Скачать или смотреть Short-Term Personal Loans – A Complete Guide

A latest study estimates that India has a credit-eligible population of around 220 million. Out of this, only one-third 72milion are ‘credit-active’ customers or have a live account with a bank or a financial institution. The remaining 150 million customers either don’t meet the age and income requirements or have never availed a credit product. In order to bring more people under the financial umbrella, marketplaces like IndiaLends are trying to meet the demands for small loans. The USP of our platform is the instant approval of loans up to ₹2 lacs. As soon as the approval is given, it takes no time to disburse the amount.

Here are a few more reasons why individuals opt for small-amount personal loans:
→ Minimum paperwork and Quick Disbursal: As mentioned above, short-term personal loans provide quick disbursals. The minimum paperwork process helps in reducing the time taken otherwise.
→ More accessible: Short-term personal loans often cater to new-to-credit individuals and people with low credit score. Therefore, more individuals are now able to get financial help from credit providers.
→ No long-term commitment: Short-term personal loans are provided for smaller amounts and shorter tenure. Therefore, the risks of defaults associated with the borrower are less.
→ No collateral: Small personal loans do not require any collateral and are given on the basis of the customers’ profile. For customers with poor credit score or no credit history, the lenders assess the creditworthiness with the help of the social graph and digital footprints.

When and How to Use Short-Term Loans?
Short-Term loans are mainly used for immediate requirements. Here are a few situations when you can use your short-term loans:
→ To meet cash-flow requirements in business: Small amount personal loans can meet the immediate cash-flow requirements in business. As the loans are quick and instant in nature, it is a great way of meeting fund requirements in emergencies.
→ Medical Emergencies: When in a medical emergency, health should never be compromised. In order to avoid the hassle of applying to different banks and wait to start the treatment of the patient instantaneously, you can avail a small personal loan. Since, With minimal paperwork involved, the funds can be transferred to your bank account in no time.
→ Traveling: Planning a vacation but don’t have money? A small amount personal loan can be your ally in such times. A personal loan will help you plan your expenses at low EMI’s.
→ Home Renovation: There’s always something that can be done to your house. And no matter how much you save, you can end up falling short of ash in the end moment. A small loan can help you cover your expenses in such times.

Read the full blog here- https://blog.indialends.com/short-ter...

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