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5 Key benefits of Personal Loan You Should Know

benefits of personal loan

A personal loan is of great convenience when you need urgent money without running here and there or begging it from your family and friends. The need for money is unpredictable and it can reach your door as any form such as medical expenses, children college fees home renovation, short term cash, etc. In situations like this personal loan can be your best solution.

Personal loans by Slick Cash Loan are instant easy cash which you pay over a period of time in the form of pocket-friendly instalments. The disbursal of cash is quick and with a very minimum amount of paperwork.

benefits of personal loan

Here are some of the 5 key advantages of personal loans we have enlisted-

1. Hassel-free loan processing: Whenever you need money your bank will eagerly help you in the form of personal loan. You can apply for a loan online via internet or Net-banking seating in the comfort of your home. You can also apply at any ATM or bank branch nearest to you. The documents required have been kept low with minimal paperwork.

2. Instant disbursal: The money will be disbursed in record time. You can get a pre-approved personal loan in 10 seconds or in max it will take four hours.

3. Free to use the funds for any purpose: We, as a bank know that the need for money can be of various kinds and everything can’t be stated on papers. The biggest advantage of personal loan is that you can spend your bucks on anything, anywhere unlike home loans where you are bound to spend every penny for the mentioned purpose. No one is there to ask you about your expenditure.

4. No need to provide collaterals against the loan: The best thing about personal loans is that you don’t have to mortgage collateral your home, land or other property. Banks believe you on the basis of your previous records to issue the loan.

5. Pocket-friendly repayment: Personal loans don’t act as a burden to make you feel the pressure. You don’t have to pay it in lump sum money on a specific time. The repayment of the money is done via easy instalments or EMIs. The payment terms are decided as per your convenience and you can choose a tenure that allows you to optimize your monthly EMIS as per your needs. Bank offers tenures of 12 to 60 months with EMIs as low as Rs2187 per lakh. You can easily calculate your monthly EMI with the help of a Personal Loan EMI calculator.

About the author

Shane Watson

Shane Watson

Shane is a cryptocurrency journalist and an ICO writing consultant at The Written Craft content service. He's an advocate of decentralized public control of finance, an off-grid enthusiast, and really fun at parties too.