A recent report indicates that despite a weak economy, personal loans have shown a substantial growth rate compared to other forms of credit, as of January 2020. Such loans are always helpful to individuals as they offer financial assistance for any urgent monetary requirement. Personal loans not only have a fast disbursal rate but also their lack of end-use restriction adds to the convenience of borrowers. Moreover, if you opt for pre-approved personal loans from lenders like Bajaj Finserv, you can avail instant approval along with added benefits. What are the benefits of a pre-approved personal loan? Reputed financial institutions in India provide pre-approved loan offers to their existing customers, which simplifies the loan application process substantially. These offers usually come with the below-mentioned features and benefits – 1. Customised loan availability If you know what is pre-approved personal loans then borrowers can move forward to avail customised funds. Such advances are tailored to suit your financial profile. 2. Reduced hassle As an existing customer of a financial institution providing such an offer, you can avail pre-approved loans upon meeting simple and minimum eligibility terms. Your loan application does not undergo further scrutiny as your personal, financial and employment details are already accessible and verified with the lender. It makes the overall loan application process easier. Also, when availing personal loans through a pre-approved offer, you are not required to go through any documentation procedure. 3. Fast disbursal Reduced eligibility, verification and paperwork requirements means borrowers can receive the loan amount disbursed to their account within 24 hours of approval. Lenders providing pre-approved offers make them available to their existing customers on personal loans as well as numerous other financial products. You can check your pre-approved offer by only providing personal details such as name and phone number. Additional Read: Know How You Can Avail Per-Approved Personal Loan
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |