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Personal loans - Fit your dreams in your Pockets

· Personal Loan Advice

Every millennial today wants a life full of leisure and luxuries. The young professionals work hard and earn their living. But they are not ready to compromise on their dreams. They live their life with no compromise. Luxurious weekends, dine outs, parties, expensive gadgets and all such experiences are on their bucket list. But is all of this possible without the worry of the monthly expenses? While you might be thinking about a luxurious holiday or that latest new phone or watch, the real question is – how to finance the desired dream?

People tend to wish for luxury and yet settle for compromises. Why would you do that when you can get your desired life by wisely managing your expenses and choosing a suitable credit option! Although Personal Loans are getting more affordable day by day, there still exists confusion amongst people on which Personal Loan to go for and from where.

Here are some personal loan products designed to meet your cash requirements at different stages of your life.

EMI Free Loan – To summarize this personal loan in just one line; it is a loan that is fit for your pocket. When you want your loan to be flexible and fit your pocket at the same time, EMI Free Loan is your safest bet, especially when you are ready to spend big.
In an EMI Free loan, you pay only interest towards your loan every month, and make a bullet payment towards the principal outstanding every 6 months. And once principal payment is done, your outstanding loan balance decreases and fresh interest calculations are done in accordance with the new balance. This is a form of a unique personal loan that can fit all your requirements without being heavy on your pocket. This helps to reduce the installment amount drastically and lets you spare some money for other expenses or savings.

Advance Salary Loan – A Salary Advance loan is a short-term loan against salary with quick processing benefit. During the last few days of the month, when you need the salary urgently to attend to some important needs, Advance Salary Loan will take care of your needs until you receive your salary. Any salaried individual is eligible to avail a line of credit which will be in multiples of his/her net salary, which can then be repaid within a period of 3-12 months in equal monthly instalments.

Personal Overdraft - Overdraft facility is a Credit line extended to you on your account. When you are not sure of the amount that you are going to spend, get a pre-approved personal overdraft loan. It works like a safety deposit kept aside for any kind of requirement. You can withdraw multiple times depending on your needs and pay off when you have the capacity. The added benefit to an Overdraft facility is that it charges interest only on the amount you withdraw and not on the entire loan amount extended to you and is just lying unused. It works like a credit card facility however, it is much cheaper and affordable. Interest rates on credit cards are as high as 3-5% per month. Personal overdraft is available at 1.5% monthly interest rate. However, it helps you build financial discipline along with lower cash outflow. No withdrawal – No interest payment.

While managing your finances may seem like a difficult task, it shouldn’t lead to a compromise on your luxury. If you manage your expenses carefully, you will be able to manage luxury within salary. Opting for the right personal loan at the right time will help you take control of your finances and will not add the burden of additional EMIs to your monthly expenses.