How to Manage the EMIs of Multiple Personal Loans in India?
Rahul Khanna
If you take multiple loans, you need to manage the EMIs of all the loans. The debts can keep accumulating if you're unable to pay the EMIs regularly. So what should you do to help the situation? Since this is an urgent cash requirement, a good idea is to apply for a quick loan online from a fintech company. Once the loan is approved, you can get instant cash to fund the unpaid EMIs.
How Can a Quick Loan Help Manage the Unpaid EMIs of Your Existing Loans?
It can be challenging to get a new loan from a financial institution or a bank since you already have unpaid loans. That's because your credit score might not be good enough at that point. So you can instead choose a top fintech company that assesses a borrower's creditworthiness using an advanced credit rating system called the Social Loan Quotient (SLQ).
The SLQ score is calculated using artificial intelligence, smart data analytics and machine learning and based on modern factors like the borrower's social media footprint and smartphone metadata along with the credit score. The other simple factors include KYC compliance, educational qualifications, career experience and monthly salary. Therefore, you can easily get a quick loan online from a fintech company.
You can get a loan of up to ₹4,00,000. The amount can be large enough to finance the payment of all the pending EMIs. These loans come without any end-use limit, so you can easily use the loan. Based on the chosen loan amount and your salary eligibility, you can pick from flexible tenures, such as 90, 180, 270, 365 and 540 days.
The entire application process of a quick loan happens online, including the documentation. So, you can apply just within a few minutes. Once the loan is approved, the amount is quickly disbursed to your bank account. You can start using the funds immediately without allowing the debt burden to increase further.
How to Apply for a Quick Loan Online?
Simply download the loan app of the chosen fintech company on your smartphone from Google Play Store or App Store. Choose the product, personal loan and create your profile online. Enter the required details and upload the essential documents. Then select a suitable loan amount and tenure as per your monthly salary. The minimum salary eligibility is ₹15,000 only, Wondering, "How to check my loan status?" You can check that in the same loan app. Once your loan is approved, the funds will be disbursed within a few minutes.
Conclusion
There's no need to submit collateral to apply for a quick loan online. So, enjoy an easy application and use the loan to pay off all the accumulated EMIs hassle-free.