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How can a Personal Loan help you manage your expenses with ease?

| Updated on April 09, 2021

A personal loan is not only convenient, but also a viable borrowing option to meet big and small expenses. Owing to its fast processing, you can manage all kinds of expenses with ease, even unplanned ones.

For instance, you can apply for a Personal Loan online, get approval within 5 minutes and receive the funds in your account in just 24 hours! You can avail of a personal loan to finance various expenses, such as home renovation, emergency medical treatment, debt consolidation, tuition and other education-related costs, a wedding or a vacation, as it has no restrictions on its end-use.

Apart from no limits on utilisation of funds, a few other factors make it an ideal credit facility. So, here’s an in-depth look at how you can manage all your expenses with ease using a personal loan.

No need to risk your assets

A Personal Loan, such as the one offered by NBFCs like Bajaj Finserv, is an unsecured, collateral-free loan. So, you do not have to pledge collateral or provide a guarantor to get the funds you need. If you have a good credit history, a healthy repayment capacity and a high CIBIL score, then you are eligible for this loan.

This makes the Bajaj Finserv Personal Loan an ideal solution for managing all your expenses, including emergency financing. This not only saves you from the hassle of a strenuous application process, but also gives you quick access to the loan amount.

Hassle-free application process

To get a Personal Loan, you need to fulfil easy-to-meet eligibility criteria pertaining to age, citizenship, salary, and employment. The application process too requires minimal documentation, and you can easily apply for a personal loan online from the comfort of your home with a short application form. Once the documents are verified, you get instant approval and the loan amount is transferred to your bank account. Since the application process is streamlined, time-saving, and easy, you can apply in minutes.

Fast disbursal aids urgent needs

Since it is an unsecured loan, the personal loan verification process is shorter. This helps you in getting approved quickly and accessing the funds quickly too. On applying for a Personal Loan, you get instant approval. Furthermore, the loan amount is disbursed to your account within 24 hours of approval. This ensures that you have the funds you need to manage any expense on time. This especially holds true for pressing needs, including medical treatment fees or immediate home repair.

Repayment on your terms

Most lenders provide a flexible tenor, ensuring that you can easily repay the loan without straining your cash flow. With the Bajaj Finserv, you can avail up to Rs.25 lakh with an attractive interest rate that can be repaid over a flexible tenor of up to 60 months. This lengthy timeline ensures that your EMIs can be accommodated in your budget with ease.

To ensure that you choose an affordable monthly EMI amount, use the EMI calculator for Personal Loan. All you have to do is enter the loan amount you want, the applicable rate of interest, and the repayment tenor into the calculator. Within seconds, it gives you the exact EMI outgo. This helps you plan your monthly expenses conveniently. You can arrive at a value that best suits your finances by changing the loan amount and tenor.

Flexi perks for EMI reduction

To get more convenience and flexibility, you can opt for the Flexi facility when you borrow a Bajaj Finserv Personal Loan. This allows you to make multiple withdrawals as and when required, from your loan limit, and pay interest only on what you utilise. Moreover, you can lower your EMIs by up to 45%* by paying interest-only EMIs for the initial part of the tenor. These features can help you repay the loan when your current finances are strained or when your needs for funds are unpredictable.

To make the most of all these benefits, opt for a personal loan to manage all your expenses instead of depleting your savings. For an expedited personal loan verification process, check your pre-approved offer from Bajaj Finserv today and get funds in just a few clicks

 

Published on April 08, 2021

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