​Top Advantages of Having a Personal Loan App on Your Phone

​Top Advantages of Having a Personal Loan App on Your Phone

Nearly a few years back, placing an application for a personal loan was a highly cumbersome activity. Many found complying with the KYC (know your customer) burdensome and a complicated procedure that included a massive amount of documentation. Today, if you want to avail a personal loan, you can do so through the online route or loan apps like Kreditbee, Cashe, Paysense, etc.

Many lenders, banks, online lending podiums, and financial institutions have a good understanding of the role of technology in today’s daily life and to make your life simpler. Many financial institutions have developed personal loan mobile applications, which are available on the online platform and are downloadable on mobile devices. Installing a mobile application on your mobile for an instant financial loan is a wise move. If you are on the fence and thinking about whether to download the personal loan application, here are some crucial reasons mentioned why you must install the same today.

You Can Place The Application For A Personal Loan In The Case Of Exigency Cash Requirement – 

A personal loan application allows you to opt for instant loan proceeds in times of need. An app is something you can reach out any time. So, if you face a financial exigency, you know where you must go to. Yes, you read it right. You just require going deep into your pocket, digit out your mobile and apply for an instant loan using the mobile application. It is as simple as this. A personal loan application serves as an important backup when you require financial help.

Saves Your Efforts And Time – 

Instant loan application endows you 24X7 access to your services. No matter whether you are on a trip, at work or at home, you can place an application for a personal loan with just a tap. Let’s suppose, a few years back, you had to approach the bank’s branch physically to place an application for a loan. The availability of loan apps on mobile today has made placing the application for loan paperless and highly convenient that not just saving time but even effort.

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The App Is Secured And Safe – 

When it is about a mobile loan application, your worry regarding security and privacy is understandable. Be rest assured that a mobile app is 100 per cent trustworthy and safe. There’s zero risk of losing money, but it’s your responsibility to protect your personal data and info with a strong and secure passcode. Note that Kreditbee uses highly advanced encryption technology to make sure that your personal and financial info stays safe.

Instant Cash Access And Approval In Your Mobile Application – 

Personal loan online apps are extremely faster. Such online apps are straightforward and simple to use. Once you place your personal loan application via the mobile app, the lending decision takes place in just a few seconds, and you get a quick cash loan in your savings account.

Remain Updated And Ensure To Keep Thorough Track Of All The Transactions – 

It is very simple to keep a thorough track of all your online borrowings. Mobile loan applications offer a flawless experience to you as a user. You can simply check all your details, view how much debt is left, how much you have taken up as a loan and what are the repayment dates. You might get automated payment notifications and SMS or email reminders to make sure that you do not miss out on your payments.

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24 X 7 Access To Information And Money

You hold 24 X 7 accessibility to money through mobile apps. You can conduct instant transfers in your savings account at any time. The personal loan proceeds will be available to meet any of your financial expenses, whenever you want along at whichever time you are looking to use the same.

A personal loan application is of major assistance, particularly when you are in flight travelling for professional or personal reasons. As you hold ready cash available on your mobile app, which you can take up anywhere at any time, you do not need to fret about taking up additional money.

The Credit Line May Be Utilised For Several Personal Expenditures

Whatever your personal expenditures are, a credit line is accessible easily to you on your phone. You can simply purchase a phone on EMI, opt for a marriage loan, put in more money to your startup for growth, fund your travel abroad trip, etc. With a personal loan application present in your pocket, you can meet all your urgent monetary needs easily and, in a hassle-free way.

Now that you are aware of why you must hold a personal loan application on your mobile phone, ensure to go for the KreditBee application or any other digital lender in the times you have an urgent need for credit.

No Physical Documentation

With an instant cash loan application installed on your mobile, there are zero requirements for physical documentation, which on the whole saves your time and makes the process simpler for you as a borrower. You only require uploading the required documents once and can opt for the loan proceeds of your requirement.


A personal loan application is a convenient and quick way of making a loan application. With this, there’s zero need to visit the lender’s branch and wait in a long queue for hours to fill out the application form and provide the required documents. A personal loan app available on your mobile provides a convenient shortcut to the procedure of opting for a personal loan.

Direct Fund Transfer To Your Account On Request For Personal Loan Proceeds

Even if the personal loan is approved, it may take some time for the loan proceeds to reach your account in the case of a bank. However, this is not the scenario in the situation of digital lenders. On request for the personal loan proceeds through the mobile app, the fund may be transferred directly on the same day of the application day to your savings account.

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