Quick Loans - Avail of Timely Financial Help


Usually, people are seen running around for help to fulfill their sudden financial urgency. If you are a salaried person, then the chances are that you need cash ahead of the next payday to deal with some unexpected bills. Sometimes, it is better to borrow money from friends to pay off a bill rather than incurring late payment penalties. Due to the late payments of bills, it may also adversely impact your credit history, which becomes an impediment in taking out larger loans in the future. Unfortunately, friends are not always able to lend money on time. Banks also take many days to approve a loan request. Therefore, quick loans are your best bet to borrow cash right away without facing obstacles

A key feature of quick loans is that these are approved instantly, and the loan amount is wired directly into the borrower’s bank account within hours. So, these loans are your safe source of money to pay off urgent bills on the same day. This fast access to the money is due to the online processing of the loan. All you need to do is to open the lender App and give some personal details like your name, loan amount, contact information etc. Then, submit the loan application online then and there along with the copies of your eligibility papers.

Moreover, almost all salaried people are eligible for quick loans. It would be best if you were an Indian citizen of over 18 years of age and employed to borrow cash under these loans. But your monthly salary must be no less than Rs 15000. If you meet these eligibility conditions, then you should send copies of your Aadhaar card, Voting ID card, and PAN card with the loan application online. The lenders also want you to have your Facebook or LinkedIn profile. Send its link also with the application.

As far as the loan amount is concerned, you can surely borrow enough cash from the lenders offering quick loans. A typical range of cash available under such loans is Rs 2000 to Rs 200000 for a short period. You can meet most of your urgent expenses with this range of cash. However, you should avoid borrowing a loan amount that is beyond your easy repayment reach. In that case, the lender may take the time to approve your loan request. So, borrow a larger amount of loan only when your repayment capacity matches with it.

When it comes to repaying quick loans, you are allowed to do that in two weeks on your next payday. A typical repayment period for the cash you borrowed is 15 days to 180 days. This means that your next salary cheque can get rid of the loan burden. But you had to borrow a larger amount of loan. You can even choose to repay in monthly installments.

But pay attention to the interest charges as well. Quick loans are unsecured loans for a very short period. Therefore, lenders charge interest at an expensive 36% APR, which is a 3% interest payment per month.  In order to avoid paying more interest, it is advisable to pay off the loan as early as you can. These are surely useful loans to borrow for urgency but make timely repayment to avoid penalties and more interest payments. 

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