Personal Loan: A Quick Way to

Get Fast Cash

A need for a significant chunk of money can arise on many occasions. One
may need some extra cash to have the down payment on the car or home
or one may be lacking a small amount to fund the foreign tour. Whatever
the reason may be, a personal loan is a quick, safe and reasonable way to
have that extra fund which you are in need of.

Why a personal loan process faster than any

other kind of loans
Being Collateral Free
A personal loan is a collateral free loan. It means that such loans don’t
require any kind of security to being granted to the applicant. As there is
no security, no time of the lender is spent on verifying the security or the
asset submitted by the borrower.
Online Application
The advent of the internet has made loan processing even faster. The
borrowers nowadays can apply for personal loan online which is much
faster than the conventional way of lending. The personal loan online with
instant approval has made the loan processing quicker and convenient for
both the lender and the borrower.

Being Paperless
The online application of loan has made the whole loan process become
paperless. The advanced way of applying for a personal loan happens via
smart mobile phones or personal computers. Gone are the days when a
loan seeker had to stand in long queues to fill the loan application then
submitting a file full of documents (which were checked manually by the
lender). Even the needful documents are needed to be uploaded to the
lender’s website. Because of being paperless, loan processing becomes
much faster and easier.

Loan Disbursed To The Applicant’s Bank Account

The next reason which makes a personal loan faster is that the lent amount
is disbursed to the borrower’s bank account. Once the loan is granted, the
loan amount is transferred to the borrower’s bank account which takes
only a few seconds.

E-sign
When you apply for personal loan online, the whole procedure of the loan
goes online including the signature. A personal loan online gives you an
advantage of signing the loan document online through an E-signature.
The e-signature is a much faster and hassle-free way to avail a personal
loan.

The mentioned are the reasons which make a personal loan faster than
other ways of arranging fund. The next question arises that- Which all
lenders are really fast in disbursing the loan?

The question is definitely a genuine question as all lenders are not very fast
in disbursing the personal.
Here some personal loan lenders who are well known for being fast in
processing the loan application.
Finance Buddha
Finance Buddha is a loan agency through which one can apply for a
personal loan online via the mobile application or the website of the
company. The loan amount is disbursed to the bank account of the
applicant within 24 hours of applying for the loan.

HDFC Bank
Once the documents are approved by the bank, this bank claims to approve
the loan application within 10 seconds and the lent amount will be
transferred to the applicant’s account within 4 hours. Getting the desired
amount within just 4 hours is much faster than the expectation of most of
the borrowers.

ICICI Bank
If you need a big amount of loan within a short time then you must reach
ICICI bank for the same. One can avail instant personal loan from ICICI
bank for any purpose. One can avail a loan amount from INR 50,000 to
INR 20 lakhs according to the eligibility of the applicant. The loan
applicant can apply for personal loans online by uploading the needful
documents.

IIFL
IIFL is an Indian diversified financial services company which provides
personal loan up to INR 25 lakhs within minutes. This institution checks
the eligibility within 1 minute, gives approval within 5 minutes and the
loan amount is disbursed within 8 hours of applying for the loan.

The need for Quick Loans can come to any person at any point in life. The
online apply for personal loan is one of the ways which can help you to
overcome the financial emergency. Borrowing the exact amount and
spending it meaningfully make a personal loan best aid to fight any type
of monetary crises.