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Do You Know Different Types of Short-Term Loans in India? Have a Look

· small personal loan,personal overdraft
small personal loan

You would be amazed to know that half of the Indian population may be willing to apply for small personal loans to match their multiple needs.

Ashort-term loan such as small personal loans is among the best alternatives to cover your needs without issues.

If you want to know about leading short-term loans in India, then this article will guide you!

1. Small personal loans

If you have a robust credit score of 750 or more, clean repayment and consistent employment and income record, then nothing can stop you to get small personal loans. Most of the people looking to immediate money apply for small personal loans as it comes with instant approvals, money disbursement and flexible tenor to pay small EMIs. Applying for small personal loans is now possible online to save your time and efforts.

2. Loan against credit cards

If you have a credit card that you pay the bill on time, then you may avail a pre-approved loan against your credit card to cover your needs. You can check the loan offer either on the website of your lender or its app. Once you apply for it, you can get immediate funds with negligible documentation.

3. Bank overdraft

Do you have a current account in a bank? If yes, then you can take a personal overdraft loan if you need financial assistance. This way, you can make a withdrawal on above and over your balance in the account.

4. Loan against assets

Be it the fixed deposit, mutual funds, insurance policies and more; you can also use these assets to avail immediate financial assistance. A percentage of the amount in these assets may be provided as a loan.

Other than these options, you can also use the gold to avail quick money and cover your needs. Thus, based on your requirements, you can go ahead and apply for any of these alternatives in India.

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