6 ways a personal loan can help you manage your big-ticket purchases
An unsecured personal loan is a great tool to finance your big purchases. The eligibility parameters are usually very simple, you are only expected to complete a simple online form, and you can get a reasonably large loan amount very quickly.
In fact, lenders like Bajaj Finserv offer instant personal loans that you can get within 24 hours. You only need to check your pre-approved offer to get the funds you need. From furniture to better interiors, renovation to the latest gadgets, if you wonder how to manage the cost of your next big purchase – look no further than a personal loan. Here’s why:
1. Plan your loan and qualify in 5 minutes
You may need money for a planned expense or may urgently need cash for something that arises out of the blue. In either case, you don’t have to spend a couple of hours planning your next step. A personal loan is the simplest solution as you can avail of it easily and in just a few minutes. Before you apply, all you need to know is the loan amount you will need and the preferred tenor. You can qualify for a personal loan in just a few minutes.
2. Meet simple terms and avoid risking an asset
Personal loans are unsecured offerings, which means you can qualify for one without pledging your assets. As such, you only need to have a suitable profile to get approval. Moreover, top lenders have simple requirements that mainly assess 5 main categories, which are:
- Annual income
- CIBIL score
- Employment type
By being an unsecured instrument, personal loans are much easier to avail and quicker too! You also get to enjoy hassle-free loan processing as lenders don’t have to evaluate and verify assets. This is especially important because you may not have the time to do the legwork required to secure loan approval.
3. Get a large sanction and tick off your wish list
Expenses come in all shapes and sizes, and you need the freedom to spend as you’d like. A personal loan caters to this as it doesn’t have any restrictions on usage. You can use the sanction to renovate your home, buy new appliances, purchase gifts for family, host a wedding, or book travel tickets.
Besides leisure spending, this loan can also be used to consolidate debt or handle medical or business expenses. A personal loan offers unlimited freedom, and you can address almost any expense on your wish list without restrictions.
4. Avail same-day disbursal and meet urgent expenses with ease
In case of an emergency, you can opt for a personal loan and rely on it in your time of need. Top lenders now have fully digital provisions, through which you can get funds almost instantly. In fact, in some instances, you enjoy the benefit of instant approval and have the full sanction disbursed to you within 24 hours*. This is a useful feature to look for in a personal loan as it guarantees funds if you’re ever in a pinch.
5. Spend as per your budget and repay comfortably
The pressure of the debt obligation brought on by availing of a personal loan is a common concern. However, new-age lenders address this problem by offering a flexible tenor. This means you can opt to repay comfortably, based on your capabilities, without having to worry about an overly expensive monthly installment. In many cases, you can opt for a repayment plan that lasts up to 5 years. This allows you to calculate personal loan EMI options that not only suit your budget but also help you save on interest.
For true flexibility and convenience, opt for the Bajaj Finserv Personal Loan. Here you can get a sanction of up to Rs. 25 lakh and an extended repayment tenor of up to 60 months. Bag a personal loan at attractive interest rates by meeting the simple eligibility criteria and submit only a few documents. To get started, check your pre-approved offer, and apply online.
Disclaimer: This content is distributed by Bajaj Finserv. No HT journalist is involved in the creation of this content.