3 Simple Steps for Loan Procedure
Last updated: Mar 03, 2021, 12:43 PM ISTWith the introduction of loan application online, the number of lenders offering instant personal loan has been increasing. Undoubtedly, the technological upgrade in the credit sector has simplified the loan borrowing procedures. People of different age groups use smart phones comfortably so why not apply for a personal online and save on time. The data submitted on instant loan apps and websites are 100% secured. So, if you there is an urgent monetary need right now, visit a reliable personal loan app and start the loan procedure in easy self-explanatory steps.
HeroFinCorp, one of the leading financial companies known for offering numerous loans, has launched “Simply Cash”- an instant personal loan app online that follows a simple loan procedure on a fast track. Simply Cash personal loan can be availed for several reasons like wedding, home renovation, travel, medical emergency and others.
For urgent cash needs, Simply Cash can be of good support with a loan limit ranging from INR 50,000 -1,50,000 with affordable interest rate. Let’s have a glance at the 3 simple steps to avail personal loan via Simply Cash:
- Download Simply Cash from Google Play Store
- Fill in the application form with your personal and employment details
- Use the loan EMI calculator by entering the required loan amount, tenure and percentage of interest. This will derive an EMI figure that you can reset shifting the variables.
- Hassle-free Documentation in a Paperless Format
- Enter your Aadhar card number linked to your mobile number
- PAN card
- Driving License/Smart card
- In the absence of Aadhar card, address proof will be mandatory
- Eligibility Criteria
When availing personal loan from the Simply Cash loan app, it procures a very simple eligibility procedure for both salaried and self-employed individuals, that you may be able to easily match. Following are the basic eligibility criteria for availing Simply Cash personal loan
- You must be in an age group between 21-58 years
- You must earn a minimum income of Rs.15000 monthly
- You must submit 6 months’ salary slip or bank statement mandatory
- You should be a citizen of India
Features and Benefits of Instant Loan Procedure
- Instant loan approval- The online loan procedure actually gives instant approval and disbursal maximum within 24 hours. This is possible as no collateral or security is requited in the loan procedure.
- Flexible repayment option- The loan tenure and EMIs can be customized with the help of an in-built loan EMI calculator. Enter the desired loan amount, tenure and interest rate in the tool and get the EMI result in seconds. Flexibility in getting a suitable EMI helps in timely repayment.
- Attractive interest rate- Interest rate may vary from lender to lender. So before applying for a personal loan, compare the interest rate between different lenders and approach the most competitive interest rate that suits your pocket.
- Low processing fees- Commonly a range from 1-3% is the processing fees charged by the lender to process the loan. Online instant personal loan is charged less as the loan procedure is minimal compared to offline loan procedures.
- No physical documents- Paperless documentation makes the online loan procedure faster. With minimal set of KYC documents and income proofs, the loan processing is quick online.
Closure of Personal Loan Procedure
After the verification process is completed, the personal loan is approved instantly within 24 hours and directly gets transferred in the bank account of the borrower.
Automated repayment method prevents you from missing EMIs. It deducts EMIs on a fixed date, increasing your credit score at the same time.
Finally, online personal loan is one of the quickest and most instant loan types to acquire funds within just 3 simple steps using your smart phone.