Can I take a Loan from Mobile Loan App?Since mobile phones became smarter, many tasks turned easier online. Whether, it is banking, shopping, learning, gaming, or lending money, everything is possible via mobile loan apps available on Google Play Store for easy download. So, yes! It is possible to take instant personal loans via a mobile loan app.
Mobile loan apps are designed in a user-friendly manner to facilitate easy loan applications even for first-time borrowers. The process, eligibility criteria, and loan features are all explicitly defined on the loan app. So, before you start with a mobile loan online, it is good to first check the loan eligibility calculator to confirm the eligibility criteria based on age, income, employment, and any previous debts.
With mobile loan apps, borrowers have clarity in hand and loan amount in their bank account within a working day. Nowadays, lifestyle is such that taking out time especially to visit the bank or lender’s office for a personal loan is time-consuming. Mobile loan apps have actually simplified the process and made instant loans quite accessible online.
Why should borrowers choose mobile loan apps for instant loans?
Features and benefits of instant small cash loan available on your mobile
No collateralThis means no security against the loan is required for mobile loans. Your monthly income is your only collateral in such types of loans.
Real-time approvalWithin seconds the loan is approved on real-time verification of submitted documents.
Same day disbursalInstant cash loan gets disbursed in the registered bank account within a single working day.
Flexible repaymentMonthly EMIs can be paid as per your convenience within a given tenure.
Loan eligibility calculatorYou can decide on the loan amount, tenure, and EMIs using the in-built EMI calculator in the app.
Minimum paperless documentationNo physical documentation is needed. The documents required are limited such as the Aadhaar card & PAN card are mandatory to get an instant loan via mobile.
SimplyCash Mobile Loan App in India
SimplyCash instant loan app is a useful platform offering mobile loans in a range between Rs.50,000 – Rs.1,50,000. The procedure for applying mobile loan is easy and secure. Just download and register on an online instant loan app from Google Play Store. Fill in the information, including your details, address proof, employment details, and submit for real-time verification.
Overall, mobile loan apps are a good source to apply for a loan online. Now, it’s a personal choice whether you want a short-term loan or long-term loan, depending upon the urgency of finance. If there is a financial emergency, mobile loan apps are an ideal choice, as the time taken for loan approval is quite less.
Identity proof, address proof, and income proof are required to get a personal loan via mobile loan apps. Keep ready your Aadhar Card, PAN Card, and last 6 months bank statement for verification of the borrower’s profile.
So, all the reasons show a favourable drop towards mobile loan apps. Not restricted to a specific purpose, mobile instant loans can be used for a variety of financial reasons, including emergency situations.