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How to Find the Best Personal Loan for You

How to Find the Best Personal Loan for You

In the current scenario, where businesses have crunched and people are losing their jobs, the daily expenses have still not reduced. So, how are you going to manage the no-income or low-income phase. What if an emergency strikes at this hour! When savings are less and needs are more, it is a good idea to get a personal loan help to balance the shortage of finance.
 
Being an unsecured loan type, no collateral or security is required against the loan. But which is a suitable personal loan for your purpose!
 
Check with trustworthy financial institutions that have expanded and increased in recent years with more and more people looking out for a personal loan for various reasons – luxurious wedding, foreign trip, paying off credit card bills, home renovation and many more objectives.
 
Let’s see how can borrowers identify a reliable personal loan facility.
 
 
Deciding Factors for Short listing a Personal Loan
 
  • Interest Rate - If you are a salaried person with a limited income, the first thing you should consider while taking a personal loan is the interest rate. Look for attractive and affordable interest rate from a reputed money lender/financial firm. Paying off high Interest rate will disturb your monthly budget. So, look for an interest rate that doesn’t make your loans repayment stressful.
 
  • Collateral Free - Borrowers who do not want any security, pledge or assets submission should opt for personal loans. This saves your property and personal assets from getting mortgaged.
 
  • Online Application – Applying for personal loan online through lender’s official website or cash loan app helps in faster processing of loan. Online mode of loan application acts as a boon in times of collating emergency cash.
 
  • Minimal Documentation - Best personal loan is the one that demands minimal documentation. Thanks to the online mode, documentation is accepted in a paperless format either in soft copies or Aadhar Card/PAN card numbers. The best personal loan could be from your existing lender where you don’t have to bother about too much verification and documentation, as they already have your entire information.
 
  • Flexible Repayment Scheme - Another important factor you must consider while deciding a reliable personal loan is the flexible repayment option. This enables borrowers to concentrate on other important issues rather than living in the stress of loan repayment. Using the EMI calculator within the website or app, borrowers can set EMIs as per their repayment ability.
 
  • Low Processing Fee - Check for the lenders offering interest rate with low processing cost. Leading financial institutions offer a very low processing fee in a range of 0.5 - 2.5% on the total cost of your loan. Opting for low processing fees will lessen your loan burden.
 
Simply Cash Instant Loan App Online – Why is it Good for Personal Loan?

Simply Cash is a technologically advanced instant loan app that can be trusted to acquire quick personal loans. Borrowers can avail a maximum loan of 1.5 lakh with minimal documentation and no hidden charges.
 
It forms a user-friendly choice for personal loan because Simply Cash is easily downloadable and free on Google Play store. Manage your loan account on the Simply Cash app and stay updated about loan status, interest rate and repayment dates, simply via your smart phone.
 

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 IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK KOTAK MAHINDRA BANK LTD

IDFC FIRST BANK LTD AXIS BANK BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK INDIAN BANK RBL BANK LTD DEUTSCHE BANK AG CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD CITI BANK BANDHAN BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK UCO BANK

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