Many people lost their jobs because of covid 19.when in an emergency situation, we received many ways for money.One of the most important of these is taking loans from banks and others.A loan is an important responsibility of the borrower that requires full attention and timely repayment of the principal and interest rates.
If you repay your loan well,you will get a good credit history. We can take personal loans also. It can help you make a big purchase. Personal loans have lower interest rates than credit cards. If you have a stable income, getting a personal loan is a good idea. You will get a good credit score because it offers a low rate of interest. You can use funds from personal loans for any legitimate financial needs.
Based on whether they require Collateral , loans are classified into secured loans and unsecured loans. In order to fulfill their needs people borrow corporate and non corporate loans from banks. Banks make money by taking in funds from depositors and lending money out to customers.
We can buy loans from banks, private institutions and online applications. Most banks give money with RBI approval. You are more likely to be deceived in many ways. So be careful. Today I would like to introduce you to a money lending system that we can trust completely.
Today we can see how to get a loan without collateral. We will get this loan within 5 minutes.we will get a loan from a federal bank. It is a mobile app .It is called a fed mobile app. We will get a loan easily. This loan is called pre approved loans.
It doesn’t need any documents. Normally a loan needs credit history, cibil score,documentation, etc. These pre-approved loans have new user interface features. It is now available in IOS,Android mobile phones.
We must update FED MOB APP.Enter the pin number. We can send money through UPI. And we can transfer money with QR code scanning. We can check the balance through this application.
We can track expenses through this application. We can see the options of mobile recharge, fast tag, booking, bill payments, fees payments, DTH recharge ,insurance donation, expense manager,in it. We can manage the card. We can see the overview of insurance. We can check the status of a pre approved loan. Minimum loan amount is Rs 48,000. If this loan is approved, we can select the loan amount from it. 12 months are the repayment period.
Select the proceed button and we can see the EMI amount,credit,repayment details. Its interest rate is above10 %. You should give processing fees to it. After some time the loan amount got in our account.
If you have a deposit in a federal bank, there are three ways to get a loan .If you select in advance, you will get a 90 % loan amount.you should pay 2% extra interest rate. You will get a loan through a fixed deposit or overdraft. 22 months are repayment period.
Bank loans are also safe. Pre-approved loans are also safe. Because it is an offer from the banks. It doesn’t need documents.