Should you avail loan to repay your previous loan?

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We all live for dreams. We all live in hopes. Trust keeps us alive. Motivation keeps us marching forward. Objectives vary as varied are we as individuals. For someone, it’s a dream job; for someone else, it could be a business venture after leaving the job. For many, it is a home; for others, it may be a car. A top education to a lavish vacation. It could be anything and everything.

But do you know what is expected of them all? Money. They all cost us large sums. Them dreaming also means that we may not have all the needed money. But that is alright. W are not supposed to have the money for everything we may need. This leads to how the financial sector works. We borrow and spend. We take loans from family, friends or institutions.

While we repay them through the earnings through it (if applicable) or through other means, we can fail. Things do not always go as per plan. This is where personal loans come in.

What is a personal loan?

Banks and other financial institutions give loans for many purposes (home, education, car, etc.). One of the offerings is also called Personal Loan. These are loans taken for purposes that are not explicitly met by the limited options. In this case, you are also not required to disclose or prove the purpose intended to serve from this loan amount. Here you have the liberty to use the money in your way. Some examples are taking up instant loans for emergency medical purposes. To get an instant personal loan for a trip abroad, and so much more. Another benefit of personal loans is smaller repayment amounts that can be paid back over a more extended period.

When should you apply for a personal loan?

A personal loan comes with a lot of other liberties too. When you have the freedom to spend, you also have the freedom not to disclose. It saves one from a lot of documentation hassle. The Instant Loans come with no collateral security (you can get instant personal loans from PHOCKET without any collateral in minutes).

One can apply for personal loans for many reasons. Sudden unplanned expenditure can include medical, family events, education, home renovation, tourism, shopping, etc.

One of the many reasons is also paying off other loans. Generally, the number of loans increases due to different needs and lenders. It becomes complicated, cumbersome, and even expensive. We seldom wish that one lump sum is what we may get done with them all. This is where personal loans act as a magic wand. One personal loan can pay off many loans. However, it must be ensured that the cost of personal loans is not overly priced than other loans. (Get instant personal loans at an attractive interest rate from PHOCKET).

How to avail of a personal loan?

Now you can Get Instant Personal Loan sitting in the comfort of your home. You can download the PHOCKET app from the (Play Store — https://play.google.com/store/apps/details?id=com.phocket) or go to the PHOCKET website. Inserting your basic details like age, earnings, location & occupation will yield your eligibility and loan sanction amount.

There are essential documents required to upload online in PDF formats like PAN Card, AADHAR Card and photographs. Putting up all these details will make you eligible for an instant loan where you can modify the amount, tenure & EMI. And that is all. The PHOCKET team will process your instant loan directly into your bank account within minutes.

So now, whether it is an emergency, an unfulfilled desire, or removal of the hassle of multiple loans, PHOCKET’s instant personal loan is your way out.