Which is the Best Option: Online Personal Loan Through Apps or Offline Personal Loans?

1. Which is the Best Option: Online Personal Loan Through Apps or Offline PersonalLoans? • When you don’t have money to make ends meet, apply for a loan using a personal loan appto get instant access to funds. Due to the advancement in the Internet & Technology, many people chose to apply for a loan through a personal loan app. But, there are a few people who consider applying for an offlineloan. • To know more about this, firstly, let us know the major differences between applying for a loan through onlineloan app and applying for a personal loanoffline. • Online personal loan app vs Offline personalloan • Loanaccessibility • In a few simple clicks, you can apply for an instant loan right from the comfort of your home. Location has no role to play for an onlineloan. • If you are applying for an offline loan, then you have to visit yourlender’s • physical location and stand in aqueue. • Loan documentation process • Now every business is listed online and so are thepersonal loans. The entire application process right from filling the loan form to loan disbursal is carried out online. The application is simple and paperless. Lenders request you to upload only a few mandatory documents for furtherapproval. • Foranofflineloan,youneedtofilloutthenecessaryformsmanuallyand • undergo a face to face interaction with your loan officer for further verification. If you match the eligibility criteria put forth by your lender, then you can apply for an offlineloan. • Loan processingtime • It is easy to apply and get approved for an online loan using a personal loan app. Just submit your accurate information and you will be approved in no time. But the approval time differs from one lender to another and may last anywhere from a few hours to a fewdays. • The time taken to process an offline loan is significantly longer when comparedtoanonlineloan.Thedocumentshavetobesubmittedinperson • and after verifying your details, your eligibility will be determined. So the entire process to apply for an offline loan takes moretime.

2. No additionalcharges • No additional charges will be imposed if you apply for an online loan using a personal loan app. Any information regarding charges is mentioned on the loan app of yourlender. • For an offline personal loan, additional charges may be incurred in the formof • commissions byagents. • I believe that you will consider the above-discussed points before applying for a loan. But the next question is, which online personal loan app is the best? Let us dive into the details of the best personal loanapp. • Why chose FlexSalary app to apply for an online personalloan? • FlexSalary Appis India's first app-based credit line. It is a loan offering product from an NBFC (non-banking finance company) called Vivifi India Finance Private Limited. It is registered with RBI (Reserve Bank of India) and you can apply for a loan from a minimum amount of INR 4,000 to a maximum amount of INR2,00,000. • With FlexSalary, salaried professionals like you can get cash instantly to cover your emergency needs. You can download the app either from the Google Play Store or from the App Store. The best advantage of applying for a FlexSalary loan is you pay interest only on the amount you have withdrawn and not on the total amount that is credited. • Conclusion • It’s your choice to apply for a personal loan offline or applying for a personal loan online through an app. But if you need access to instant funds, then applying for a personal loan online with FlexSalary app is the bestsolution.