When and Why to Opt For Personal Loan?

When and Why to Opt For Personal Loan?

A personal loan is an alternate route you can take solve any financial crisis ahead you. Growing expenses of a marriage, improving on your home, going for higher studies, traveling for a vacation, medical emergency etc., the reasons are aplenty. What would you do when there is a need for immediate funds? The simple solution is to opt for a personal loan.

When should you avail a Personal Loan?

The need for a personal loan can arise at any time. Here we bring forth a few scenarios when you can avail a personal loan.

1. Debt Consolidation

Debt consolidation is when you pay off multiple debts through one channel. You can avail a personal loan if there are a lot of loans to pay with different interest rates. These different payments are consolidated into one monthly payment and hence reduce the stress for yor debt.

2. Home Renovation

If you want to give your home a swanky makeover and if it does not fit your budget, you can avail a personal loan.

3. Making a big purchase

Whether it’s buying a home, a car or a two wheeler, making a big purchase involves a lot of financial planning. When you take a personal loan you can easily manage your finances.

4. Going on a much-awaited vacation

You have always dreamt of visiting your dream destination with your friends or family. Typically you would save for years to make that one big trip. A personal loan can help you to take the trip whenever you want.

5. A Medical Emergency

A medical emergency is something which needs immediate funds. These days technology has made the personal loan process simple and fast so you can get the funds in no time.

6. Getting Hitched

A wedding is an extravagant affair and one of the most important moments in life. It involves a lot of budgeting and yet there might be some extra expenses to incur. A personal loan can help you organize your wedding to perfection.

7. Aiming for Higher Studies

Education is not free. More so, higher studies or career advancements courses have high fees. A personal loan can help you to account for the fees.

Why Should You Avail a Personal Loan?

Situations might arise when you need to take a personal. But why should you choose one personal loan over any other type of loan?

Here’s why.

  • Availing a personal loan is convenient. Technology has digitalised everything and all you need to do is log in the the Indiabulls Dhani website or download our personal loan app. Indiabulls Dhani has developed a personal loan platform which helps you avail a loan in minutes with simple documentation.
  • A personal loan is an unsecured loan. It means there is no need to keep anything as a collateral or security.
  • You do not need to specify your reason to avail a personal loan.
  • You can avail it for a flexible tenure. Indiabulls Dhani provides a personal loan for a tenure of 3 months to 24 months.
  • The personal loan interest rates are also tentatively lower than other types of loans. Indiabulls Dhani offers you an interest starting at 11.99%.
  • There are many offers and schemes for personal loans during festivals.
  • You get a good variation in the loan amount range. Indiabulls Dhani provides you with a personal loan from Rs 1000 to Rs 15 lakhs. This wide range helps you avail the loan as per your requirement.

When there is a need for excessive expenses, a personal loan can help you to manage your priorities and be tension free. It is wise to do a detailed research and then take a final decision.

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