Approaching a bank or a financial institution for a loan or financial assistance can be a daunting task. But it does not always have to be. With technological advancement, comes greater ways of conducting business and requesting assistance. Below outlines four ways applying for a loan via mobile is beneficial as apposed to the conventional way:
Instead of making time during the busy work day and ensure you visit a bank before 3.00pm, now you can log on to specific services that is specifically tailored to provide financial assistance. One such service is Cashwagon. You can now apply for a loan from the convenience of your mobile phone, literally anywhere. Once your application is approved, the funds will be credited directly to your account. Now that’s convenience.
When shopping for a loan or financial assistance, it is prudent to select one that has the lowest interest rates. Searching for online vendors may be a great option in doing so as they have their rates listed online (unlike conventional brick and mortar vendors). Another great advantage of applying for a loan via a mobile app (like using Cashwagon) is that since their business operates completely online, their service cost is lower which translates to lower interest or lending rates. Sounds great!
Applying for a personal loan via mobile app can literally take a user 4 clicks on his mobile or desktop. It may be even less if you are a registered user or have used a specific online cash lending service before. In all, this exercise may take a maximum of five minutes of your time. As apposed to half a day by visiting an offline financial assistance vendor.
Faster Approval Time
Conventional financial assistance vendors can take up to 48 hours to approve a request. And to obtain a fast service as this; a surcharge may be liable. If you compare the approval time of applying for a loan via a mobile app (like Cashwagon), it usually does not exceed 60 minutes. If you’re an existing customer; it will be much less than an hour.