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Why Availing A Personal Loan Is Beneficial During This Pandemic

Because of the integration of online and digital services, getting a personal loan from a bank is today lot easier than it was a few years ago. You can now apply for a personal loan online in minutes using either net banking or the bank’s mobile app. The loan payout or disbursal procedure has also been simplified and accelerated with the mobile app. Personal loan apps can help with the loan could be disbursed within a week or two if all the information provided by the applicant to the bank is correct. During the second wave of the Covid-19 pandemic, there have been numerous cases of urgent fund requirements.

People demand financial distribution within a day in specific instances, such as health and medical emergencies. As a result, one of the biggest and most widespread worries during this aggressive corona virus pandemic is financial difficulties. Breaking your funds to meet your financial responsibilities and/or unexpected expenses is not a reasonable or viable alternative right now. A personal loan can help you out in this situation.

What is a personal loan and how is it helpful?

Personal loans are a wise approach to manage your finances, particularly during this recession, when job layoffs and income cuts are common. A personal loan is an unsecured loan that can be used to cover medical costs, home repairs, vacations, weddings, and other pressing financial needs. Several banks and lending organisations offer a collateral-free loan with low interest rates to satisfy your various needs.

Digitalisation has encouraged the introduction of various mobile loan apps for lending. One of these apps is Bajaj Finserv. You can easily receive a personal loan of up to Rs. 25 lakh from the comfort of your own home. There will be no need to travel to several locations or deal with awkward paperwork.

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One of the key products offered by the Bajaj Finserv platform is the Bajaj Finserv Personal Loan, which is a totally digital, and paperless solution with an aim to give you immediate monetary funding in the times of need. The payback period is likewise adjustable, ranging from 12 to 60 months depending on the loan type. Knowing the tenor will aid you in planning your repayment strategy without jeopardising your present or future financial responsibilities.

Why is Bajaj Finserv app your go-to Personal Loan app?

The top features of the Bajaj Finserv Personal Loan app include,

  • Flexible Loans up to Rs 25 lakh: Based on your eligibility, apply for rapid loans up to Rs 25 lakh from the convenience of your own home.
  • Flexi loan facility: You can save up to 45 percent on your EMIs with a flexi personal loan. With a flexi loan, you’ll only have to pay EMI on the amount you borrowed. Although you may have received a large loan amount, a loan does not have a high interest rate; you will only be charged for what you use. You might choose to only pay the interest component of the EMI.

    This gives you the flexibility to pay the principle whenever you have money.
  • Flexible payback period: Depending on your financial situation, choose a repayment period between 12 and 60 months. This gives you the freedom to repay the amount in the stipulated time.
  • Easy and quick disbursement of personal loan funds: Within 24 hours of successful approval, the monies will be transferred to your bank account.
  • Easy online approach with minimum paperwork with the mobile loan app: You can apply for a loan online using the Bajaj Finserv app. A simple process that avoids the need for multiple branch visits.
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Read Also – Effective Ways To Get A Personal Loan Online

What is the application process for a personal loan with Bajaj Finserv?

The application process for the Bajaj Finserv loan is simple with the mobile app. To apply for a personal loan with Bajaj Finserv, follow the steps below.

  • Download the Bajaj Finserv mobile app. Register with your mobile number.
  • Fill the online application form. Fill up your personal, professional, and financial information. To get immediate approval, you must specify the loan amount and repayment period based on your demands.
  • Complete your KYC online. You will get the money disbursed in your bank account within 24 hours post successful approval.
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