What should I do if I want a personal loan

A personal loan is a personal finance facility that supports immediate cash needs for various purposes. The personal loan facility is not limited to a specific purpose. These days applying for a personal loan online is easy and not at all time-consuming like bygone days.

So, the question is what should a borrower do for availing a personal loan. Here are some actions you can take to seek a quick personal loan:
 

• Always keep the purpose clear before taking a personal loan
• Calculate how much loan you require to meet your financial goal
• Evaluate the amount of EMI you will be able to afford every month
• Keep your smartphone ready for instant personal loan app download
• Download a personal loan app from Google Play Store only, it is a credible source
• Read the eligibility criteria on the lender’s website or instant loan app before proceeding for a loan application
• Know the interest rate, processing fee, loan terms or hidden charges, if any before submitting the loan application. This can eliminate the chances of disapproval/cancellation

Once the above basics are done, you are good to go with creating a personal loan application that generally gets sanctioned within 24 hours if applied through an instant loan app. It is speedy because there is minimal formality involved. Being an unsecured loan, a personal loan is collateral-free that saves borrowers from mortgaging their assets or bringing in a guarantor for the loan. Besides, the documentation is also accepted in a paperless format. So, these are some benefits of applying for a personal loan online.

If you are looking for a personal loan to meet your home needs, travel expenses, education fees or any other emergency expense, do check for HeroFinCorp, an instant personal loan app from HeroFinCorp, a credible financial company in India. Borrowers are sure to get a loan between Rs.50,000 to 1.5 lakhs via HeroFinCorp.
 

So, what should you do to apply for a personal loan via the HeroFinCorp instant loan app?

Here is an elaborate user journey clearly defined for those willing to apply for a personal loan via the HeroFinCorp app:
 

1. First, get the HeroFinCorp instant personal loan app on your phone. Download from Google Play Store.
    
2. Register to create your account. Enter email id and mobile number. It is secured and verified using a one-time password.
    
3. The next step will take you to the EMI calculator. Here, you can choose a preferred loan amount between 50,000 to 1.5 lakh. The calculator lets you choose the principal amount, interest and tenure. Set an appropriate EMI, matching your budget. Manual EMI calculations are complex, this tool will give you 100% accurate results.
    
4. Complete the loan pre-requisites, enter the Aadhaar card number, a mobile number linked to your Aadhaar card, Pan card number and Bank Account affiliated to HeroFinCorp. 
    

1. Login to the bank account and verify details of the bank account that you use frequently for transactions.
    
2. Set up your repayment or e-mandate and create an electronic signature with a single click.
    
3. It may take a while to process the details. Finally, the loan amount will be credited to your bank account.
    

Both salaried and self-employed individuals in an age group of 21 to 58 years and earning a minimum of Rs.15,000 every month can apply for an instant personal loan via HeroFinCorp.