Best practises for using an instant loan app.

1. Best practises for using an instant loan app. Instant loan apps have all but revolutionized the way we borrow money! Gone are the days where we had to visit a branch, fill out an unending list of forms and submit a string of documents to get a loan. Now you can get the money you need without even breaking a sweat! Just reach for your smartphone, download an instant personal loan app and apply for the loan with your legs kicked- back on your couch! It’s simply amazing how technology is augmenting our lives, more specifically, the way we access finance solutions. However, these apps are still a fairly new concept for many borrowers. In fact, a large segment of individuals has either never used such apps or have only used them once or twice. This means that there will be thousands of new/fairly new borrowers who will use an instant loan in the near future! Keeping this in mind, the following article will highlight some of the best practises for using such apps to ensure that such individuals enjoy a smooth and efficient borrowing experience. 1. Compare features. When you finally decide to go in for the services of an instant loan app, remember to compare all your options thoroughly before finalizing on a lender. Evaluate things like the ratings of the app, the loan amounts on offer, the tenures, the eligibility criteria, turnaround time, etc. Choose the app that excels in all these aspects and best meets your needs. 2. Do not only look at interest rates.

2. It’s understandable if you want to keep costs to a minimum –you’re already in a financial fix, and higher interest can cause you more problems than solutions. However, this does not mean that you make low interest rates the focal point of your comparison processes. You need to first find quality apps (based on features mentioned in point 1) and then compare them by interest rates. This will ensure you get trust-worthy finance solutions at the best possible price! 3. Apply during working hours. If you want snappy turnaround times, you should apply during working hours! Sure, an instant loan app allows you to apply at any time of the day or night, but this does not guarantee quick turnaround times. To get the promised approval and sanction times, you need to apply for the loan between 8AM and 5PM, this will ensure your application is reviewed by the lenders and it is approved and sanctioned quickly. If you wait till after 5PM, then your application will be processes only the next day after working hours commence! 4. Keep an app ready on your phone. You might not require money now, but you may require it urgently in the future. Having the app on your phone will help you save time in comparing and applying in the future. Plus, since you are not in a hurry now, you can compare your options in a better manner and download an app that meets your needs perfectly! 5. Stick to one app. Lenders will invest more time looking into the financial profile of a new borrower. Therefore, if you keep changing apps, you will face longer turnaround times due to thorough inspection on the part of each lender. However, if you use one lender again and again, they know your financial profile and will skip on doing a detailed check. This will ensure you get the money you need quicker. Hope this has been helpful, good luck and all the best!