Personal loans are a kind of unsecured and multipurpose loan extended by financial institutions. Personal loan depends on a level of income, CIBIL score, scope of repayment and history of employment. This loan serves the personal needs of an individual at the time of financial crunch. These loans enjoy immense popularity in the credit market. You can either apply online for a personal loan or take the help of Direct Selling Agents (DSAs) to assist you with the procedure.
Our article throws light on what are the advantages of applying for a personal loan online and through a DSA.
Advantages of Applying for a Personal Loan Online:
1. User-Friendly website & application:
Banks & NBFCs, both have a website & application with user-friendly interfaces. The online sites can be accessed at the comfort of your own house. Just log on and apply for an online personal loan. These websites serve you good to conveniently navigate through the website. Additionally, these websites set you up for all the information you need about a personal loan and how it essentially works. Taking a personal loan can be beneficial in just an instant. The well-built websites provide 24/7 customer service to answer your queries right on time, whenever the need be.
2. Time Efficient:
Applying for a personal loan on the website or application can save your tremendous amount of time. Instead of physically visiting the branch and filling the forms. The moment you recognize a need for cash money, its best to apply for an instant loan and save your time.
3. 100% Paperless Process:
An online personal loan allows hassle-free documentation and a 100% paperless process. All the proofs can be submitted online with minimal documentation. The documents can be uploaded online or manually/automatically filled up as per the required fields.
4. Instant Approval & Fast Disbursal:
An online personal loan takes minimum time for processing. This is much faster than an offline application. It has less processing time and the fastest disbursal ever. There’s a greater probability for instant approval & fast disbursal on meeting the eligibility. Disbursal is enabled in less than 24 hours.
Benefits of Applying for a Personal Loan via a Direct Selling Agent
1. Loan Services at Your Doorstep:
Direct Selling Agents physically visit your house to assist you with the loan process and convince you for a buy. This basically helps to know the process in better detail, solving all sorts of queries. They help you with all kinds of information. The DSAs follow a secure code of conduct and help you make the right financial decision. Their sound knowledge of personal loans can help you choose the right amount, tenure, and a favorable interest rate.
2. Customer Support:
DSAs or as they are also known as Corporate DSAs are thorough professionals who are trained to solve even the basic queries about personal loans. Therefore, no matter how small a doubt, if it is bugging you, then DSAs can give you clarity and help you find a solution.
3. Assistance for Loan Approval:
When you apply for a personal loan from a DSA, you get end-to-end assistance. If your credit score has been affected in the past and you feel your loan might not be approved, a DSA can help you take the right steps for it. The DSA is your link with the bank or the NBFC. They can help you with loan approvals based on their good relations with the lender.
As is evident, applying for a personal loan online or through a DSA, have their respective benefits. Ultimately, it is really up to the customers to decide which approach suits them best. Home Credit Personal Loan provides the personal loan online via Personal Loan App. Home Credit process for the loan is easy and 100% Paperless with a instant loan approval in 5 mins*. You will get disbursal within 24 hours within no hidden charges and no collateral required. Apply for a Personal Loan upto Rs.2 Lakh Now!