One of the main advantages of such an instrument is that it guarantees rapid disbursement. The past 18 months have shown us how uncertain times can be, and there is little that you can do to prepare. This is especially true when it comes to emergencies, but you can easily manage them with such offers. You don’t have to worry about the length of the proceedings or the fear of exhausting your financial reserves in the event of a crisis. A pre-approved personal loan eliminates the need to dip into your savings and is a reliable option for instant financing.
To learn more about a pre-approved personal loan offer and its benefits, read on.
Difference between a personal loan and a pre-approved personal loan
A pre-approved loan is an unsecured, unsecured loan that you can access based on your creditworthiness, similar to a personal loan. However, when you want a personal loan, you have to approach a lender for the loan, which is not the case with a pre-approved loan. Here, the lenders provide you with personalized loan offers that you can choose to accept. This allows you to take advantage of special offers.
You obtain pre-approved loan offer if you have a good credit history and have the necessary financial data. Since your creditworthiness is already assessed before the offer is made, loan processing is quick and easy. So, with a pre-approved personal loan offer, you are accessing funds in no time.
Benefits of a pre-approved personal loan
A personal loan is packed with benefits such as unrestricted use, quick application process, and quick approval. The same benefits also apply to a pre-approved personal loan, in addition to a few others. Read on to learn all about the benefits of a pre-approved personal loan.
Fast and efficient procedures
A lender offers you a pre-approved loan after assessing your credit profile. Therefore, all of the underwriting processes that take place after your personal loan application have already been completed. So you just need to check your pre-approved loan offer, accept the terms and conditions and wait for your loan amount to be disbursed. This saves you the hassle of choosing a lender, applying for a personal loan, and going through approval procedures. A personal loan is an unsecured loan, ensuring a quick application process. In the case of a pre-approved personal loan, this period is even faster, which makes it significantly faster.
Attractive and competitive personal loan interest rate
Since you are selected by the lender based on your borrowing history and creditworthiness, they offer you a competitive interest rate. These interest rates on personal loans are generally not applicable to regular applicants. Also, since the loan is being offered to you, lenders are open to negotiating interest rates and other loan terms.
Minimum documentation and rapid disbursement of the loan sanction
To get a personal loan, you need to apply for it offline or online. This involves filling out the application form, submitting the necessary documents and getting approval. However, since this is a pre-approved personal loan offer, you do not have to go through this process and may need to submit basic KYC documents. Some lenders even offer a fully paperless layout, which means you only have to check a few pre-filled details. Once you have done that, all you have to do is accept the offer and authorize the disbursement. In a few hours, you will have the amount credited to your account.
Find your pre-approved offer without disclosing too much personal information
Now you can get a personal loan online from the comfort of your own home. All you need to do is log into the lender’s website or personal loan application, complete a detailed application form and attach the necessary documents. (However, before you apply for a loan, you should do your research for the best loan deal and check the lender’s personal loan eligibility criteria.) Is this line necessary? But with a pre-approved personal loan offer, you don’t have to do any of that. You can verify your pre-approved loan offer by simply providing your name, phone number, and city.
For example, you can get a Bajaj Finserv pre-approved loan in just seconds. Check your pre-approved offer by sharing basic information. With a personal loan pre-approved by Bajaj Finserv, you can get a penalty of up to Rs. 25 lakh and shell out the full amount in no time. Additionally, you can choose to repay on a flexible repayment term of up to 60 months so that IMEs are always within budget. Calculate the EMI personal loan using the EMI calculator to find the best terms before taking advantage of the offer. Considering the advantages applicable to this personal loan, apply online for a smooth borrowing experience.
Disclaimer: This content is distributed by Bajaj Finserv. No HT journalist is involved in the creation of this content.
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