There can be multiple instances in your life when you need instant access to cash but you do not have it at the time. This urgent need for cash may lead you towards various financial schemes and you could end up falling for one that might not meet your needs. One of the safest options, when you need liquidity in almost no time, is to go for an instant personal loan.
Here’s a bit more about it, how to get it and some factors that you need to remember before you apply for it.
What is an instant personal loan?
Personal loan is a type of unsecured loan that can be used for a variety of purposes, such as consolidating debt, financing a large purchase, or covering unexpected expenses. Personal loans are typically offered by banks, credit unions, and online lenders, and the interest rate and terms can vary depending on the lender and the borrower’s creditworthiness.
In general, personal loans require the borrower to have a good credit score and a steady source of income. It’s important to carefully compare offers from multiple lenders and consider the total cost of the loan before committing to borrowing.
How to get an instant personal loan?
Getting an instant personal loan is quite easy, provided you go for the right lender. We would suggest choosing Airtel Thanks to apply for your loan. Why?Because the entire process is very streamlined.
Here are all the steps needed to apply for a personal loan from Airtel:
- Firstly, download the Airtel Thanks app on your smartphone.
- Login with your phone number.
- Now go to the ‘Shop’ section of the app and click on the ‘Financial Services’ tab.
- You will see a ‘Personal loan up to ₹5 lakhs’ button here. Click on it.
- Up next, enter your PAN card details accurately to get the best offer.
- Then, put in your bank details where you want to receive the loan amount.
Once you have completed all the formalities, the bank officials will run a mandatory KYC in the background. When this check is done, your amount gets instantly deposited into your account. The whole process will take less than 24 hours to complete.
Benefits of choosing Airtel Thanks for your instant loan
- The entire process is completely paperless.
- Approval is granted quickly so that your instant personal loan is indeed instant.
- Airtel also provides users with flexible EMI options to return the amount without additional financial stress.
Things to remember before you borrow money:
- It is better when you take loans for the short term as you save up on interest rates.
- Do not borrow an amount that you cannot repay. This will affect your credit score
- Pay your EMI dues on time to avoid penalty charges.
- Do not take loans to indulge in shopping sprees. Only apply for instant loans when you have a genuine need for liquidity.
Therefore, apply for instant loans, use your money judiciously and pay back on time. Returning your borrowed amount will also help build your credit score. We hope this blog provided better clarity on your doubts and queries if any.