Instant personal loan: These are the top 9 reasons to apply for it
Live MintIf you are in an urgent need of money and the requirement does not qualify for a specialised loan category such as a car loan or a business loan, then it is recommended to opt for a personal loan. Although one typically applies for a personal loan at a bank or an NBFC, one can consider opting for an instant loan offered by a slew of fintech providers as well via mobile apps. While personal loan is preferred for a long tenure, say 3 to 4 years; instant loan – on the other hand -- is a short-term fix to meet urgent requirements of funds. Therefore, one may wonder whether instant loan is preferable over a personal loan or vice versa. Here, we list out the top use cases to claim instant personal loans, Instant personal loan: Key purposes to claim it Debt consolidation: You can consider raising an instant personal loan to consolidate several high-interest loans or credit card debt into a single, manageable payment.