In the recent past, the way we deal with finances has gone under major overhauling, especially in India. A considerable portion of that can be attributed to the continuous change in the FinTech sector specifically. Be it the increasing popularity of NBFCs, virtual banking, or new and innovative financial services being available remotely with next to no paperwork. The next in line in these innovations is the introduction of a credit suite.
What exactly is a credit suite? And why do we need it?
Simply put, a credit suite is a comprehensive digital credit solution for the users. With the finance sector becoming more and more consumer-centric, a credit suite is exactly what we need.
India’s banking sector was plagued with notions of lengthy paperwork and complicated approval procedure for loans, lots of technical requirements, and endless compliances. This made getting credit in India a very lengthy affair. In addition to this, there were endless guidelines issued by various regulatory authorities like SEBI and RBI, which made it even more tricky. For instance, the Reserve Bank of India mandated evaluating credit scores before approval of any loan by the Bank.
However, with the changes brought about by the development of the Fintech sector, a lot of these problems have been catered to. For instance, instant personal loans could be approved by NBFCs. Or, now you could even avail a loan with a bad or no credit score.
Despite all this development, there is still no comprehensive solution to all the problems posed by India’s traditional banking sector. This is exactly where a credit suite steps in—providing for a one-stop solution for the consumer’s credit needs, especially the salaried professional.
The focus is on salaried professionals because they are a huge proportion of India’s total workforce (almost 23% in the year 2017, net figure around 2.62 crores). Additionally, also owing to the corporate culture and ever-increasing needs, they often avail personal loans to fulfill their needs and aspirations: be it for the dream holiday, the dream house, or the car you always wanted to own.
What does a credit suite provide for?
On its 5th anniversary, EarlySalary announced the first of its kind credit suite to suit the Indian audience. Being marketed as a one-stop solution for any salaried individual for all his or her credit needs, EarlySalary is all set to transform the digital credit market. With a bundle of pathbreaking services rolled into one, the EarlySalary credit suite packs a punch.
Here’s what all it includes:
- Easy access to loan and instant disbursement
It offers short term loans, ranging from 80,000 to 5 lacs, at the click of a button. The money directly gets transferred to your bank account upon instant approval of the loan and is secured by the PCI DSS App to make it instant as well as secure. In addition to this, there is no bar to use them for any purpose and hence offers enough flexibility to use them for a varied purpose like a holiday, wedding or any other life experience. Hence, these instant personal loans from Early salary are better than the ones from a traditional bank on almost all accounts.
To know more about how to get personal loans from EarlySalary, click here.
- Salary advances
Another popular option with salaried professionals is that of Salary advances. An app based salary advance has many benefits: it is quick, easy, and hassle-free to get and has no impact on your credit score. As opposed to a personal loan, it is a much better option owing to the low-interest rate, flexible repayment option, and no paperwork.
- Salary card
EarlySalary, in collaboration with RuPay, launched the first of its kind virtual card, which mimics a credit card but is actually contained in the App. It offers flexibility to the user to decide the credit limit and repayment option and is entirely contact-less, which is a bane during the COVID times. In many ways, it is much better than a regular credit card. To know more, click here.
- Buy on EMI option
Available across all online shopping platforms, you can choose to buy anything you want and choose to repay it in a 3 or 6 month instalment option with EarlySalary.
- Free Credit Score facility
Liberate Yourself, Financially
At EarlySalary, we have been a market leader in the digital credit solution sector and continue to serve more than 5 lac customers with our unique and hassle-free services. With the credit suite’s introduction, we are bringing about yet another change that can transform everyone’s digital credit experience. So, join us and be a part of this change.
Feel free to contact us for any questions on credit, loans, and your instant cash needs! We’re listening all day on: