UNEXPECTED BENEFITS OF GOING WITH PAPERLESS PERSONAL LOANS

UNEXPECTED BENEFITS OF GOING
WITH PAPERLESS PERSONAL LOANS
This is probably the highest availed credit product of present credit market. A
number of benefits of a paperless personal loan have made it the first choice of
many.
There are many benefits which a person can enjoy if he/she opts to have a
personal loan online. Here are some of the benefits of personal loan which have
made people get inclined towards paperless personal loan.

1) Reduces Your Carbon Footprint- If you are a person who is concerned
about the environment, then you must opt a paperless personal loan. A paperless
personal loan is one of the ways to minimise the use of paper hence it will
reduce your carbon footprint. With a busy schedule of life, many of us don't get
enough time to do our bit to increase the greenery of our planet but by going
with a paperless loan we can help a plant to not get cut.
2) Saves Money- Yes, it is true that a paperless personal loan makes some
amount of money to stay in your wallet. While going with a paperless personal
loan, you don't need to travel several times to the lender's office, so you save the
travelling expense. Even you don't need to take out copies of the needful
documents to submit for loan processing and again you save some more
amount.
3) Less Time-Consuming- This is an obvious advantage of online loans.
Online loans are faster in approval and disbursal. Most of the lenders disburse
the personal loan within one or two business days. Because of this nature of
personal loans, such loans are popularly known as Same Day Loans.
4) Keeps Your Documents Safe- When you avail instant loans online, you
don't need to submit any document physically. Just a scanned copy of your
document is needed to be uploaded to the website of the lender. In other words,
your important documents are safe with you.
5) Better to Track- When you apply for a personal loan online, you will
receive an access to your online loan account. Such online loan account can be
accessed by any device i.e. laptop, mobile or tablet. In this way, a loan
applicant/ a borrower can track his loan at any time and from anywhere. One
just needs an internet connectivity and all about your loan is within your reach.
6) Better Privacy- It is seen many a time that people don't want to share their
financial life. If you are also one of them then you can better apply for a loan
online. Online loans are always a secret between the borrower and the lenders.
Lenders never share such confidential financial activity with a third party except
for the credit bureaus. All the financial institutions are abiding by the strict
privacy policy which ensures the confidentiality of each and every borrower.
7) Can Be Applied With No Credit History- Here comes the last and most
unexpected advantage of paperless personal loans. A credit score or the credit
history was always been a must-have factor for the approval of a personal loan.
But if you apply for a personal loan online, the lender may approve you without
a credit report. A credit report or a credit score starts forming when you avail
any kind of loan. If you are new to credit, your credit score will be 0 (Zero).
Getting a bank personal loan with such credit score is near to impossible. But

the online lenders like Finance Buddha approves a credit to the ones who are
new to credit.
The loan process which we used to follow till last decade was a stressful and
lengthy process. The never ending queues in banks were always been a
depressing factor for any loan seeker. An online loan makes loan seekers apply
for a loan online while being in comfort of his own couch. Even the follow up
and the tracking of the loan can also be done online. A paperless loan has
replaced The conventional lending system which involves huge paperwork as
you need to submit all documents. This upgraded version of personal loan
which we call paperless loan is a real boon of internet to the finance industry.