Different lenders extend pre-approved loan offers to offer a more intuitive and personalised borrowing experience. A pre-approved loan is an ideal borrowing tool for individuals looking for easy or urgent funds. These loans are ideal for short-term goals and generally have tailored terms based on the borrower’s profile. In some cases, certain lenders may even offer special rates and discounts on fees and other charges. Here’s a quick guide on how to avail a pre-approved personal loan.
How to avail a pre-approved personal loan offer
Typically, the process to avail a pre-approved personal loan starts with customers having to check if they have a valid offer. Here, customers need only log into the lender’s dedicated online customer portal or check on the smartphone application. Customers that qualify for pre-approved offers can then proceed by following this checklist.
1. Verify the terms of the loan
2. Check the fees and charges applicable
3. Accept the pre-approved offer
4. Authorise disbursal and wait for the funds to get deposited into the bank account
Depending on the lender or financial institution, this process can vary. However, customers can expect a simplified, more streamlined, and hassle-free experience when availing pre-approved offers. These instruments are designed to offer quick funds to eligible customers, which is why it is easy to access. In fact, this benefit is one of the reasons to avail a pre-approved personal loan. Here are the other reasons why such loans are a good idea.
* Eliminates the need to apply for a loan
* Paperless procedure
* Instant funding solution
* Exclusive deals with flexible terms
Knowing how to avail a pre-approved personal loan is important as lenders will frequently extend such offers to their long-standing customers. Do note that these offers are available for a limited time only and will change based on a customer’s credit and financial profile. In any case, customers must compare offers before accepting or authorising disbursal to ensure that they get the best deal.