Benefits of Getting Personal Loan from an Online Loan App

The online market has increased convenience in every field. Whether buying clothes, groceries, movie tickets or getting a personal loan, everything is now done online in a few minutes. Plus, the ongoing Covid-19 pandemic has increased the dependency on digital platforms due to social distancing. Most of the people conduct work-related meetings, gatherings, classes, online, using various video apps.

Nowadays, there are hundreds of online apps available for different services. These are easily downloadable and very useful in many ways. In the lockdown period, where financial crunch has increased in various sectors, getting a personal loan has become the need of the hour. Several online instant loan apps are available in the market to help in completing the loan application process with ease. These loan apps are secured and allow you to acquire an instant loan for various purposes seamlessly.

So, if you are hesitant about getting a loan through an online app, it will be best to download one and explore the easy steps involved in acquiring an instant personal loan. Simply Cash is one of the latest personal loan apps in India, ensuring quick loan sanction and disbursal within 48hours. The feature of paperless documentation makes the Simply Cash app hassle-free yet secured.

Features and Benefits of Online Loan apps

Here are some of the reasons that will convince you to apply for personal loans online:
 
  • No Physical Documentation is required. Verification is done through submission of KYC details and income statements.
     
  • Quick Processing, unlike traditional loan application process. The online loan application is faster and takes onlya few minutes to complete. Verification of KYC details is done in real-time, which speeds up the sanction and disbursal process, generally in 48hours.
     
  • Loan EMI Calculator helps you to set an EMI as per your capability of spending per month. Enter the loan amount, interest rate and tenure. On submission, within seconds, an EMI figure is suggested. It can be changed till you find a suitable EMI figure. Results derived from EMI calculators save considerable time spent in manual calculations, that may also lack accuracy.
     
  • Automated Repayment Method automatically debits the EMI amount every month on the approved date.It eliminates the chances of missed/delayed payments.
     
  • Instant loan apps approve Small Cash Loans from 50,000 to 1.5 lakh quite easily. These are personal loans that are quickly approved even if the applicant has applied for the first-time.
     
  • Rate of Interest for a personal loan is generally fixed and remains constant from start to end. It keeps the borrower at bay from facing the brawl of fluctuating interest rates.
     
  • 24x7 availability is the most obvious advantage of online loan apps. It is handy and can be used anytime and anywhere, saving your time and effort whether travelling, at work, or home you can apply for personal loans with a click of a button.
     
  • Online apps are safe to access and do not provide personal details, unlike offline personal loan database collection. A borrower may prefer an online loan app rather than an offline medium of acquiring a loan that may be slow and cause a delay in attending to your financial emergencies.
     
  • Ease of comparison stands true in this case as borrowers are free to check different loan apps, their features, interest rates and terms for loan approval.
 
Now that you know how useful loan apps are, go to the Google Play store and download a SimplyCash loan app to begin your loan application process.
 
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