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10 Factors of Instant Personal Loan Application

Updated: Jun 19

Quick personal loan app

Get ready to avail your instant personal loan with Lenditt

Get ready to avail your personal loan with Lenditt

Fill your instant personal loan application when you are in need. There are many occasions when you have to apply for instant personal loans that include medical emergencies, marriage expenses, and a child’s higher education.

Although personal loans are provided on tenures ranging between one to five years. With a shorter tenure, it is better for you to pay less interest, the EMI will be relatively higher. So, decide the tenure as per your repayment capacity and convenience.

Lenditt is one of the digital lending platforms that will offer customers with instant personal loan applications a loan for people who would be required to meet their needs. The best instant personal loan app that can start providing loans in minutes to young professionals without using paperwork. Some of the important aspects of applying for an instant personal loan are mentioned below.

Key points for instant personal loan application

Good credit history score

For calculating a credit score firstly your history of credit repayment. The score should be between 300 to 900. If you have a score of 750 this is considered to be a perfect score for applying for any personal loan.

Your application can get rejected with a low credit score or even pay a higher interest rate on your loan. For a good credit score, you can start using your old credit cards with a good credit history and start paying on time.

Comparing the interest rates

You need to start comparing the interest rates of various lenders to get the lowest rate and also compare the rates offered by different financial institutions on platforms such as Paisabazaar, BankBazaar, and Myloancare. All of this will help you in taking the right decision in selecting a personal loan at the lowest interest rate and opt for the type of interest that suits you best for repayment of EMI.

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