Companies are equally focusing on online marketplaces and offline retail
owing to the former’s high demand. Consumers are now ordering their grocery,
medicine, etc. online rather than visiting a brick and mortar store.
The same is happening with financial services; borrowers are now
applying for loans via apps owing to its benefits. These loan apps have made the
loan application process smooth and less time-consuming. Additionally,
consumers can also pay EMI online via these
apps.
Apart from paying their EMIs, borrowers can use such apps for various
other services as well. Some of the notable are –
- Manage account: With the help of these apps, borrowers can manage their loan account. They can check the status of their credit, view the EMIs paid till date, download statement etc.
- Check eligibility criteria: An individual can only avail a loan when he/she fulfils the eligibility criteria set by the lender. Reputed financial institutions like have made every information regarding the same available their app.
- Foreclosure and part pre-payment: Borrowers can use these apps to foreclose or part pre-pay their remaining credit amount. They can do so via various online payment methods like net banking, mobile wallets, debit/credit cards, etc.
- Pre-approved offers: Customers can use these loan apps to check if they are eligible for pre-approved offers or not.
- Avail other services: Apart from EMI payment options, these apps provide several other services. For instance, the Bajaj Finserv app – Experia has the whole range of services offered by the respective company.
Therefore, these apps are not just handy to pay your EMI quickly,
these have a host of other features and benefits on offer.
Must Read:- Top Four Loans App in India to Get Instant Loan Approvals
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