Bank apps and EMI’s: Convenient loan repayment through your smartphone

A smartphone has become a necessity, if not an obligation in today’s time. Gone are the days where a phone is only used as a means to communicate with an individual through a phone call. Today, plenty of activities can be executed, both simple and complex, such as accessing media files, or even performing financial functions.

But amongst the various financial functions that can be undertaken, applying for a loan of your choice is now available. Just like the traditional application process, you can now get access to borrowed funds, right through the comfort of your phone’s app.
You simply need to download the app and install it on your phone. Once installed, you just need to register your account with your unique customer ID.

This unique identity is provided when you open an account with the lending financial institute. Since all your personal and address details are verified at the time of your account opening, the same details are accessed by the lending institute’s system when you verify your account through the loan application app.

But this alone is not the only benefit of bank loan.
Like any other application process, the loan does not end only with access to the funds. You must also understand the means to repay back the borrowed funds. You will need to understand your repayment capability and current debt management in terms of EMI affordability. This is where tools such as the loan EMI calculator will work assist you and work in your favour.

The EMI loan calculator will provide you with the following benefits:

• Know your tenure: One of the features of the EMI value determines the repayment value and the tenure. Since different loans will have different tenures, it is crucial to get an understanding of the time taken to repay the loan. After all, you would not want to be a position where you would spend years in debt paying off a small amount when you can adjust for a shorter tenure and an affordable EMI amount.

• EMI affordability: As previously mentioned, applying for a loan also requires having the means to repay back the borrowed funds. For this purpose, the EMI value is a crucial factor, as it determines the monthly value and tenure required to back the borrowed funds, interest rate along and other additional charges. The inbuilt loan EMI calculator will help you plan understand your EMI affordability. Through this, you will be able to understand how much you can pay through the given EMI’s or adjust for a lower value.

• Provide flexible rates: One of the main challenges of a loan is calculating the appropriate loan and EMI value. While you can afford a particular loan value, opting for a flexible rate will help you manage your finances, especially if you have several other financial obligations. The EMI loan calculator will help you calculate flexible rates as per your requirements, which can be adjusted to you desire in mere seconds. 

Get instant loans through your smartphone app with a click of a button

Managing your finances has now become more convenient, thanks to the smartphone platform. You can now easily make money transfers from your phone, get real time updates about transactions and even open a bank account when required.

But did you know you, can also get quick loans through the loan application app?

At some point in life, your financial requirements will require you to apply for a loan. Be it a loan for personal needs, or a specific requirement such as purchasing a home, a two-wheeler or even a car, the financial assistance will aid you in your venture. But while loan itself will provide you with financial aid, is the process that is often tedious and time consuming.

It often requires multiple visits to the lending institute, collection of documents and tedious wait of getting the loan processed. But with instant loans you can get the loan approved and the amount deposited in your account in a matter of few minutes or hours.

Here is how it is done:

Step 1: Download the required app: You only need a steady and secure internet connection to access the Google Play store or App Store. Once you access it, you can easily search for your required app and down load it. Ensure that you have the latest version of the app when you install it, so that you stay up to date and protected against any threats or risks.

Step 2: Register your account: Once you have downloaded the app, you will need to create your account. You will be required to provide a unique password along with registering your account assigned customer ID. Once you have finished registering your account, you can now proceed to opt for the loan you want.

Step 3: Select the loan option you would want: Proceed to the loan option section and opt for the loan type you would want. Depending on the loan option you select, you will be required to opt for the call back option, or check your eligibility. In the event you need to check your eligibility, you will need to provide relevant details about your income, place of work or self – business, type of work industry, place of residence and length of residency, monthly earning and current EMI payments amongst many others.

Step 4: Apply for the loan: You can now proceed with the application, by adjusting the loan rate value, tenure and EMI value as per your requirement. Once you have finalised the rates, you can submit your application.

Step 5: Loan application tracking: Once you have submitted your application, you can easily track your loan application with the assigned reference number. If there is no issue with your account details, then the instant loans will be approved.

Why you need a loan application app on your phone today

Appropriate financial management is not only an obligation today but also a requirement. After all, any investment you make will create a positive or negative domino effect on your future financial options. With such a fast-paced world and lifestyle we lead, it is crucial that you make quick and calculated decisions to ensure that your finances are beneficial, if not secured.

This is where your smartphone and its relevant apps will work in your favour. This gadget is more than a tool that can be used to communicate with others. It is now progressed to a multi – functional platform that allows you to manage your finance, amongst many other activities. After all, taking control of your funds is about making finance work for you. Through this platform, you can easily check your bank account, make money transfers and even get your account updated.

But did you know you can also now apply for a loan? With the progression in economic and technological infrastructure, you can now easily apply for a loan online through a single app. Because at some point in your life you will need to apply for a loan, such a financial tool will work in your favour.

Here is how a loan application app on your phone will benefit you:

Quick loan application and disbursal: One of the main factors that affect the loan request is the application and disbursal process. In either case, through the traditional means, the time taken would be lengthy, as various verification checks and call backs would be required. However, since you will be using a unique and verified identity number to apply for a loan, through the app, the time taken for the verification process will be shorter. Consequently, it would also reduce the application and disbursal time, leading to a quicker loan access for you.

Optimum security: When you apply for a loan online, you would be required to provide your financial details. This could include your account details, financial details and login details. Such information, if accessed by an unauthorised individual or entity, can compromise your finance and account. However, application through the app will be bound by stringent security features. Furthermore, since the app platform undergoes constant change and upgrade, it provides optimum security against any evolving challenges and risks. Thus, once you begin the loan application process, you can be well assured that your finances will be protected right from the beginning to the end.

Instant loan deals: Getting the right loan rates is crucial, as it benefits you as a customer as well as the lending institute. But in order to make a loan decision, you must be aware of the loan rates available. This is where instant alerts on your loan application app will work in your favour.

Having a smartphone with the loan application app will help you understand and plan your finance right from the beginning to the end. Download the app now and make the most of the loan features to get the best loan rates today.

Check your car loan requiremets right from the comfort of your smartphone

Not everyone can afford to the buy the car of their dreams. Some might need a little extra help and that’s where car loans come in. These loans can help individuals buy a car they always wanted, provided they meet certain criteria for the same.

Unfortunately, the criteria for the car loans of different banks are different; and even one single bank can offer multiple plans for the same.

Hence, finding out which car loan suits one the best can be quite a challenge as one would need to put in plenty of hours of research. This might not be possible for many due to time constraints as well as other commitments. Luckily enough, a simple solution to this problem exists, which can make it very easy for one to check their car loan requirements.

What is this solution?

This easy solution is downloading the loan app on one’s smartphone. The loan app has multiple handy features, which can help one find out everything they need to about car loans. Here are some of its features that can help one check car loan requirements-

1. Allows to check car loan eligibility

As mentioned before, the eligibility criteria for car loans can vary to a great extent. The loan app features details of the eligibility criteria such as the age permissible, the salary one should have, the maximum amount that can be borrowed, the duration for which it can be borrowed, the documents required and much more. This can help individuals know exactly what they need to do in order to apply for a car loan.

2. Offers the facility of car loan calculator

One of the other requirements a person needs to check before applying are car loan interest rates. Loan apps feature the lowdown on this too, and in fact also features the car loan EMI calculator, which can calculate the amount one needs to pay monthly in order to finish the repayment process. Having this information beforehand, allows one can find out which loan plan suits him best and then manage his finances accordingly.

3. Simplifies the application process

Not only can one check their car loan requirements with this app, but one can also apply for the loan straight from their phone as long as they have all the information needed. This way, one can get almost instant approval for their loan.

So if one doesn’t want to go through the hassle of physically visiting banks to check car loan requirements as well as apply for one, downloading this app on one’s smartphone is the most logical thing to do.

Calculate your home loan in mere seconds with the loan app

Planning to take a home loan? When taking a loan of this kind, there are many things one has to consider. These include – the location of the property where one intends to build a home, the size of that property, the price of it, one’s own income and capability to repay the loan, the duration of the loan and so and so forth. Of these factors, one of the most crucial things one needs to take into consideration is the loan amount and how this amount will affect one’s budget.

But to know how the loan amount will affect your budget, you have to go through a series of complex calculations as well as multiple visits to the banks, which can be quite taxing to say to say the least.
However there’s an easier way to calculate your home loan interest rates, know your home loan eligibility and much more. Use the loan app to find out such information.

How will a loan app help you with information?

In today’s world of technology, a home loan app is a smart app, which can help one calculate their home loan in matter of a few seconds. With this app on your smartphone, you do not have to go to the bank or try to calculate everything on your own with no correct results. The loan app comes with a built-in home loan calculator, which can give you the exact figure of your home loan along with its interest rates so you can plan your finances accordingly.

The home loan EMI calculator of the loan app can also help you figure out your monthly installment amount as well, which can be quite handy when you are planning your monthly budget.

The best part about downloading the loan app is that you can perform all of the above mentioned functions in just a few seconds. That’s all it takes. Once you fill in the relevant fields with the correct information, the app will perform the calculations for you and give you accurate results in only a couple of seconds. This makes it a very convenient, simple and fuss-free experience.

You can use the loan app to find out the best loans for you too as it offers a comparison of the best home loans with the lowest interest rates, which you can choose from without the need to perform a manual research of the market.

There are plenty of other benefits of a loan app too apart from speed and efficiency. To enjoy these benefits and make the process of taking a loan easier, try out the app.

Looking for a personal loan? Download the loan app now

Conventionally, to get a personal loan, one would put on their best clothes and head down to their local bank in order to apply for the loan. Fortunately, now a customer does not have to, as he can do the same at home as long as he has a working internet connection.

In fact, the entire process of taking personal loans has become much easier than before, thanks to the development of the mobile loan app. Once you download the app on your smartphone, you can get a personal loan without anybody finding out.

How the loan app can help you get a personal loan?
Say one wants an HDFC personal loan. Now instead of going to their nearest bank branch, they can simply download the loan app and get their loan from the comfort of their home. Here’s how this app helps customers-

1. Allows customers to browse through different plans
Before you plan to take a personal loan, it is best to browse through the different plans offered by the bank so you can figure out the personal interest loan rates that work best for you. With the help of the app, you can make an instant comparison and choose the perfect plan.

2. Helps customers calculate the EMI
Most loan apps come with a personal loan EMI calculator so you can calculate your monthly EMI amount, which can consequently help you manage your finances in a better manner. Once you know exactly how much you have to pay each month, you will be able to plan expenses much more efficiently.

3. Offer instant loans in emergencies
One of the biggest benefits one can get when they apply for personal loan via the app is that they can get a loan instantly. This makes it the perfect option in case of emergencies as one does not have to go through the lengthy process of loan application in a bank and waste their precious time. With the app, one can get their loan amount in as less as an hour since the time of application.

4. Low interest rates
Not only are the personal loan eligibility rules slightly more relaxed on the app but even the interest rates are comparatively lower than offline loans. The app will specify the exact and fixed interest rate which you have to pay so you know from beforehand what you’re getting into.

A customer also enjoys round the clock support when he applies for a loan via the app. It is quite time-saving, hassle-free and convenient as well; so one should consider it as a viable option.

Calculate your loan eligibility through your smartphone!

Technology and the internet has made life much more convenient and easy. These days, work schedules have become quite hectic and managing work as well as personal life has become a challenging task. On top of that it is essential that one also maintains their finances, handling bank accounts and loans effectively.

Maintaining one’s finances has become extremely easy with the introduction of smartphones apps. Banks in an effort to make banking easy and more convenient for customers have designed their own smartphone bank apps, which offer assistance when it comes to opening accounts, applying for various loans, calculating the EMI as well as repaying the loan. Any type of information related to banking and loans is available on bank apps that one can download on their phone.

In fact, a customer seeking a particular loan can also calculate his loan eligibility through the bank loan app. Different banks have different criteria for loan eligibility, for instance the HDFC loan eligibility criteria will be slightly different than the State Bank of India loan eligibility criteria. Thus, a customer who wants to get approval for a loan should find out all the relevant information about loan eligibility, before sending in his application for the loan.

How can a customer check if he is eligible for a loan?

A customer can check loan eligibility online, or just download the particular bank application from the app store. One can get all essential information about loan eligibility on their smartphone at any given time during the day! Juts sign in the app and search for the loan eligibility requirements.

Such apps also feature the loan eligibility calculator, which allows the customer to calculate whether he is eligible for a particular type of loan or not. The customer just has to feed in the required data into the loan eligibility calculator and it will make the necessary calculations.

The loan eligibility calculator makes complicated calculations much easier and faster.

The bank loan app will definitely help one calculate his loan eligibility accurately. On the basis of the results one can either instantly apply for the loan they are looking for, or work upon their credit score and history to improve their loan eligibility.

Checking one’s loan eligibility before applying for a loan, is the sensible option because its saves a potential borrower from loan rejection. Once a loan application gets rejected, it gets recorded in the credit history which may make it even more difficult to get approval for any future loans.

Do not hesitate to check loan eligibility before applying for a loan!