A few years ago, loan was mostly availed to buy a house or a car.
However, now that the times have changed, loans are now available for every need or dream.
During the ongoing wedding season where people need reliable and consistent cash flow; now they are counting on instant loans.
The major reason being better interest rates and hassle free application procedure.
Amongst fintech platforms who are working to perform best financial partners to consumers are:
BankBazaar is one popular online stop for loans, insurance, and other financial products. One can compare interest rates and insurance offers here. While preparing for the wedding one can avail required financial support from this platforms on instant clicks.
Loantap has been popular among consumers for wedding loans. The platform offers flexible wedding loan which is a blend of interest only payments in the first five months and fixed EMI payments for the rest of tenure.
Thus your monthly payments towards loan servicing are less for the initial five months after marriage. This eases out your financial planning. In effect, you get the flexibility of hassle-free loan along with convenient repayment options.
Faircent.com is India's largest P2P lending platform and have two lacs+ registered Borrowers and 18,000 registered Lenders.
Couples looking at tying the knot can take loan from P2P Lending platforms to get instant loan at cheaper rate of interest starting from 12 percent per annum up to 28 percent per annum. For personal requirements, loan amounts can vary from Rs. 30,000 to Rs. 5 lakh, while borrowers applying for business loans can avail credit of up to Rs. 10 lakh.
Rubique is one of the most popular online lenders enabling easy paperless loans through its marketplace model. Rubique's marketplace lending platform offers breakthrough features like - real time processing and online approval by direct integration with financial institutions' systems reducing the processing time significantly.
This helps save time while consumer is in need of easy and quick financial support. The procedure is hassle free as during wedding times there is no scope of wasting any minute.
CreditMantri has enabled instant personal loans and credit score check for number of consumers. The platforms helps getting in touch with correct lenders as per the credit history of the borrower. Borrowers benefit by applying only to those lenders, who are willing to lend to them and can opt for credit products, credit improvement services at price points acceptable to them.
Lenders gain by not having to waste time and energy sifting through applications that don't match their lending criteria.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)