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What is Quick Loan?

When it comes to personal loans, a quick loan or an easy loan is the kind which gets approved and disbursed in a much lesser time compared to the other loan products. Such reduced processing time can be mainly attributed to the modern day technologies. In majority of such quick personal loans, the entire application process gets completed within a few minutes, and requires nothing more than tapping a few buttons one’s smart phone or laptop.

A quick personal loan is characterized by its hassle free disbursal, completed within a time frame ranging from a few minutes to few hours. The offered loan amount is normally between ₹ 5000 to ₹ 5 lakh, sometimes even higher depending upon the lender and the eligibility of the applicant. Such unsecured personal loans are extended by conventional banking establishments, credit card companies, NBFCs and online lenders in India.

How Quick Loans are Changing the Lending Industry

The ease with which quick personal loans can be availed in India today has completely changed the face of the country’s financial industry. In fact, the lending landscape of India is witnessing a rapid change courtesy these hassle-free loans. Below are some of the ways in which these easy loans are making it all happen:

Easy application – What really sets the quick personal loans apart is the fact that they can be applied for and disbursed fairly quickly. You can apply for them in a matter of few minutes, with the help of GoSahi platform or the mobile app / website of the lender. There won’t be any lengthy application forms or endless backing documents involved. All you’ll be asked for are some basic details and scanned copies of supporting documents.

Quick approvals and disbursals – Soon after you provide the details asked for above, the lender will assess your creditworthiness, utilizing the latest technologies like artificial intelligence (AI) and more. Thereafter, an offer will be extended to you almost instantly. Should you choose to accept it, the money will show up in your bank account within a few hours!

Process automation – No one needs to run from pillar to post, to submit their documents as the entire process is automated. The absence of human element also ensures that no one is treated unjustifiably.

Transparency – The use of artificial intelligence and other automation technologies in processing of quick personal loans also makes them more transparent compared to other products. The loan offers are extended purely on the borrower’s merit, and a standard procedure is followed from the beginning till the end. Anyone ineligible for the loan is informed at the outset, along with the reasons of ineligibility.

Live tracking – Quick loans have been a standout amongst all personal loans also because of the live tracking feature they often come with. This feature allows the borrower to keep a constant track of his/her loan application, using their laptop or smartphone. Not just that, the person is also sent regular updates regarding the application status.

Few other important ways in which quick personal loans are rapidly making big waves in the Indian lending marketplace are their flexible repayment options, 24/7 customer support and highly competitive interest rates.

Where to Find Quick / Easy Loans

Anyone keen on availing quick personal loans in India should check out the offers provided through GoSahi website. It’s a platform where you can compare loan offers from various reputed lenders, and pick the best one depending upon your needs. You are asked for nothing more than some basic details for fetching all such offers.