Whether it is going on an international trip with your closest friends or buying a brand-new laptop with updated features, there are often big and small dreams that you may find yourself deferring. The main culprit here is lack of finances, but that doesn’t mean you can’t achieve these dreams with a little financial planning.
Taking a personal loan can be an ideal solution, helping you meet both small and big-ticket expenses with ease and without postponement. Since it allows you to repay the amount in monthly instalments, the EMIs won’t burden your finances.
All you need to do is plan your personal loan repayment by keeping your income and other expenses in view. Taking such a loan also helps you continue with your savings and investments, without breaking or withdrawing them prematurely.
Read on to know why a personal loan is a great way to realise your dreams and desires.
Collateral-Free Financing Keeps Your Assets Safe
Risking valuable assets like gold, property or fixed deposits for financing is not ideal, and with a personal loan, you don’t have to! Since a personal loan is unsecured, you get the funds without any collateral.
While the interest rates are higher for such loans, you can get competitive rates with a high credit score and by meeting all the lender’s eligibility terms. This helps you achieve your dreams without risk.
Ample Funds to Help You Realise Your Dreams
This wide range helps you access the amount you need with ease, no matter whether you want to buy the latest gadget or appliance, go on a vacation, take a course to upskill, upgrade your wardrobe or do up your home.
Simple Eligibility Criteria Makes it Easier to Qualify
. Today, you can get unsecured loans from fintechs and other financial companies with easy-to-meet eligibility parameters.
There are some lenders who use alternate credit scoring mechanisms that are not linked to your CIBIL score. This makes it easier to get a loan even if you are new to credit. As long as you have a stable income, you can get a personal loan and get one step closer to your dreams.
Basic Requirements of Paperwork Makes Applying Stress-Free
All you need to do to get a personal loan is to submit minimal documents to prove your eligibility. These are for KYC purposes (identity and address) and to prove your income. With simplified paperwork, getting a personal loan to achieve your goals is easy, quick and convenient.
Easy Digital Processes Ensure You Can Apply on the Go
Earlier, applying for a loan meant you had to clear time to meet the lender’s representatives in person, visit the branch multiple times and wait for days on end to get approval. Today, this is not the case.
You can get a personal loan completely online by applying on an intuitive interface. Fill a short application form, share your personal and income-related details, enter the OTP you receive on your phone and submit the documents online too.
Using the website or app of the lender, you can now avail of a personal loan hassle-free. This makes it easier to get the funds you need to fulfil your dreams.
Fast Disbursal Ensures You Can Achieve Your Goals in No Time
When it comes to realising your dreams, you would not want any delay. One of the advantages of financing your dreams with a personal loan is that you can get the loan amount in your bank account in just a few hours.
Lenders today disburse personal loans quickly once you meet the eligibility criteria and get online approval. By using AI, ML and other automated processes, lenders are able to approve personal loan applications much faster.
This makes such loans ideal when you don’t want to waste time in getting closer to your goals.
Transparent Fees and Charges Helps You Make Informed Choices
Taking personal loans from reputed lenders is key to stress-free repayment as all related fees and charges are highlighted and mentioned on their apps and websites. This way, you aren’t surprised when you see processing fees, bounce charges or prepayment fees being charged to your account.
Knowing all costs, apart from the personal loan interest rate, helps you make smarter decisions about your personal loan.
Bevy Of Personal Loan Choices Makes it Easier to Select the Ideal Offer
In the financial marketplace today, you will find a range of lenders, from banks to NBFCs, offering personal loans of all ticket sizes. This makes it easier for you to compare your options and get a nominal interest rate on your loan. Check the eligibility criteria and all other charges before you proceed, and you are good to go.
Together, all these features make taking a personal loan the perfect solution to achieving a variety of goals hassle free. Now you no longer need to delay or compromise when it comes to achieving your dreams.
By planning your repayment using a personal loan EMI calculator, you can get an affordable personal loan in no time. So, get started now, and live your life to the fullest!