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Availing Personal Loans Just Became Super Easy with Digital Lending

Demonetization has revolutionized and is continuing to revolutionize Indiau2019s financial landscape in several ways. And the effects are evident in the loan sector as well. Digital lending platforms are being introduced by many forward-thinking NBFCs and banks for availing loans, especially personal loan. This means, when a borrower applies for a personal loan, the digital lending platform assesses his or her financial and personal information and credit-worthiness online. There is no need to submit application forms, bank statements, or other documents manually, anymore.

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Availing Personal Loans Just Became Super Easy with Digital Lending

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  1. Digital lending has made it super easy to avail personal loans

  2. Advancements in Digital Lending

  3. End-to-end Digitization • The digital process has minimized paperwork, manual processes, and is completely automated.

  4. Interactive Service • Resolve all your queries through chatbots, video chats, and online videos now.

  5. Personalized • With AI tools, you get personalized financial guidance.

  6. Value-added Services • Apart from funding, you can enjoy many other services as well.

  7. Benefits of Digital Lending • You do not need cumbersome documentation for loan approval. • You get to know your EMI beforehand. • There are no prepayment penalties or hidden charges. • Simple and transparent loan process. • Your social media profile provides KYC information.

  8. Challenges of Digital Lending • Needs advanced IT support. • Manual sales lead system instead of bots and automated pre-qualifying system. • Lack of a portal that provides details to stakeholders. • Lack of digital contract management system.

  9. Digital lending has numerous benefits. However, a few issues still need to be addressed in order to improve and hasten the service.

  10. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, BasantLok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more- Availing Personal Loans Just Became Super Easy with Digital Lending

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