Fin-Techs That Aim To Solve Your Month End Woes: Get an Instant Loan Online

1. Fin-Techs That Aim To Solve Your Month End Woes: Get an Instant Loan Online Digital lending platforms are in the list of most preferred choices among young-bloods who are in urgent need of money and prefer a paperless process for sharing the documents. Research tells that people need their salary in advance and that too in real time for frivolous things because of month-end cash crisis. It could be for anything like going on a holiday to buying your friend a birthday gift. Till a few years ago, the processes were paper-heavy and time-consuming. Today, you can get an instant loan online through so many digital lending marketplaces which offer a much-enhanced consumer experience. So, filling the application form online and scanning the documents on phone have made the whole process much easier. The loans can be as small as of 10,000 to a maximum of 2 lakhs and the minimum tenure starts from 3 months to 36 months depending on the amount taken and your flexibility to repay. The objective of these digital lending platforms is to provide easy access to credit to everyone, irrespective of your location. The process to get an Instant Loan Online All you have to do is download an app, fill the application form and upload the documents online through their easy to use interface. These apps provide you an instant dose of financial wellness i.e. instant loans online in real time with a low-interest rate. The fin-tech companies understand your needs, the fast-paced lifestyle especially the young guns. They understand your month-end cash crisis, and instead of borrowing from your friend or relatives you can borrow from these digital lending marketplaces. The lenders offer you the interest rate based on your credit score and their own formulated social worth score. They don’t change loan interest rates with the change in RBI interest rates until you make the repayment of your loan amount. Eligibility for an instant loan online They provide unsecured loans only to the salaried employee who is having a minimum monthly income of 20,000/- with a minimum duration in your current job is of 3 months. Documents Needed The borrower has to upload all the documents in PDF format. In case of instant loans online, your proof of identity i.e. (PAN Card Details), proof of residence, utility bill, latest 3 months of bank statement and 1 passport size photograph are given the highest priority in order. The mentioned documents are a general set of documents which is asked by the lenders and this list might vary from one lender to another. And you must remember that your loan gets approval on the basis of these documents. Advantages of instant loans online

2. The digital lenders provide the solution for someone who is looking for quick cash and it helps you tide over those times when the salary does not seem to come early enough. The instant loan online can be availed at any time in the month and paid in the form of Equated monthly installments. The lenders won’t be asking you the reason for it. There are many lenders in this digital marketplace where you don’t need to pledge any security for such a small amount. In addition to this, you are absolutely free to choose the duration for repayment (tenure). There are options where you can pre-close your advance salary loan as soon as your regular salary gets credited for the next month. Hence, these fin-tech or digital lenders are making it easier for professionals to manage their expenses, without cutting or limiting their current situation.