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Online loan firms are developing unique mobile apps for students. If it’s the end of the month and you’re running out of budget, fret not. It’s a common story for so many employees and students.
- If you’ve a first-time user, you can offer the person a limited credit amount. When the users use the application regularly and performs various tasks, it becomes easy to increase the credit limit.
- You can even make it compulsory for customers to upload their official documents. It helps in identifying defaulters and using them easily. You can also increase the customers’ credit limit for completing the verification process.
- You can include some other tasks for increasing the credit limit. You can invite your pals to sign up on the loan app. You can encourage users to pay their dues on time or before time. If they use the app on a regular basis, increase the credit limit. This is a very common format for most banks and now mobile banking apps.
Few features of the app are transaction history, bill payment, checking current and previous bills, and EMI calculator and uploading documents for subsequent verification.
Applying for quick loan
After downloading an Instant loan app on your humble smartphone, you need to register yourself by mentioning your basic details. These include your name, phone number, and bank details and address.
- Your immediate next step will be to enter the concerned loan information. It includes the loan amount and its duration. You will find that most apps provide loans staring from Rs 7,000-Rs 3,00,000. The duration is 62 days to 365 days.
- You need to submit your documents on the online app. It will take you to the interface of your personal loan app. After uploading all the documents and details, the app can review your loan request.
- After they approve your request, they can transfer the money loan to your personal savings account. Quick loan apps charge very low rates of interests because these are short-term loans. Normally, the rates start from 2.5%.
You can repay your personal loan through bank transfer. These apps send you notifications or alerts before the due date.
The cash operations
Use your mobile number and email address to get instant approval of your loan. It could go to the tune of Rs 2,00,000. You need to download the home credit app and then complete the concerned application form.
You need a few documents to initiate the process. These are PAN card, residential address proof, net banking and a minimum income. In most cases, your minimum income should be Rs 10,000. The loan applicant must be over 19 years of age.
Home credit is a viable option because it has a transparent process, innovative products, an established and trusted name, and secure online systems and process.
As an informed customer, you can check the customers as well. There are millions of satisfied end users.