Best Personal Loan App

Today, personal loans have emerged as the go-to solution for salaried professionals and self-employed individuals in a cash crisis. There are also many different types of private loan providers apart from traditional banks and NBFCs. FinTech players are top-rated right now, considering India has the highest FinTech adoption rate globally (87%) compared to the global average (64%). They have also developed a strong reputation for themselves, as their eligibility criteria are more flexible and easier to meet. FinTech lenders also offer loans with better terms as compared to conventional banks and financial institutions. Here are four reasons why you should apply for a private loan with FinTech lenders: 1. Instant Approval When you think of taking private loans from a bank, do you think of instant approvals? No! The good news is that FinTech lenders have changed this completely. Once you download the app / go to their website and fill in a few basic information about yourself (including ...

Buying a vehicle is always a momentous occasion, especially if it’s your first vehicle. Owning a car is seen as a status symbol, something that sets you apart from the herd. It is also a sign of financial stability because if you can afford to purchase a vehicle, it means that you’re doing well reasonably well in life. In India, buying a car is a crucial decision because it not only affects you but your entire family. Vehicle purchases are usually made keeping their needs and comfort in mind. Plus, if you’re upgrading from a two-wheeler/public transportation buying a used vehicle is more sensible as you can save a lot of money. There are also many ways in which you can finance your used car, including private loans . Here are four advantages of using a private loan to finance your used vehicle purchase: 1.You Can Finance the Entire Purchase A private loan is a loan given to you from non-bank institutions. So, loans from your parents, friends, extended family and even angel investor...

Today, there is no dearth of loan providers if you require emergency short-term funds. Thanks to the internet and its amazingly vast reach, you can avail a loan online from the comfort of your home, without having to step out. While traditional banks still exist today, with their loyal customer base, a number of young, salaried millennials like you and I are choosing to explore newer options even when it comes to borrowing money. NBFCs, FinTech companies, and private loan companies are also being considered as a source of short-term funds. While there are many reasons for this, the convenience offered by these lenders, along with freedom from the myopic lending standards of banks (your credit score is the prime factor that decides your eligibility) are the two main ones. If you cannot qualify for a personal loan from a bank (maybe because of a low credit score), you can also try approaching a private lending firm. We’ve listed three advantages of applying for a private loan over...