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Points you must consider before applying for instant online loans

It's best to stay away from instant online loans; there could also be hefty pre-payment penalties

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Instant loans come in handy as several lenders are prepared to lend to those who do not have a credit history

Sarbajeet K Sen
Have you received a mail in your inbox which read: 'Instant personal loan just a click away' or 'Avail instant loan with just a few clicks'? In case you were in need of money you might also have been tempted to avail the offer.

Instant loans on fintech platforms are the buzzword, especially for millennials. The idea is to borrow online without leaving the comfort of your home. The entire procedure is online, using your smartphone, and you can avail a loan repayable in a few days or a few months. “Instant loans through online platforms are a boon to customers

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First Published: Jun 27 2019 | 1:36 AM IST

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