Financial emergencies don’t knock on the door before arriving. Therefore, you should manage your finances better and keep provisions for such situations. However, if you are short of funds and your savings are exhausted, a personal loan can come to your rescue.
Why opt for a personal loan?
Personal loans are the best options for individuals looking for a big amount in one go instantly. These loans are unsecured in nature and therefore, don’t require the applicant to present collateral for the loan application. The borrower should simply have a good credit history and score, with relevant documents to get the loan sanctioned by the lender. Also, these days there are lenders online (other than traditional banks) who offer personal loans with a 100% digital process. The Airtel Personal Loan or Airtel Flexi Credit is one such option. We will talk about this further in the article.
Personal Loans are approved instantly
Personal Loans, since designed for financial emergencies, are approved instantly by the lender if the borrower’s documents and credit history are in place. Airtel Flexi Credit personal loans are approved within 24 hours only!
Minimum Documents are required
A personal loan application only requires basic documents like identity proof, proof of address, bank statement, salary slips, and more for special cases. Self-employed and unemployed individuals have a different set of documentation criteria. You can ask the lender for more details. Therefore, it is easy to get a personal loan quickly in case of a financial emergency.
Requires no collateral
Personal loans are unsecured loans which means you don’t need to show any collateral to acquire the loan. If you are in a financial crisis, it might be difficult for you to show assets, etc., to procure a loan. Therefore, a personal loan can help! Make sure your credit score and payment history are good to get instant approval for the loan.
Simple application process
Since there is no need for collateral and extra documents for a personal loan, the application process is quite simple. Many creditors offer to complete the whole application and verification process from the comfort of your home. Isn’t that convenient during a financial emergency?
The loan amount is given in one go
Loans like home loan, sanction the loan amount at different stages of construction or acquisition. Whereas the personal loan amount is disbursed by the lender in one go. A big sum of liquid money in your account can really help you face a financial emergency head-on!
There are many types of personal loans available in the financial market. Make sure you conduct thorough research before applying for one. Look for comparatively lower interest rates and always enquire about the processing and other fees. Don’t panic during a financial emergency! Stay calm and clear-headed to make better financial decisions. After all, services like Airtel Flexi Credit are always there to help you out! Good Luck!