Nestled against the backdrop of the Himalayas in the Doon Valley, Dehradun is the winter capital of Uttarakhand. It stands at an altitude of 1467 feet above sea level. The quaint city is located around 243 km north of New Delhi. It is home to several elite educational institutions, including the Dehradun Institute of Technology, Forest Research Institute, Wildlife Institute of India, Doon School, St Joseph’s Academy, Welham Girls’ School, and so many others. Dehradun is a scenic delight for visitors and tourism is its primary source of revenue. Sahastradhara, Robber’s Cave, Tapkeshawar Temple, Tiger Falls, Tapovan, and Mindrolling Monastery are among the major tourist spots in Dehradun. The city also houses several manufacturing units and offices of renowned companies like Serco, Genpact, Aptara, Spice Digital, etc. Instant Loan in Dehradun is quite popular. Kumaoni Holi, Jhanda Mela, and Magh Mela are some of the festivals celebrated with much enthusiasm in Dehradun.
Thanks to the flexibility and the simplicity associated with an instant loan, it is the most popular and demanded source of funds in India. An instant loan offers many exclusive features that makes it a favorite among the borrowers in Dehradun. Listed below are some of the most attractive features of an instant loan:
Flexibility - The funds that are obtained through an instant loan can be put to any use, as long as it is not for speculative or illegal purposes.
Loan approval - Usually within an hour from the loan application, the loan amount will get disbursed into your account, just as the name suggests.
Loan application - An instant loan can be placed online as well as offline. The borrower can use the app, the website, or can also call the customer service desk to make a request for the loan. The procedure, from the loan application to the transfer of the amount remains smooth, transparent, and quick.
Minimal paperwork - One of the reasons why instant loans are so popular is that they hardly require any paperwork at all. Not more than five documents are to be uploaded under any circumstance.
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Instant loans are typically of two types- Unsecured loans that don't require collateral security and secured loans that require the borrower to pledge collateral security against the loan. Borrowers that get a instant loan get access to various benefits as compared to those that borrow unsecured loans. For instance, borrowers that avail secured loans get to borrow a higher loan amount. Since borrowers are required to pledge an asset whose market value needs to be about 30% more than the loan amount, the eligibility criteria are also relaxed. To avail a secured loan, you'll only need basic documents such as PAN Card and Aadhaar Card. However, this isn't the case with unsecured loans. When you apply for an unsecured loan, your loan approval depends on several factors such as your debt-income ratio, existing credit profile, and income status. Additionally, to be eligible for an unsecured loan, as a borrower, you will need to have a minimum income of INR 21,000 per month. Along with this proof of income, you will also have to submit other documents such as PAN Card, Aadhaar Card, Age proof, Income tax file, Account transaction statement, and sometimes even a guarantor. If you are looking to avail a quick, hassle-free loan, secured loans are the way to go.
The best feature of an instant cash loan is its speed. To avail a loan, you have to download the lender's app or visit their web portal and place the loan request. Generally, within a few minutes of lodging the application, an official representative will call you and fix an appointment. After this, an approved loan officer would visit your house or office and verify the documents. However, in case of a collateral-free loan, lenders often carry out the verification online. In case of a collateral-based loan, the officer would reach the place of your convenience within 30 minutes of placing the loan request. After physical verification of documents, the officer would approve your loan and ensure seamless transfer of the loan amount to your account. Ideally, the entire process from loan application to loan disbursal takes no more than 60 minutes.
When faced with some financial turbulence, it is common to find people opt for a credit card without realising the implications of failure of repayment of the debt. Although you can use an instant cash loan to pay off a credit card related debt, it is also advisable that rather than relying on a credit card for emergency funds, you can obtain urgent loans through an instant cash loan online since it is a better option. An instant loan is a better source for urgent loan for a variety of reasons. The loan interest rate on an instant cash loan is lower than that of credit cards.Credit card debt can also cause severe damage to your credit score, bringing down your eligibility for loans in the future.
Equated Monthly Installment, or EMI, is a combination of principal and interest and is calculated by factoring in the loan amount, loan interest rate, and loan term. During the early part of the repayment tenure, you pay more towards the interest, and as the end of the tenure approaches, the interest component comes down, and you start repaying the principal. The loan amortization schedule is a tabular list which shows the break-up of the principal and the interest component. For example, if you are applying for a loan amount of INR 10 lakh for a repayment tenure of 12 months at an interest rate of 10%, your monthly EMI would be INR 87,920. The EMI is linked to the loan term and the interest rate. Hence, if the interest rate increases and the period remain the same, the EMI would increase. Similarly, if the term decreases and the interest rate remains the same, the EMI would increase.
For all kinds of emergency funds, an instant cash loan is the best option as it provides urgent loans. Even in the case of home renovations or repairs which can include plumbing works, electrical work or just about anything, as long as it is not illegal. You can use the obtained funds for your requirements - even if that is getting a new air conditioner or a television or any other gadget. The loan application process is very simple, which can be completed either by visiting the web portal of the lender or by downloading their app. The instant-loan approval, which requires the submission of a few documents doesn’t usually take more than an hour. The required documents include your Aadhar Card, PAN Card, etc, among a few others. The loan interest rate is determined by your credit score as well as your income. You can also opt for an instant cash loan against a collateral.
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