3 Reasons why Upwards is amongst the best personal loan apps in India
Personal loan is the money borrowed from banks or online lenders that can be used for multiple purposes ranging from personal needs to occasions or travel. However, while taking a loan from a bank or any establishment, two things should be kept in mind- one being your personal credit score and the other is the interest rate offered.
Interest rate is something one should be aware of as it determines the monthly installments and the tenure of a personal loan. Many banks/NBFCs solely use these parameters to provide loans.
Reasons why Upwards is amongst the best personal loan apps in India
There are multiple loan apps in the Indian market today, but Upwards stands as one of the best loan applications mainly because of the following reasons:
Affordable Interest Rates and EMIs: Upwards gives the luxury to pay low and affordable interest rates. For example, on a personal loan of Rs. 50,000 can be availed at individual would pay only Rs. 2500 as EMI. Moreover, Upwards gives one an instant loan up to Rs. 2 Lakh at affordable EMI rates. The interest rates are ranging between 18-32% per annum depending on the period of the loan.
Minimal Documentation: Documentation is required to verify the name, address and income of the loan applicant. Upwards provides you with unsecured personal loans which means that there is no collateral attached to the loan. In order to apply, Upwards asks only for the PAN Card, Aadhar Card, Salary Slips of the last three months and bank statement of the previous three months from salaried individuals. The above documents must be both original as well as self-attested.
Quick Approval and Disbursal: The time taken for approval and disbursal of loans from banks is quite long. On the opposite hand, Upwards approves loan quickly within 24-48 hours and the loan is disbursed in just two days!
Flexible payment tenures: Upwards also gives the cushion of flexible payment tenures. It provides the salaried individuals with a time-span ranging anywhere between 6 to 36 months. Flexible repayment tenures mean one can pay in the time period they wish to depending on their financial health. In some months, if there is an increment in one’s financial health, customers can choose to increase the EMI amount to pay off the loan quicker.
Great customer support and connect: Upwards has an inbuilt chat support system which allows customers to chat with back-end support staff to know about the status of the personal loan and any changes in the interest rate.
Moreover, Upwards is available in all the major cities in India. It is planning to expand further. Currently, it is operational in fifty-plus cities.
As Upwards operates exclusively in India, one needs to be an Indian citizen. As soon as one applies for a loan, the loan application gets swiftly processed and approved. The loan amount is disbursed within 48 hours.