Short Term Loan

Taking a personal loan is a subjective need. The financial emergency can vary depending upon short-term or long-term instant loan need. If the loan requirement is under 3 lakhs, you may opt for instant short-term loan.

Short-term loans are small cash loans, basically an unsecured loan type that doesn’t demand a collateral for instant loan approval.

There are hundreds of personal loan apps available for short-term loans online. However, a secured personal loan app, by Hero FinCorp proves to be one of the best short-term loan apps, helping with immediate cash needs.

A short-term personal loan is a type of small cash loan that is approved instantly in a small amount via an instant cash loan app. A limited amount is approved for a shorter tenure with an affordable rate of interest.

A short-term loan is a small cash loan that can be easily repaid in a tenure of 12 months to 3 years. It is a limited loan amount that can suffice immediate cash needs. Short term loans enable borrowers to avail of short-term loans from Rs.50,000 to 5 Lakh.

The best source to get a short-term loan in less time is via instant personal loan apps online. Download the app, initiate the loan application and expect the loan approval instantly in minutes.

Short-term finance is useful for managing various financial expenses. It can be used for the management of urgent monetary needs or as a commercial capital to support mid-size businesses. Home repairs, renovation, educational fees, medical expenses, etc. can all be covered under short-term finance.

A short-term loan is an unsecured loan taken for a shorter period not more than a couple of years whereas long-term loans are secured loans that require a collateral/guarantor for approval. Long-term loans are generally of a longer tenure is 3 years.

You can download an instant personal app like HeroFincorp Personal Loan app to avail immediate cash loan for supporting urgent financial needs. Immediate cash loans are short-term loans that are approved and disbursed within 48 hours.

The advantages of short-term finance are varied:

• - Quick loan approval through instant loan apps
• - Collateral free that reduces the time taken in loan processing
• - Fulfils urgent cash needs in times of emergency
• - Not heavy on the pockets, borrowers do not hesitate in taking short-term finance
• - Repayment is easy as the loan amount taken is affordable to repay

There are very few disadvantages of short-term loan:

• - Limited loan amount is approved that might not be enough to fulfil all your instant cash needs.
• - Interest rate levied is on a higher side as the loan is collateral-free in nature
• - Pre-payment if done, incurs a penalty charge

There are multiple instant personal loan apps in India that provide short-term loans. HeroFinCorp is one of the leading instant loan apps helping borrowers with short-term loans up to 3 lakh.-

Borrowers can avail a minimum of Rs. 50000 and maximum of Rs. 5 lakhs through short term loans.

Short term loan EMIs can be repaid easily via net banking or automated mode of payment.

As the loan amount is less and taken for a less period of time, no collateral or security is required against the loan.

The repayment tenure for short term loans is generally up to 3 years, depending upon the lenders.