3 Reasons You Need to Get a Salary Advance from an App

When it comes to borrowing loans in order to meet sudden, unplanned financial needs or to arrange funds for a large emergency, there are two options for borrowing money – personal loans and salary advances. A personal loan is an unsecured loan that you can avail to take care of a variety of expenses, without any worry because it is an unsecured form of borrowing. Moreover, banks do not monitor the way you use the funds of a personal loan. In a similar vein, salary advances also let you meet a variety of expenses, but the only change being that this is an advance on your future salary. There is a contract between your employer and yourself now, which is a good thing, as you don’t have to look elsewhere for money. Nowadays, more and more companies are tying up with salary advance companies that operate through an app. Here are three benefits you get through such a service:
1. Economies of Time and Money
If you want an advance on your future salary and if your company has tied up with a provider which has their own app for the same, things couldn’t get better. You save a lot of time and money this way, as the entire loan application process happens on the app itself. There will, most probably, be a salary advance form for employees that need to be filled, and that’s it – you can avail an advance salary based on the various loan ticket sizes and repayment tenures given on the app. Everything happens on your phone, and you don’t go out of your office.

2. Instant Decision

The good thing about availing a loan through an app for advance salary is that after uploading all the necessary documents and filling the application form, you know instantly whether you’re eligible for a salary advance at that moment or not (if not, you may need to re-apply after some time). If you are eligible, then you also get to know the maximum limit that you can borrow. This saves you time and unnecessary stress worrying about where you’re going to get much-needed funds from, in case of an emergency. All the necessary information will be lai out on the app itself. 

3. Convenience

This is the kicker when it comes to discussing the benefits of borrowing from an app. Since the entire loan application and disbursal process happens through an app on your smart phone, you can avail a salary advance from anywhere – even in the comfort of your home. You don’t even need to be in office to be able to do this. Of course, you should have all the relevant information pertaining to the app from your company (try contacting the HR department) before getting started.

Wrap Up
   
The above points highlight only three of the many benefits of borrowing a salary advance via an app on your smart phone. Just be sure to borrow only when necessary, and what you really need, because a loan still needs to be repaid (with interest) at the end of the day.

           

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