Instant Cash Loan – How to Get Instant Cash Loan Online?Nowofloan
When it comes to get instant cash loan, first of all, Funds are not just an essential commodity to meet your everyday needs. Today, it can be termed as an enabler that helps you get things done. Be it meeting the expenses of an unforeseen emergency, going on a holiday, or purchasing your dream home, you need to have access to adequate finance to reach these financial goals.
What is an Instant Cash Loan Or Instant Personal Loan?
Despite meticulous planning, it is possible that you may be in need of additional finance on short notice. To tide over such instances, experts recommend that you always have a readily accessible source of funds to meet any unplanned expenditures in the short term.
That said, there can be situations where you may not have access to your funds immediately or may have fallen short of what you actually need. That is when the Instant cash loan or Instant Personal Loan enters the scene.
Why you should get Instant Cash Loan Or Instant personal Loan?
Instant cash loans or Instant Personal loans are a truly modern source of financing your expenses when you run out of cash. It is especially helpful when you need a small amount urgently and doesn’t have enough time to wait for your salary day. Alternatively, you need a small amount and are confident that you will be able to repay the loan within a few months (less than a year). Hence, be it paying your rent, utility bills, medical needs, or going the extravagant route to upgrading to the latest gadget, it serves all kinds of consumer needs.
What are the Features of an Instant Cash Loan or Instant Personal Loan?
- Small Loan Amount: Generally, instant cash loans can be availed anywhere between Rs. 5000 to Rs. 2 lakhs. Basically, the maximum amount a person can get is usually upto 3 times of his/her monthly salary.
- High Interest Rates: While lenders may advertise these loans at surprisingly low interest rates, it should be noted that the interest rates are calculated on a per month basis. This makes your loan very expensive, especially if you select a tenure of more than 3-6 months.
- Fully Online Process: Personal loan portal providing such loans follow a fully online process. However, it should be noted here that before choosing a lender, it is advisable to research the lender thoroughly and ensure that they are licensed.
- Instant Loan Disbursal: If the applicant profile has been approved by the lender, the instant loan can be applied for and disbursed in a very short time span.
What is the Alternative to Instant Cash Loans or Instant Personal Loan?
Here are a few circumstances under which instant cash loans may not be a suitable option:
- You need a higher loan amount
- You need a longer tenure so that your monthly EMI is manageable within your budget without stretching it.
- You would prefer a lower interest payout
- You have a good credit score and profile, and can easily negotiate better terms
General eligibility to get instant cash loan from Nowofloan.com are as follows:
- You are a resident citizen of India
- You are between 21 and 60 years of age at the time of loan application
- You are a salaried employee at a private or public enterprise or demonstrate a regular source of income for self-employed individuals
- You have a minimum CIBIL score of 750
- Salaried applicants must have a minimum work experience of at least 1 year, with at least 6 months in the current organisation.
Please note that your overall eligibility will also depend on your profile and requirements, and other factors such as repayment capacity, credit history, nature of employment, etc.
How to Apply For a Instant Personal Loan?
If you have successfully met the personal loan eligibility requirements, you may proceed to the next stage of the application process.
(1) Quick registration (2) Check eligibility (3) Buy membership card (4) Submit documents (5) Get sanctioned (6) Receive fund
Based on your requirement, it is advised to carefully select the right product. To get Instant cash loan may be a good choice if you need a very small amount that you can easily repay within a few months. Else, a personal loan may be the better choice.
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