We have all seen super hero movies. From Superman to Spiderman people across the globe love such movies. Even in India the superhero movies have been directed and have made it to box office. Not only the movie tickets, the production houses also create a whole lot of commercially motivated marketing web around these hero with accessories and costumes also getting sold. People not only buy the tickets but also buy these expensive merchandise.
People love super heros despite knowing that these are not real. But there is definitely one such super hero who can came as your savior at the time when you are financially down. Whether financial depression is on account of overblown credit cards, medical or any other exigency, that requirement on business front or maybe marriage, personal loan can come to rescue as a super hero.
This super hero keeps your property intact
Unlike any other loan, you do not need to extend collateral to get the loan. This loan is given basis the personal profile and financials. So whatever collateral that you may have continues to be in your own name. The better part is that you do not even need to own something like a car, gold or property to be able to get your hand on that much needed fund through this form of loan
This is probably the most important thing that makes this loan a real super hero. Just like any imaginary hero who reaches at the spot where he is needed in no time, this loan also gets disbursed very fast. For example, you wish to apply for HDFC personal loan, all that you need to do is visit the HDFC website and fill in a few details. Within minutes you would be aware of the fate of the application. On getting approval, just furnish a few basic documents and the money gets transferred into your account.
It is really that simple. Getting funds within hours of applying for the loan is incredible and makes the loan so sought after.
Borrower is the master
This is another super hero trait. It does not stick with you forever. Just like one of those movie characters, it leaves as soon as the work is done for you to take decisions from there on. Once the money is credited to your account, the same can be used for any purpose and the lender does not restrict the use of money to any particular activity. The flexibility to use the proceeds of the loan is a a great advantage to the borrower. Today people are picking up this loan for varied purposes. Even to fund that dream holiday that they has been on mind for some time.
Documentation is negligible
Unlike any other loan that has to go through extensive documentation, the personal loan does not require extensive documentation. What is actually required is the KYC (know your customer)) documents and the income documents (pay slip, income tax return, bank statement) and you are done with the document requirement.
As a super hero would do, this loan does not discriminate between two people. There are loans to fit for borrowers for varied background. So if there are loans for those who have excellent credit profile, there even is that loan for low CIBIL score. While it may come at a different price, the fact is that there are products available for people with not so good credit profile.
So next time you think of funds, you can evaluate the performance of this credit super hero yourself.
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