Short Term Loan

The CIBIL™ score is one of the most important factors that influences your short term loan application.

Whether to go for a short or long-term loan depends on a lot of factors like your financial needs and situation. While the interest paid will be less on a short-term loan, the EMI will be lower on a long-term loan. Here are some facts to consider before you decide on a short-term or a long-term loan.

CreditFit is a product launched by CreditMantri. You can enhance your credit score and get loans at best market interest rates using CreditFit. We have a team of experts who will give valuable tips for these. Let us now read on to find out more about how to get a loan and the role of CreditFit in getting a loan.

Sometimes, during emergencies, you cannot approach an NBFC or a bank for a short-term personal loan every time. This could be for various reasons such as not having a good credit score, not having a stable or good monthly income, and so on. Also, banks usually disburse the loan amount in 6 to 7 working days.

EarlySalary is a mobile-based application that acts as a salary advance for its users. It is an online lender that caters to the immediate financial needs of salaried people. It offers loans for all purposes, be it last-minute rent payments, utility bills, shopping, traveling, or medical emergencies.

Life is full of uncertainties and thus a need for money is something that can be needed by an individual at any point in time. A personal loan is the best financing option one can avail of at this time as the application process is fast and the disbursals are very quick. Fibe personal loan is based on your salary as the name suggests and will be offered to individuals as per their needs and the repayment capacities.

Credit cards are a popular form of credit, but not many know about Line of Credit or Short Term Loans and don’t use them either. A credit line, a short-term loan, and a credit card are all unsecured lending instruments, meaning that no collateral or security is required to use credit through any of them.

The Indian consumer market boasts of young buyers who are always on the lookout for ‘buy now pay later’ options while making any big-ticket purchases. As more and more users prefer to buy high-end variants of consumer durables, smartphones, etc, there is a growing need for smart financing solutions that allow buyers to make instant purchases without having to pay the entire value of the product upfront from their pockets.

Medical emergencies, sudden unexpected expenses on the personal front, or cash shortages – can affect all of us at any time. During these challenging times, raising cash immediately becomes a huge struggle for all.

Short-term loans are generally extended by financial institutions for 1-2 years. These are mostly unsecured, which means you don’t have to pledge collateral as security to avail them. Though funds can be extended quickly, the reason why they are labelled “short-term” is the associated repayment tenor (to be paid off in full within 6-18 months) rather than the speed of funding.

There are times when a lot of us come across some unexpected personal expenses for which we may not have enough funds. An instant loan could be the right option in such situations. These are easy to apply online and are for shorter tenure involving quick processing.

Financial emergencies are almost always unpredictable. These can strike anyone at any time without warning. The situation could be even worse if they strike and you don’t have sufficient personal finance to take care of the emergency. Thankfully, with the availability of short-term loans, you can manage the situation relatively quick.

We agree that the need for credit can arise any time. It could be for reasons such as layoffs from employment, medical emergencies, need to travel or to buy expensive gadgets such as Televisions, Mobiles, etc. The reasons can be endless. Similarly, the duration for which the loan is required can also be varied.

What is bridge loanBridge loan is a type of gap financing where the borrower can get access to liquid short-term loans for meeting short-term cash requirements before getting a more permanent source of funding. As the name suggests, bridge loans help in bridging the gap between short-term cash requirements and long-term loans. It is called a bridge loan because it serves as a bridge between two periods of funding, the second one being the more permanent source of funding.