In recent years, India has experienced a significant transformation toward digitalisation. From ordering groceries to paying daily bills, everything is online. Regarding getting financial assistance, do you remember standing in long queues to submit the loan application? It seems like a lifetime ago.
As this is a digitally advanced world, you can get financial assistance easily through a mobile loan app. Such loan apps are convenient and help you manage your daily tasks efficiently, from paying bills to tuition fees.
Why Loans Make More Sense
Life is unpredictable. A sudden fee for an online course, a hefty electricity bill after a hot summer, or a last-minute tuition payment can disrupt your budget. However, using a modern mobile loan app, you can manage these kinds of expenses easily. Let’s delve into this:
Flexibility for Every Need
Unlike specialised loans, loans are versatile. You can use the loan amount to cover your semester fees, buy a new laptop for online classes, or even pay off accumulated utility bills. It’s up to you how smartly you use it to reduce your financial burden.
Loans offer flexibility that can be a game-changer, allowing you to address various financial needs with a single solution.
Speed and Convenience
Conventional loans often require several days or even weeks before receiving approval. At the same time, loan apps provide quick financial assistance, often within a few minutes. After approval, the money is transferred straight to your bank account. This instant access to money is critical when you have a pressing bill to pay or a deadline for tuition fees.
Minimal Documentation
With the convenience of loan apps, you don’t have to worry about dealing with heavy paperwork. Most loan apps require only a few basic digital documents, like your Aadhaar and PAN card and a bank statement. They have a paperless process that not only saves you time but is also a more eco-friendly approach to lending.
How to Apply for a Loan?
Do you also want to reduce your financial burden and are wondering how to apply for this quick, hassle-free financial solution? Don’t worry, it’s a simple procedure, consisting of the following steps:
- Download the App: The first step is to open the Google Play Store or App Store and download the loan app.
- Registration: At this stage, you’ll be required to sign up using your phone number and set up a profile, which generally includes sharing some basic personal details.
- Check Your Eligibility: The app will then guide you through a quick process to check your loan eligibility. This is typically determined by factors such as your income level, job stability, and credit history.
- KYC Verification: You’ll be asked to upload digital copies of your KYC documents, such as your PAN card and Aadhaar card. Some apps may also require a bank statement.
- Select Loan Amount and Tenure: Once your details are verified, you can choose the loan amount you need and a repayment tenure that suits your budget.
- Disbursal: After final approval, the loan amount is quickly disbursed directly to your bank account, ready for you to use. Yes, it’s that easy!
Why True Balance is a Popular and Smart Choice
Among the many platforms available, a loan app that stands out for its reliability and user-friendly interface is True Balance. It has become a popular choice for millions of users due to its commitment to transparency and quick service. Here are a few more reasons:
- The entire loan process is 100% digital and can be completed from your phone, eliminating the need to stand in long bank queues.
- True Balance aims to provide financial services to a broad range of individuals, including those who may not have a traditional credit history. This makes it a popular option for people who might be rejected by banks.
- The app offers a variety of loan products, including level up loans and cash loans, with a range of loan amounts from ₹1,000 up to ₹2,00,000, and flexible repayment tenures ranging from 6 to 12 months. This allows you to choose a loan that fits their specific needs and budget.
- Beyond loans, they also offer other services like bill payments and recharges, making it a comprehensive financial tool for its users.
- They also offer loans at competitive interest rates as low as 2.4% per month, helping you stick to your budget while reducing your stress.
Wrapping Up
As digital lending platforms have grown in popularity, the process of borrowing money has undergone a significant transformation.Today, mobile loan apps are the first option people choose. This is because it’s quick, convenient, and saves you the hassle of visiting banks. Smartly utilising a loan for your daily needs can help you maintain financial stability and avoid the stress of a cash crunch.
Apps like True Balance offer a fully digital application, enabling you to apply for loans from the comfort of your home, saving you time and effort.
Get the True Balance loan app and take a step towards smart financial management.