What makes a loan app so useful for obtaining personal loans?

What makes a loan app so useful for obtaining personal loans?

November 19, 2021 Off By Tracy Lerry

Personal loans are offered by banks or financial institutions without any collateral to meet any of your needs within the terms of the loan. They have turned out to become an easy source of finance for anyone, including salaried individuals and businesspeople. According to a study personal loans have grown 3.8 times by volume and 23 times by value in terms of disbursements from 2017 to 2021. Offering a personal loan, banks help you meet any financial emergency by applying and getting it instantly.

The IDFC FIRST Bank Instant Loans App helps you get personal loans online without any hassle.  interest rates. Using the app, you can apply for personal loan instant for any purpose like:

  • Medical requirements 

The IDFC FIRST Bank Loans App can help you apply for an instant loan to meet any medical emergency at the lowest personal loan interest rates. You can apply for it by downloading the IDFC FIRST Bank’s Loans App from the App Store or Play Store and provide all the essential information to get approved personal loan bank offer in a few minutes. Once you have chosen the flexible EMI repayment plan, uploaded the documents and gone through the successful verification process, you have the loan amount credited to your bank account. 

  • Marriage

A wedding in India is quite expensive that you may have to use all your savings, and still you may have to arrange funds to meet other incidental expenses connected with it. An instant personal loan in bank for meeting marriage-related expenses come for a low interest rate. The IDFC FIRST Bank Loans App helps you avail an instant loan for marriage easily.

  • Higher education

With a personal loan instant approval on the loans app, you can have your children go for higher studies or meet other expenses related to studying. They include travel tickets, accommodation, tuition fees and living expenses. 

  • Home renovation

An instant personal loan can also be used for renovating your home. This includes maintenance and refurnishing costs, which you may find difficult to meet on your monthly income. 

  • Debt consolidation

You can pay off all your existing debts with a single personal loan. This helps you avoid the difficulty of repaying multiple debts.  

  • To buy a vehicle

With the IDFC FIRST Bank Instant Loans App, you can apply for a secured loan to buy a home or vehicle. The app facilitates easy documentation, approval and disbursement of amount online.

Get to know some significant features of the Loans App

The IDFC FIRST Bank Instant Loans App is designed to help you avail a personal loan instantly through: 

Minimal documentation

When it comes to documentation to get an unsecured or secured loan, you need to upload the digital copies of your PAN card and Aadhaar card or Voter’s ID for identity and address proof, and the last three-month bank statement. However, this is not the case with other loans like a home loan or self-employed professional loan, which asks for other related documents. 

Quick approvals

Once you submit the instant loan application online, an executive from the support team will contact you and process the application until the disbursement of the loan amount. This may take a few hours or days depending on your circumstances. The popularity of personal loans online depends majorly on their quick approvals.  

Track the progress

The Loans App helps you check the status of the loan application online. You can just log into the app and click on the ‘In Progress’ tab to know the status of your loan application. 

Calculate your EMI

Using the inbuilt personal loan instant EMI calculator, you can find the affordable EMI amount and choose the tenure.

If you are looking for an instant loan, don’t wait, download the IDFC FIRST Bank Loans App now.