7 Ways LoanTap Fulfills Your Personal Loan Needs
Published on : June 13, 2022

Are you struggling with financial issues? A personal loan is a convenient option to fulfill all your needs. You can start a business, go on vacation, buy an expensive gadget, pay for an education course or many more. It offers you complete financial assistance and helps you manage expenses without exhausting your savings. 

With non-banking financial companies like LoanTap, salaried professionals and self-employed can apply for personal loans online. It can provide instant cash in your hands when you face sudden emergencies or urgent expenses. 

Personal Loans are unsecured loans where you get quick loan approval with no pledged assets. The amount will depend on key factors, such as your income, CIBIL score, and repayment history. Loan amounts range from Rs. 50,000 to Rs. 10 lakhs. Borrowers have the option of repaying the loan amount over a longer tenure. 

Seven Ways in which LoanTap Fulfils your Personal Loan Needs

  • Instant Loan Approval: Time is money. You have little or no funds to tackle any financial emergency. In such a scenario, you cannot wait any longer to get the immediate cash. If your documents are ready and verified, your loan approval processing will only take a few minutes. 
  • Affordable Rates: Online lenders offer personal loans at competitive interest rates that are cheaper than credit cards. In addition, it takes less time and maintenance to credit the amounts to the borrower’s account. You can afford instant personal loans at much better rates. The cost of living is very high, so who doesn’t want cash loans at lower rates?
  • Less paperwork: Are you tired of filling out paperwork? With online personal loans, you can avail of the loan with minimal paperwork or physical verifications. It has a simple loan process for applicants. You can verify your credit score and other details with minimal documents.
  • Flexible Installments: For Borrowers, the main concern is handling the monthly installments. They are already paying multiple bills and managing their monthly budget. Adding to that, loan repayments can add extra burden to expenses. While keeping in mind the actual issue, LoanTap brings personal cash loans where you can repay the loan in flexible installments. You can also choose tenure ranging from six months to sixty months.  A step up loan will allow you to pay interest only EMIs for the first three months and normal EMIs thereafter. Else you can opt for EMI free loans where you pay only the interest on a monthly basis and the principal in quarterly or half yearly bullet payments.
  • Easy application and approval: Getting an online personal loan is way simpler for millennials. You just need to login into the app or website and enter your details. It approves the loan instantly within 24-36 hours. But the lender may reject your loan application on a lower credit score. So, try to maintain the credit score between 580-630 and clear all dues on time.
  • High Loan Amount: Borrowers will get the option to choose the loan amount between INR 50,000 -INR 10,00,000. Your eligibility and credit history will determine the final amount. 
  • Collateral-free: This type of loan doesn’t require collateral as it is not secured. It is an unsecured loan which makes it easier for borrowers to get a loan with no assets.

Use LoanTap Personal Loan for Seven Personal Needs

Personal loans cater to all kinds of borrowers’ needs. LoanTap offers you seven varieties of ‌personal loans to meet your various needs. Look at the list of reasons for using online personal loans:

  • Electronic and Renovation Loan: Your home appliances are getting older or scorching heat makes you upgrade your AC or refrigerator. New home appliances can improve the home style and add extra convenience to your abode. A personal loan is used to purchase furniture and consumer durables.
  • Wedding Loan: Indian weddings may cost you your lifetime savings but, the trend is to enjoy this auspicious occasion to the fullest. So, couples mainly choose expensive venues and luxurious decor to make the wedding day unforgettable. If you want a big budget to plan your dream wedding, a marriage loan can make your dream true. 
  • Rental Deposit Loan:  Moving Cities and changing homes can be overwhelming for you. So, Rental Deposit will help you secure the rental expense. The landlord can repay the loan amount to LoanTap upon termination of your lease.
  • Medical Loan: When there is a medical emergency, your first concern is financing. It offers enough to cover medical procedures, treatments, medical bills, surgeries, etc. Personal loans for medical emergencies will rescue you from difficult scenarios and there is no need to go around arranging instant cash.
  • Holiday Loan: Planning for an exotic trip this weekend? Holiday Loans come under the umbrella of personal loans, which ‌can turn your dream travel into reality. Travel is one emerging area in which personal loans are used. If you have been planning a dream holiday for months but have not saved enough, you can ‌ book your trip with the help of a personal loan. 
  • House Loan: You want to buy a home or an apartment in the city. A quick personal loan can help you finance your dream home. If you have a steady income, it is easy to get a personal loan online in India. It can work for business owners who need a place to set up an office. 

How to Avail Instant Personal Loan from LoanTap

LoanTap offers a transparent process to get a personal loan from the comfort of your home. You can get any amount based on your requirements and personal goals. To get a loan faster, here is a small guide to complete the loan application online. Follow these steps:

  • Step 1: Simply download LoanTap on your Android or iOS device.
  • Step 2: Check eligibility criteria before applying for the loan

– You must be 21 or older. 

– Must have a monthly net income of INR 30,000.

– An Indian citizen/ resident.

  • Step 3: Collect all the required documents for the KYC process:
  • PAN Card
  • Aadhar Card
  • Bank statements for the last six months. 
  • Payslips for the last three months. 
  • Step 4: Wait for your KYC to be completed after you upload all your documents.
  • Step 5: As soon as your KYC is verified, you will receive the loan approval mail. Voila! Your money is transferred!

In conclusion,

LoanTap offers the fastest disbursals and pocket-friendly EMIs for borrowers in need of funds. We understand customers’ requirements and design products to meet financial needs at every stage in life. It is a better option than credit cards with higher interest rates. If you think a personal loan is a perfect choice, go to the website and apply now.