Know All About Personal Loan DisbursalA personal loan is one of the most appropriate sources of getting prompt finance for various personal and professional reasons. Now with digital loan apps in hand, the loan approval and disbursal are quick like never before. A personal loan is quite flexible and can be availed with fewer formalities and documentation. It is available for both salaried and self-employed individuals.
Over the years, financial institutions and NBFCs understood the need for quick disbursal and encouraged the development of instant personal loan apps. The conventional form of personal loan used to be time-consuming and involved lengthy paperwork. So, today borrowers have accepted instant personal loan apps for a quick disbursal generally within 24 hours in the registered bank account.
HeroFinCorp, a financial giant in India launched SimplyCash, an Instant personal loan app with a 100% digitized process to meet all the urgent financial needs Borrowers using SimplyCash can expect a timely disbursal of the loan amount within one business day.
A personal loan app is useful when the approval and disbursal are done on time. If the financial urgency is not met on priority, it means the disbursal time taken is not instant. So, choose the personal loan app wisely based on speedy disbursal.
Features and benefits to know all about personal loan disbursal
Easy Login and sign-in methodSimplyCash loan app is designed with a simple mechanism of an easy loan application, real-time verification, and same working day disbursal.
Instant loan approvalAs the name suggests, ‘instant loan’, SimplyCash is actually instant in personal loan approval and disbursal of a loan amount between Rs.50,000 to 1.5 Lakh.
Paperless documentationSimplyCash completely involves a digital process from start to end. So, even the document submission and verification are paperless that involve authentication of KYC details and income documents.
Instant disbursalThe final disbursal should be quick is all that matters throughout the process. After submitting the loan application and verifying the required details, the loan amount is credit to the borrower’s bank account.
Automated RepaymentNot only is the loan disbursal easy but even the repayment of EMIs is easy through an auto-debit option. It deducts the set EMI amount every month as per the schedule.
Required eligibility criteria for personal loan disbursalAs per your eligibility criteria for a personal loan, you will be informed whether. your application is approved or not. If the eligibility criteria meet the SimplyCash loan terms, loan approval is instant and disbursal is done on the same working day within 24 Hours:
- Borrower’s age limit should be between 21 - 58 years
- Borrower’s minimum monthly income should be Rs.15,000/-
Required documents for personal loan DisbursalMost people avoid personal loans for the fear of a lengthy documentation process, but the SimplyCash instant loan app has made it simple and hassle-free with its paperless documentation process making personal loan disbursal instantly into your account.
- E-KYC documents like your Aadhar Card/PAN Card/Smart Card driving license
- Six months bank statement is required for salaried and self-employed individuals
After the loan disbursal, the borrower will receive a formal confirmation letter of the personal loan details.