Borrowing a personal loan for an urgent need is a great option, but what happens when you already have a loan and more requirements come up? Enter credit line loans: these are loans you can avail against a pre-sanctioned credit limit and which are disbursed immediately upon applying for them.
These are 4 things that a credit loan can finance: 1) A small wedding. Weddings are elaborate affairs in India, but your plans for a grand bash may have been cancelled by frequent lockdowns owing to the Coronavirus scare. Or you might have always wanted a simple wedding at your home, with just your close family and friends in attendance. If you’re looking for a simple but beautiful ceremony this year, let the credit line loan help you out. Get the loan instantly to finance the wedding trousseau, arrange for seating, decorations, catering and flowers. Now set the date and have the intimate wedding ceremony you’ve always wanted. 2) A medical procedure. Medical emergencies can change your life in an instant, but it takes quick financial support to (literally) get back on your feet. You might claim health insurance but it will be processed only at a later date. Meanwhile, an instant credit line gives you up to Rs 4,00,000 to pay for the medical procedure that you or a family member may need. It can also take care of expenses related to COVID-19 treatment at home, and which are not covered by health insurance policies. 3) Shopping for an event. Suppose there is a wedding or a celebration of some sort in the family. It entails arranging for groceries, paying for catering, hiring furniture, etc. Instead of going to the provision stores for groceries, you can buy whatever you need online from e-commerce sites like Big Basket. This is where your credit line from a leading app comes into play: the app may have a Buy Now Pay Later (BNPL) tie-up with major retailers like Big Basket. This enables you to shop for whatever you need using your instant credit line and Big Basket grocery shopping will deliver the items the moment the order is completed and placed. You can pay for your purchases from the credit line a few days later. The Big Basket grocery shopping loan is a boon when you need last-minute provisions and are running short of ready cash.Need to rephrase this as per grocery loans 4 A short holiday. Most people look forward to taking at least one holiday a year, and with travel restrictions easing up in most places, it is time you planned your next trip too. But if you have a funds crunch, just let the credit line loan pay for your next trip. Assess how much money you need and borrow against your available credit limit to buy tickets and make hotel bookings in a jiffy. Conclusion Credit loans from leading apps make it easier to finance expensive purchases and short term emergencies.
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September 2021
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