The increased availing of secured, unsecured and consumer durable advances contribute to the expanding Indian consumer credit market. As per the recent 2018 reports, these sectors underwent a significant growth of 31.3% as compared to 2017. Subsequently, the instant personal loan market witnessed a rise in availability due to its no end-usage restriction feature and an attractive rate of interest. Thus, the sanctioned sum can be used to meet the tailored personal and professional financial requirements of individuals.
The amount so obtained could be conveniently used to fund the diverse expenses involved in establishing or expanding a business, pursuing higher education abroad, and arranging for weddings. Considering the diverse utility of the sum, reputed NBFCs launched its personal loan apps to streamline the accessibility of such loans.
Advantages Of Applying For A Personal Loan Via Mobile Apps
Apart from being a uniform platform that serves as the one-stop solution for post-loan services, personal loan apps offer its users with a simple user interface. This easy-to-use accessibility feature of the app caters to diverse requirements of all clients.
While such mobile applications are available across both iOS and android platform, they offer diverse details on a variety of financial products and can be easily downloaded from play stores.
- Easy Access To Available Offers
The mobile application for instant personal loan offers its users with multiple add-on benefits –
The loan app from reputed NBFCs like Bajaj Finserv offers its existing clients with pre-approved offers on several financial products that include both unsecured advances like personal loans, business loans, etc. and secured credits like home loans. These offers ease the application process to avail financial assistance.
Personal loan apps designed with a user-friendly interface offers users with an option to avail drawdown loans or additional credit with ease. It is especially beneficial in case borrowers require add-on financial aid to meet any unforeseen monetary deficit.
- Easy Accessibility Of Personal Loan Details
Availing Personal Loans from leading financial lenders like Bajaj Finserv ensures that borrowers meet their diverse expenses with the high-value sum sanctioned. Following this the Bajaj Finserv App– Experia offers easy access to the credit’s features –
- Attractive rate of interest
- Flexible repayment tenor ranging from 12 to 60 months
- Zero hidden charges
- Minimum documents required
- Nominal paperwork
- High credit amount of up to Rs.25 lakh
Subsequently, availing the loan app of this NBFC ensures faster loan processing and easy accessibility to the loan account. Borrowers can also earn additional benefits from the hassle-free application process by providing a few details while logging in on the app –
Occupation Type – self-employed or salaried
Customer Status – new or existing customer
Following this, customers have access to the customised instant personal loan offers as per their eligibility criteria and hence have suitable access to the tailored financing options.
- Convenient Navigation Across The App
Keeping in mind the convenience of prospective users, the interface of such apps has been kept easy. It promotes easy navigation across such apps and helps borrowers track various aspects of their financial deal
- EMI payment
- Information on future payments
- Downloading of financial statement
- Viewing statement download
- Information on closed and existing loans
- Access to offer information on the app’s home page
Additionally, such instant loans app provide borrowers with an option to choose their preferred language for the loan details. Potential borrowers must lookout for the best apps by lenders that will help them keep track of their financial transactions, and provide convenient options to navigate across the app.