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Get instant access to funds with a pre-approved personal loan offer

Get instant access to funds with a pre-approved personal loan offer

If youre in urgent need of funds, there are few options as convenient as a pre-approved personal loan. A pre-approved loan is a personalised offering tailored to match your unique profile. A key benefit of such an instrument is that it guarantees quick disbursal. The last 18 months have shown us how uncertain times can be, and theres only so much you can do to be prepared. This is especially true when dealing with emergencies, but you can manage them easily with such offers. You dont need to be worried about lengthy procedures or about the fear of depleting your financial reserves when in a crisis. A pre-approved personal loan eliminates the need to dip into your savings and is a reliable option for instant financing. To know more about a pre-approved personal loan offer and its benefits, read on. Difference between a personal loan and a pre-approved personal loan A pre-approved loan is an unsecured and collateral-free loan that you can access based on your creditworthiness, similar to a personal loan. However, when you want a personal loan, you have to approach a lender for the loan, which is not the case for a pre-approved loan. Here, lenders provide you with personalised loan offers that you can choose to accept. This puts you in a position to avail of special deals. You get pre-approved loan offers if you have a good credit history and have the financials to back it. Since your creditworthiness is already evaluated before the offer is made, loan processing is hassle-free and quick. Therefore, with a pre-approved personal loan offer, you get access to funds in no time at all. Advantages of a pre-approved personal loan A personal loan is replete with benefits such as unrestricted use, a quick application process, and prompt approval. The same perks apply to a pre-approved personal loan as well, in addition to a couple more. Read on to know all about the benefits of a pre-approved personal loan. Speedy and time-efficient procedures A lender offers you a pre-approved loan after evaluating your credit profile. Therefore, all the underwriting processes that occur after you apply for a personal loan have already been completed. Hence, all you need to do is check your pre-approved loan offer, accept its terms and conditions, and await the disbursal of your loan amount. This saves you the hassle of choosing a lender, applying for a personal loan, and undergoing the approval procedures. A personal loan is a collateral-free loan, ensuring a short application process. In the case of a pre-approved personal loan, this timeline is even faster, making it significantly quicker. Favourable and competitive personal loan interest rate Since you get selected by the lender based on your borrowing history and creditworthiness, they offer you a competitive interest rate. These personal loan interest rates are generally not applicable to regular applicants. Moreover, since the loan is offered to you, lenders are open to negotiating interest rates and other terms of the loans. Minimal documentation and speedy disbursal of loan sanction To get a personal loan, you need to apply for it either offline or online. This entails filling the application form, submitting the necessary documents, and getting approval. However, since it is a pre-approved personal loan offer, you dont have to go through this process and may need to submit basic KYC documents. Some lenders even offer a completely paperless provision, which means you only need to verify a few pre-filled details. Once youve done this, it is just a matter of accepting the offering and authorising disbursal. Within hours, youll have the amount credited to your account. Find your pre-approved offer without divulging too much personal information You can now get a personal loan online from the comfort of your home. All you need to do is log on to the lenders website or personal loan app, fill in a detailed application form and attach necessary documents. (However, before you apply for a loan, you need to conduct your research to get the best loan deal and check the personal loan eligibility criteria of the lender.) Is this line needed? But with a pre-approved personal loan offer, you do not have to do any of this. You can check your pre-approved loan offer by just filling in your name, contact number, and city. For instance, you can get a Bajaj Finserv pre-approved loan in just a few seconds. Check your pre-approved offer by sharing basic information. With a Bajaj Finserv pre-approved personal loan, you can get a sanction of up to Rs. 25 lakh and have the entire amount disbursed in no time. Whats more, you can opt to repay over a flexible repayment tenor of up to 60 months so that EMIs are always within budget. Calculate personal loan EMI using the EMI calculator to find the best terms before you avail of the offer. Considering the benefits applicable on this personal loan, apply online for a smooth borrowing experience. Disclaimer: This content is distributed by Bajaj Finserv. No HT journalist is involved in creation of this content. Download.

brand-post 2021-10-30 Livemint