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5 Situations Where Personal Loan Could Be Your Saviour
Posted on Friday, April 15th, 2022 | By IndusInd Bank
If you are running low on funds, taking a personal loan can be a great way to finance your urgent expenditures. These days, personal loans are disbursed instantly and do not require any collateral either. Moreover, you can apply for a personal loan online at most Indian banks such as IndusInd Bank and enjoy paperless banking at its best. The application process is 100% online making it a convenient option. Are you still wondering if it’s a good idea to take a personal loan? Here are five situations where a personal loan can prove to be the best tool for meeting your financial obligations.
Medical Emergency
Medical emergencies are situations every family’s breadwinner dreads of and the worst thing is that you cannot plan for these situations. That’s because critical illnesses might demand more than health insurance.
Getting an instant personal loan in such a situation can be of great help. You can use your loan amount towards expenses related to treatment, diagnosis, rehabilitation, hospital accommodation, and more. IndusInd Bank offers instant personal loans online with minimum hassle.
Wedding Expenses
In India, weddings are usually a massive celebration because they are not just about the ceremonies, but catering to your loved ones in the best possible way. A wedding party can easily dig a hole through your pocket from planning to execution.
Applying for a personal loan to manage the wedding expenses can help you sail through it like a king. Why not let the loan money take care of the expenses while you enjoy the grand celebration with your family?
Debt Consolidation
Do you have an education loan that you need to repay? Or are you yet to pay off your car loan? If yes, paying for multiple loans at varying interest rates can wreak havoc on your monthly budget. And if you are using credit cards to get by every month, you must think twice. Credit card interests can impact your finances in the long run.
The best way to pay off all your outstanding debts is to avail of an instant personal loan online. This way, you can save more on interest outflow and maintain your credit history as well.
Home Renovation
Is your home begging for some much-needed repair and renovation? Why not hop on to an instant personal loan app and borrow some money that can cover the cost of your home improvement projects? You can use your personal loan amount for remodelling your small or mid-size home. As personal loans have low interest rates, you don’t need to think twice before you opt for a loan.
Higher Education
Are you having trouble securing an educational loan for your higher studies? Don’t worry! You can take a personal loan and make your dreams come true. A personal loan not only helps you fund your tuition but also covers other miscellaneous expenditures such as relocation costs and boarding charges.
So whether you are planning to enrol in a master’s program or take up an advanced skill certification course, a personal loan is sure to help you.
Final Word
It’s a widespread myth that personal loans can only be used for medical emergencies or grave situations. You can take a personal loan for financing any needs and wants when you don’t have enough cash on hand. If you are wondering which bank to choose to apply for a personal loan, check out IndusInd Bank. The application process is 100% online and paperless. If you meet the eligibility criteria and have the necessary documents, you will get the personal loan instantly.
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
