You had a great day at work and reached home happily. You open your fridge to get a glass of cold water and notice that it is not working. You set out to get a cold brew instead, but realize that your scooty has broken down too. You receive a message on your phone that your credit card bill is due in 2 days. Lastly, it hits you that you are short on funds. There is less cash liquidity. There is an option for online payments everywhere these days. However, you are also low on funds in your bank account and need immediate cash.
What do you do in such a case? You may consider taking a personal loan and get a quick fix to your cash crunch. Here is why Personal loans are a solution to your cash crunch and what its benefits are.
Ease of Access Online
Nowadays, most of the banks and NBFCs have an online portal of their own where loan borrowers can apply for a personal loan online. There are also personal loan mobile apps that can help you apply for a personal loan anytime, anywhere. Indiabulls Dhani has designed a one of its kind personal loan app. Through this app, you can apply for a personal loan online in just a few clicks. This way, you do not have to run out visiting branches to get a personal loan.
Instant Loan Approval
Online personal loans have made the process of availing a personal loan shorter. Once you have entered all the details, the information is verified, and if you fulfil the personal loan eligibility criteria, then you get the loan approval instantly.
Get Money into Your Bank Account in Minutes
If you use mobile apps, then you can complete the loan application faster, the approvals are instant, and so is the disbursal. With Indiabulls Dhani, once you receive an approval, you receive the money in your account in just 3 minutes.
No Stress of Collaterals
Gone are the days when you had to stress about an asset to be kept as collateral for a loan. With an unsecured personal loan, there is no requirement to keep an asset as collateral.
Competitive Personal loan Interest Rates
There are way too many banks and NBFCs in the market, offering unsecured personal loans. This means there are too many choices for you. Hence, these banks and NBFCs offer competitive personal loan interest rates.
Before you jump the gun and start spiraling, stop, and think. Can a personal loan help you with a cash crunch? There are specific pre-requisites, even for personal loan applications. The two most important ones are the personal loan eligibility criteria and your credit score. Every personal loan lender will have a certain eligibility criterion that you need to adhere to. If you fail to fulfill the criteria, then you may not receive a loan approval. To apply for a personal loan with Indiabulls Dhani, you need to be an applicant who is an Indian resident and 21 years and above. You need to be a salaried professional or self-employed entrepreneur. Talking about your credit score, it is an indicator of your credit history and credibility. This score showcases how disciplined you are with your credit payments. If you have these two pre-requisites in check, then you can apply for a personal loan and course your way through a cash crunch.