The usage of credit cards in India has increased over the years. Many online reports say that there are around 50 million active credit cards across India in circulations. Credit cards help users fulfil their short-term needs in cities like Chennai and elsewhere.
However, for long-term needs such as debt consolidation, home improvements and more, users rely on the personal loan in Chennai facility.
But did you know that users also apply for a personal loan in Chennai and other cities to pay off credit card debts? Yes, you have read that right!
Let’s take a look at the possible reasons users do that. Read on!
1. Gives a higher loan amount
The personal loan in Chennai from leading lenders comes with a higher loan amount of up to Rs.25 lakh. Thus, you can employ it to clear your entire credit card debt and other ones in one go. This way, you can keep paying just one EMI and also maintain a higher credit card with timely payments.
2. Instant approvals
Anyone with a robust credit score, employment and income can apply for a personal loan in Chennai and get instant approval online. What’s more, these loans are also without any collateral or security being asked.
3. Money in your bank in 24 hours
Once you have the loan approval, you can get the funds disbursed into your bank account within 24 hours to start paying off the credit card bills.
4. No restrictions on fund usage
Since it’s a personal loan, you can use the loan amount to pay for medical bills and other expenses, outstanding but anything under the sun unless and until it’s not for illegal purposes.
5. Flexible tenor
The personal loan in Chennai lets you repay the loan EMIs over a flexible tenor ranging up to 60 months so that you can manage your outlays without issues.
If you are also finding the management of credit card bill payments a bit tough, then you can make the most of the online personal loan in Chennai facility right away!
Additional Read: What Makes a Personal Loan Ideal for Young Professionals?
