What makes online loans the smarter way of borrowing?
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What makes online loans the smarter way of borrowing?

  • Highlights

  • Online loans offer funds fasterwith fewer procedures

  • Access online tools to check eligibility criteria and planloan repayment

  • Bajaj Finserv offers a suite of secured and unsecured online loans

  • Pre-approved offers give you approval in as soon as 3 seconds

In a financial crisis, or when faced with an urgent, unexpected expense, securing external finance in minutes is crucial, so that you can attend to the need at hand, without wasting time running from pillar to post. In such situations it makes sense to apply for an online loan. It allows you toraise the funds you need in just a few minutes. Unlike traditional loans, an online loan does not demand hours or days of your time, and you don’t have worry about waiting in a queue to apply.

For instance, Bajaj Finserv offers you a host of loans including Business Loan, Personal Loan, and Loan Against Property at nominal interest rate, with approval in less than 5 minutes.

To understand why online loans are becoming a popular choice, look at the featuresthat make them better than regular loans.

1. Superior convenience

Applying for a loan online eliminates the need to visit the lender’s branch and schedulemultiple follow up visits. With an online loan, you can apply instantly from anywhere, at any time, through your laptop or phone.

2. Simple application and speedy approval

When you apply for an online loan, you can expect approval much faster too. This is because of the reduced procedures in an online loan that make way for faster processing and disbursal. For instance, when you apply for anonline loan from Bajaj Finserv, you get approval within 5 minutes,and approval in just 3 seconds when you opt for a pre-approved loan. This is followed by disbursal in just 24 hours.

Benefits of Online Loans

3. Access online tools

Online tools further enhance the value of these online loans. They help you to plan your loan efficiently and make a smart borrowing decision. For instance, Bajaj Finserv offers an eligibility calculator that helps you check your eligibility for a specific loan, and also gives you the loan amount you are eligible for. On the other hand, its EMI calculator forecasts EMIs before hand, and allows you to arrive at a tenor and principal amount that is in line with your budget.

4. Get comprehensive information about the loan

Online loans have their features, fees and charges, documentation requirements and eligibility criteria listed on the website. This means you can make a note of all relevant details without a hassle. You need not rush to your lender’s branch to confirm details you might have missed out on asking, or be confused about whether foreclosure charges are applicable to your loan or not. Also, since the information is hosted on the website, you can access it as many times you wish to!

So, take an online loan to make borrowing a quick and seamless experience and to simplify loan management too. Regardless of whether your needs are planned or not, choose from a suite of secured and unsecured loans and raise financein minutes.

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