A credit card is an excellent financial instrument. When shopping online or swiping in real life, a credit card gives you a sense of financial freedom which seldom credit instruments provide. You can move around without carrying hard cash in your wallet, and the effective usage of it can boost your credit score. Take it lightly, and a bad credit score can ruin your chances of availing fresh credit.
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We are so busy nowadays that keeping track of anything has become difficult. Government changes and prices of commodities soar, but we are so focused on our daytime jobs that keeping track of even our credit card expenditure becomes hard. Financial stress is a major health concern among millennials today.
You might also want to know how to apply for a consumer durable personal loan
What is Credit Card Refinancing?
Leaving your credit card’s credit limit to run lose can lead to a credit card debt. This, in return, will garner an added interest charge. Gradually, you are stuck in a vicious circle of never-ending minimum payments.
During times of such financial jeopardy, your ‘aakhri raasta’ will probably be applying for a credit card refinancing personal loan. Many also term it as ‘applying for a credit card consolidation loan’. Calling it ‘debt consolidation loan’ is also not incorrect. Refinancing your credit card does not mean your monthly repayments will be erased with one swish of lump sum debt clearance.
Credit card refinancing is a simple monetary transfer of credit card balance from one credit card to another, the latter of the credit card having favorable pricing or credit limit. Now, assume that you only own one credit card and with obvious credit card debt, it is impossible to be allowed the sanction of a new one. For individuals who cannot transfer credit card balance from one credit card to another, there is an even better financial option of applying for a credit card refinancing personal loan.
Credit card refinancing will ensure that your monthly repayments continue, not as credit card statements, but as monthly EMI repayments. The goal is to refinance your credit card debt in the form of a personal loan instead. But, to successfully avail a personal loan you need to convince your new credit lending institution that you are capable of paying your EMIs promptly.
Do you know which is the best online personal loan website?
Which is the best website for a Credit Card Refinancing Personal Loan?
Don’t wait for any monetary help from banks, get online and search for Loan Singh. Credit Card refinancing loan is a financial opportunity that is not offered to everyone. Being salaried for at least 6 months, with no credit blemishes, are the traits of someone who can avail a refinancing loan with Loan Singh.
Read more about a credit card loan and how it is different from a personal loan
Loan Singh’s benefits towards a credit card financing personal loan
Before you jump on to the instant credit card financing personal loan bandwagon, keep in mind these personal loan related pointers. Let’s look at the benefits of applying for a credit card financing personal loan.
Before looking to apply for a credit financing loan, understand that although your debt would be wiped off, you will still be under the obligation to clear off the personal loan. Look at your spending patterns and how much cash remains with you after spending for personal needs towards loan EMI repayments. Budgeting is crucial.
- Swift processing
At Loan Singh, everything from application to disbursement happens online. With only Aadhaar, PAN and Bank statement/netbanking credentials, you can apply for a personal loan and pay for your emergency financial requirements.
- No collateral
Having no collateral requirement gives a personal loan an advantage over the secured loan. Even if you do not own any assets, you can at least get the funds from Loan Singh.
- Instant approval
If you provide your Aadhaar card, PAN card, and latest 6 months (netbanking downloaded, salaried account’s) bank statement, then you can almost surely get an instant approval. Your credit score needs to be good as well. For first timer credit applicants, the last 6 months statement is enough.
- Multiple purposes
An online personal loan can be availed for a number of purposes. The purposes of loan can range from the purchase of household appliances, credit card refinancing, electronic gadgets, debt consolidation, purchase of gold, holiday travel, instant emergency loan, home improvement, job relocation, medical expenses, home renovation, purchase of second-hand vehicles, to wedding loan, etc.
- Loan amount and tenure
The loan amount for a personal loan at Loan Singh can range from Rs.50000- Rs.500000. The repayment is done via EMIs, with interest rates on reducing balance method. The personal loan tenure can be from 3 to 36 months.
- Equated monthly installments
You can find out about the EMI amount you will be required to pay each month by making use of Loan Singh’s personal loan EMI calculator. You can avoid the default in EMI payments by providing Loan Singh with permission to auto-debit the EMI amount before the EMI repayment due date. Your personal Loan Singh dashboard allows you to track past EMI payments, pending EMIs and tenure remaining.
- Hassle free process
The personal loan process at Loan Singh is hassle-free because there is no hefty paperwork or running from bank to bank or filling multiple forms. You can apply for a personal loan right from your home and get the loan approved in just a few clicks.
- Information security
With Loan Singh being SSL (Secure Socket Layer) certified; all your personal and financial information submitted remains private and protected. You also don’t have to worry about the physical storage of approved documents or attested photocopies like in traditional lending processes.
- Prepayment penalty
At Loan Singh, you can clear a personal loan ahead of tenure and pay no prepayment penalty, unlike banks.
Loan Singh is a digital lending platform that prides in providing online and unsecured personal loans to salaried individuals. You can apply for quick funds as an easy emergency loan which is not a bank loan, but provide a loan with best personal loan interest rates. The instant funds, or instant loans, are small loans taken for purposes such as:
- Home improvement loan
- House repair loan
- Marriage loan or Wedding loan
- Medical loan
- Second-hand car loan
- Second-hand bike loan
- Consumer durable loan
- Vacation loan
- Credit card refinancing loan
- Job relocation loan
- Travel loan
- Festival loan
You can calculate your easy EMIs using our personal loan EMI calculator. We accept bank statement, PAN, and Aadhaar for quick loan approval. A bad credit score or credit report errors can lead to personal loan rejection. The ‘Loan Singh Blog’ is one of the best finance blogs in India.
Loan Singh’s Online Presence
Loan Singh is not an anonymous digital platform. We are present on almost all leading social media platforms. All you need to do is look for us. Some destinations you can find us on are:
- Loan Singh on Facebook
- Loan Singh on Twitter
- Loan Singh on Youtube
- Loan Singh Pinterest
- Loan Singh on Instagram
- Loan Singh Blogarama
- Loan Singh Google Review
- Loan Singh Medium Blog
- Loan Singh Reddit Blog
- Loan Singh Tumblr Blog
- Loan Singh Scoop It Blog
- Loan Singh Storify Blog
- Loan Singh Digg Blog
- Loan Singh Blogger
- Loan Singh Lymelight
Loan Singh in Latest News
The year 2017 had been a breakthrough year for Loan Singh. Mention of partnership with Airtel helped Loan Singh to work harder in the space of digital economy. Some snippets of Loan Singh can be found on…
- Owler
- Tech Circle
- Business World
- Money Control
- Live Mint
- Zeebiz
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