Acquiring a personal loan online gives a sense of independence and retains the borrower’s dignity. It is a transparent process of loan acquisition that is less time-consuming as compared to a traditional loan process. Simply Cash is a similar new-age instant personal loan app apt for availing short-term loans ranging from Rs. 50,000 to Rs. 1.5 lakh. Short-term loans are taken for a limited tenure of 1-3 years, and the loan amount taken is also not more than a couple of lakhs.
Simply Cash instant loan app is built with intelligent technology to help borrowers with a quick registration, EMI calculation, paperless documentation, real-time verification, approval, and disbursal in 24 hours. Download Simply Cashavailable freely on Google Play Store.
Short-term loans from Simply Cash can be used for varied purposes such as education, travel, home renovation, debt consolidation, vehicle purchase, or arranging immediate cash for a medical emergency. The Simply Cash advantage lies in its low rate of interest that starts with 1.67% per month and is affordable to pay on monthly installments. It is a reliable digital platform launched by HeroFinCorp, one of the fastest-growing financial service companies in India.
**Advantages of Simply Cash Short Term Loan **
**Simply Cash Short Term Loan Eligibility Criteria **
Whether you apply for a personal loan of 50,000 or 1 lakh, borrowers should check the eligibility criteria before applying for short-term loans. It is to ensure there are no cases of fraud:
● Age criteria: Applicant should be between 21-58 years.
● Minimum monthly income for salaried: Applicant should at least earn a minimum amount of Rs. 15,000 monthly.
● Minimum monthly income for self-employed: Minimum earning should be Rs. 15,000 monthly and six months bank statement is compulsory.
Mandatory Documents for Short Term Loan
Submission of mandatory documents for an instant short-term loan up to 1.5 lakh requires:
● Aadhaar card is the first document when applying for a short-term loan.
● In the absence of an Aadhar card, you can provide your Pan card/ smart card driving license.
● Other important documents include your professional and financial details inclusive of salary slips and income statements.
● Your account should be in any of the accepted banks as suggested by the financial institution.
How to Apply for a Short Term Loan?
Simply Cash personal loan app is loaded with multiple features for an instant loan on a short-term basis. The process of loan application involves few easy steps:
