6 Reasons to Apply for a Personal Loan
It is human nature to save for a rainy day. Most people opt to save a part of their income and put it away as investment, so they can use it in a time of need or crisis. However, there may come a time when they are unable to use that investment or simply do not want to use the money from their savings. At times like these, loans can help. A cash crunch to fund an immediate need can also be one factor that can count as a personal loan reason.
Borrowed funds can help in times of financial crisis. You can avail a secured loan to buy a new house or car. However, certain other expenses are not covered by secured loans. Instead, you can avail of a personal loan as they do not require any collateral or security.
So essentially, when can you avail a personal loan? There are multiple reasons to get a personal loan:
- Financing a Vehicle: A good reason to get a personal loan is to get vehicle financing. Though you can avail a secured loan to buy a vehicle, you will have to pledge the vehicle against the loan amount. However, when it comes to vehicle personal loans, there is no reason for you to keep the vehicle as collateral. You can apply for a personal loan for the vehicle and receive the funds quickly
- Home Renovation and Repairs: Home renovation can be an expensive affair. Most contractors tend to provide a quotation for the work that is to be done. This does not always mean that the entire home renovation will be done in the provided quote. Therefore, instead of withdrawing funds from your savings, availing a personal loan for home renovation can be a good idea. With the funds from a personal loan for home renovation, you can remodel your kitchen, fix any wear and tear, or build additional space for you and your family.
- Medical Emergency Loan: A medical emergency can strike anyone without warning. Medical costs are rising and not all the charges are covered by insurance. A personal loan for a medical emergency can help in overcoming those medical costs. You can avail a personal loan for medical expenses at any given point. The funds can be used to buy medicines, cover hospitalisation costs, pay doctors’ fees, etc. A medical emergency loan can be availed online through Finnable. We provide personal loans at interest rates that are affordable. All you will need to do is enter your personal and professional information, and upload the required documents. You will then receive the funds within 6 hours of verification.
- Holidays and Vacations: Planning a special holiday takes time and money. A holiday is not just about the location, however. It is also about the experience. You would want to stay in a good hotel, enjoy the best food, and travel in comfort. Meeting the expenses of your travel and vacation can be a good reason for a personal loan. So be it for your solo trip or an international vacation for your family, you can avail a personal loan for travel to meet the expenses. With the funds from the personal loan for a vacation, you can purchase your tickets, cover your visa costs, buy insurance, reserve a good hotel to stay in, book travel tickets, and enjoy your vacation without having to worry about the funds.
- Wedding Costs: Weddings are expensive. With a personal loan for a wedding, you can cover all the expenses that will arise while planning one. You can avail a loan for a wedding before the wedding date and use the funds to book a venue, pay for the decorations and hire caterers as well. That’s not all. With a personal loan for marriage, you can also pay for your honeymoon. You can easily apply for a loan for your wedding with attractive personal loan interest rates.
- Funding for Higher Education: With a personal loan for education, you can choose to study any course of your choice. A degree in the right educational field is known to open doors. And to do so, you will need money. You can avail a personal loan for education and choose any degree you wish to pursue. You can apply for a quick and easy personal loan online with minimal documentation through Finnable.
Availing a personal loan is no longer difficult. You can avail a personal loan for various reasons. Through Finnable, you can apply for a wedding loan, a personal loan for travel, and a personal loan for home renovation, among many others. No matter the loan purpose or reason, we at Finnable will help you get the required funds.
Finnable’s process is quick and easy. With the help of simple documentation, your personal loan can be approved within 6 hours of verification. With flexible and attractive personal loan interest rates, applicants can choose the tenure and EMI option that best suits their needs.
