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Instant Cash Loan Vs Credit Card: Which is the better option

Instant Cash Loan Vs Credit Card: Which is the better option
Instant cash loans and credit cards both serve a single goal of helping with immediate finance without many hassles. Anything urgent to buy, most people swipe their credit card and continue with the shopping. While those with instant cash loans also get the benefit of the same-day loan sanction. So, which is a better option? When you are in a financial fix which one will be preferred – Credit card or instant loans?

Clearly, both are great options to support urgent financial needs or to cope up with a shortage of cash. Let’s see the benefits to know which one is a better option:

Instant Cash Loan Vs Credit Card

Both salaried and self-employed individuals with a minimum monthly income of INR 15,000 can use an instant loan app to raise immediate money. No collateral is required as instant loans are unsecured loans and require no guarantee.
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So, if you are preferring credit cards over personal loans, remember you can avail yourself cash in hand through instant loans but not with credit cards. With instant loans, you can know the EMI in advance using the EMI calculator and accordingly plan loan repayments whereas a credit card bill is quite unpredictable and keeps piling up with the additional rate of interest charged per month.
A smart borrower will mostly pick an instant loan over a credit card as the confidential details are intact whereas with credit cards there is a problem of misplacing the card or getting damaged and applying for a new one. Undoubtedly, credit cards are quite handy but instant loan apps give individuals the power to get easy cash loans in just a few steps.

In the lockdown scenario, you may have seen a lot of people struggling with the payment of credit card bills while personal loans are small cash loans, sanctioned with a limited amount which is not hard to pay in a period of 1year or more, as set by the lender.
 

So, if a personal loan is a popular choice, which app is currently reliable to register for a personal loan?

Hero FinCorp is one of the latest instant personal loan apps in India that offers a paperless, and hassle-free way of getting quick loans. The uniqueness of this app is that it allows you to complete the entire loan application without any physical documentation. Hero FinCorp is a reliable digital platform and one of the fastest-growing financial services companies in India.
Download the Hero FinCorp personal loan app through Google Play Store to get an instant cash flow up to 1.5lakh at the tip of your finger.

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Did You Know

Disbursement

The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.

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