Feature Image


Posted on Monday November 8th, 2021

Personal Loan is the most popular financial product offered by financial institutions and most preferred loan solutions by the borrowers. A personal loan has amazing benefits and great feature for which it is considered to be a financial hero. Most of the people who are seeking funds for their professional and personal needs usually Apply For Personal Loan and it is not less than a hero for them.

We have listed some of the basic reasons why personal loan is believed to be a financial hero in the given article:

No collateral: It is an unsecured type of loan which means it does not require providing any personal asset as a security to the lending institution. It is granted on the basis of borrower’s credit history, repayment capability, current loan obligations and most importantly the credit score. However, it does not require any collateral being an unsecured loan but lender may charge you high interest rate on it.

Savior in financial emergency: The personal loan is the instant form of loans in country. You can get an approval within 2 working days after submitting all the required documents and loan money can get disbursed in 24 hours to your bank account. As the funds are granted immediately so you are enable to use the money for any personal emergency or business requirements such as for working capital needs or expanding the business.

Moreover, one can use it to pay any medical bills, utility bills or to fund their studies, wedding as well as for travelling purpose. Hence, it is called out to be savior in emergency situations.

Less documentation: This loan does not require any mortgage so the documents required to process the loans are very less in number. The borrower just has to submit his/her KYC details, professional details and current loan obligations. You don’t have to waste your valuable time in gathering the piles of paper. Thus the loan process requires very less time and gets approved in shortest possible time.

Boost your credit score: Securing a personal loan and repaying it on time can boost your credit score to great extent in a positive manner. Be it a small or huge amount, but timely payments of EMIs strongly impacts your credit report. It will directly help you in future to secure the newer and bigger amount of loans at smart rate of interest.

Use it for multiple purposes: Either you Apply For Personal Loan Online or offline, one does not require disclosing the reason behind securing it. The lending institutions do not ask the borrowers as to why they are taking the personal loan. She/he can apply a personal loan to fulfill the various personal and professional purposes which may include Medical emergency, business requirements, debt consolidation etc.

Hence, if you are in need of funds to fulfill any of your financial emergency, get in touch with ShubhBank to avail a personal loan which is offered with amazing features, great benefits as well as competitive interest rates with hassle free loan procedure.