Instant personal loans can be used for pretty much anything, except for any illegal activities such as gambling. The lender does not impose any restrictions on how you use the loan for meeting personal needs. Instant personal loans offer a good degree of freedom of usage as well as easy application and speedy disbursal. If you are looking for applying for an instant personal loan by Upwards and wondering about how you can use the loan, here are five ways:
- For home renovation
Home renovation is done to add value to a property and also to improve the quality of life of its occupants. Renovating your home in time is important to ensure that you do not require heavy structural expenses later. It also makes sure that your asset (property) gives you a good resale value when the time comes for you to sell your property. A stitch in time saves nine, therefore you might deem home renovation immediately necessary but a shortage of funds might be a problem. In that case, you may apply for an instant personal loan to repair your home, build new rooms or make other modifications for providing accommodation for new members in the family or for adding latest amenities, or for interior decoration, and so on. You will only be required to submit some basic documents for availing the loan. The eligibility criteria for instant personal loans are very few and pretty easy to meet. For a working Indian resident aged between 23 and 55, getting loan approval is quite simple.
- For medical emergencies
Medical emergencies can come up anytime, and result in a large amount of expenses. If you do not have the necessary finance or you’re not ready to take out from your savings, you can apply for an instant personal loan by Upwards to meet high and prolonged medical expenses. Compromising on the quality of medical care is not on option, so you can go for an instant personal loan which will be disbursed within just a few hours.
- For debt consolidation
You can also use an instant personal loan to consolidate existing outstanding debts. To handle your finances more easily, you can avail a personal loan and pay just one EMI for consolidating all existing debts. If you have too many outstanding debts and several high rates of interest for each and different due dates for the EMIs, you might have trouble in dealing with your finances. In that case, you can take a personal loan to consolidate your debts to clear them quicker, and for reducing expenses and managing deadlines more easily. After you have cleared all your existing loans, you will only have to deal with one personal loan.
- For planning a vacation
Due to high work stress, often it becomes almost necessary to get away from the hectic schedule and enjoy some quality time with your family and friends on a splendid vacation. If you get the opportunity to go on a holiday but do not have enough funds to finance such a vacation, you can easily apply for an instant personal loan by Upwards and get up to 25 lakhs.
- For the dream wedding
Having a dream wedding is on everyone’s wish list in life. Indian weddings have the reputation of being lavish and full of grandeur. If you want your wedding to be a grand one, you need to plan wisely and in case of shortage in supply of funds, a personal loan will help you to cover a wide range of wedding expenses, be it booking caterers, hotels, venue, your honeymoon, and so on.
Conclusion
Instant personal loans are very handy, and when it comes to the above-mentioned expenses, instant personal loans can do wonders. These loans are easy to get and the paperwork is minimal for such loans.
