How to manage your small and big expenses with a personal loan
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How to manage your small and big expenses with a personal loan

September 21, 2021

Personal loans are the ideal solution to manage your big and small expenses — be it medical emergencies, home renovation, or anything else that needs immediate financing. Most lenders now have digital provisions and allow you to avail of an instant loan completely online. You can apply, get approval, and have the sanction disbursed online conveniently from the comfort of your home. 

Some lenders even extend a pre-approved offer to expedite loan processing and simplify the borrowing experience. As such, a personal loan is an ideal instrument, especially during the festive season, a time of the year that’s full of celebrations, events, and shopping. To know more about how personal loans can effectively manage expenses, small and big, read on.

Access ample funding and do so easily with a pre-approved offer

Today, getting a tailored personal loan deal is just one click away. You can browse these offerings online from different lenders and opt for an instant loan that best suits your needs. In most cases, you get a maximum loan amount up to Rs.25 lakh, depending on your profile. This quantum of funding is perfect for the festive season as it comfortably meets most needs, and you don’t have to compromise due to a lack of funds. 

The process is also quite simple and easy since it is entirely online. Depending on the lender, you may need to fill a quick application form, verify your identity, and avail of the pre-approved offer. It’s that simple and can be done from anywhere, in just a few minutes. 

Fund any expense without restriction

Managing big-ticket expenses can be tedious without a proper financial plan. With a personal loan, this is something you don’t have to worry about, as the sanction can be used freely to meet any financial obligation. For instance, you can use it to fund short-term business-related expenses or your child’s tuition fees for overseas education and do so efficiently. Similarly, you can use the sanction to fund overseas travel or buy expensive home improvement appliances. 

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Get an instant loan to address cash crunches as they crop up

Emergencies are among the costlier expenses you’ll incur in life, and you may not always have enough funds to handle them. Thankfully, a personal loan can serve as an emergency loan when you borrow from the right lender. Look for an instrument with features like online loan application, instant approval and disbursal, and access to an online pre-approved offer. These features help take care of your unplanned expenditures with ease and without any delays or additional effort.

Pay for expenses comfortably and as per your capability

Whether you opt for a personal or an instant loan, you don’t have to stress about repaying your dues. So long as you borrow only as much as you need, you can always select a suitable tenor with an affordable EMI. As such, all expenses, big or small, will not put unnecessary pressure on your savings. These loans are a great financing tool for renovating your home or hosting a wedding. You don’t have to bear the brunt of a hefty down payment but instead only need to make monthly, pocket-friendly payments. 

Repay debt at cost-effective and affordable rates

Even as an unsecured instrument, lenders often offer an affordable interest rate on personal loans. In fact, during the festive season, such promotional rates are common, and you can use them to your advantage. A particularly smart way to leverage such deals is to use them for debt consolidation purposes. This helps you manage and clear existing debt quickly, and you now only have to make one cost-effective payment every month.  

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Based on these pointers, it is clear that a personal loan can quickly help you manage small, big, planned, or unplanned expenses. However, to enjoy all these benefits, you need to pick the right lender. Look for one with relevant terms and features that complement your experience.Considering these criteria, an excellent option to consider is the Bajaj Finserv Personal Loan. It offers instant loan benefits, and you can get funds up to Rs.25 lakh within 24 hours of application. You can opt for a flexible tenor ranging up to 60 months and benefit from a competitive interest rate too! To get started right away, check your pre-approved offer for hassle-free and expedited loan processing.

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