No Limitation on End Use

There are no limits on how you can use your loan amount. Borrowers have used these loans for everything from medical expenses and home renovations to starting a business or consolidating debt. You can use the loan for expenses such as weddings, travel, down payments, medical needs, rental deposits, the purchase of a two-wheeler, home renovation or any other personal requirements while ensuring the payments are made on time.

Quick Disbursal

When you apply for a personal loan, the last thing you want is to wait around for days or even weeks to find out if you’ve been approved. Quick disbursal means that once your loan application has been approved, the money will be deposited into your account quickly – usually within 24 hours. This can be a huge relief if you need the money urgently for an unexpected expense.

No Collateral Required

When you take out a personal loan, the lender doesn’t require you to put up any collateral. That means you don’t have to collateralize your car, house or other assets to secure the loan. This can be helpful if you don’t have any equity in your home or other valuable property to use as collateral.

Flexibility Of Tenure

One of the key features of this type of loan is the flexibility it offers in terms of repayment tenure. Most loans have a tenure of 6 months to 5 years, which gives borrowers the freedom to choose a repayment plan that best suits their financial needs and repayment ability.

Fixed-Rate Of Interest

You can use these unsecured loans for various purposes. The interest rate is fixed, therefore it won’t fluctuate over the loan’s term. This makes them an ideal choice for borrowers who want predictable monthly payments.