Category Archives: Personal Loans

Long gone are the days when people used to call up their relatives or friends to avail some financial assistance. Nowadays, as smartphones have become human’s round-the-clock companions, they totally rely on them for almost everything. Financial assistance is just a few taps away for you. We at Stashfin ensure that all our potential customers don’t face any hassle while availing of the instant loan facility. Moreover, we are the only one in the industry offering personal loans without charging any interest upon it. To know more about this category, let’s dive deep into the details.  What are personal loans? As the term suggests, it is a type of unsecured loan offered by financial institutions (credit unions, fintech applications, banks, etc) to potential individuals for various personal purposes. The borrowers here receive a lump sum amount, which they are bound to repay over a fixed period, along with the interest rate.  This loan can be used for a wide range of expenses, including consolidating ongoing debt, funding home refurbishments, covering unexpected medical bills, etc. Moreover, they don’t require any kind of collateral, but the eligibility depends on factors like credit score, income, and credit history.  What is an EMI calculator? There is no rocket science involved in understanding what such a calculator is all about. It is basically a simple financial tool that helps individuals estimate their monthly loan repayments accurately. It is used majorly for personal loans, car loans or home loans.  You can easily use this tool from our website, and you just have to input key details such as the principal amount, interest rate, and loan tenure. The tool then computes the monthly installment amount, which includes both principal and interest components.  What is the importance of the EMI Calculator in getting a personal loan? Accurate and Apt Planning These tools offer precise estimates of monthly loan repayments based on various loan parameters, allowing borrowers to plan their budgets in a much more efficient and effective way.  Transparency One thing we always make sure of is transparency. Such a tool always offers complete transparency about the borrowing cost. This is simply because the borrowers can easily witness the exact breakdown of principal and interest payments for each installment.  Avoid Financial Stress Using this tool helps borrowers choose a loan with EMIs that fit comfortably within their financial capabilities. This reduces the risk of defaulting on loan repayments and experiencing unnecessary financial stress.  Instant Decision-Making With this tool, potential borrowers who are planning to avail of the loan facility can quickly assess the financial implications of a personal loan.  Helps you maintain a healthy credit score When you have updated knowledge of your monthly outgo, it will always help you maintain a good credit score. Therefore, if you know the EMIs payable before you borrow the amount, you can plan accordingly.  Why Stashfin? We at Stashfin offer personal loans for individuals who are looking for immediate financial assistance. Moreover, we are the ones who are leading in this sector by offering zero percent interest on our loans.  One can easily visit our website and download the application via the Play Store/App Store to initiate further. Say goodbye to the long and tiring trips to financial institutions when you join hands with us. So, what are you waiting for?

In life, there are times when you suddenly need money, like when you have to pay for a surprise expense or fix something important. When this happens, a small personal loan can be a real lifesaver. They're like a helping hand that gives you cash quickly when you need it. The guide, "Small Personal Loans To Consider When You Need Instant Cash," is like a roadmap to help you understand your options when it comes to borrowing money in a simple way.  It explains the different types of small personal loans and what's good and not-so-good about each one. Imagine you're shopping for a car. You want to know about different models, their features, and how they compare to each other before making a decision.  This guide does the same thing but for loans. Know about different loans like payday loans, which are like borrowing money from your next paycheck, or personal lines of credit, which are like having a financial safety net. By the end, you'll have a better idea of which loan might be right for you when you're in a pinch and need money fast.  List of some small personal loans for instant cash Life has a way of throwing unexpected financial curveballs our way, leaving us in need of instant cash to tackle these unforeseen challenges. Whether it's an urgent medical bill, a car repair, or a last-minute travel opportunity, having access to small personal loans can be a real game-changer. Here are some of the best personal loans that can generate instant cash.  Unsecured loan It is a type of loan that does not require collateral. Unlike secured loans, where borrowers must pledge assets like their home or car as security for the loan, unsecured loans are granted based on the borrower's creditworthiness and ability to repay without any such collateral. One of the defining features of unsecured loans is the absence of collateral. This means that borrowers do not have to risk their valuable assets to secure the loan, which can be reassuring for individuals who are uncomfortable with the idea of potentially losing their property in case of non-payment.  Payday Loans Payday loans are short-term loans that are typically due on your next payday. They are designed to provide quick access to cash, and approval is usually easy and quick. However, they come with high-interest rates, often exceeding 300%, which can make them quite costly. Failing to repay on time can lead to a cycle of debt as the fees add up quickly. Personal Installment Loans Personal installment loans offer a fixed amount of money with a fixed interest rate, and you pay it back in equal monthly installments over a set term. This structure provides predictable monthly payments and often offers longer repayment terms compared to payday loans. However, interest rates can still be relatively high in this unsecured loan, and eligibility criteria may be stricter due to obvious reasons. Credit Card Cash Advances Credit card cash advances allow you to use your credit card to get a cash advance, essentially borrowing money from your card's credit limit. It's a quick way to access cash if you have a credit card, with no need for a separate loan application. However, they often come with high-interest rates, cash advance fees, and if not managed well, can negatively affect your credit score. Peer-to-Peer (P2P) Loans P2P lending platforms connect borrowers with individual investors willing to lend money. This option can provide competitive interest rates and flexible terms. P2P lenders may also be more willing to work with borrowers who have less-than-perfect credit. However, funding may not be as immediate as with other options, and approval isn't guaranteed as investors decide whether to fund your loan. Personal Lines of Credit Personal lines of credit function like a revolving credit account, allowing you to borrow up to a predetermined limit as needed. This offers flexible borrowing, often with lower interest rates compared to payday loans, and you only pay interest on the amount you use. However, good credit is typically required, and interest rates can still be higher than traditional loans. The available credit limit may also be lower than expected. Credit Union Loans Credit unions, like banks, offer a personal loan to their members at competitive rates. This option often comes with lower interest rates, more lenient lending criteria, and personalized service. However, you need to be a member of the credit union to access these loans, which may require meeting membership criteria. Online Installment Loans Similar to traditional personal installment loans, online installment loans are available from various lenders on the internet. They provide convenience, a wide range of options, and competitive rates. However, be cautious of online lenders that may charge exorbitant interest rates or have hidden fees. Always research and choose reputable lenders. Family and Friends Borrowing money from loved ones when in need of instant cash is an option with no interest typically charged, and terms can be flexible. However, there's a risk of straining personal relationships if the loan isn't repaid as agreed. It's crucial to maintain open communication and uphold your end of the deal. Employer-Based Loans Some employers offer salary advances or emergency loan programs to their employees. These loans often come with low or no interest, and repayments are deducted from your paycheck. However, availability depends on your employer's policies, and such loans may not cover larger financial needs. Conclusion In conclusion, the availability of small personal loans via instant loan apps provides a valuable lifeline when you find yourself in need of instant cash to tackle unexpected financial challenges. Each of these loan options comes with its own set of advantages and disadvantages, making it essential to carefully assess your financial situation, needs, and repayment capabilities before making a decision.  Payday loans offer quick approval but often come with high costs, while personal installment loans provide predictability but may have relatively high interest rates. 

In today's unpredictable job market, losing your job can be really tough. It's like suddenly facing a big problem, especially when it comes to money. But there's a helpful solution that can get you through this tough time: something called a personal loan. Think of this guide, "Strategies for Taking Out a Personal Loan After Losing Your Job: Managing Your Money," as your friendly roadmap during this challenging journey.  We're here to explain how personal loans work and show you what to do step by step. We'll also talk about other money options you might have and share some smart tips to make sure you're on the right track. This blog post ensure a better understanding of strategies to manage a seamless financing. Our goal is to make money less scary and more manageable, so you can move towards a stable financial future.  List of Strategies for Taking Out a Personal Loan After Losing Your Job Losing your job is never easy, and it often brings financial challenges along with it. Bills still need to be paid, groceries still need to be bought, and life goes on.  One financial tool that can help you during this tough time is a personal loan. Following are some of the effective strategies that can help us ace the game of loan.  Assess Your Financial Situation Before you jump into getting a personal loan, take a deep breath and assess your financial situation. Make a list of your monthly expenses and your current savings. This will help you understand how much money you need and how much you can realistically borrow. Being clear about your finances is the first step in making a smart decision. Create a Budget Once you know your financial standing, create a budget. This should outline your income, expenses, and how much you plan to allocate towards loan repayments. A well-structured budget will keep you on track and help you avoid overspending. Understand Your Credit Score Your credit score plays a significant role in getting approved for a personal loan and the interest rate you'll be offered. Check your credit report and try to improve your credit score if it's not in great shape. Paying bills on time and reducing outstanding debts can boost your credit score over time. It is one of the best loan strategy that wil ensure a seamless journey of personal loan ahead.  Explore Government Assistance Programs Depending on your situation and where you live, there might be government programs or benefits available to help you during unemployment. These programs can provide temporary financial relief and reduce the need for a personal loan. Research Lenders Not all lenders are the same. Some may specialize in loans for people with lower credit scores, while others may offer more favorable terms. Research different lenders, read reviews, and compare their interest rates and fees. Look for reputable lenders with transparent terms and conditions. Consider Co-signing or Collateral If your credit score is a concern, you might need a co-signer or collateral to improve your chances of loan approval. A co-signer is someone with good credit who agrees to repay the loan if you can't. Collateral is an asset, like a car or valuable item, that you offer as security for the loan. Explore Alternative Loan Sources Personal loans aren't your only option. You might consider a home equity loan, borrowing from your retirement account (if possible), or seeking help from family and friends. These options could have more favorable terms or lower interest rates. Have a Repayment Plan Having a clear plan for repaying the loan is essential. Make sure your budget accommodates the monthly loan payments, and if possible, try to pay more than the minimum to reduce the overall interest you'll pay. Emergency Fund Once you've overcome this financial hurdle, start building an emergency fund for future unexpected expenses. Having some savings set aside can prevent you from needing loans in the future. If you're feeling overwhelmed by your financial situation, don't hesitate to seek advice from a financial counselor or advisor. They can provide personalized guidance and help you make the best decisions for your unique circumstances. Conclusion In conclusion, navigating the challenging waters of personal loans after losing your job requires a blend of careful planning, financial wisdom, and resilience. While it's natural to feel apprehensive during such uncertain times, the strategies outlined in this guide are here to serve as your compass, helping you chart a course toward financial stability.  Remember to start by assessing your financial situation and creating a budget that aligns with your goals and income. Understand the importance of your credit score and work on improving it if necessary, as it can significantly impact your loan options. Explore government assistance programs and alternative sources of financial support, and always research lenders thoroughly, selecting the one that best suits your needs.

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? 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. 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. 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. 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. 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.

In the past few years, we’ve witnessed an extraordinary upswing in the popularity of instant personal loan in India. These applications provide a seamless and effective means for individuals to obtain funds, sidestepping the cumbersome documentation and prolonged approval processes often associated with conventional lending establishments. With these ground breaking apps, individuals can swiftly and seamlessly acquire funds, enabling them to address their financial requirements promptly. What is a personal loan? The personal loan represents an unsecured loan variant accessible to individuals through banks, credit unions, or digital lenders, serving their individual fiscal necessities. In contrast to loans earmarked for specific intentions like mortgages or auto loans, these funds are versatile and applicable for diverse purposes. This encompasses medical bills, consolidating debts, enhancing residences, educational outlays, wedding costs, or any other individual monetary demand. What are the 5 points to keep in mind while applying for a personal loan? Personal Loans stand as one of the most favored financial offerings, sought after by numerous individuals to cater to a range of needs. These may encompass covering unexpected costs brought about by medical emergencies or managing substantial expenses, among other reasons. However, if you find yourself on the brink of applying for your inaugural Personal Loan, there are several crucial aspects deserving your attention. Presented below are five pivotal points to be considered: Assess Your Requirements Before obtaining a Personal Loan, evaluating your specific needs is imperative. Gaining a clear understanding of your necessities will enable you to pinpoint the precise loan amount you wish to procure. Evaluate Credit History credit history stands as a paramount determinant influencing your eligibility for a Personal Loan. Financial institutions scrutinize your credit history to ascertain your repayment capability.  Compare Interest Rates Ahead of initiating your Personal Loan application, it is prudent to compare the prevailing personal loan interest rate extended by different banks meticulously. Given the influential role of interest rates in shaping the overall cost, conducting a comprehensive analysis of interest rates provided by various banks is pivotal. This step ensures the selection of the most cost-effective option. Consider Associated Charges A spectrum of charges may be associated with a Personal Loan, encompassing processing fees, prepayment penalties, and late payment charges. Equipping yourself with a thorough understanding of these expenses empowers you to assess the financial feasibility of the loan arrangement. Assess Repayment Capacity Gaining insight into your financial situation is pivotal in determining your ability to repay the loan. Verifying that you possess adequate financial resources to meet the loan repayment obligations is crucial. Therefore, before embarking on a Personal Loan application, it is advisable to accurately ascertain the monthly EMI amount that aligns with your budgetary constraints. Conclusion The introduction of these personal loan apps has brought about a transformative shift in India's lending scenario, offering individuals rapid and hassle-free avenues for securing funds. These applications deliver effortlessly smooth user interactions, expeditious loan payout, and interest rate propositions. Before you agree to take a loan, it's really important to carefully check the rules and conditions and be on the lookout for hidden fees that could make the total cost higher.

Over the past few years, there has been a remarkable rise in the popularity of personal loan apps in India. These apps present a convenient and efficient solution for individuals seeking quick access to funds, eliminating the need for much paperwork and long waiting periods associated with traditional lenders. With these innovative apps, individuals can secure funds quickly and effortlessly, empowering them to meet their financial needs promptly. What is a personal loan? It is a type of unsecured loan that potential individuals can borrow from banks, financial institutions, credit unions, or online lenders in order to fulfill their personal financial needs.  Unlike loans that are taken for a particular purpose, such as a home loan or automobile loan, these loans can be used for a variety of reasons, including medical expenses, debt consolidation, home improvements, education expenses, or any other personal financial requirement. What are the key features of personal loans? 1. Flexible Amount of Loan They provide borrowers with a specific loan amount upfront, which is to be repaid in fixed installments over a fixed/predetermined term. 2. Flexibility in use A Personal loan provides unmatched flexibility in facilitating you to do what you wish. Want to get married? Sure. Do you want to repair your home? Sure. There are almost limitless ways you can use a loan. 3. Fixed Rate of Interest These loan types generally have a fixed interest rate throughout the loan tenure. This allows borrowers to plan their repayment schedule and budget in a much more efficient manner. 4. Flexible Repayment Terms The repayment terms here typically range from a few months to several years, depending on the lender and the loan amount. Which are the best loan apps in India?  While searching for trustworthy mobile applications for loans, you can trust Stashfin. It is a leading instant personal loan app in India as it’ll offer instinct access with a limit of up to Rs 10,00,000/- at 0% for a period of 30 days. Isn’t that great?  How can you apply for a small personal loan online? Download this small 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 for an instant personal loan online! Conclusion The lending landscape in India has been revolutionized by such an application, allowing individuals quick and convenient financing solutions. These apps provide seamless user experiences, quick loan disbursals, and attractive interest rates and can be calculated by a personal loan emi calculator.  Although this has made it easier for borrowers to get the money they desire to do what they want, responsible borrowing is crucial. 

In recent years, there has been a remarkable surge in personal loan app popularity in India. These apps offer a convenient and efficient way for people to access funds without the burdensome paperwork and lengthy waiting periods typically required by traditional lending institutions.  With these innovative apps, individuals can secure funds quickly and effortlessly, empowering them to meet their financial needs promptly. What is a personal loan? It is a type of unsecured loan that individuals can borrow from banks, credit unions, or online lenders to fulfill their personal financial needs.  Unlike loans that are taken for specific purposes, such as home loans or car loans, these loans can be used for a variety of reasons, including medical expenses, debt consolidation, home improvements, education expenses, wedding expenses, or any other personal financial requirement. What are the key features of personal loans? Flexible Loan Amount They provide borrowers with a specific loan amount upfront, which is to be repaid in fixed installments over a predetermined period. Flexibility in use Personal loan provide unmatched flexibility in facilitating you to do what you wish. Want to get married? Sure. Do you want to repair your home? Sure. There are almost limitless ways you can use a loan. Fixed Interest Rate These loan types generally have a fixed interest rate throughout the loan tenure. This allows borrowers to plan their repayment schedule and budget more effectively. Flexible Repayment Terms The repayment terms here typically range from a few months to several years, depending on the lender and the loan amount. How to get a personal loan? I began my journey by researching various online lenders in India to get personal loans. I read reviews, compared interest rates, and scrutinized the eligibility criteria. After careful consideration, I selected Stashfin! Here is a step-by-step guide on how to avail loan from the Stashfin 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 are good to go for a Personal loan The convenience and efficiency of personal loan apply online lending save a lot of valuable time during a challenging situation. Conclusion In the current age, loan app have disrupted the lending industry, providing individuals with a convenient and efficient way to access funds when needed.  These apps have democratized lending, offering financial opportunities to a wider range of individuals. With continued advancements in technology and a focus on customer-centric services, personal loan apps are likely to continue changing the game of lending, driving financial inclusion and empowering individuals to achieve their financial goals.

When considering financial decisions that can impact one's life long-term, one must always plan properly to make informed decisions. Knowing terms, interest rates, estimated payouts, and charges help you understand what you are getting into and make the best of it. Not planning properly can lead to a situation where you cannot make the payments and are stuck between a rock and a hard place. Getting into debt might not be on the wishlist of many but life happens, and sometimes there is no other choice, but that should not stop you from making a choice that ultimately benefits you. Let us explore a personal loan, how to get one, and how to use an EMI calculator to make informed financial decisions. What is a Personal Loan? A personal loan is a type of loan typically not secured by collateral. It is favored over specialised loans such as home loans because of its wide range of applications and nearly limitless end-use cases. A personal loan, like any other type, requires an individual to repay the loan amount and the interest over the predetermined tenure. Which is the best application for a loan? A few months ago, I needed to get some funds urgently and decided to get a loan. After much research and asking several friends, I was recommended an app called Stashfin. I went through it thoroughly, and I was pleasantly impressed. It was not only easy to use but also highly convenient and quick. It helped me cover that urgent expense and make sense of my mess. How to get a loan? It was effortless to get a loan from Stashfin, and it was not only convenient as I could do all of this from my home, it didn’t need any physical documentation, and I got the money disbursed within hours. These are the steps I followed to get my loan: I downloaded the application. After which, I signed up using my mobile number. I filled in my details to check my credit limit. I completed the KYC and got my loan approved quickly. And within a few hours, I could get the money in my account and fund that expense. How to use a loan calculator? Using readily available tools, like a calculator personal loan, is extremely valuable when making financial decisions. All you need to do is visit the Stashfin Website and click the EMI Calculator tab. You can input the Principal amount you need, choose the repayment tenure, and add the interest rate offered there. Once you do this, you will be showcased the monthly EMI you need to pay, the total amount payable, the interest payable, and the effective interest rate. These will help you make an informed decision and plan your finances properly. For example, I needed a loan for Rs 3 Lakhs and was offered an interest rate of 12%. I make around Rs 50,000 every month and wanted the EMI to stay within 40% of my monthly income. I used the tenure slider to increase the repayment tenure and figured out that 18 months would be my best option. It meant I had to pay around 36% of my salary, which fit my expenses and needs allowing me to take this loan and pay my dues fearlessly. Conclusion Thus, the best option is to use a personal loan EMI calculator to simulate different scenarios and see what fits you and your financial ability best. It gives people the knowledge and ability to do these calculations quickly and accurately without doing so manually. These tools are readily available and possible for anyone and everyone to access so that you can make the right decision, compare between different lenders, estimate the monthly payments and interest rates, and get the best deal for your needs.

Whether looking to fund your higher education, a foreign trip, your wedding, or any of your other goals, one thing which can help you out when everything else fails is a personal loan. A personal loan app helps by funding your dreams, as they allow you to make certain decisions that would not be possible otherwise without begging for money from your friends or family. It enables a person to be financially conscious and choose their future accordingly.  What is a personal loan? A personal loan is a way of borrowing money in a usually unsecured manner to fund certain things. Unlike specialized loans like a home loan to purchase or renovate a home or plot of land, personal loans don’t have an end-use clause and can be used for any number of reasons, from funding your child's education to planning a foreign vacation.  Due to its unsecured nature, this might have slightly higher interest rates and approval criteria depending on your credit score and credit history. A higher credit score and good credit history are required to establish you as a credible lender and offer lower interest rates.  Why should you avail of a personal loan? Although an online personal loan apply is an excellent option for many people, it is not for everyone. Still, it might benefit everyone with a planned investment coming in the future or an urgent need for cash they have yet to prepare for.  This encompasses everything from medical emergencies to paying off your debts to fund a foreign trip. A personal loan has nearly infinite value if you plan for it properly.  One thing to keep in mind when thinking about getting one is to plan your finances, assess your income and your liabilities/how much you spend, and ensure that the loan's EMI does not exceed 40% of your income. What are the best personal loan apps? The credit market in India is booming, with dozens of players entering this space, making it confusing to figure out which one to choose. However, this has also made it a lot better for most people, providing them unprecedented access to funds if they can repay it.    Here are top three personal loan application I have used: Stashfin Stashfin blew me away at how easy and convenient it was. I disregarded it initially when my friends recommended it, but I can definitively say it is India's best loan app after using it. It offers loans up to Rs 10 Lakhs at competitive interest rates. It is easy to get a personal loan apply within minutes, and get the money to use within hours.  MoneyTap MoneyTap is another app that I have used, and it offers loans worth up to Rs 5 Lakhs for low-interest rates based on the partner bank and your credit profile.  HDFC Bank HDFC offers a quick and convenient way of getting a loan up to Rs 40 Lakhs if you are their customer. They allow pre-approved loans with fast approval if you have an income of more than Rs 25,000 per month.  Conclusion Thus, personal loans can help people secure their dreams and achieve their goals when they might not have the means. It enables people not only to dream but also provides them with the choice to take on those challenges head-on and be able to achieve them.  These are some of the best loan apps I have used, which allow me to apply personal loan, and you can use them too to secure the funding to achieve your goals.

If you are looking for immediate personal financial help, then an instant personal loan is the right way to fulfill this need. Long gone are the days when people actually used to ask from relatives for such help. Nowadays, such loans can be availed with just a few taps on your smartphone.  We at Stashfin ensure that all our current consumers, as well as potential consumers, are able to avail of such facilities by sitting in their comfort zones. You can easily visit our official website or simply download the application from the Play Store or App Store.  What is a personal loan? It is basically a type of loan that helps individuals make things happen right now. This means that such loan types are instant, super easy to avail, and helps one help achieve the personal goals they desire.  Remember that this loan is completely different from a mortgage or a car loan. It’s flexible because the potential borrower can use the amount for almost anything and is not bound to use the amount for a particular purpose.  So therefore, whether you’re looking to start a small business, consolidate your existing debts, or handle any unexpected expenses, this loan can be a useful resource.  What are the benefits of a personal loan? Flexibility The prime benefit that this loan type has to offer is flexibility. These are versatile and, as mentioned above, can be easily used for funding a vacation, consolidating debt, home renovation, etc.  No collateral Such loans availed from an instant personal loan app are unsecured. This means that you, as a borrower, need not to provide any collateral to secure the loan. With this, this is more accessible to a broader range of borrowers who may not have significant assets to pledge as collateral.  Fixed Interest Rate They come with a fixed rate of interest, which means that it remains constant throughout the tenure of the loan. This basically allows individuals to budget and plan repayments in an effective manner as it tells how much you, as a borrower, need to pay every single month.  Building of Credit Once you have availed the loan, timely payments can help you positively impact your credit history and credit score. Furthermore, if the consistency remains, the behavior clearly demonstrates your creditworthiness to the lenders and can even improve your chances of obtaining favorable terms for such future loans.  How does instant personal loan disbursal work? Once you submit your application and are able to meet the eligibility criteria, you’ll be informed whether your application has been approved.  Further, depending on the accuracy of the documents submitted as well as your credit profile (includes history and score), the approval could take up to a few hours or even one to two days.  Keep in mind that in some cases, the lender may ask for additional information or even some docs. Once you finally furnish the necessary documents, the application might be assessed. Upon final approval, you’ll receive the instant personal loan agreement and repayment schedule. This’ll contain all the details, such as the amount of the loan, monthly instalment amount, payment date, charges, etc. Lastly, provided you have linked your bank account for instant personal loan disbursal, the money may be transferred directly to your bank account.