All About Instant Cash Loan Online

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CASH LOAN
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What is a Cash Loan?

• Small assistance to an individual at the time of
  need.
• Easy approval disbursal with flexible
  repayments .
• Given out to individuals with capacity to repay
  in a short duration.
• Unsecured loans for the amount to be repaid.

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Cash Loan Vs Personal Loan

• Amount Cash loans are smaller, Personal loans
  are available upto 15-20 lacs.
• Loan duration Cash loans have shorter duration
  of repayment Personal loans can last upto 10
  years.
•  
• Credit score Cash loans are available to people
  with bad credit scores also, Personal loans for
  good credit scores is relevant.
•  
• Process Cash loan is easy and fully online.
  Personal loans have a long drawn process
•  
• Documentation Cash loans work on minimum
  documentation. Only an ID proof along with the
  address proof. Typically, personal loans require
  extensive documentation depending on the loan
  provider.
•  
• Security Cash loans are unsecured whereas
  personal loans take charge of valuable assets
•  
• Interest rates Interest rates on cash loans are
  high whereas personal loans are relatively lower.
  

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Eligibility of Cash Loan

• Cash loans are not subject to strict eligibility
  and therefore are human-friendly. Yet, cash loans
  have basic necessities that need to be fulfilled.
• Source of Income The borrower must have a
  minimal source of income. The amount of the
  monthly income required to get the loan varies
  from bank to bank. Some even offer a loan to a
  person earning 5000 a month. The borrower must be
  able to justify his/her income with supporting
  documents.
• Age A borrower should fulfil the minimum age
  requirement that is again variable from 19-21
  years.
• Supporting documents To get cash loan one has to
  fulfil the minimum documents required that can be
  limited to Aadhar and PAN card.
• Duration of employment The borrower must be able
  to justify the minimum tenure of his employment
  required by the lender.

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Factors to be Considered before taking a Cash
Loan

• Interest rate
• It is the most important parameter to be
  thoroughly analyzed before taking a cash loan.
  Since cash loan is offered for a shorter
  duration, the interest rates are usually higher
  than other loans, therefore, it is important to
  compare the best available offers and choose the
  one that offers minimum interest rate. Interest
  rates are variable and go up to 30 also,
  therefore, it is wise if you choose wisely by
  making a detailed research.
• Duration of loan
• Cash loans are offered for a short span of time
  that can be limited to a month also. It is always
  better to choose a mid-way because too short
  duration of loan has the highest interest rates
  that make it an expensive deal, therefore, it is
  better to choose the duration where you dont
  feel burdened or end up paying extra instead you
  comfortably pay the amount.
• Amount of loan
• Cash loan brackets vary for different banks. Some
  banks cater to the lower middle-class sections of
  the society, some target the middle-class. The
  section targeting the lower middle class usually
  have small amount bracket ranging from 20,000 or
  even less to 50,000 or more. You are the best to
  decide upon the loan amount as per your needs.
  Take it only when you need it since you have the
  sole responsibility to repay it.
• Security of platform
• Security of the platform from where you avail the
  loan plays an important role. It is important to
  thoroughly research on the credibility and
  security of the platform you wish to avail the
  loan from. Since cash loans are small amount and
  instant, the entire process can happen online. Be
  aware yet!

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Summary

• Cash loans are the friendliest options available
  provided you repay the amount on time and avail
  the option only when you need it because inviting
  unwanted liabilities can make you feel burdened
  and you would feel the weight of it every month.
  Make your life free from such instalments and
  live a life of freedom on your hard earnings.

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THANK YOU !!
To Know More Visit www.purposeloan.in