4 outstanding benefits when you apply for a loan by mobile app

apply for a loan by mobile app

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:

Greater Convenience

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.

Lower Rates

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!

Saves Time

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.

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