Fund your short-term goals with Short Term Loans and advances
Not having access to cash during unforeseen circumstances can be cumbersome. You may need to arrange money for various medical and personal emergencies. Thanks to instant Short Term Loans, you need not fret about short-term money requirements. This type of loan has shorter repayment tenures, is paperless and collateral-free, and the loan amount gets disbursed quickly. To know more, keep reading further.
A Short Term Personal Loan is a type of loan that you can repay with 1 to 2 years. Banks do not ask you to pledge collateral against such loans since a short-term loan is typically an Unsecured Loan. Usually, Short Term Loans help you pay for urgent financial contingencies.
You can apply for short-term loans online via the lender’s website. The application process is smooth and paperless, and you only have to provide scanned copies of your ID, address, and income proof documents.
An exceptional feature of instant Short Term Loans is that most banks typically verify and sanction the loan quickly. Funds are disbursed into your savings account within 4-48 hours.
The title of this article itself indicates that the tenure of such loans is relatively short – ranging from 1 to 2 years. You can repay the loan amount in easy Equated Monthly Instalments.
Banks offer competitive interest rates on Short Term personal loan with minimal processing fees. Other miscellaneous expenses like taxes, pre-closure charges, late payment charges, etc., are stated at the time of application.
Once the loan amount gets disbursed, you can use it to finance any expense. For instance, you can plan a vacation or a wedding, furnish or renovate your home, purchase gadgets and appliances, etc.
If you wish to cancel the loan, you can do so within 48 hours of the bank crediting the loan amount into your bank account. Note that the one-time processing fee plus taxes are non-refundable on cancellation after loan sanctioning.
Essentially, You should:
Check your eligibility using Personal Loan Eligibility Calculators.
With instant Short Term loans online, you do not have to bother with providing collateral or hard copies of your documents. Simply scan the standard documents mentioned below and attach them with the duly filled online loan application form.
Short Term Loans can give you access to quick cash that to finance short-term requirements. These loans are easy to procure and involve a paperless process. Ensure you check your credit history and scores before applying.
Download the digibank mobile app on your smartphone. Launch the app and click on the "Get Personal Loan" link on the login page.
*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.