An instant personal loan is like a weapon, if fired in the right direction it can save you, but if it is fired in the wrong direction, it can seriously harm yourself and your family. In the pandemic, we have seen many people borrowing loans to buy furniture and gadgets. According to research, an expensive laptop range was sold thrice more in this pandemic. The uncertainty in the jobs and increasing debts caused depression among the people and because of this, many people committed suicides, and many recovery agents from different loan companies were arrested.
Being a responsible organization with a good reputation in the business, considers personal loan as an emergency fund allocation, neither a necessity nor a luxury. In case of extreme emergencies, like an accident, vehicle breakdown, severe health issues, a loan should be considered as an emergency tool. Talking from the organization as well as an individual experience, a loan is a bad option if anyone is taking it for leisure or vacation purposes. So, next time if you are opting for a personal loan, always remember, some people keep on borrowing money to pay back their loans only!
Here are some of the pre-requisites that an applicant should consider before applying for an urgent personal loan, because once rejected, it may harm the credit history of the applicant that can later create hindrances in future loan applications.
● Minimum salary of rs15000
● Good Credit History
● Salary in a bank account, cash salary isn't considered
● 3-month salary slips from the employer
● 3-month bank statement
● Pan Card
● Adhaar Card
● Other documents, like, LPG Bill, Postpaid connection bill, electricity bill
Pro tip: before applying for an urgent personal loan, the customer should keep all the above documents handy so that once required, he/she can send it to the credit team so that the loan can be processed quickly.
A personal loan is the last resort when you are left with nothing and you want quick money without any obligation or collateral. Most people are opting for a personal loan for vacations and recreational purposes. But this is entirely wrong from the perspective of the actual personal loan definition. The personal loan concept was created to cater the end to end emergency requirements of the borrower and facilitate them with the financial options in case of any emergency. But with the onset of the fintech industry and easy loan options, most youngsters are pushing themselves into irresponsible borrowing because their debts are increasing day by day.
So, to aware the youngsters of the benefits of responsible borrowing and create awareness among the people about the bad debts, we at Loanwalle always believe in disbursing the loan only to the borrowers who require it with utmost importance. If you need a personal loan for your emergency needs, feel free to connect with us.
If you require a personal loan and have an emergency to go for a loan, you can opt for Loanwalle.com. While working in the industry for more than a decade, and served more than 30,000 customers, we have created a fan base among the people by providing them the best services. If you need a personal loan then you can apply on https://www.loanwalle.com/apply-now but before applying, you should know all the information beforehand and get your documents ready.
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