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How Can Your Loan Application Process Be Made Easy?
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Gone are those days when one had to make multiple visits to the bank to open an account or apply for a particular loan. With the introduction of smart phones, online banking has been completely revolutionized! Banks have now come up with self-assist apps which allow customers to open accounts, make transactions, pay bills and also apply for bank loans.
Taking a loan from bank is a grueling process which involves quite a bit of documentation and paperwork. But, with the introduction of various loan apps, applying for and processing a bank loan has become much easier.
Here are some features of loan apps that make availing bank loans hassle free and time saving-
• Avail any loan with just a tap-
Once the app is downloaded and you are registered, you can search for any fresh loans offered by the bank, be it a car loan, home loan, personal loan, two wheeler loan, availability of credit cards, business loan, loan for gold etc.
A customer can avail all the relevant details of any kind of loan on the app, without personally paying a visit to the bank. Thus, one knows all the information required to send in a loan application to the bank.
• Plan a budget using the EMI calculator available on the app-
Bank loans need to be planned. A borrower should calculate the overall price of the loan and make a comparison of the different rate of interests offered by various banks and financial institutions.
In order to make such calculations, one can take the help of the EMI calculator available on loan apps. The calculator is highly accurate and makes budgeting simple and easy.
• Apply for the loan through the app-
The app features the bank loan application form for each and every loan that is offered. A customer looking for a particular type of loan just needs to fill in the required details and press ‘submit’. A bank official will get in touch soon to discuss further details of the loan and its terms and agreements.
• Listen to podcasts about loans-
In order to get the latest information about new loans and investments, a customer can listen to various podcasts on the app. These podcasts are highly informational and provide knowledge about the current market interest rates and deals.
In this time and date a number of loan options are available, and getting a loan from bank is easy.
While, the processing and paperwork is a bit time consuming, banks are making a great effort in simplifying this step as well. They are designing and introducing helpful loan assist apps that are both informational and user friendly.
Author Bio:- Neha Sharma is an aspiring student in the field of finance. She also spends her free time reviewing the latest apps introduced into the market. Check out her work as she talks about how bank loans application process can be made easy.
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