There are many emergencies in life where we need quick money to cover all the expenses. In such scenarios, you can apply for a personal loan from any lender and get the required cash instantly without collateral. With the advancement in digitalisation, most of the lenders use financial technology to confirm your application. So, it is now possible to get the loan quickly.
Several online services provide a quick personal loan in a day. The deposited loan amount can be used for any purpose without any restrictions. As we know personal loan is an unsecured loan which can be easily avail without any Collateral and can be used for many purposes i.e, wedding expenses, education fees, bill payment, home renovation, buying new gadgets and much more. So, here’s a list of top 6 ways to get a quick personal loan.
List of Top 6 Ways to Get a Quick Personal Loan
- Apply For A Personal Loan Online
You can easily find several lenders on online platforms that can grant you a quick personal loan with attractive schemes. The terms and conditions vary depending on the loan apps. There is almost no paperwork, and minimal documentation is required. As soon as you complete the application process, you will be notified in a few hours about your eligibility. There are various instant loan apps available for android or IOS devices in their respective google play store & IOS store. With the availability of these personal loan apps, there is no need to stand in long queues and wait endlessly for confirmation of your loan. The process is easy and one can track the status of your loan application within a single click.
- Withdraw Cash Using Your Credit Card
Withdrawing cash advances on your credit card can be another quick option to get the money. But it can be on the expensive side as credit card companies charge cash advance fee which can up to up to 5% on your loan amount. Also, the interest rates can be quite high, which might be a burden later.
- Request Your Employer For An Advance Pay
You can ask your employer to give you an advance on earnings before payday to cover immediate expenses. You won’t be charged with any interest rate as you are borrowing your own money. The only disadvantage is that the amount that you will borrow will get deducted from the standard amount that you receive on payday.
- Borrow Money From Friends And Relatives
Your friends or family members can help you in case of financial emergencies. But it may not be a suitable option as the lenders might have a fear of losing money or your relationship with them may be harmed.
- Get Help From Charity
There are several local community organisations and religious groups that help people with financial emergencies. You can seek help from them to get loans at low-interest rates.
- Take A Loan Against Life Insurance Policy
Borrowing against a whole life insurance policy is one of the quickest ways to get cash in hand when you need it. There is no process for approval as you are borrowing your own money, and also there are no mandatory monthly instalments.
You can follow these options to get personal loans quickly and without any hassle. Out of all these options, taking a loan through a personal loan app is the most advantageous. It saves you from all the rush and provides various offers to the borrowers. A personal loan can give you financial security in times of need and reduces your burden. Also able to track the status of the loan application easily.