7 Benefits of Having a Loan App on Your Mobile Phone
As technology spread through every aspect of our lives from social media to healthcare and money matters. Finance apps have made it easy to transfer money to a friend or deposit a check by snapping a photo of it with your mobile phone. Over the past decade, these financial apps have blended well into the fabric of our day-to-day life. The Banking and Finance sector has progressed massively in recent years, now financial institutions have their own apps through which anyone can avail loan effortlessly. Let’s have a look at some of the benefits of having a personal loan app on your mobile phone.
- Meet Your Financial Needs
A personal loan can be used to meet various financial needs such as paying for children’s education, managing wedding expenses, planning for a vacation, etc. However, It’s best to take a loan when you actually need it. Personal loans are an easy way to avail instant cash. But keep in mind these are debt that needs to be paid off. So, you need to avoid temptations at all costs, by putting the money to good use. You can use the loan amount to clear your outstanding bill and other financial obligations. Therefore, applying for a personal loan app can be extremely handy when you need money in such situations.
- Quick and Easy Process
A few years ago, if you had to avail a personal loan, you were required to visit the bank to apply for the loan. The entire process from loan application to disbursal of the amount was time-consuming. Also, the documentation process was hefty. With the introduction of mobile apps, availing a personal loan has become a completely hassle-free process. Paperless and minimal documentation have made the process even simpler.
- Instant Cash Disbursal
You can check your loan eligibility online. If you satisfy the eligibility criteria, you can begin your loan application process by filling an online form and uploading the required documents. On verification of the documents, your loan application is approved, and the amount is credited in your bank account. Since the entire process is carried out online, it saves a lot of time. By using the Finserv MARKETS app, you can avail a personal loan within 24 hours.
- Track Your EMI Payments Effortlessly
Usually, to track the status of your loan application, you had to contact the customer service department of the bank or financial institution. But with Loan apps, you can easily keep a track of your loan status online within seconds. You can easily check other loan details like your Loan EMI dates, outstanding debts and the repayment history.
- Loan Apps Are Safe And Secure
- Easy To Use
Loan apps are built in such a way that makes it quite easy to use and understand even for first-time users. The Finserv MARKETS app has a very smooth user interface and can be downloaded on both android and iOS platforms. The app is well-designed with attractive icons, modern graphics and easy navigation for the app’s functions and features.
- Check Your Credit Score
Your CIBIL report keeps a track of your past repayment on loans and credit cards. Lenders run a check through your past credit history along with your present activity to determine your loan repayment intent in the future. Your credit score is an important factor to be considered when availing a loan. The lenders make the final decision based on your CIBIL Score. If you have a low CIBIL Score your loan application might get rejected or you may be charged with a high-interest rate on the loan. You can check your credit score for free on a loan app. You can also obtain your detailed financial report and get suggestions that can help you boost your credit score. This will give you a better understanding as to whether your personal loan application will be approved or not.
With the constant rise in the number of fintech apps in the market, such apps have now become available to both individual users and businesses. The Finserv MARKETS app is one such mobile app that is designed to cater to all your financial needs, such as money management, carry out digital transactions and make investments. You can apply for a Bajaj Finserv Personal loan you get flexible repayment tenure with easy access to EMIs over a period of 12-60 months. There are no hidden charges on your loan and you can easily access your loan account anytime, anywhere. Their hassle-free online application process with minimal documentation of loan makes it an ideal choice for getting a loan.
With personalized pre-approved offers, instant approvals, and quick disbursal of loan, on the Finserv MARKETS App, you can get the most attractive interest rates on loans. This app is an efficient and practical way of looking after your finances.