Personal Loan Malayalam – How To Get 1 Lakh Personal Loan Within 3 Minute – Instant Loan – Personal Loan 2023
Online loans and loan apps have become a popular option for people looking to borrow money quickly and conveniently. In this article, we will discuss the basics of online loans and loan apps, including how they work, their advantages and disadvantages, and what to consider when using them.
What are online loans?
Online loans are personal loans that are applied for and processed online. The entire application process, including submitting documentation and receiving approval, is done through the lender’s website or app. The loan is then deposited directly into the borrower’s bank account, usually within a few business days.
What are loan apps?
Loan apps are mobile applications that allow borrowers to apply for loans through their smartphones or tablets. They work similarly to online loans, in that the application process is done entirely online. However, loan apps may have additional features, such as loan calculators, credit monitoring, and loan management tools.
The IIFL Loans app is a mobile application developed by India Infoline Finance Limited (IIFL), a leading financial services company in India. The app provides a platform for customers to apply for personal loans, business loans, and home loans, as well as to manage their existing loans.
Features of the IIFL Loans app
Loan application: Customers can apply for loans through the app by filling in the necessary details and submitting the required documents. The app provides a simple and hassle-free way to apply for loans, without the need for physical documentation.
Loan tracking: Customers can track the status of their loan application through the app. They can also view the loan amount, tenure, interest rate, and other loan details.
Loan repayment: The app provides a convenient way to repay loans through various payment options such as UPI, net banking, and debit card. Customers can also set up auto-debit instructions for their loan repayments.
Loan calculator: The app provides a loan calculator that helps customers calculate their loan eligibility, EMI, and interest payable. Customers can adjust the loan amount, tenure, and interest rate to see how it impacts their loan repayment.
Loan statement: Customers can view their loan statement and download it for their records. The statement provides details such as the loan disbursal date, EMI due date, and outstanding balance.
Advantages of the IIFL Loans app
Convenience: The app provides a convenient way to apply for loans, track loan status, and make loan repayments, all from the comfort of the customer’s mobile phone.
Security: The app is secure and uses industry-standard security protocols to protect customer data and transactions.
Customized loan offers: The app provides customized loan offers based on the customer’s profile, making it easier for them to choose the right loan product.
Real-time updates: The app provides real-time updates on loan applications and loan status, giving customers the peace of mind that their loan application is being processed efficiently.
User-friendly interface: The app has a user-friendly interface that makes it easy for customers to navigate and use.
In conclusion, the IIFL Loans app is a useful tool for customers who are looking for a simple and convenient way to apply for loans, track their loan status, and make loan repayments. With its user-friendly interface, security features, and customized loan offers, the app is an excellent option for customers looking for a hassle-free way to manage their loans.
Loan Details :
-> Laon Providing Company : IIFL Finance Limited
-> View loan details of all your existing loans with us ( Gold Loan, Business Loans, Home Loans)
-> Loans ranging from INR 5,000 to INR 1,00,000
-> Disbursal within 24 hours
-> Minimum APR (Annual Percentage Rate) is 22%
Maximum APR (Annual Percentage Rate) is 28%
-> Minimum Tenure is 3 months and Maximum Tenure is 12 months
-> Processing Fee is 2% – 4%
-> Example
- Loan Amount: ₹20,000
- Tenure:180 days (6 months)
- Interest Charged: ₹ 1,426 (24% per annum)
- Processing Fee: ₹236 (1% of Loan Amount – ₹200 + GST @18% – ₹36)
- Amount Disbursed: ₹19,764
- EMI Amount: ₹ 3,571
