TYPE OF INSTANT CASH LOAN IN UAE
There are different types of instant cash loans available in uae , and these options are mentioned below:
Same Day Loans These loans are granted the same day of loan application This credit system is best to meet emergency cash needs and requires only minimal documentation with no credit check. People with poor credit history or a bad credit score could be eligible to get this type of loan in short time. cashnow loan app is available for instant loan in uae.
credit card loan You can take quick loan on credit card. Most financial institutions or banks offer instant loans on credit cards that too at an affordable interest rate. The loan meets approval quick with no or minimal documentation it is advisable to check on the credit card you possess and the loan facility provided on it before making a decision of choosing the credit card. ADCB NBD MASHREQ BANK providing high credit limit which you can take 90 % advance instant cash loan in uae.
Small Cash Loans( overdraft) Instant cash support up to twice your salary, many renowned banks offer the overdraft facility against assets like property, fixed deposits, fixed salaried person and insurance holdings. Well, if we go deep down into the subject, there are multiple reputed banks, which are here to offer overdraft facility accounts for salaried
Advantage of instnat cash loan
- Approval and Disbursal: These loans are provided within 2 to 24 hours and at max 48 hours.
- Online Application You can apply for quick loans online
- Minimal Documentation: Applying for these loans requires minimal documentation, such as identity and address proof and
- Income proof. Thus, the approval and disbursal process is also quick.
- Self-employed Individuals A quick loan can be availed by self-employed individuals in many cases.
- Non-existing Customers Even if you’re not already a customer of the financial institution you apply to for a quick loan, you can still get the loan.
Disadvantages of Instant cash Loans
- Higher Rates of Interest Quick loans have a bit of a bad reputation because the interest rates are usually quite high – almost double the rates of regular loans. Because of this, people often consider quick loans to be expensive.
- Heavier EMI Short-term loans come with higher EMIs, which can be difficult to repay in a short timeframe. However, these loans can be useful in emergency situations.
3 best tips to chose instant cash laon in uae
- If you want a higher loan amount, you can opt for a personal loan than a credit card loan
- Make sure to check and compare interest rates, tenure, and loan amounts offered by several banks and CASHNOW in UAE before taking a decision.
- The right kind of quick loan depends on your requirements, so it is important that you understand what your financial need is before applying for a personal loan with a bank or CASHNOW.
