Choosing a loan app like Fullerton’s app, InstaLoan, seems like a no-brainer in the digital age. But do apps really make personal finances easier?
Impulse buying is all the rage today, with shopping apps taking the e-market by storm. People open any app on their phone, scroll through, and add everything to their cart impulsively. It is often seen as completely ordinary and more a stress-buster. So, what happens when there is a bigger expense, e.g. a hefty medical bill, you need to pay?
While impulse buying is not the solution, the good news is there are loan apps for this too. Fullerton’s app, InstaLoan, is one such personal loan provider that you can get on your phone. As an online loan method, this app often translates to considerably reducing stress in times of financial crisis. Paying off large sums is much easier, with easy financial comprehension.
How Fullerton InstaLoan Simplifies Personal Finances
Going through an app can often make processes much simpler. Especially in the digital age, having online options increases accessibility, ensuring you can apply for your loan from any place, any time. You can get your personal loan from the comfort of your home.
How does an instant loan app make your finances easier? Here are a few ways you can get the most benefits from choosing a loan app like InstaLoan.
- All Details in One Place
Perhaps the biggest advantage is seeing all the details on your loan in one place. When you open the app, you have to input your MPIN and log in. Immediately you see your loan status, EMI dates, interest payments due etc.
- Instant Approval
While many people prefer an in-person loan application process, it can take longer. As long as you meet the eligibility criteria for a personal loan and have all the necessary documents, online loans get instantly approved. You can get your loan approved and disbursed within 30 minutes when you choose the online mode!
- Paperless Perks
One of the primary headaches associated with personal finances is the burden of paperwork. While having physical documentation is always a good thing, making numerous copies can often prove a cumbersome feat. With an online mode like an app, you subvert this effectively by taking pictures and uploading scans. You no longer need to make copies and provide a full folder.
- Easy Application Process
Possibly the biggest perk associated with online applications is how easy it is. If you find it difficult, you can always contact customer service and have a representative walk you through the process. However, most people find the online process intuitive with the advanced user interfaces available today.
You can also make this process easier and ensure you are eligible for your loan of choice using eligibility calculators. These calculators help you determine the loan amount you can get based on your age, credit score, income, etc. Combining this with an EMI calculator can further prepare you for what to expect after you apply.
Once you are ready to apply for your loan, follow these steps:
- Download and install Fullerton India InstaLoan app on your phone.
- Provide your mobile number and input the OTP you receive to verify your number.
- Set up your MPIN – the PIN that you can use to access the app securely at any point.
- Provide your personal details (email, gender, address, date of birth, etc.).
- Enter your employment details (name of the company, office address, telephone number, joining date, etc.).
- Give your bank account details (name, account number, branch, etc.), so the lender can deposit the loan correctly.
- Upload all the necessary documents (check what they are beforehand and ensure you have scans).
- Verify your details, “agree” to the terms and conditions, and “Submit” your application!
You should also note that the app may require you to be a salaried applicant with a steady income. However, as long as you meet the eligibility requirements, applying for your loan should be a piece of the cake.
It is important to understand such features and benefits before opting for any personal loan provider’s app. InstaLoan gives you competitive interest rates with flexible repayment schedules. However, other providers may give you other benefits and features. As long as you make an educated decision, you will easily choose the right personal loan plan and app for your needs!