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Mobile Loan

Mobile phones are a daily-use commodity that has become a necessity with affordable internet connecting us to the rest of the world. Online shopping, banking, e-learning, etc. is easy at a touch of a smartphone. Nowadays, buying a mobile phone online is easy through consumer durable loans or loans for mobile in easy-to-pay EMIs. These are instant loans with zero deposits and attached cashback benefits for purchasing a mobile online. There are several high-end mobile phone models available year after year. Buying an expensive mobile phone can exhaust a major part of your monthly earnings. Hence, to balance your budget and own the latest mobile phone, buyers can opt for a mobile loan. A mobile loan online is a type of personal loan that supports a buyer’s decision of purchasing a smartphone.

A mobile loan is easily available online on popular shopping e-commerce websites. Besides, buyers can download an instant loan app or visit a credit website to request for a mobile loan through personal loan financing. Most of the young people in today’s generation are glued to mobile phones and spend extensively on smartphones. Students and homemakers willing to own an amazing mobile phone can very well opt for a mobile personal loan.

A mobile loan can be easily availed through consumer durable loan in-stores or instant loan apps. With the ease of using digital loan apps, borrowers can acquire instant mobile loans anywhere, anytime. Instant loan apps suggest consumer durable loans that come quite handy to apply for a mobile loan and get approved on the same day.

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Mobile Loan

Features and Benefits of Mobile Loan

Mobile loan is an unsecured personal loan that gets sanctioned within 24 hours. Mobile loans are widely taken to purchase high-end new edition smartphones. Whether it is gifting a new mobile or a purchase for self, the same-day instant mobile loan can be applied via instant loan apps online such as SimplyCash by HeroFinCorp.

Minimum documentation

When applying for a mobile loan, no physical documents are involved. Documents or document details such as Aadhaar Card number is required to be submitted online in a paperless format.

Instant approval

Mobile loans on the spot approval makes it distinct to indulge in gadget shopping anywhere, anytime, without worrying about the monetary issues.

Easy EMIs

Since there is no obligation to make the entire payment upfront, you can invest in a smart phone of higher range by paying easy monthly EMI’s.

Unsecured loan

Mobile loan is an unsecured loan and does not demand any security deposit or a down payment during the purchase.

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Disbursal

Once the mobile loan application is approved, the disbursal is processed further on the same business day. The loan amount gets disbursed directly to the borrower’s bank account.

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Interest Rate

One factor that majorly affects the mobile loan EMI is the interest rate. Mobile loan with a low-interest rate that derives affordable EMIs and does not pose a burden for the buyer/borrower. Get an instant mobile loan approved in seconds via an instant loan app online.

Eligibility Criteria and Documents for Mobile Loan

A mobile loan online is one of the easiest loans to take. Mostly mobile loans gets approved on the spot during the purchase. The only thing to take care of is the eligibility criteria and mandatory documents required to avail a mobile loan online.

  • 1

    Filled and signed loan application form. Electronic signature if submitted online.

  • 2

    KYC documents -Aadhar Card/PAN Card/Driving License/Passport

  • 3

    You should be the resident of India

  • 4

    You should be either salaried or self-employed individual/ businessman

  • 5

    Your minimum monthly income should meet the criteria fixed by the lender

  • 6

    You should be at least 21-58 years of age

  • 7

    Your credit history should meet the criteria set by the lender.

How to Apply for a Mobile Loan

Once you are clear with the eligibility criteria and necessary documents, go ahead with applying for a mobile loan and own the latest smartphone without the stress of buying it at a full payment. Buying a mobile phone online has become common these days, thanks to the instant cash loan apps helping with the easy mobile loan. You can apply for a mobile loan by following the below procedure through the SimplyCash loan app:

Instant Mobile Loan
  • Enter your mobile number and area pin code

  • Add your personal, employment, and financial details

  • Enter your Aadhaar card number / PAN number

  • Enter your profession and company address

  • Customize your mobile loan amount with Loan Emi calculator

Simply Cash instant loan app is a useful platform offering mobile loan in a range between 50,000-1,50,000. Buyers can opt for a high-end brand or a top model mobile phone through easy to acquire Simply Cash mobile loan.
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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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