A Personal loan is a life saviour when it comes to helping us overcome financial challenges. Before financial institutions came into the mainstream, people depended upon friends and family for any financial assistance. However, any delay in repayments caused severe strain on relationships. The other option was to seek money from the local moneylenders, who charged an enormous interest on the loan amount. The local moneylenders were also known for causing severe harassment to the loan seekers.
The financial institutions made seeking money via a personal loan more comfortable. Borrowers could have a predictable arrangement where they know the amount of money to repay every month.
Modern technology platforms like LoansJagat made it easier by offering instant personal loans that widened the usage of personal loans. Now one may use a personal loan for emergencies in a matter of hours and days. The traditional lenders took weeks and months a few years ago to process personal loans.
Here are the top five emergencies a personal loan can help us tide over:
1. Medical Emergency
a. Every family is not covered under health insurance as people realise the importance of health insurance at the time of adversity only. Even for those covered under health insurance, an insurance policy does not necessarily cover every claim made. Treatment of parents and several medical procedures like mental illness, eye treatment and OPD procedures are often out of the ambit of health insurance.
b. During such situations, one needs immediate access to funds. A personal loan helps to get access to instant money for the treatment of self or family. LoansJagat enables instant personal loans at attractive personal loan interest rates where applicants can compare and choose the best personal loan to suit their requirements.
2. Home Repair
Certain expenses like home repair just can’t be delayed. A home provides safety and belongingness. A leaking roof or unsafe wiring needs immediate funds irrespective of the current financial situation. An instant personal loan helps us get the money to get these repairs done without seeking help from friends and family.
However, it’s essential to choose the best personal loan for your requirements. LoansJagat helps applicants with an online application, offers from top banks and NBFCs with the best personal loan interest rates.
3. Debt Consolidation
Going astray on the financial path is easier than ever. Easy access to credit cards and instant personal loans tempts us to make exorbitant expenses. When one realises the mess, it’s often too late. Repayment becomes a challenge as financial stability seems a distant dream.
Debt consolidation helps individuals combine multiple loans like credit cards and personal loans into one personal loan with a manageable repayment schedule and personal loan interest rate. LoansJagat helps applicants get access to the best instant personal loan for debt consolidation. Apply online and get the best loan offers from over 40 leading Banks and NBFCs for debt consolidation.
4. Higher Education
An education loan does not cover every aspect of higher education. Most education loans do not cover the cost of online education. The cost of living, travelling, several other expenses related to living in an unknown place are beyond an education loan.
A personal loan helps individuals to fulfil the need for higher education for themselves or family. One can apply for a personal loan on LoansJagat and get access to an instant personal loan as quickly as 24 hours, depending upon the credit profile.
5. Starting a Business
Starting a business is one dream that remains a dream for many as they do not ever get access to the funds needed to start a business. A personal loan can help everyone to give a base to fulfil their dreams.
Financial institutions and investors are hesitant to fund someone with no prior experience of running a business. A personal loan gives the starting input needed to create a base. LoansJagat helps applicants get the best personal loan using its proprietary technology to compare and choose the best loan. LoansJagat also assigns a dedicated relationship manager to guide applicants during the entire process from application to loan sanction and disbursal.
A personal loan helps individuals manage emergencies that need access to instant funds. Visit www.LoansJagat.com to access the best loan offers, tools and resources like a personal loan EMI calculator. LoansJagat is India’s leading platform for loan products like personal loans. Apply now to experience the power of speed and technology with LoansJagat.