An App That Helps You Get Instant Credit

An App That Helps You Get Instant Credit
April 30, 2018 K Compare
instant credit card Approval

An App That Helps You Get Instant Credit

In today’s technological based world, we expect speed and comfort of home in every aspect of our lives. Everyone has their jam-packed schedules and have no time for waiting around. Accessibility to everything from the coziness of our couch is the best gift technology has given us. We book our appointments, flights, hotel rooms online; we do shopping online whether it belongs to our kitchen or in our wardrobe.

Then why not get an instant credit online? There are times when you need to pay for something that is financially out of reach. For instance, you were eyeing a laptop ever since and finally it’s on sale but you don’t have the funds to buy it. Time is the essence here and amount is not too big hence, getting instant credit through an app can definitely save the day.

But traditionally, borrowing and lending of money is a bank service, which involves paper based process and usually it takes days before receiving it. Or another way is to swipe a credit card. Then how an instant credit through an app can save the day?

What Is An Instant Credit App?

In simple words, an instant credit app enables customers to get instant credit (a loan which is approved to the borrower) maintained by various banks or by credit institutions that are specialized in this type of financing via internet. It is somewhat similar to a traditional loan yet relatively quicker. Also, is has its own different features and benefits. Let’s have a closer look at it.

For Example: TEZ financial service’s application Tez is a smartphone application in Pakistan that provides instant cash starting from PKR 1000 within few minutes if the customer qualifies for it. The company uses customer’s phone data (phone calls, message logs, Facebook details, etc.) to determine creditworthiness.

Perfect For Emergencies:

Landing into financial emergency is a part of life. In that time, people need to borrow money urgently which is not possible through banks or traditional lenders as they take few days for approving loan applications. In these emergency situations, online loan is perfectly suitable because they provide instant cash within less than an hour, without explaining what the purpose for borrowing the money is.

Convenience:

One of the biggest reasons for choosing instant credit through app over a traditional loan is that you don’t need to leave the comfort of your house and you don’t need to make multiple trips to the bank. You can apply for an instant credit when you have 5 minutes to spare, fill an online form which is easy and the time to receive the instant credit will be hardly few minutes.

Privacy:

Mostly people prefer to keep their financial matters private. While applying for an instant credit, nobody will watch you walking inside a bank or lender’s office. You can apply by yourself from your home without worrying about friends or family.

24/7 Accessibility:

When applying through an app, your applications are reviewed straight away and processed immediately. There is no waiting in long ques or for bank’s opening hours. You can apply online either its day or night.

Speed:

When you need a loan, you may have to travel to reach your desired local bank or lender’s office, also you have to wait for your turn which clearly consumes your time and reduces the speed of having money with you. But through an app, it can be much faster and smoother as all the process is completely automated which is functioned without any human interaction at any stage.

Currently, Digital finance services are growing in Pakistan. Many online loan apps are now available in market for Pakistani consumers and are increasing its financial services tremendously. The development in this area indicates positive changes and adoption of new techniques for the comfort of their consumers in Pakistan.