Personal Loans Also Work as a Bridging Loan for Debt Consolidation. Here’s how!
Debt can be a great thing when managed carefully. It means you invested your money to pay for something that has a long-term value. For example, a home or higher education can boost your net worth and ensure a better living standard. Problems arise when a good debt turns into a bad one. This means you are no longer able to fulfil the obligations like the outstanding balance. Having a hefty debt can lead to serious financial woes like being unable to save money, missing bill payments, or ending up borrowing more money to survive.
An instant personal loan can pull you out of this financial situation. The top lending apps of India offer quick loans to salaried individuals. The funds are disbursed from 3 months up to 1 year. It serves all your needs, including paying off debt, hassle-free. As a result, you are less likely to feel the burden even in times of job loss and health care concerns.
How Does a Personal Loan Work?
Based on your requirements, you can borrow up to Rs. 3,00,000 with a maximum tenure of 365 days. The entire process is carried out on the mobile app. All you have to do is download the personal loan app and set up the account. What makes them an attractive option is that no collateral or security is needed. This is a relief when you already have existing debts. The lender approves the loan based on your credit score, income, and payback history.
You will be required to upload self-attested copies of necessary documents. This is a primary requirement for a successful application if you need a personal loan. Genuine documents will ensure faster processing, approval, and disbursal. As a result, there are minimum chances of rejections and the loan amount will be disbursed to your account within a short period of time.
Why Choose a Loan from a Fintech Company?
Young professionals can borrow from CASHe without having to worry much about having a high credit score. A unique feature is SLQ, a proprietary tool of CASHe that determines your credit score. This makes it easy to come out of a debt trap without affecting your daily needs. Now you can clear off the credit card balance, student or car loans or a mortgage stress-free. Your loan amount is spread over convenient EMIs to be paid at the end of every month. This gives you a chance to arrange for finances without paying extra charges.
If you need a personal loan without hassle, avoid late payments. You might have to pay a penalty fee for every delay. Otherwise, a personal loan from lending apps is the best possible option to get rid of debts.
