3 Hacks to Speed Up the Disbursal of Your Personal Loan

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Require immediate funds? A personal loan is your best options and here’s what you can do to ensure quick disbursals. Read to know more.

A personal loan is helpful to finance a range of goals, such as mobile phone bill payments, rental deposit payments, holiday expenses, a 2/4-wheeler purchase, debt consolidation and more. Moreover, you can use the loan to meet urgent goals. In these cases, it can act as a marriage loan, medical loan, etc.

The primary hack to get a speedy loan disbursal is to apply for it on a reputed fintech company's personal loan app. It offers instant personal loans disbursed within a few minutes after approval. The entire loan process happens online quickly on the loan app on your Android or iOS device. The user-friendly interface of such apps enables rapid loan applications and faster disbursals.

Here are the other three tips to speed up the disbursement of a personal loan.

Provide Correct Details

You can boost the approval and disbursal of a personal loan by providing correct details during the application process. If you apply on a fintech company's personal loan app, you can log in simply with your LinkedIn, Facebook or Google Plus account. So, ensure to provide your correct social media account details. Then create your profile by filling in the other basic required information correctly. For instance, you need to provide accurate bank details to ensure that the loan you apply for is disbursed successfully.

Upload Genuine Documents

If you submit genuine documents, they will be verified successfully, and you can quickly get the loan approved and disbursed. If you apply for a personal loan on the app of a fintech company, you can simply upload the documents online. These may include your PAN card, permanent address proof like your voter ID, your selfie as your photo proof, your latest bank account statement to show your credited salary, etc. Make sure to provide authentic and genuine documents for a seamless loan process.

Optimise Your Social Media Presence

The personal loan app of a top fintech company uses an advanced credit rating system called Social Loan Quotient (SLQ). It assesses your creditworthiness using modern factors like your smartphone metadata and social media footprint. So, make sure to have an excellent social media presence to maximise the chances of qualifying for the loan and speed up the loan process. Refrain from stalking profiles or leaving inappropriate comments on social media. This can up your SLQ score and establish good social behaviour for the digital lender.

Conclusion

Choose a suitable loan amount and tenure from a host of options available on the personal loan app. Once your loan request is approved, the sanctioned amount will be credited to your bank account. You can then use the loan for marriage, relocation or other urgent goals.

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