Acquiring short-term loans can efficiently help you manage unplanned emergencies. As the name suggests, a short-term loan is usually given to individuals for a very short tenure. This means you are required to pay your loan amount within a month or a year.
You can acquire short-term loans if you cannot repay loans for a longer tenure. This type of loan is usually unsecured, so you don't need to pledge any of your assets as collateral. With a short-term loan, you can seamlessly tackle both your planned and unplanned expenses.
Moreover, you can also apply for a short-term business loan and get it approved within the shortest possible time. It doesn't take much time for your loan to get approved because it has a minimal documentation process and simple eligibility criteria.
If you want to apply for a short-term loan, then you can easily avail of it from Piramal Finance. You can avail remarkable loan deals once you associate with us!
Regardless of your emergency, an instant, short-term loan can help you get the funds immediately. Once you get through the verification process with Piramal Finance, your loan amount will be disbursed into your bank account. The best part about short-term loans is that the disbursement happens within 24 hours.
Another great thing about short-term loans is that their repayment tenure is brief. Thus, a short-term loan is quite cost-effective. With highly affordable interest rates and flexible lending tenure, opting for this unique line of credit facility is truly beneficial.
Please note that similar perks are available across several other types of short-term loans. So, to narrow down things as per your requirement. We have listed some of the top benefits of short-term loans here:
If you plan to apply for short-term loans online, you must meet the basic eligibility criteria. They include:
You can always use the short-term loan eligibility calculator on Piramal Finance's website. This way, you will get an estimate of the sanctioned amount before you apply for a short-term loan.
You need to submit a few documents to get access to your loan amount as soon as possible. So make sure you go through the document checklist of Piramal Finance before applying for a short-term loan.
However, some of the basic documents that you need to submit for short-term loans are:
Once you provide these documents, along with others, your short-term loan will be approved. And within 24 hours of approval, you can get your loan amount disbursed to your bank account.
Go to the Piramal Finance Short-term loan term page. Read the features and eligibility criteria, and start the application process.
Click on Apply Now
Fill in the required Personal details such as Name, Contact Number, Birth Year, and Short-term loan amount.
Choose the employment type 'Salaried' OR 'Self-Employed'
Add your monthly income
Fill in the required Personal details such as Name, Contact Number, Birth Year, and Short-term loan amount
Wait for a call from the official representative to move ahead with the processes.
A few additional charges are associated with short-term loans. They include:
Short-term loans usually start at INR 5000 and can extend up to INR 3 lakhs. The range of short-term loans is lower than other types of loans because they come with an exceptionally low repayment period.
Short-term loans' repayment tenure typically ranges from 1 month to 12 months. As the name suggests, you need to repay your loan as early as possible.
Using UPI, you can use the EMI payment method to repay your short-term loans. You can also use net banking with IMPS or NEFT using the virtual account that has been specifically allocated for this purpose.
Piramal Finance offers an interest rate of 17% p.a.
You are not required to pledge any collateral for short-term loans. This is because short-term loans are generally unsecured and don't demand any security for the loan amount.
Short-term loans are safe. It is regarded as the ideal option for someone who is in dire need of immediate funds. Once your purpose is solved, you can repay the loan amount along with interest within a very short time frame.
The short-term loan interest rate of Piramal Finance is 17% p.a.
You can avail of short-term loans in case of emergencies when you are in immediate need of cash. You can also avail of short-term loans for vacations, weddings, paying off debts, renovations, etc.
Short-term loans don't have the potential to affect your credit score. Nevertheless, defaults in your EMI for short-term loans can significantly deteriorate your credit score. Thus, you must pay your installments without any delay. This will help you maintain a remarkable record of your credit score.
If you are above 21 years, employed, and hold a bank account, you can easily avail of a short-term loan.