Loans

Apply for a Personal Loan via WhatsApp

Now it is easy to apply for a personal loan via WhatsApp. Just provide few inputs and your Personal Loan Application will be approved. The new facility of getting a personal loan via WhatsApp is launched by WishFin. You can apply and get a quote from 17 banks instantly via WhatsApp Chat.

Personal loan is one of the most popular loan options. A personal loan can be taken for a variety of purpose like home renovation, marriage, travel, medical expense etc. It is also known as an unsecured or all-purpose loan. It generally takes time for applying and approving a personal loan. Sometimes it also requires a visit to the bank for in-person verification or form filling. To overcome the hurdle of applying for a personal loan and to get quick approval features of applying for a personal loan on WhatsApp is launched. You can compare various lenders and select a right loan at fingertips anytime, anywhere. Here is a step by step guide which will help you in applying for a personal loan.

personal loan

Apply for a Personal Loan via WhatsApp

Steps to apply for a personal loan via WhatsApp is given below.

  • Give a Missed call to 8130633535. You will get a message on your WhatsApp.
  • A chatbot will start asking questions. You need to answer the questions.
  • You need to provide your full name, email address, and date of birth.
  • Provide your monthly income, occupation, and a city of domicile.
  • Next is providing your company name.
  • Enter the required Loan amount.

After you apply on WhatsApp, you will receive a call from customer care executive for re-verification. Your application will be forwarded to respective bank and ensure that you will get fast approval. Once your loan application is approved you will receive confirmation on WhatsApp.

Also Read – 7 Emerging Business Loan Options

Top Banks providing loan via this method are HDFC Bank, ICICI Bank, Standard Chartered Bank, Kotak Mahindra Bank, Bajaj Finserv, RBL Bank, IndusInd Bank, Yes Bank, Capital First etc.

The rate of interest starts from 10.75%.

Advantages of applying for a personal loan on WhatsApp

  • Fast Simple and Hassle Free Process
  • Instant Approval without visiting Bank
  • Assistance in case of problem
  • Easy comparison
  • Multiple Options

Disadvantages of applying for a personal loan on WhatsApp

  • Terms and condition of loan is not known
  • Personal data is shared on WhatsApp which is security concern
  • Hidden charges and other charges are not clear
  • Loan application is limited to 17 banks
  • Process is not transparent and you may not get correct loan offer approval

I hope you are clear with process of applying a personal loan via WhatsApp.

Make sure to carry out your own research and study in case you decide to avail personal loan via above platform.

About the author

Raviraj Parekh

Raviraj is the man behind moneyalpha.com. He is graduate in finance, engaged in blogging since 6 years. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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