If you are looking for access to easy and instant funds, then instead of asking from your friend or relative, it is always better to opt for instant cash loans. The application process, if initiated from the right application, is usually simple and straightforward. Undoubtedly, the accessibility that financial applications offer has led to a healthier country in monetary terms. Gone are the days when people used to travel to banks to gain access to loans. What is a fast cash loan? As the name implies, it is a short-term loan that offers potential borrowers instant access to a small amount of cash in order to cover emergency expenses or unexpected financial obligations. This loan type is generally offered by alternative lenders or credit unions and can be easily obtained with little to no credit check or even collateral requirement. These loans are usually used to cover unexpected expenses such as medical bills, vehicle repairs or other urgent expenses. The amount of the loan is generally small, and its repayment period is short, usually two weeks to a month. What are the features and benefits of fast cash loans online? Instant cash One of the top pros of such loans is that it offers quick and convenient access to cash when they need it the most. In addition, the loan application process here is relatively easy and fast, and the funds can be transferred to the potential borrower’s bank account on the same day. Helps build credit Some lenders may report fast online cash loan payments to the credit bureaus, which helps the borrower build or improve their credit score over time. This can be especially beneficial for those with poor credit scores and planning to improve them. Repayment Flexibility It gives the borrower flexibility, allowing them to repay the amount over a more extended period. However, these loans usually have a short repayment period, ranging from two weeks to a month. No collateral Such loans are usually unsecured, which means that the borrower doesn’t need to provide any collateral to secure the loan. This is quite beneficial for those who do not have assets to pledge as collateral. No Credit Check Required These types of loans do not require a credit check, which basically means that borrowers with poor credit scores or no credit history can still qualify for a loan. This makes such loans an accessible option for those who have been turned down by traditional lenders. How to avail instant cash loans? Stashfin offers the feasibility to all potential borrowers to avail the loan facility from its website or simply by downloading their application from the Play Store/App Store as per their device. However, if you are planning to download the application, here is the step-by-step guide: Download the Stashfin app from the Play Store/App Store Sign up using your mobile number Add your details to check your credit limit Complete KYC and you are good to go!
In India, people avail loans for various kinds of reasons. From purchasing a car to purchasing a home to even renovating it, there are several types of loans available in India. This helps individuals to access funds in order to meet their financial needs, and the lenders offer quite a wide range of loan options to meet different needs and requirements. One of the most popular choices nowadays is a personal loan. This helps them cover their medical emergencies, weddings, vacations, or even home renovations. What is a loan? It is a financial arrangement in which a lender provides funds to a potential borrower, who agrees to repay the borrowed amount over a set period of time along with the interest amount. If it is about personal loans, one can easily apply for small personal loan online and get access to funds instantly. However, these are usually provided by financial institutions/banks and can be used for various purposes such as personal expenses, home purchases, business, or education. In addition, loans can be secured or unsecured, depending on whether the borrower is required to provide collateral. What are the different types of loans available in India? Housing loan Unsecured in nature, these types of loans are used to buy property. Compared to unsecured loans, they usually have a lower interest rate, as the property itself acts as collateral for the loan. The amount of loan which is to be issued can be up to 80% of the value of the property, with repayment tenure ranging from 10 to 30 years. Car loan As the term suggests, this loan type is used to purchase a vehicle, with the car acting as collateral for the loan. Compared to housing loans, they generally have a higher interest rate with a repayment tenure ranging from 3 to 7 years. To be eligible for the same, the potential borrower must have a stable income source and a good credit score. Personal loan One of the most trending ways to gain access to easy funds to fulfil personal needs, this loan type is relatively easy to avail these days. However, they have a higher rate of interest than secured loans, as no collateral is involved. Moreover, the amount issued here usually ranges from several thousand to a few lakhs, with repayment tenure ranging from 1 to 5 years. Education Loan These loan types are generally used to fund higher education. If we compare them to personal loans, they generally have a lower interest rate than personal loans. The repayment tenure ranges from 5 to 15 years and can be up to Rs 50 lakhs, depending on the course and institution. To be eligible for this type of loan, the borrower must have secured admission and must offer income and collateral. Business loan A business loan is used to expand an existing business or even to start a new one. These can be secured or unsecured, with the rate of interest varying depending on the lender and borrower’s creditworthiness. The amount of the loan here depends on the lender and borrower’s requirements. In the current era, quick and easy personal loans online are easy to avail. It tends to fulfill many needs, such as home renovation, expanding an existing business, and various other personal reasons. Just download our personal loan app or apply on our website only to get access to funds within a blink of an eye!