Personal loans are collateral-free funding solutions, so you can easily apply for them to tackle emergencies and finance your goals. In order to get access to a personal loan of a substantial amount, all you need to do is fulfil simple eligibility terms that the lender sets revolving around your credit history, age, income, and other criteria. If you are wondering, ‘Is taking a personal loan a good idea?’, here are benefits and other factors related to it that make it suitable for myriad uses.
Quick Disbursal Suits Medical Emergencies
Medical emergencies can strike at any hour and your health insurance may not cover all your expenses. A personal loan for medical emergency by reputed lenders like Bajaj Finserv comes as a handy financial solution in these situations. You can apply for this loan in minutes via an online application form based on simple eligibility terms. You get the initial approval within just 5 minutes of your application and the loan amount is disbursed into your account within 24 hours. This instant processing and quick disbursal helps you tackle emergencies without delay or compromise!
Ample Loan Amount is Perfect For Debt Consolidation
Along with a quick sanction, you also get to access a substantial amount of funds with a personal loan. For instance, the Bajaj Finserv Personal Loan for debt consolidation gives you access to up to Rs.25 lakh. Thanks to this hefty amount, you can easily repay all your debts at one go and boost your credit score too. This will automatically leave you with one EMI to repay at a nominal interest rate, which will reduce your exposure to debt considerably.
Flexi Facility Helps Finance Travel and Weddings With Ease
Travelling isn’t just about booking your flights to an exotic location and planning your stay at a comfortable hotel, but also about sightseeing, buying souvenirs, trying the local cuisine, and even exploring adventure sports and other activities. All this can cost a hefty sum and so using a personal loan to finance your travel is a smart move. The same is the case with a wedding, where you need to tackle venue booking, decoration, music and entertainment, invites and gifts for friends and family, as well as the bridal trousseau and jewellery. Here, a customised personal loan for marriage can be a saviour.
What makes this loan work in favour of both travel and wedding is the flexi facility offered by lenders like Bajaj Finserv. Courtesy of this, you can make multiple withdrawals from your sanction as per your needs. Here interest is charged only on the amount you use. Additionally, you can choose to repay the loan as interest-only EMIs and pay the principal only at the end so as to manage your cash flow better. So, you can tackle unexpected expenses more affordably.
Ease of Application Suits Overseas Education Expenses
Higher education boosts your kid’s career prospects, especially if he or she is planning to study abroad. Based on the course, however, the tuition fees with living costs can total up to quite an amount. A personal loan customised to fund higher education costs will come in handy in this regard. Unlike an education loan, this loan has no restrictions on how the money is spent and offers you two great advantages: simple personal loan eligibility terms which makes it easier for you to qualify and a fast online application that makes applying quickly to meet your child’s tuition deadline a reality.
Apart from the above, you can use funds from your personal loan in a multitude of ways like for home renovation or even a down payment for a car. To enjoy instant approval, check your pre-approved loan offer from Bajaj Finserv and apply by filling in basic details. Unlock attractive personal loan deals online that are customised for you and use them to attend to all your big- and small-ticket needs easily and conveniently!