The only constant thing in life is change. Life can surprise you with impromptu trips or shock you with some medical issues or the breakdown of a vehicle or an appliance when you needed it the most. Need for finances may arise at any time and one must be prepared to meet these demands as and when they arise. The ideal way of financial planning is to have sufficient money whenever required but when one’s savings are not enough or are invested somewhere, one may need to borrow the required funds for unforeseen circumstances.
Borrowing from friends and relatives may not always seem appropriate to some. So, if someone wants to be completely financially independent, one will have to resort to other methods of borrowing. There are many other ways in which major purchases can be funded like using credit cards, getting a personal loan from banks, etc. but all of these come with certain costs involved. Moreover, the major disadvantages in using these methods are clearance times, high-interest rates, a requirement of a good credit score, complicated processes where one might need to borrow money in lieu of one’s property and assets. Also, if the money is not paid back in time, the penalties are high enough to burn a hole in one’s pockets.
On the other hand, there is another method which comes as a blessing for all small personal loan borrowers and that is the instant loan providing app called CASHe. CASHe does not require one to have a great credit score before applying for a loan. They provide small loans ranging from Rs. 10000 to Rs. 2 lakh instantly under 8 minutes. It seems quite unbelievable but it is completely true. All you need to do is download the app from play store and have copies of Aadhar card, PAN card, latest salary slip, & last three months’ bank statement. The whole process is hassle-free and paperless. In this busy life, time saved is equivalent to money earned. The simplicity of this app makes it the most preferred mode of borrowing money for those who want to save their time and energy.
The decision of getting a personal loan to fund major purchases should be taken after carefully analyzing various options and the costs involved with each one of them.