online personal loan application

5 Proven Tips to Get Your Personal Loan Approval Quickly

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Personal loans are an excellent source of funds that can be beneficial during a financial crunch. The loans have a simple application process requiring minimal documentation. Though personal loans are user-friendly, getting approval for instant loans could be delayed if there are gaps in your application process. Hence here are a few pointers on how to speed up your loan approval quickly.

Check your Eligibility Criteria Before Applying

Applying for quick personal loans without meeting the lender’s eligibility criteria could lead to loan rejections. Loan rejections are bad for credit scores hence lowering chances of getting another loan in the same timeframe. It is also essential to check the maximum loan amount you can apply for using the lender’s loan eligibility calculator. This will help you not over quote the loan amount.

Check Your Credit Score Before Applying

Checking your credit score will help borrowers gauge their eligibility for the loan before applying. If your credit score is above 750, you can rest assured that your application will be swiftly approved. If your credit score is low, you can identify issues in your credit profile and improve it.

Do Not Apply for Multiple Loans

It could be tempting to apply to several lenders simultaneously to maximize the chances of loan approval. But in reality, this leads to application rejection. Too many applications will lead to multiple inquiries in the credit report, leading to a temporary drop in credit score and hampering your chances to get the loan. 

Calculate your Loan EMI

Calculating your personal loan EMI in advance with the help of an EMI calculator will help apply for a loan tenure and EMI that fits your repayment capacity. 

Apply online

Online loan applications are a quick and user-friendly process. The loan documents are digitally verified, which saves time. The loan application is also traceable online. Once approved, the funds are disbursed to your bank account.

Availability of quick personal loans is easy if you follow the above tips. The loan is an urgent requirement. But doing your research and correctly filling out the application form will ensure that you do not get any unpleasant surprises later.

Must Read: 5 Reasons to opt a Personal Loan for Home Renovation

All About Small Personal Loans

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Small personal loans are unsecured loans that meet cash shortages. These loans are increasingly popular as the sanctions happen quickly. The application process for small cash loans or mini cash loans is very simple. The application process of availing personal loan online includes filling up an online form on the lender website, uploading documents, and selecting a suitable scheme from the options provided by the lender.

Benefits of Small Personal Loans:

  • No Collateral Required
  • Instant Funds Approval and Access
  • Competitive Interest Rates
  • Quick Approval
  • Flexible Repayment Options
  • 100% Paperless Digital Process

Small personal loans are for personal use. These loans are not for any specific reason, unlike other loans like car loans, home loans, education loans, etc. 

How to register for a small personal loan?

You can register for a small personal loan by downloading the “Fullerton India Insta loan app” Before filling in the application for a small personal loan, it is necessary to arrive at an EMI and repayment tenure to pay back the loan amount comfortably. This calculation can be done instantly using a personal loan EMI calculator. After arriving at an EMI for the loan, you can follow the below steps:

  • Open the Fullerton Insta loan app
  • Register to the portal with your phone number
  • Click “Apply now” under instant loans
  • Fill in basic information and the loan amount required
  • Upload the scanned documents 
  • Submit the application

The lender will notify you of your eligibility. If you satisfy it, the loan process will start. The loan will be sanctioned within 24* hours if the submitted documents are in order.  

Additional Read: What Is A Better Way To Apply For Loan, Online Or In-person?

Know Why Opting for an Online Personal Loan Application is a Smart Move

If you need a loan in a financial emergency or to take care of some personal expenses, there are many types of loan options available today. There are two types of loan categories:

●     Collateral loans: To avail of a collateral loan, you must have a guarantor or security. For big loans, land, home, commercial property, etc., are required. Gold, vehicle, financial assets, etc., will help you get a small loan. 

●     Personal loans: Personal loans are unsecured loans and can be easily online. There is no need to provide security against the borrowed loan amount. 

Why Choose a Personal Loan Over a Collateral Loan? 

●     Instant availability: If you need money in an emergency, a personal loan is the best option for you. With a few good instant loan apps, you can go for an online personal loan application without going through the long process of getting a collateral loan. 

●     No end-usage condition: There is no restriction on the spending of your loan amount. You can use the amount for any legal purposes. 

●     No need to deposit any security: You can apply for an online personal application instantly for a small amount without any security. It means no need to possess any asset to get a personal loan. 

●     Better than other loans and credit cards: With the help of loan apps, you can get low personal loan rates, which is better than any other loan and usage of credit cards. 

Filling your online personal loan application is now easier than ever. 

Must Read: Here’s How Personal Loans Can Impact Credit Score?

How To Increase Your Personal Loan Eligibility?

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People, who have a bad credit history or not much of an income to show for their online personal loan application statement can find it hard to get a loan approved. However, there are still things that you can do in order to increase your personal loan eligibility. Here are the important factors on how to increase your personal loan amount.

Factor that Increase Your Personal Loan Eligibility are:

  1. Income Stability – Banks and lenders prefer customers with stable incomes so they would recommend that you think about having extra savings before applying. If you really need a certain amount of cash then prepare yourself financially and show a stable income.  Check your EMIs through a personal loan interest calculator to get more information.

  2. Improve your credit score: Having a good credit history will really help you increase your personal loan eligibility. Getting a secured card and pay all of your bills on time is one way to show lenders that you are responsible with their money.

  3. The Number of Credit Cards: If you have additional credit cards than most banks would prefer people who only have one or two active accounts as this is proof of proper financial management. Showing multiple cards could mean that you’re in debt for the rest of your life and it might be harder to apply for loans in the future.

  4. Whiten Your Credit Report: Whitening your report includes paying down previous debts, keeping balances low or getting them removed from your record entirely if possible. When applying for a new loan, lenders look at your credit history to gauge your creditworthiness.

So improve your eligibility and apply for a personal loan rightaway!

Additional Read: How to Apply for Personal Loan Using Aadhar Card in 2021

How to Apply for a Digital Personal Loan?

Personal-Loans

The internet is a good place to look for information or to make small purchases. Unsecured personal loans are readily available on the web, and applying for them online leaves out the need to visit any bank branches. Many lenders offer this service as they recognize the convenience it offers, but also because it makes sense from their perspective too.

Here are Two Ways in which you can Apply for a Personal Loan:

  • Online application through lenders’ websites: This is the most convenient way to apply for a personal loan. It requires you to fill in an online application form and submit it with the required documents. This approach saves you the hassle of having to visit branches and applying physically. Most lenders, such as Fullerton India, offer an end-to-end digital process. From application to disbursal, everything can be done online. Lenders also offer tools such as personal loan EMI or interest rate calculator and personal loan eligibility calculator to make things easier for borrowers.

  • Personal Loan Apps: In a move to make personal loans available to everyone, lenders offer instant personal loans through mobile applications. You can check your eligibility, fill an application, submit your documents, and track the application from the convenience of your phone. Some of the apps also help you get personalised loan offers from various lenders on one platform.

Personal loans are now available anytime and anywhere to fuel your needs. Check out the best personal loan offers on various parameters like interest rates, tenure, and other fees to make an informed decision.

Must Read: How to get a Fullerton India Personal Loan? – Step by Step Guide

Why You Should Take a Personal Loan to Pay for Your Wedding Expenses

Getting married is an important step in life. It is a truly joyous occasion when you have close friends and family with you to celebrate this stepping-stone. Weddings, on principle, are magical in themselves. But there are various other ways you can make it even more special. 

Here are a few reasons taking a personal loan may benefit you while planning for your wedding. 

It is a quick and easy process

Filling out an online personal loan application is something that doesn’t take a lot of your time, and such loans also get approved quite easily. The eligibility criteria are simple and hassle-free, and funds are disbursed within a short period. 

Easy repayment 

Taking a loan on EMIs is easy to manage and plan. You may already have a percentage of your monthly salary you’re taking out to pay your EMIs, which helps you plan your finances better. Since you already know your estimated monthly amount, it is also possible to pay off the loan earlier, to save on spending excess money on interest. 

Have your dream wedding

This is maybe the most important part of borrowing money to pay for your wedding – that it be one of the best nights of your life. You can have your wedding as you’ve always envisioned it to be, with a designer lehenga, exquisite venue, and delicious food. 

Flexible amount 

Lending institutions allow you to withdraw high sums of money, and this allows you to be quite flexible in your spending. If you have money from the loan left over after paying for the wedding expenses, you can channel it towards paying back the loan or other personal expenses. 

What are you waiting for? Fill out an online personal loan application now, have the wedding you’ve always wanted to have. 

Must Read: Does Fullerton India Personal Loan Help you to Deal With a Coronavirus-led Financial Crisis?

How To Apply For Personal Loan Online?

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A personal loan is an instant credit financial tool that allows individuals to borrow money for incurring all their expenses. During an emergency when you require instant funds for a wedding, vacation, medical emergency, education or any other purpose, a personal loan offers the freedom to use the funds as you please.  

How to Apply for a Personal Loan Online?

Step 1: Browse to the Fullerton India website and click on the ‘Personal loan’ tab.

Step 2: On the personal loan page, read the terms and conditions and click apply for loan here: https://www.fullertonindia.com/personal-loan.aspx

Step 3: You will be asked to log in through your mobile number, which will be reverified through an OTP.

Step 4: You will be redirected to the application form of Fullerton India, where you will have to fill in the details like: Personal, professional and income. You also need to mention the loan amount you are applying for.

Step 5: You will be required to upload some documents like:

  1. Duly filled and signed application form
  2. Proof of identity
  3. Proof of address
  4. Proof of age
  5. Salary slips for the last three months (for salaried)
  6. Bank statement for the last six months
  7. Income tax returns or form 16
  8. Proof of Income / financial statements (for self-employed)

Step 5: Recheck all the mentioned details and submit the form.

Once the above process is done, your application will be analysed and based on that you will receive a call from the customer care executive, who will inform you about the loan terms.

Conclusion

A personal loan is available for both salaried as well as a self-employed individual. Based on the loan terms offered, you can pick the lender of your choice.

Must Read: Get Online Instant Cash With An Instant Personal Loan From Fullerton India