Know how Debt Consolidation Loan works in India | SimplyCash
Debts increase financial burdens making daily life stressful. It can be a long due credit card bill, repayment of cash to a relative or paying off the rent, any liability is a debt that should not be left unpaid. High debts can hamper CIBIL score. So, it is advisable to clear off other loans or credit card bills as affordable monthly EMIs, instead of piling up and increasing the interest rate.
If there is a shortage of money to clear the debt, an easy way out is opting for a debt consolidation loan. It allows multiple debts tolling into single payment. This allows you to reorganize all your financial issues and pay the debts. The online market for personal loan is open to all who can afford to take a loan and pay back. Personal loan for debt consolidation is a great financial support to pay off all the scattered debts with the amalgamation of just one personal loan.
Simply Cash, a secured personal loan app in India is easy to use and recommended for debt consolidation. Individuals seeking urgent funds can register and apply for a quick personal loan up to 1,50,000 without any physical documents and collateral.
Simply Cash personal loan app qualifies as one of the flexible digital platforms that enable easy registration and loan disbursal process without any physical documentation. Download the Simply Cash app from Google Play Store and get started with a quick loan application process for timely academic admissions done annually. The information entered is 100% secured and only limited to the loan sanction purpose.
As Simply Cash app offers an education loan ranging between 50,000 to 1.50 lakh, it is best suited for students or professionals seeking finance for short-term courses, certification courses, or vocational training programs. For example, Online Digital Marketing certification, Diploma in Photography or Merchandising, etc. Moreover, the loan amount is less; therefore, it is easy to pay off the full amount in EMIs.It not only helps you meet all your instant financial needs in just a few clicks but also gives flexible repayment options between 6-24 months on an interest rate as low as 1.67% per month. The interest rate may vary as per the income and profession of the borrower while availing a personal loan for the educational purpose.
Simply Cash educational loan is an unsecured and collateral-free loan that does not require any kind of security against the loan amount. Instant loan apps give 24/7 access, whether you are travelling, in the office, or home.
A personal loan for education becomes far easier with the Simply Cash Emi calculator as it permits you to customize your monthly EMI of interest as per your budget and convenience.
Hence, do not compromise on upgrading your skills. Download Simply Cash on the Android Play store & avail a personal loan for education and accomplish your academic goals, promising a great future.
The benefits and features of personal loan are varied. It relieves you from the financial burden hampering the monthly budget in anyway:
Online instant loan apps provide fast loan approval within 24 hours of duration. It is quick, as no security and no physical documents are required.
When borrowing a personal loan, you do not have to worry about any collateral or security submission against personal loan unlike other financing options.
After the submission and verification of personal loan application, the loan is approved immediately without any further delay.
Loan amount is instantly disbursed within 24 hours or even within a few minutes depending upon documents verification, credit score or relationship with your lender.
Personal loan repayment tenure for debt consolidation is flexible for the borrowers. Use the loan EMI calculator to customize your repayment tenure.
Instant personal loan is simple and quick to acquire with limited documentation. If the process is carried out online via instant loan apps and websites, it involves paperless documentation
Majority of the people evade loan for the fear of limitless documentation and long procedure. But online instant personal loan process has made it simple enough for an individual to get attracted towards personal loan. The nominal loan documentation process may urge you to borrow personal loan for debt consolidation at the earliest:
Duly filled and signed application form
Photo ID Proof that includes Voter id/ Driving license/ Passport/ Aadhar card
PAN card for financial background
Company address and professional details
Residence proof that includes ration card/ passport/ driving license/ electricity bill
Last 6 months bank statement of salary account
For self-employed last 6 months bank transaction
Borrower must be a citizen of India
Borrower must be in an age limit of 21-58 years
Borrower should reflect work stability in the professional profile
Debt consolidation loan is a perfect idea if you are loaded with innumerable loans and debts that are difficult to manage and incurring penalty charges. Download Simply Cash to avail debt consolidation loan with easy to pay EMIs and minimal formalities
Note: If You are in the age group of 21 – 58 years and have a minimum monthly income of ₹ 15,000 then you are eligible for a Personal Loan from SimplyCash. No physical documentation and meetings required, apply for a Personal loan today.
Simply Cash is a new age personal loan app helping borrowers with instant loan facility. Depending upon the requirement of debt consolidation loan, you can borrow up to 1.5 lakhs via Simply Cash. Here is how you can apply for personal loan via the Simply Cash app:
Download the Simply Cash app in your phone from Google Play Store
Register with your email id and mobile number.
One-time password is received for verification
Add KYC details and get real-time credit assessment
Get loan approved and disbursed instantly during business hours
Concluding, online instant personal loans have acted as a boon for women. It has enhanced the level of financial independence for women, encouraging them to perform better in different areas.
Finally, government employees using SimplyCash instant loan app can avail different types of personal loan such as wedding loan, travel loan, medical loan, education loan, pension loan, top-up loan etc. Borrowers can avail a loan amount of minimum Rs. 50,000 to 1.5 lakhs from the Simply Cash app. Once all the online formalities are submitted and verified to be authentic, the loan amount will be disbursed in the borrower’s registered bank account.
Debt consolidation is combining all the pending debts and paying off through one single loan. Months of credit card bill pending can be combined into a debt consolidation loan for easy repayment.
The basic requisites for a debt consolidation loan approval requires proof of income, credit history and financial stability.
Debt consolidation is an unsecured personal loan that does not demand a collateral or a security for approval. This speeds up the time taken for loan sanction.
Non-Banking Financial Companies (NBFCs) can be trusted for debt consolidation loans as these are authorized lending organizations approved by the government.
The pre-payment charges differ depending upon the chosen lending organization. The foreclosure charges vary based on individual terms.
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