and top-ups? Individuals looking to get personal loan online instant approval can look for reliable lenders with a good name in the industry, such as Stashfin. Stashfin is a leading name in the industry, offering instant personal loans of up to ₹5,00,000 completely online directly from its app within minutes. With an APR starting at just 11.99% and offers such as 0% interest up to 30 days, it makes the perfect partner and lender for loans up to ₹5,00,000. In addition to a personal loan, Stashfin offers top-up loans to its customers to cater to their needs and support them through their requirements, enabling a hassle-free and efficient experience. Do make sure to check out the policies and the app for more details to make an informed decision when getting the top-up loan. Conclusion In 2024, easy loan availability and online personal loan apply has revolutionized the options for individuals by providing them with the necessary means to achieve their goals and fulfill their dreams by taking charge of their finances. With top-up loans over personal loans, it is possible to not just deal with large expenses but also any unexpected expenses, including emergencies. So get the right loan or top-up for your needs and live and achieve your dreams without fear.
If you have spent even a bit of time online, you might have seen everyone talking about getting an instant loan nowadays. But what is up with it? Why is everyone talking about this? Let us explore why instant loans are everyone’s ‘obsession’ nowadays. In today’s fast-paced world, where people are losing their jobs and living costs are rising every month, from unexpected medical expenses to wedding preparations, people need more and more money but have realized that they cannot afford everything on their own salaries. This has prompted many people who have been unable to make ends meet or people barely scraping by to dream and aspire for something bigger. This is where an instant loan comes in and solves this problem for most people. What is an instant loan? Online instant loans are a solution to this problem and offer low-value loans straight from the app without having to visit the bank and often with zero to minimal documentation. This type of loan is unsecured and thus has no collateral and can get approval within an hour, which can result in high interest rates, but by following a straightforward trick, you can ensure that you don’t have to pay interest at all. Where to get an online instant loan? With the rise in easy credit availability, those who are interested can choose from a suite of different lenders. With dozens of lenders offering instant loans, everyone should be able to get a loan for their needs. But out of all these apps, Stashfin stands out by offering loads of features that can improve your loan experience. This is because of the trick I mentioned earlier: if you pay back your loan within 30 days, you will not have to pay any interest on the money you borrowed. This is beyond the already low interest rates you will find when availing of a loan. Not only that, getting an online instant loan from Stashfin is super easy and convenient. All you need to do is follow these steps, and you will get your loan approved within an hour. How to get an instant loan online? As mentioned above, getting your loan from Stashfin takes four steps. 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 the KYC, fill out the form, and you are done Following these steps, you can also get an instant loan online from Stashfin within an hour. Conclusion It should be clear now why instant loans are everyone’s obsession nowadays. Not only are they quick and convenient by removing all the tedious and cumbersome aspects of availing traditional loans, but with instant loans, you can also see never-before-seen features like zero interest if the sum is paid back within 30 days. This is basically like getting your salary on the day you want and paying it back once you get your salary. So, whatever expense you are facing ahead of you, get instant loan from Stashfin and pay it back within 30 days to enjoy all of the benefits with zero cons.
It feels like a different era when it was difficult to get a loan. With so many lenders looking to provide you a loan, getting one nowadays has become so simple that as long as you have a stable income with good credit score and history, you can get the money in your account within hours of applying. Instant loan app are leading this credit revolution, but what are they, which is the best app to get a loan, and how to apply for one? What is a personal loan? A personal loan is a type of credit where the borrower seeks a usually unsecured sum of money to fund non-specific scenarios. A personal loan requires an individual to pay back the loan amount along with the interest charged within a set tenure predetermined by you and the loan provider. Its wide range of applications can be availed for many reasons, from financing your child’s school to paying back debt, purchasing a home, or even buying something you want. Due to its unsecured nature, it usually has a high-interest rate. Still, if one has a good credit history and score, they can shop around for other lenders with better interest rates and get a low-interest rate offered for their credibility in paying back the loan. Which is the best app to get instant loan? There are several apps that provide loans but these loan apps provide quick, convenient, and secure financing options based on your needs. These can help you fund your expenses without worries, and when you need it. Stashfin Stashfin is what I have been using recently. It provides online instant loan worth up to Rs 10 Lakhs for competitive interest rates. It charges no interest if you pay back the money within 30 days. You will only be charged interest on the funds that you actually use, not the entire amount. MoneyTap MoneyTap offers customers a line of credit up to Rs 5 Lakhs. They also allow you to pay interest only on your used amount. There is no collateral for the funds. HDFC Bank HDFC Bank is an established player in the loan sphere. They offer a loan of up to 40 Lakhs at competitive rates. They also require minimum documentation and approve loans instantly. ICICI Bank ICICI also offers pre-approved instant loans for their customers, allowing them to get up to Rs. 20 Lakhs based on their income and repayability. It is disbursed instantly and is convenient if you ever need funds urgently. How to apply for an instant loan? With so many lenders looking to provide loans, it is now effortless to get loans nowadays, and these are the steps I followed to get an instant personal loan from the app I use personally Stashfin. Download the Stashfin app from the Play Store or App Store. Sign up using your mobile number Add your details to check your credit limit Complete the KYC, and you are good to go! Conclusion This is how instant personal loan apps make it convenient to get loans instantly, all you need to do is download the app, fill in the details, and you are good to go—no running around with piles of paperwork from bank to bank. You have the answer right in the palm of your hand. So use Stashfin to get an instant online loan as I do and buy whatever you wish without waiting for your salary. Pay it back before 30 days to be charged zero interest, and even if you keep it, pay it back in easy EMI Payments for up to 36 months.