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Instant loan apps enable users to apply for a loan, manage their current loan account and avail a host of other services. These apps are developed by financial intuitions to provide better and more convenient services to their customers.
These apps allow customers to perform several activities without leaving the comfort of their home. Some of the prominent features of these online loan apps are –
- Manage account: These apps allow individuals to manage their credit accounts. They can make payments, check payment history and download statements as per their requirement. Borrowers can also check their previous credits and its history.
- Loan application: Customer can apply for various instant loans as well as other types of secured and unsecured credits via such apps. They can upload the required documents with these apps for a hassle-free loan application process.
- EMI payment: Borrowers can track their monthly installment payments via these apps.
- Part pre-payment: Borrowers can part pre-pay or foreclose their personal loans via personal loan apps.
- Regular notifications: Individuals will receive information for every EMI payment, statement generation, etc. It helps them keep track of the activities of their account.
- Pre-approved offers: Existing borrowers can check if they are eligible for any pre-approved offers via these app.
- Browse other services: App like this are usually very comprehensive. These include all the services and products offered by a particular company. Users can browse through these apps to know more about other products on offer. An example of one such comprehensive app is the Bajaj Finserv App.
In this era of digitalisation, where the reach of smartphone and internet is on the rise, financial institutions are offering these apps to lower customers’ hassle.
Must Read = Questions to ask before Applying for a Personal Loan with an App
