Life is unpredictable, you never know when you might get stuck in an emergency and need funds instantly. Hence, it is always said to be prepared no matter what the situation is. But we all know such problems and emergencies can be faced by anyone at any time.
With all the advancements in technology, we have found the perfect solution for all such financial emergencies that we might encounter in the future. Instant personal loans are something that can help you in the process of getting access to instant funds without any extra hassle of standing in long queues and waiting around.
The question here is how do you get these loans and how do you qualify for such loans? Here we are going to give these answers and help you with your financial planning.
Availing Loans Upto Rs.20,000
With instant personal loans and instant loan platforms like FatakPay that are available in the market, you can easily get access to such loan amounts for any financial emergency. FatakPay is one such platform that has been designed to offer you instant loans with minimum documentation and a hassle-free process.
Here you can get the loan approved within a short period and enjoy the funds without any issues. This platform offers you instant loans of Rs.1000 or more based on your credit score and repayment history.
Additionally, there is a small convenience fees that is charged by the platform with an easy and reliable repayment structure which is designed keeping in mind the needs of our customers. You can either repay the full amount at once if you have a small loan amount or choose for EMI structure for a large amount of loan.
For a 20,000 instant loan repayment you can easily go with the full payment option as this is a small amount of loan and easy to repay at once. You can find more details on the app, and explore more features once you download the app.
Qualifying for Instant Loan
Moving forward with the discussion, let’s have a look at some of the factors that might play a role in you qualifying for these instant loan approvals.
The major point here is your credit score. Having a good credit score (above 600) is something that you need if you wish to secure an instant loan of Rs.20,000 or higher with any of the lenders that are available. The majority of these lenders offer you loan amounts based on your credit score and your capability to return the loan amount on time.
Furthermore, given below are some of the other key points to look at.
By avoiding any late fees, or pending bills you can ensure to maintain the health of your credit score further enabling you to get the desired loan amount. Along with this, ensure that there are no outstanding loans that you might have as it can harm your overall credit score.
Even though these platforms offer you instant loans with minimum documentation you are still required to give your ID proof which is one of the most basic documents. Hence, keep your documents ready with you to submit at the time of loan application.
Lastly, borrow only the amount that you need and can repay on time. Borrowing a large amount of money that you cannot repay is something that should be avoided as it can again hurt your credit score and reduce your creditworthiness. Hence, it is advisable to borrow wisely.
Instant Loans with FatakPay
In the above discussion, we have already listed some of the appealing features of FatakPay as an instant loan provider and platform. Another important feature and aspect here is that it is backed by RBI-registered NBFCs which makes the platform safe and secure to be used for availing instant personal loans.
Not only this, but you can also download this app directly on your phone and explore the exclusive features and offers for you. This makes your financial management simple, easy, and convenient as well.
Final Thoughts
Secure an instant loan online with the above-listed features and points and ensure to maintain financial stability in case of any emergencies, be it educational, health, or travel plans. Instant loans online are available at your disposal to be your saviour.
FAQs:
1. How do I apply for a loan upto Rs.20,000?
Apply for an instant loan online with FatakPay’s easy mobile app by submitting your required documents. Based on your credit score you can easily get a loan upto 20,000.
2. What are the repayment terms for a Rs.20,000 loan?
Since 20,000 loan amount is not a huge amount, it can be easily paid in one full payment. However, if your loan amount exceeds to a higher number, you can go with an EMI option to be availed.
3. Are there any fees associated with a loan up to Rs.20,000?
Yes, there is a minimal convenience fee that is charged by the platform.
4. What can I use the loan funds for?
These funds are flexible in nature and can be used for a wide range of purposes such as education, travel, health, shopping, bill payments, and others.
