Instant Personal Loans for Self-Employed Individuals: A Complete Guide

 Self-employed individuals usually have a hard time managing all their expenses effectively. There are always some unexpected expenses, losses, and other issues that cannot be easily overcome. 

Managing expenses efficiently can be a hectic process that requires efficiency and proper financial management. This requires you to keep some finances and amount saved for some emergencies. However, it often becomes overwhelming and we need external support such as instant personal loans. 

As we all know these instant personal loans are designed to offer individuals instant access to emergency funds in case of any financial emergency. Availing these instant personal loans can bridge the gap between the cash-flow gaps and ensure you have a steady financial flow throughout your financial planning. 

However, this segment of the instant loan apply is often overlooked and untouched by various financial discussions. In this blog, as we move forward, we are going to shed some light and discuss more about the process of availing an instant personal loan for self-employed individuals. 

Instant Loan Online for Self-Employed

For self-employed individuals maintaining a regular cash flow often becomes difficult, since there is no regular income source. People working in the gig economy are completely aware of the risks they are taking and understand the financial implications of it as well. 

For self-employed individuals, these instant personal loan platforms have options that they can explore to secure an instant loan for those financial emergencies. Below are some of the important details that you might need. 

Availing Instant Personal Loan for Self-Employed

For self-employed individuals, it might seem like a different process to get access to these instant personal loans but it is not that different and difficult. Below are the required details.

• Ensure that you are of legal age (above 18/21). It can vary depending on the platform that you are working with. 
• Show some income proof such as bank statements, or ITRs (if applicable) to show a steady flow of income and your capability to return the loan amounts. 
• Ensure you have a good credit score, as it can help you secure a good amount of loan at a lower interest rate. 
• Keep your basic documents with you such as government-issued ID proof for verification purposes. 

Arranging all this, you are ready to start with your personal loan apply online process. Now in this process, you can get an instant loan based on your credit score and your income proof, but for this, you are required to carry out market research on the available options and lenders. 

Since there is a wide range of lenders available in the market, it often becomes difficult to figure out which one is right for you and which one is not. Use the points below to pick the right lender for you. 

• Look for all the available lenders that can offer you an instant personal loan based on your credit score and income stability. 
• Compare their interest rates and pick the one with the lowest interest rate for better financial stability. Also, not having a steady cash flow monthly requires you to go for safe options with lower interest rates which you can easily pay off with your income. 
• Check the eligibility criteria and the required documentation with the lenders. Every lender is going to have a different process for which you need to carefully review their terms and conditions. Some might also require legitimate proof of your business being in the market for over a period of time. 
• Ensure to check their repayment strategies and plans that you can use while planning your repayment of the loan amount. 
• Lastly, ensure that the platform or lender you are working with has a good brand reputation and is safe to use for such processes. 

Using the above-mentioned points, as a self-employed individual you can easily apply for an instant personal loan online and get access to funds immediately for your use. 

FatakPay: Instant Personal Loan

Although FatakPay is focused on salaried individuals for the time being and only to a specific criteria of self-employed individuals, being a salaried individual you can avail of your instant personal loan here and ensure that you get the best offers in the market with low interest rates, minimum documentation requirements, and minimal convenience fees as well. 

All these points can help you get access to your instant personal loan with the platform within minutes and allow you to have a simple and easy repayment plan as well. Here you can return the amount either monthly (full payment for small loan amounts) or with an EMI structure (for large amounts of loans). 

These loans are offered to you based on your credit score which can also be increased with timely repayment of the loan amounts and by ensuring that there are no delays with any bills and don’t have any outstanding bills to be paid. 

For more details download the FatakPay app today and get your instant personal loan approved within minutes. 

Quick Advance Salary Loans: Fast Cash Before Payday

 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.

Avoiding Scams: How to Choose a Safe and Reliable Quick Loan App

 The latest and advanced technologies have made our lives simple and convenient by making the processes quick. However, there is a downside to that as well which has given rise to multiple frauds and scams.  

Banking and finance sectors have been provided with these new technologies to offer the users quick loan apps for their convenience and usability. No doubt these quick loan apps are offering the best possible services to the users but there is also a risk of getting into multiple scams and frauds.  

It is essential to avoid these scams for your own safety, but the problem often comes with identification of the fraud loan apps. Hence in this blog we are going to discuss some of the major tips that can help you in the process of avoiding these scams and which quick loan apps download are to be avoided.  

Avoiding a Financial Scam: Quick Loan App 

Often, we need funds in a financial emergency, and we rely on quick loan app download for access to them. However, in this moment we tend to ignore or sideline to check for the authenticity of these apps and fall for a scam.  

Such financial scams are not a new topic, we all have heard a lot about such scams and often heard advertisements to avoid downloading any suspicious apps as well. Below are listed some major points that you need to look at to avoid any such scam.  

• Physical Address   

Since every business will have their head office or a physical office, the quick loan app download that you have made must also have a physical office. This address should be available on their website.  

 

• RBI Registration  

Any quick loan app is required to register with the RBI as RBI is the governing body for all the financial institutions. You can find this RBI registration on the official website in their About Us section.  

If you cannot find their RBI registration details, avoid the app and delete it from your device.  

 

• User Ratings and Reviews 

Whether it is a quick loan app download for android or quick loan app download for iOS, these apps will be available on the respective play store or Apple Store. On these platforms you can find ratings and reviews by previous users which can further offer you better insights about the app.  

Additionally, it is essential that you look at the recent reviews and ratings for better clarity. These can also help you in offering you information regarding any glitches in the app.   

  

• Personal Data 

These quick loan apps are designed to offer quick loan services with a minimum documentation such as FatakPay. If the app that you are downloading is asking you too much of your personal information, then it is advisable to stop using the app and delete the download.  

Gathering too much personal data can be a part of a fraud website which can be further used to offer you tempting offers as a fraud strategy. Hence, it is advisable to avoid using such apps.  

  

• Secured Website 

If the quick loan app that you are using is genuine then its official website is going to be secure which adds to the authenticity of the website and the app as well. However, if the website is not secure, then it is advisable to close the app and delete the download as a measure to avoid any financial scam.  

The above listed points are essentials that you need to check before you download any quick loan app for any transaction. Furthermore, below are some quick loan apps that are banned by the government and RBI for fraudulent activities.  

• RupeeGo 

• Punch Money 

• Grand Loan 

• Lend Now 

• Cashfull 

• CashMO 

• CreditLoan 

• Infinity Cash App 

• Kredit Mango App 

If you come across any of the above-listed quick loan apps, avoid downloading or offering your information to these apps.  

What to Do to Avoid Scams? 

Now that you know the essential points that you need to check before any quick loan app download. Here are some points that you need to follow in order to avoid falling for any scams.  

• Always apply for a quick loan with an RBI-registered lender only 

• Before processing your loan application read all the terms and conditions carefully 

• Look for any hidden charges or processing fees 

• Ensure that the app is asking only required amount of documentation 

Furthermore, here are some of the reliable and trustworthy quick loan apps that you can download.  

• PaySense  

• FatakPay 

• KreditBee 

• Moneyview 

• CASHe 

• Navi 

• Dhani 

• 
  

FatakPay: Quick Loan App Download 

Among all the above-listed RBI registered and approved quick loan apps, FatakPay is one of the most trending, reliable and easy to use apps. This app offers you easy, quick and instant online personal loan. With minimum documentation and quick processing time, it offers you easy access to instant funds.  

Furthermore, FatakPay is backed by RBI-registered NBFCs quick loan app which makes it safe for your use.  

Moreover, the app is designed with a user-friendly interface which makes it easy to use and requires a minimum documentation for offering you a quick personal loan. Here you can also avail yourself of an easy repayment policy with an easy EMI structure to help you maintain financial stability.  

Concluding Points 

In today’s world technology is playing several roles among which these scams are frauds are also playing a major role. It is important that you follow certain specific rules and regulations to avoid falling for such scams and frauds.  

With the above-listed measures you can now identify any scam and fraud quick loan app download and avoid the use. Moving forward, for better instant loan offers download FatakPay today and avail yourself of your quick loan today.