5 reasons to use a loan app to apply for a home loan
Technology has a tremendous impact on our life. Mobile phones play a critical role that you cannot avoid them anytime. They have transformed from being just a communication tool to a revolutionary device, which helps you perform innumerable activities from communication, shopping and paying utility and credit card bills to applying for a loan, tracking expenses and managing money. The innovative mobile apps like a loan app helps you apply for housing loans or any other loans from anywhere and at any time.
Most banks today make use of the advanced technology by integrating mobile apps withtheir financial solutions. The IDFC FIRST Bank’s Loans app offers its customers a platform to apply for home loans instantly and get the approval within a few hours.
Why use IDFC FIRST Bank Loan App to get a housing loan?
Gone are the days when you had to visit a bank to find your home loan eligibility and apply for it. With a reliable loan app, you can know whether you are eligible for a loan or not within minutes. Other than this, the IDFC FIRST Bank’s Loan App helps you with the following:
- Hassle-free application process
When it comes to applying for a home loan online, you can do it on the app easily. For the purpose, you need to download the loan app from the IDFC FIRST Bank’s official website and log in using your User ID and Password. Once done, you can apply for a housing loan by filling out an application form with your personal details, including your PAN and Aadhaar details, employment status, etc. You have to submit the application with necessary documents to receive the approval.
- Flexible loan amount and tenure
On the IDFC FIRST Bank Loan app, you can apply for a home loan ranging from Rs 1 lakh to Rs 5 crores based on your requirement and eligibility. The loan is available for a term ranging from 12 months to 360 months.
- Competitive interest rate
When it comes to choosing the best bank for home loan, IDFC FIRST Bank figures one among the few prominent ones offering loans at a competitive home loan interest rate.
- 24-hour accessibility
You have access to your bank through the loan app anytime. It helps you check for the loan eligibility and apply for it even during the nonbanking hours. You can even track the status of the loan after applying for it.
- Quick processing
A traditional loan application process takes several days or a month, and it was a tedious process, for an applicant has to visit the bank several times to meet the eligibility requirements. The online process has changed this completely. You can use a loan app to check your loan eligibility, go through the terms and conditions, calculate the EMI using the home loan EMI calculator, submit the application with documents and get the approval after the process within a few hours or days.
With the IDFC FIRST Bank loan app, you can do away with the tedious and time-consuming process of getting a home loan.
