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Personal Loan

Instant personal loan: Easy solution to your financial needs

Summary: Whether it’s a luxury purchase or an emergency expense, an instant personal loan can provide the financial support you need with minimal hassle. Read on for more information and how to apply.

05 Apr 2023 by Team FinFIRST

In recent years, instant personal loans have gained immense popularity in India. With the rise of online lending platforms, applying for a personal loan and getting quick cash has become easier than ever.

Whether you want to travel to your dream destination or fulfil your lifestyle needs, the best personal loan can help you achieve your financial goals sooner.

What is an instant personal loan?

An instant personal loan is an unsecured loan, which means you do not need to provide collateral to get the loan. It is an easy way to get cash when you need it the most.

The process of applying for a loan is simple and hassle-free. You can apply for a loan online by completing a personal loan application. Depending on the lender's processing time, you will receive the money in your bank account within a few hours or days.

Also read: 6 Tips for how to get a Personal Loan without any hassle

Why you should not feel guilty about taking an instant personal loan?

  • The convenience of instant loans: One of the main advantages of instant personal loans is their convenience. The application process is usually online, and the loan is disbursed quickly. It means you can get the money you need without going through a lengthy and time-consuming application process.

 

  • Flexibility to choose the loan amount and tenure: Instant personal loans offer great flexibility. You can choose the loan amount and tenure that work best for your financial situation. It means you can create a repayment plan that fits your budget and allows you to repay your loan over time without putting too much strain on your finances.
  • Competitive interest rates: Personal loans typically have lower interest rates than credit cards or other types of loans, making them a more affordable option for borrowing money. Banks like IDFC FIRST offer interest rates starting at just 10.75%, and you can borrow up to Rs 1 crore. It means you can pay back your loan over time without worrying about high-interest charges adding up.

    Also read: How to calculate bank interest rate on a Personal Loan
  • Potential impact on your credit score: Taking out a quick cash loan in India and paying it back on time can positively impact your credit score. That is because timely loan repayment is one factor that credit bureaus consider when calculating your credit score. By taking out a personal loan and paying it back on time, you can improve your credit score, making it easier for you to access credit in the future.

Conclusion

Instant personal loans help you achieve your goals without waiting for your savings to accumulate. They are an efficient way to access quick cash.

IDFC FIRST Bank provides personal loans at an interest rate that begins from 10.75%. Additionally, you can borrow as much as Rs 1 crore. The loan has transparent terms and conditions, competitive interest rates, and affordable fees. So, why wait? Apply for IDFC FIRST Bank Personal Loan today and fulfil your financial needs with ease!

 

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.