Use Home Loan App To Get An Instant Loan Approval

Home Loan App

Introduction of PMAY and other government initiatives has already led to a rise in the number of Indians opting to purchase their first house. These initiatives have offered applicants with easy loan options to easily purchase their residential properties along with several tax deduction options. While the growth in housing credit applications was estimated at 14.9% in April 2018, it rose to an impressive 18.6% in April 2019. Home Loan App.

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Consequently, with integration of technology it has become more convenient for such prospective applicants to actually check, compare and ultimately apply for these loan products.

What is a home loan app?

Financial institutions have introduced apps which allow customers to access their user accounts as well as check all offers which are applicable for them. A home loan app allows its user to access all features related to their line of credit/s with a specific financial institution. Worth mentioning, this app can be used not just for every activity related to home loans but also to check all other products and pertinent features which are offered by a financial institution. Apps like Bajaj Finserv App – Experia and others even allow its users to complete all repayments, be it EMI or bill statements.

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How to use a loan app for instant home loan?

Using these apps is fairly easy. Once downloaded, customers should create their profile on the app. Existing customers can simply use their personal details to create their profile on an instant loan app. The method to login can be as simple as using the Facebook account or a customer’s phone number to gain access to their user account which is linked to all existing credit accounts. A customer can apply or repay existing lines of credits here. Customers applying for a home loan should keep in mind to complete the following beforehand.

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• Check all eligibility and document requirements.
• Calculate payable EMI using an online loan calculator.
• Compare and decide on the exact loan offer.

Typically applying for a loan is quite easy with NBFCs attempting to maximise customer convenience. Under normal circumstances, these financial institutions and NBFCs offer numerous facilities which make the post application process extremely prompt.

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After filling in the application form for an easy loan, customers are required to upload all pertinent documents. Once this simple procedure is completed, financial institutions usually complete approval within 24 hours or more, depending on the type of loan and its amount.

Additional benefits also offered by home loan apps

Further benefits which are offered on such a home loan app along with instant application are the following –

• Management of all active or past line of credit/s.
• Access details and statements of closed credit accounts.
• Paying EMIs and credit card statements along with prepayment and foreclosure facilities.
• Keeps customers updated with notifications regarding existing and upcoming offers.
• Allows up to 6 family members to access an active account from this app once the family sharing feature is activated.
• Instant help via chat box

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Any customer who is aware of how to use a loan app can easily download the same to avail all the mentioned features. With ease in use as well as in application, customers can easily avail their required loan product using these apps. It is important customers put in adequate time to research different loan products which are offered by the numerous NBFCs, before they choose their home loan.

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Additionally, Bajaj Finserv brings exclusive pre-approved offers for existing customers that make availing loans fast and easy. Pre-approved offers are applicable on several products like home loans, business loans, personal loans, etc. You can check your pre-approved offer by providing your name and phone number.

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Conclusion

While the application and approval can be completed swiftly, finding the most suitable credit terms can take time. Nevertheless, it is essential to look for all the necessary features which are imperative for a customer to not just buy their house but further to clear the debts over time. Even this research between different products can be easily done using a home loan app offered by most leading financial institutions.

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