5 Situations in life an instant personal loan can help you

By admin | Mar 10, 2021

Financial planning is important and helps us manage our income month on month. We put in a lot of time and effort to determine our short and long-term financial goals to create a balanced plan that helps us meet our goals. However, there are times when all that planning still sets us back and we’re left in financial exigency.

In times like these, an instant personal loan can help to alleviate some of the financial burdens. It provides extra funds within 24-48 hours that help you address the financial setback that you’re facing. It allows you to pay your monthly EMI without credit card. Here are 5 situations in life an instant personal loan can help you.

Medical bills

A medical emergency is unavoidable and can leave one reeling under a huge load of expenses. If you have medical insurance then you can address some of the expenses, but the overhead expenses in times of a medical emergency are sometimes not covered by health insurance companies.

In times like these, an instant personal loan can help foot the bill for the overhead expenses. Ofcourse at such an arduous time, you will need funds immediately. In your time of need, a loan from a bank may help you ease your stress. However, the loan application process with banks is not instant and takes several weeks for the loan to get processed. Your best option is choosing an online lending platform that lets you apply for a personal loan online and credits the disbursed amount to your bank account in 24-48 hours.

Home renovation

Having a roof over your head is an unmatchable form of security. However, there are times when our homes need extra care and maintenance too. Your roof may need fixing or you may have a termite infestation, in times like these when you’re short on extra funds a personal loan can come to your aid and help you fix the problem that’ll make your home safer for you and your family. Once you get the money, you don’t have to worry about paying it back immediately. Instead, you can pay it in EMI without credit card and choose a tenure that matches your financial abilities.

Wedding costs

A wedding in the family requires a lot of planning and expenses. Many a time these expenses go beyond your budget and require you to scrounge for extra funds. Not being able to find the required finances in a short period of time can be debilitating and can put your wedding plans on hold. An instant personal loan can come to the rescue and help you continue with your wedding planning without taking on any more stress.

Financial contingency

Despite being meticulous about managing your finances, there may be times when you fall short on your monthly payments. This could be rent, monthly bills, or your children’s school fees. An instant personal loan can help you overcome this small setback and set your straight for the next month.

Festival expenses

Indian festivals are an extravagant affair. Some festivals, however, may be of greater significance to you and your family than others. But with festivals, there are also expenses that you probably did not account for at the start of the year. Whether it’s buying gold jewellery or spending on decorations for a family gathering, a personal loan can help you keep the festivities going without worrying about your finances. With an instant personal loan, you can opt for EMI without credit card. This way you can choose a loan tenure that you’re comfortable with and pay off your loan over time.

A personal loan is a sought after form of credit that helps many like you to navigate financial setbacks in their lives. It gives one the financial freedom to overcome difficulties in life and take control of their finances. But one has to be careful and follow the basic rules of being a good borrower such as paying your EMIs on time and checking your credit score regularly. These small steps will go a long way in building your credit history and in time will let you avail loans with a higher credit limit.

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