Best Short Term Loan Providers in Chennai
Chennai as the capital of Tamil Nadu and one of the 4 metro cities in India is home to a large workforce of salaried professionals. With industries as varied as IT to manufacturing and an extensive governmental apparatus, salaried professionals in these companies have varied needs for personal loans. People require credit to meet needs to travel, pay deposits, purchase electronics, receive medical treatment, pay marriage expenses etc.
Short term loans with amounts ranging from Rs. 10,000 to Rs. 2,00,000 are the perfect solution for meeting these needs. Short term loans or short term finance are quick loans with fast processing times due to processes conducted online. They are given for a duration of 1 month to 12 months with the facility to pre-close the loan with zero processing fees at any time during the tenure.
Short term credit is ideal for people who are looking for smaller amounts not normally advanced by banks. They are also perfect for people who want to pre-close loans with no excess charge. There are also a large amount of people in Chennai who are not serviced by financial institutions like banks and NBFCs. These types of profiles include people with:
- Inability to get a loan from a bank as the amount is small
- Loan declined by a bank due to lesser salary
- Loan not granted by banks as company is unlisted
- Need to repay loan quickly without foreclosure charge
- Inability to get a loan because of zero or low cibil score or credit score
Short term loans in Chennai are arranged by Cashkuar using the peer to peer lending model. P2P lending is a source of crowdsourcing loans where investors with excess money band together to fund a borrower. The loans are given for a short duration and the interest is charged as a flat rate on a monthly basis.
So if you are hunting for 1 month, 3 month, 6 month or 12 month loans in the city of Chennai, click on the link below to apply for a short term peer to peer loan. The bets offer as per your eligibility will be calculated and processed upon acceptance by our executives. With advantages like zero pre-closure and faster processing times, this is the best option for your needs of short term credit.