Small ticket loans are very beneficial in any financial emergency. If you have a small ticket loan facility, you will not have to take money from friends or family members. With this, you will also be saved from the loan approval process of the bank and you will get a loan in a very short time. It also does not have to swipe credit card and pay 2-3% interest every month. This type of loan is very useful under adverse circumstances, so through this article we are going to give you information about small ticket loan.
What is a small ticket loan?
Loans of Rs 1 lakh and below can be placed under small ticket loan. These types of loans are important for those who are borrowing for the first time. Also for those who need immediate money. You can also take a small ticket loan to meet your day to day needs.
How to take a small ticket loan?
If you are planning to buy a new smartphone for yourself, which costs 20 thousand rupees. You have 12 thousand rupees, but for the phone you lack 8 thousand rupees. In such a situation, you will now have two options. First, you can buy a cheaper smartphone or move your plan forward. At the same time, you can also consider the third option of taking a small ticket loan. You can borrow money for your need within a few minutes by selecting the loan amount and tenure and then uploading the relevant documents.
Why take a small ticket loan?
If you want to take a loan to meet your day to day needs, you can take a small ticket loan. These types of loans can help in creating credit history and you may soon be eligible for big loans like home loans.
- You can use small ticket loan to buy items like refrigerator, washing machine etc. You can also use this type of loan for home renovation and education.
- You can get this type of loan very quickly. The loan money gets deposited in your bank account in 10-15 minutes.
- The loan requires a minimum number of documents. You do not have to wait long for loan approval.
- You can get this loan without credit score also.
- Popular app based lenders offer small ticket loans ranging from Rs 10 thousand to Rs 2 lakh for a period of one month to 6 months. Small ticket loans are very beneficial for the youth of 20-35 years of age.
Get small ticket loan from these platforms
There are many platforms offering small ticket loans in the market. You can take a loan using any of these. These platforms are –
Incred offers personal loans, education loans, MSME business loans and even two-wheeler loans. It uses technology and data science to make the lending process easier.
MoneyTap offers a credit line. Banks issue credit lines of up to Rs 5 lakh without collateral. You can borrow a minimum amount of Rs 3 thousand to 5 lakh rupees and pay in easy EMI of 2 months to 3 years. Your credit limit will depend on the credit history.
My Loancare connects borrowers with lenders through the online loan market and helps them find the right loan product. You can use this loan in marriage, education and financial emergencies.
On this platform you do not require a credit card or credit score. You can easily avail loans from here for travel, buying furniture, fashion, education etc. and it can be used for e-commerce platforms like Flipkart, Amazon, Myntra, Make My Trip etc.
This platform provides short-term loans to working professionals. In this, you can take a loan ranging from Rs 5 thousand to Rs 1 lakh.
LoanTap offers unsecured personal loans. Such a loan does not require collateral or security except under certain conditions. With the help of this, you can take a loan ranging from Rs 50 thousand to Rs 10 lakh. The loan period is from 6 months to 5 years.
Such loans prove to be very helpful to meet the economic needs of students and people with weak economic condition. You can avail a loan in a very short period of time as compared to banks and other loans.