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7 Questions to Ask Before Applying for a Personal Loan

7 Questions to Ask Before Applying for a Personal Loan

Although loan application and approval process have been simplified, there are many people who are still sceptical about taking a personal loan. The mindset is formed in a way that a loan is always a burden and will incur a debt if not paid on time. Staying well informed about the upgrades happening in the personal loan scenario will help in hassle free loan application online.

There are borrowers belonging to different age groups. There may be students or middle-aged borrower’s seeking a personal loan for the very first time. At such times, borrowers can consider a list of 7 questions before applying for a personal loan:
 
Q.1 How much amount of personal loan do I need?
Q.2 What will be the repayment terms based on the loan tenure?
Q.3 How much interest will be charged on the loan amount?
Q.4 What will be the EMI and will I be able to afford monthly instalments?
Q.5 Is there a processing fee or any hidden charges for a loan approval?
Q.6 Which basic documents are required under loan eligibility criteria?
Q.7 Where and When will the loan amount be credited?

When you have good calculative answers for the above questions. Do consider applying for a personal loan online. Shortlist lender instant loan apps and websites that are currently allowing easy to apply loan procedure and quick approval in 24 hours.

Which app is a Reliable Choice to Register for Personal Loan?

Simply Cash is one of the trusted instant personal loan apps in India that offers paperless, and hassle-free way of getting quick cash loans. The uniqueness of this app is that it allows you to complete the entire loan application without any physical documentation. It is a reliable digital platform launched by Hero FinCorp, one of the fastest growing financial services company in India.

Download the Simply Cash app through Google Play Store to get an instant cash flow up to 1.5 lakh at the tip of your finger. Simply Cash follows an easy process of loan application and disbursal:
 
  1. Register with your mobile number linked to Aadhar card to receive an OTP number for verification.
     
  2. Enter your Aadhar card number or smart card driving license
 
  1. Select the loan amount and tenure through loan EMI calculator
 
  1. Fill in your personal, financial and occupational details through digitized KYC documents, verified in real time
 
  1. Out of the listed banks, select your bank and enter account details in which you want the loan amount to get disbursed.
     
The Simply Cash advantage lies in its low rate of interest that starts with 1.67% per month and affordable to pay on monthly instalments. There are no hidden charges and the applicant doesn’t have to wait for days to get the loan sanctioned.

Hence, when it comes to a personal loan application online, especially for the first time, do prepare a list of questions to avail personal loan easily. If you don’t get answers to some questions, get in touch with the online technical support or customer care numbers for clarity on personal loans.
 

SimplyCash

SimplyCash powered by Hero FinCorp is an instant personal loan app providing cash loans of upto INR 1,50,000 for both salaried and self-employed individuals. Driven by technology and fuelled by innovation, SimplyCash solves instant cash requirements of customers in just a few simple clicks without any physical documentation or meeting. The mobile app is available to users through all popular Android play stores like Google play store, Samsung store, Xiaomi store etc. With one of the most widespread presence, SimplyCash currently offers its services in over 90 major locations in India. Known for a seamless process, instant loan disbursal and transparent pricing - SimplyCash truly lives upto the expectations of being a 'Hero' product.   Note: SimplyCash is a duly registered trademark and is a loan product offered, managed and operated by Hero FinCorp. Hero FinCorp Limited is a Non-Banking Financial Company registered under the provisions of Reserve Bank of India ("RBI") and is in the business of finance and lending.

Accepted Banks:

ICICI BANK LTD HDFC BANK LTD AXIS BANK IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK

EQUITAS SMALL FINANCE BANK LTD KOTAK MAHINDRA BANK LTD IDFC FIRST BANK LTD UJJIVAN SMALL FINANCE BANK LTD BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK RBL BANK LTD BANK OF MAHARASHTRA DEUTSCHE BANK AG PAYTM PAYMENTS BANK LTD CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD AU SMALL FINANCE BANK LTD CITI BANK BANDHAN BANK DHANALAXMI BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK JANA SMALL FINANCE BANK LTD UCO BANK

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SimplyCash is managed and operated by Hero FinCorp Limited, and it follows high data and system security standards.

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