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What Are Short-term Personal Loan Options Available in India

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Short-term personal loans prove to be useful during financially challenging times. It is a preferred loan option due to its shorter repayment tenure. Being a short-term loan facility, the risk of defaulting on the loan account is rare. However, one feature to look after is a higher rate of interest as compared to the traditional secured loans that come with a longer repayment tenure. Short-term personal loans are the best option, which even a first-time borrower can avail for meeting various short-term needs like medical expenses, rent, etc. Payday loans and cash advances are types of short-term loans.
 
There are now various instant personal loan apps available through which one can easily avail of short-term loans from the comforts of their home or office. Just download the loan app from Google Play Store and get instant personal loans.
 

Features of Short-term Personal Loans

The features of short-term personal loans differ between lenders but some common features are stated below.

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  • Collateral-free personal loan for both salaried and self-employed borrowers
  • Loans available are as low as Rs.10,000 up to 2 lakhs
  • 100% digitized loan application and approval process
  • Hassle-free paperless loan documentation process and online KYC verification
  • Flexible loan tenure can be chosen via the EMI calculator tool
  • Loan once approved gets instantly credited to the borrower’s account within a business day
 
Digitization has led to the development of many new and credible online instant personal loan platforms which provide short-term personal loans for meeting immediate financial requirements. Hero FinCorp is one of the popular instant personal loan apps in India offering short-term loans between Rs.50,000 to 3 lakhs at an affordable interest rate, starting from 11% per annum.
 
Hero FinCorp, is a user-friendly, fully digitized online instant personal loan app that helps with instant money to be used for a variety of purposes. Also, borrowers can know the EMI to be paid in advance via flexibly changing the variables in the EMI calculator, till a suitable EMI is derived.
 

How to apply for a short-term personal loan via Hero FinCorp?

 
  • Get Hero FinCorp personal loan app installed from Google Play Store
  • Register through your mobile number, and provide your email address
  • A loan EMI calculator is made available that helps you customize your loan requirements
  • Paperless KYC verification is the next step
  • Verification of the registered bank account through net banking, retaining the security of data
  • Instant loan approval with a few seconds of verification
  • The loan amount gets transferred to your bank account in a business day

So, take a risk-free short-term loan via Hero FinCorp and pay at your convenience in a flexible tenure of 6 to 24 months. Before applying for a short-term loan, it is important to identify as to which loan type whether the short-term or long-term will fulfil your financial need at that point in time. Getting a short-term personal loan is now easier than before. Simply download an instant personal loan app of your choice and proceed with the loan application as instructed.
 

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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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