A personal loan helps us meet unexpected expenses or get that extra income for that something extra; an impromptu holiday, the latest gadget or even that much planned hair treatment.
Sometimes Personal Loans could be the only financial option available, for any personal reason.
But it’s not always easy to get personal loans from a bank. There are 4 typical requirements for a bank loan but, trust us when we say that you can do without them and easily get a personal loan.
- Only banks provide personal loans
Up until some years ago this was true. But with NBFCs and P2P lending taking off in India today, even you can become a lender. Digital Lending makes it easy for individual lenders to lend money to those who have paid jobs and ensure repayments .
- A mountain of paperwork
Without paperwork it is tough to get any loan. That’s true. But the dossiers of application forms, signatures on undertakings, documents of property, salary slips, and previous loan clearances can be done away with. Simply look out for a digital lending platform.
- No CIBIL, No Loans!
Unlike banks where you are judged on your CIBIL score, digital lending platforms look at your current income, spending behavior and social profile to evaluate your creditworthiness.
And, successful closure of your loan helps build good credit history to apply for more loans in the future.
- Waiting, waiting and more waiting!!!
The traditional method of an agent coming to your doorstep, collecting your documents, filling endless paperwork, verifying the proofs, calling you to the bank to fill up discrepancies, re-verify the documents and then approval of loans all takes a while.
Digital Lending Helps!
Today, all you need is a digital lending website. Visit the site, fill in your personal details, attach your bank statement PDF and get loan approval within hours. It is easy, quick and hassle-free.
Even better, no prepayment penalty is levied for clearing a personal loan before completion of tenure.
So what are you waiting for? If you need a personal loans, get online today!