Need A Loan Fast? Apply Via A Pre-approved Offer

In the time of immense crisis or emergencies, like medical or any other situations, availing a speedy personal loan is advantageous. Few financial companies disburse the loan within 24 hours of application catering to their needs. By going through the plan or procedure attentively and precisely of Pre-approved loan offers, this is possible.

WHAT IS A PRE-APPROVED OFFER? 

A kind of personal loan that is given to existing customers of the banks based on their repayment history and the flow of money in the account is called a pre-approved loan offer. Banks offer Pre-approved personal loans to a fixed loan amount and tenure with minimal documents and nil Collateral or security.

Pre-approval is the pre-qualification for a personal loan or mortgage of a certain value range. In simple words, pre-approval loans mean “at a stage before approval”. Thus, the term “pre-approved” is often used by advertisers to induce consumers to apply for the advertiser’s offer.

A preliminary evaluation of a potential borrower by a lender to determine whether they can be given a pre-qualification offer is called pre-approval. Pre-approvals are generated through relationships with credit bureaus which facilitate pre-approval analysis through soft inquiries.

Nevertheless, these offers are available for a limited period, and customers need to act upon it in due time before it expires. New customers or existing customers who are deemed eligible and have been assessed for providing a fast personal loan, financial companies usually extend this offer to those customers. The process isn’t tiring and mundane, and the application can be approved quickly for a personal loan or any type of loans without the need of collateral.

BENEFITS OF PRE-APPROVED OFFER:

Speedy approval

The personal loan application is processed quickly for approval since financial companies extend the offer after assessing the eligibility and financial capability of a customer.

Quick disbursement of funds

Financial Institutions disburse the amount in the savings account of a suppliant within 24 hours with speedy processing.

A huge amount of loan

A huge amount of loan can be availed by the eligible customers by applying via approved offers and make use of the substantial fund according to their need. Rs 25 lakh or more than that of personal loan can be obtained by an eligible customer.

Flexibility of tenor

The customers are offered the flexibility to choose from a flexible range of tenor of up to 60 months (5 years), by the financial companies. The tenor can be opted by the customers according to their financial standing. It is to note that a reduction in the value of tenor will increase the EMIs.

Minimal documentation

The documentation needed to avail fast personal loan via pre-approved offers is minimal as they only need to provide KYC documents, salary slip, etc. Documents serve as a means to prove your eligibility, and since these terms are relaxed, you can expect the paperwork to be less too.

General ones like KYC documents and financial documents should suffice, and further, with the use of technology, your preferred lender may even allow you to upload soft copies.

Get a loan without any collateral

Under the general personal loan umbrella, pre-approved personal loans come and hence are collateral-free.

This makes for a struggle-free application and saves on time as you neither have to go through the process of identifying an asset like real estate or an investment that you can pledge, and lenders do not need to undertake any valuation process.

 Applying via a pre-approved offer usually makes sure that the loan is customized to your financial profile, you can look forward to obtaining a low-interest rate personal loan, with the finest possible deal that your profile can attract.

Methods of applying for a pre-approved personal loan

• To get a pre-approved offer, wait for your lender to send you one. 
• Your lender may deem you worthy of more credit and so, extend a pre-approved offer to you, on doing a routine check of your finances.
•  Head over to your preferred lender’s website and check your pre-approved loan offer, is another way.
•  Your lender will let you know if you are eligible based on your income, fixed obligations, and credit profile after sharing your personal details.
• Bajaj Finserv allows you to apply via a pre-approved offer and access quick loan financing.
•  You get access to collateral-free financing of up to Rs.25 lakh, for a tenor of up to 60 months and at a competitive interest rate, through this offer.
• Further, Bajaj Finserv allows you to make multiple withdrawals without additional applications through the loan feature and helps you compute the monthly cost of your borrowing with the easy-to-use personal loan calculator.
• You can have your online loan application approved in under 5 minutes, with Bajaj Finserv.
• Check your pre-approved offer now and obtain a quick personal loan on customized terms, to obtain this advantage.

A pre-approved Personal Loan is an instant loan facility for selected customers. This does not require any collateral or security. If a person has a good credit history, he/she becomes eligible for a pre-approved Personal Loan. This has a quick processing time and the loan gets disbursed in seconds. Thus, one should consider a pre-approved offer for a personal loan.