In the midst of COVID-19 pandemic and sporadic lockdowns – and their impact on our finances, running from pillar to post for loan applications and approvals is the last scenario you’d want to deal with. In this age, with all services digitalized, borrowing online is now easy. With dozens of lenders advancing loans online, instant cash loan apps have emerged as one of the most convenient options.
While we all plan every penny of our earned income, slip-ups and financial emergencies are unpredictable. This is where instant cash loan apps can help for all your personal loan needs. The old conventional financial products are now evolving to suit different needs – whether they are spontaneous purchases or essential medical emergencies. In this article, we tell you about loan application eligibility in today’s age and 5 benefits of instant cash loan apps that can help you fight a cash crunch.
How To Apply For An Instant Cash Loan & Get Instant Approval
Loan apps can complete the entire loan process online. You can check your eligibility without submitting any documents. Apply for a loan online by:
- Registering on an instant loan app,
- Uploading your address proof,
- Identity proof (preferably PAN card),
- Employment and salary details and,
- Your account details.
Loan apps are password protected and so is every transaction made through them. This ensures your data security against identity theft and even if someone cracks your password, the money can only be transferred to your account. No third party can change the account details.
Once your loan is approved, you need to upload a cancelled cheque leaf from the salary account. Your loan agreement is mailed to you after successfully uploading these documents. EarlySalary typically takes 8 to 24 hours to process the loan. The loan amount is transferred within minutes of loan approval.
The Internet and smartphones have made instant cash loans in India a reality. With over a dozen instant loan apps in the market, getting cash loans within minutes of your application is no longer a utopian scenario. A quick comparison between the various cash loan apps for interest rates and repayment options can bring up options ranging from an instant loan to a salary advance loan and help you manage money crunch.
Advantages of Instant Cash Loan
Famous athlete and Olympic Gold medalist Carl Lewis once said, “Life is all about timing”. It is in times of great uncertainty and professional commitments that time is now a more valuable asset. In various pursuits, don’t let lack of finances stop you. Here’s how a quick loan approval from a loan app can help you.
- Hassle-free Application Process
Instant loan apps have a breezy registration and application process. Doing your homework by checking loan eligibility and EMIs with an online EMI calculator provides higher chances of loan approval. With on the go access and instant loan approval, cash loan apps can help you whenever there is an emergency. Simply open Play Store/ App Store, dig out a reliable money loan app like EarlySalary, and upload the requisite documents.
- No middleman
The biggest advantage of a cash loan app is privacy and security. OTPs and fingerprints verify every request or transaction made. There is no risk of losing your personal information. Your data is secured through encryption. In-app permissions ensure that you share only necessary information, no more, no less.
- Instant cash disbursal
eKYC, online documentation, and online loan approval reduce the time taken by loan apps to disburse the loan. The lending process is simple and the decision to lend or not is typically made within a few hours of your application and instant cash loan is transferred directly to your bank account.
- No effect on credit score
Short-term financial constraints may affect your credit score. However, the risk of rejection of a cash loan based on your credit score is much lower in the case of instant loan apps. With instant money loan apps, check your preferred loan type, eligibility, and loan sanction is certain in almost all cases. With EarlySalary’s instant cash loan app, you can also calculate your EMI using the in-app EMI calculator.
- Available for all purposes
You can use an instant cash loan for travel, shopping, marriage, rent, vehicle, education, and much more, no questions asked. You may use the amount for almost anything and everything. Apps like EarlySalary also offer discounts and offers on transactions with partners such as Amazon and MakeMyTrip.
In times like these, there is plenty already for all of us to deal with. Contrary to conventional loans, instant cash loan apps take only a few minutes for approval, before the disbursement is completed right to your bank account. To sum it up – the EarlySalary instant cash loan app offers credit when you want it, wherever you want it, with no prepayment charges and flexible repayment options thrown in as well. Download the app now and get your instant cash loan approved within minutes!
Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:
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Download the EarlySalary app here, and be a part of the #OneInAMillion experience.