Traditional banking system takes a lot of time to process your monthly salary, especially during the festive season. Every office gets overburdened during this time and so do the banks. But this delay should not cause any hindrance in your lifestyle and expenses.
To avoid any such scenario, with the help of advanced technologies, advanced salary loan apps have been designed to assist you in such a situation. At times, our salaries get put on hold during notice periods and changing careers, but our lives cannot be on hold.
These advanced salary loan apps are designed to ensure that you get your monthly salary on time to manage all your expenses. Such apps have gained popularity among corporate salaried employees and offer them a suitable solution for managing their everyday expenses.
Moving forward with this discussion, we are going to shed some light on the benefits of these apps while also enlisting some of the popular apps that one can use.
Salary Advance Loan Benefits
Here are some of the most common benefits of using these advance salary loans and the reason behind their popularity.
Easy Access to Funds
One of the best benefits of the main reason behind the popularity of these advance salary loans is that they can offer you easy access to salary funds before your payday. You never know when you might need funds or encounter a financial emergency, this requires you to have easy access to funds.
With advance salary loans you can get access to these funds before your actual salary is credited and manage your expenses easily without any issues.
No Documentation
These advance salary loans don’t require extensive documentation for loan approval and processing. Instead, these are usually processed with minimum documentation, which further adds to the convenience of these platforms for the users.
Convenient Process
The entire process of advance salary loans is convenient for the users and enables them to manage their expenses effortlessly. Furthermore, the repayment process is designed to offer you the required flexibility to repay the loan amount. Here you are required to make a full monthly payment for a small loan amount, or undergo a simple EMI structure for a large amount of loan.
Low Interest Rate
Often these salary loan advances have low interest rates or offer loan amounts without any interest rates as well. This enables the users to have access to funds at a convenient interest rate and also ensures that they get the best possible offers in the market.
Easy Repayment
As mentioned above, these platforms offer an easy repayment structure which adds to the convenience of the users. With low or zero interest rates this gets even more convenient and simple for the users to plan the repayment of the loan amount.
Financial Management
Advance salary loans help companies to have an effective financial management process and ensure that all your expenses are managed without having to worry about your paycheck being on time.
Advance Salary Loan Apps
Having discussed some of the major benefits of availing salary advance loans, here are some of the most commonly used apps for the same.
PaySense
With PaySense you can avail of an early salary advance loan from Rs 5000-Rs 5 Lakh. This wide credit range helps you avail the required amount of loan to manage your expenses and ensure that all your requirements are met.
With an interest rate of up to 3% per month, the loan tenure can be extended from 3-60 months.
KreditBee
The next app on the list is KreditBee. With this platform, you can avail of advance salary loans from Rs 1000- Rs 4 Lakh and have easy access to the funds. Here you can experience an interest rate of 2.49% per month with a loan repayment tenure of 3-48 months.
MoneyView
Another reliable advance salary loan app that you can use to avail of these salary advance loan is MoneyView. With this platform, you can get a credit limit of Rs 5000-5 Lakh. Additionally, here you get an interest rate of 1.33% per month along with a loan tenure of 3-60 months for convenient access to funds.
Fibe
Lastly, you have Early Salary, one of the most commonly used platforms these days among corporate employees. It offers you a credit limit starting from Rs 8000 to Rs 5 Lakh with an interest rate of 12-30% per month. Here you get a loan tenure of 3-36 months which makes it convenient for you to devise a robust repayment plan without having to burn a hole in your savings.
FatakPay: Instant Access to Funds
Among all the available options and platforms, FatakPay is a commonly used platform to avail advance salary loans in case of an emergency. It helps you to get access to funds instantly with minimum documentation, and with fast processing.
Along with this, the platform is designed to offer users the best possible experience for submitting loan applications and getting access to funds without any hassle. In addition to this, the platform is backed by RBI-registered NBFCs which makes it safe and secure to be used for availing these advance salary loans by the users.
For more details download the app today and get access to emergency funds and ensure that you get the best possible offers.