The personal loan is the most preferred option to meet your urgent needs. I can avail loan for just any reason such as vacation financing, wedding, medical emergency, renovation of a house, education financing, and the list is long.
All I need to do is look for certain benefits that I can avail while applying for personal loan.
I can apply for a personal loan for any emergency; options are many and not restricted.
No collateral is required
It is an unsecured loan, so it requires no collateral. A personal loan is based on credit history and repayment capacity of the applier.
The loan gets approved with minimum documentation such as address and identity proof, photograph, salary slip, bank statement, and credit report. Nowadays online loan application facility is also available. So I can opt as per my choice.
Presently, it takes few hours for loan disbursement. When the bank is satisfied that I can pay the loan within the stipulated time, they approve it in no time.
Fixed rate of interest
I have to bear fixed interest rate from start to the end, and that means throughout the tenure. The rate of interest is applicable as per my eligibility.
There is the flexibility of tenure ranging from 1-5 years. I can choose the tenure as per my choice and ability to pay off the loan.
Easy EMI facility
Easy EMI facility is also available in personal loans. Equated monthly installments would be of great help to repay the principal amount.
Bank will check the eligibility criteria such as my age, monthly income, nature of employment, employment term and credit score and if they are satisfied in all respect, they approve the loan.
My perfect personal loan facility is http://money24.fi, therefore, hassle-free, and I do not need to worry about my emergency anymore.