What are Instant Loans and their Benefits?
Sometimes people face unexpected expenses for which they might not have sufficient funds. Then applying for instant loans is the perfect option. These loans are quite easy to apply online, for shorter tenure and the best part is — can be quickly processed. These easy cash loans need minimum documentation and therefore, are disbursed faster.
This is a list of different types of Instant loans:
• Personal loans: This is one of the most common or popular unsecured loan which is often availed by people at the time of financial crises.
• Personal loans for short tenure: In today’s time, they are becoming quite popular; and can be as low as $500 loans. It is the best option when one has to deal with a financial crisis at the month-end.
• Top-up loan: A person can take a top-up loan and get extra funds over his/her existing loans, like personal loan or home loans. As their bank has all their necessary documents as well as personal details already, it is faster and easier for processing these loans. A person applying for such loan is required to just fill a form and complete some formalities.
• Loans against insurance & savings: Most banks and other financial institutions offer instant or emergency cash loans against your petty saving instruments such as FDs, insurance policies, bonds, etc. This type of loan is also called demand loan.
• Loan against your credit card: If you own a credit card, this kind of loan might be provided by the credit card company, depending on your card limit and repayment history. This pre-approved loan needs minimum processing and the loan amount gets disbursed quickly.
Here are some great benefits of instant loans:
• No collateral: Instant loans are a kind of an unsecured loan for personal use. Thus, you are not required to submit any collateral or security when you must apply for it.
• Paperless approval: When applying for an instant loan for personal use online, all important documents are required to be uploaded online, this makes the whole transaction paperless.
• Instant disbursal: If you need funds immediately, it is recommended to apply for an instant loan, as the approved funds would be disbursed into your account quickly.
• Minimal time for process: The time for processing instant loans or emergency cash loans is comparatively lesser as compared to the regular loans.
• Competitive rate of interest: If your credit score is good, you are more likely to get a loan at more affordable or low interest rate. This way the overall cost of your loan will be low.
• Loan tenures are customizable: In many cases, when you take an instant loan, you are provided a flexible type of loan tenure. Therefore, you have the liberty to choose the repayment tenure according to your convenience and ability, subject to the maximum repayment term of the lender.
If you are looking for instant loans online, contact swiftloans.com.au as they have been granted credit license by ASIC, Australia’s financial service regulator. They are one of the best institutes to apply for loans online, as all their costs are transparent and upfront.
