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What Are Short-term Personal Loan Options Available in India

What Are Short-term Personal Loan Options Available in India

Last updated: Feb 21, 2022, 05:54 AM IST

Short-term personal loans prove to be useful during financially challenging times. It is a preferred loan option due to its shorter repayment tenure. Being a short-term loan facility, the risk of defaulting on the loan account is rare. However, one feature to look after is a higher rate of interest as compared to the traditional secured loans that come with a longer repayment tenure. Short-term personal loans are the best option, which even a first-time borrower can avail for meeting various short-term needs like medical expenses, rent, etc. Payday loans and cash advances are types of short-term loans.
 
There are now various instant personal loan apps available through which one can easily avail of short-term loans from the comforts of their home or office. Just download the loan app from Google Play Store and get instant personal loans.
 

Features of Short-term Personal Loans

 

The features of short-term personal loans differ between lenders but some common features are stated below

 
  • Collateral-free personal loan for both salaried and self-employed borrowers
  • Loans available are as low as Rs.10,000 up to 2 lakhs
  • 100% digitized loan application and approval process
  • Hassle-free paperless loan documentation process and online KYC verification
  • Flexible loan tenure can be chosen via the EMI calculator tool
  • Loan once approved gets instantly credited to the borrower’s account within a business day
 
Digitization has led to the development of many new and credible online instant personal loan platforms which provide short-term personal loans for meeting immediate financial requirements. SimplyCash by Hero FinCorp is one of the popular instant cash loan apps in India offering short-term loans between Rs.50,000 to 1.5 lakhs at an affordable interest rate, starting from 2.08% per month.
 
SimplyCash, a venture by Hero FinCorp, is a user-friendly, fully digitized online instant personal loan app that helps with instant money to be used for a variety of purposes. Also, borrowers can know the EMI to be paid in advance via flexibly changing the variables in the EMI calculator, till a suitable EMI is derived.
 

How to apply for a short-term personal loan via SimplyCash?

 
  • Get SimplyCash quick loan app installed from Google Play Store
  • Register through your mobile number, and provide your email address
  • A loan EMI calculator is made available that helps you customize your loan requirements
  • Paperless KYC verification is the next step
  • Verification of the registered bank account through net banking, retaining the security of data
  • Instant loan approval with a few seconds of verification
  • The loan amount gets transferred to your bank account in a business day

So, take a risk-free short-term loan via SimplyCash and pay at your convenience in a flexible tenure of 6 to 24 months.
Before applying for a short-term loan, it is important to identify as to which loan type whether the short-term or long-term will fulfil your financial need at that point in time. Getting a short-term personal loan is now easier than before. Simply download an instant loan app of your choice and proceed with the loan application as instructed.

SimplyCash

SimplyCash powered by Hero FinCorp is an instant personal loan app providing cash loans of upto INR 1,50,000 for both salaried and self-employed individuals. Driven by technology and fuelled by innovation, SimplyCash solves instant cash requirements of customers in just a few simple clicks without any physical documentation or meeting. The mobile app is available to users through all popular Android play stores like Google play store, Samsung store, Xiaomi store etc. With one of the most widespread presence, SimplyCash currently offers its services in over 90 major locations in India. Known for a seamless process, instant loan disbursal and transparent pricing - SimplyCash truly lives upto the expectations of being a 'Hero' product.  

Note: SimplyCash is a duly registered trademark and is a loan product offered, managed and operated by Hero FinCorp. Hero FinCorp Limited is a Non-Banking Financial Company registered under the provisions of Reserve Bank of India ("RBI") and is in the business of finance and lending.

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Accepted Banks:

ICICI BANK LTD HDFC BANK LTD IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK KOTAK MAHINDRA BANK LTD

IDFC FIRST BANK LTD AXIS BANK BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK INDIAN BANK RBL BANK LTD DEUTSCHE BANK AG CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD CITI BANK BANDHAN BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK UCO BANK

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