Phocket - Instant Acess to Cash

Use medical loans to manage your medical emergencies. Low-interest rate medical loans are available from best lending apps in India. Pay for your medical expenses, including medicines, hospital bills, surgery, etc. The loan gets transferred into your bank account on the same day. With advanced technology and immense growth in the health sector you can avail best treatment for yourself. But rising medical costs can make it difficult to cover all the medical expenses. Medical Loans are a reliable finance option during the time of medical emergencies. If you are facing a medical emergency or need cash to cover your healthcare expenses, taking financial assistance is a wise option.

Life is full of uncertainties, and these uncertainties can be broken down into unplanned events, as small as expenses just around month-end when all cash is exhausted, and salary is still some time away. For instance or twice, when the event is known, and the amount is big, the office’s HR can be contacted, and advance salary can be taken. It is interest-free and free of headaches.

But there are some expenses like additional shopping, medical need or education which needs extra assistance. Or the company cannot be of help for numerous reasons. In such instances, the best personal loan offered by PHOCKET has an early salary benefit loan too. Let us explore the features of early benefits loans:

Less documentation — Unlike other kinds of personal loans, an early salary loan from PHOCKET needs less documentation as your earning capabilities are already demonstrated with salary documents, and possible credit is calculated.

Wide range — From as low as INR 10k to INR 2 lacs, one can avail best personal loan deals under the salary benefits head.

Fast processing — Instant online loan is the USP of PHOCKET with 24/7 loan processing and credit within hours.

Flexible payment options — With an EMI calculator one can choose what best EMI can be afforded given other payments constraint.

What are some ways in which an early salary loan from PHOCKET can be used?

1. As an education loan — If for yourself, spouse, or any other dependent, there comes a deadline or an awaited offer, it cannot be made to wait. Generally, they have payment deadlines for blocking seats. Such instant available personal loans could be of use.

2. For your vacation gateway — A long weekend or an instant gateway in the latter half of the month? Don’t say no and avail of Phocket’s instant online loan.

3. A medical emergency — The specified problem with a medical emergency is that they do not wait for a day. Today the medical bills have skyrocketed, and there is no credit that the hospitals, laboratories, doctors, or pharmacy gives. The same-day problem can be solved by getting an instant loan online backed by a salary.

4. As a shopping loan — Although specified credits are available in low or no-cost EMI or credit cards and should be availed when available. Although they are less useful when the shopping is instant or impulse. Let’s say a sale deal or a limited-period offer. Get an early salary loan from PHOCKET and use that as your shopping loan.

How To Apply For PHOCKET’s Early Salary Loan:

Here are the steps you need to follow to avail the loan:

Register: Download the PHOCKET app or register on our website filling in basic details

Get instant approval — Even before you blink, you will receive approval for the loan in seconds. Please proceed with uploading the KYC (Know-Your-Customer) documents on the app or the website

Choose the Amount — As the need may be, use the dynamic calculator given there to see the EMI cost by playing with the amount & tenure of the loan. Be the best judge!

EMI Calculation of the loan — EMI is the most significant part of deciding about availing of the loan. Thus, to help you plan the repayment, we have given the EMI calculator on the screen by doing the following:

Open the EMI Calculator given on screen.

Enter the loan amount you wish to take.

Choose the tenure for loan repayment as maybe best possible given your earnings and financial situation.

Enter the interest rate, and you will see the EMI.

Play with any of the inputs to modify.

There is a reason why weddings in India are called The Great Indian Weddings. It is a festival or bigger than that. Events span across days, and guests come and go on different dates. Many pleasantries are to be exchanged and everything has to be the best. Why? Because it’s a once-in-a-lifetime event.

As the stigma association has been, weddings are generally one of life’s most expensive affairs. Despite the amount of planning and wedding planners getting involved, unexpected expenses may arise anywhere at any time. Some examples could be changing vendors, getting invitation cards reprinted, outfit changes, additional inventory, weather damages to decorations, etc. In times like these, instant cash can be availed only through an online personal loan. The idea of availing a shopping loan is already a craze and the best offers can be checked out on PHOCKET’s website.

Organizing weddings is a task in itself and thus, event management has grown up to be such a big business. It is no longer an affair to be handled by family members. Intricate planning is required in all aspects, needing a lot of human force. While the bride and groom have a lot on their plate, PHOCKET avail a shopping loan that provides instant cash that can help relieve them of the financial tension. These can be helpful for any other kind of expenses arising out too.

Let us explore the features of availing a shopping loan for wedding needs:

Less documentation — Unlike other kinds of personal loans, shopping or wedding loans will be available on the earning documents of the borrower, like salary slips and bank account statements. PHOCKET’s advanced IT system can pre-calculate your sanction amount.

Wide range — From as low as INR 10k to INR 2 lacs, one can avail a shopping loan deals for the wedding bells to keep going on.

Fast processing — Instant cash is the USP of PHOCKET with 24/7 loan processing and credit within hours.

Flexible payment options — With an EMI calculator one can choose what best EMI can be afforded given other payments constraint.

Now we can look at the benefits of availing of a Wedding Loan:

Quick Access to Cash: There is no time nowadays to wait it out in the bank, definitely not during the middle of your wedding event. You can avail a shopping loan by going online from your smartphone or laptop.

Instant Approval: Once documents are submitted and Emi details are chosen, processing takes no time at all. You can complete the whole process within minutes.

No Asset Handed Over As Collateral: PHOCKET’s personal loan offerings are collateral-free. Thus, without putting any assets with the lender, you can get the instant cash.

Easy Repayment: EMI calculator helps you choose flexible repayment terms that are affordable and non-disruptive to your monthly budget.

Savings Remain Untouched: When you pay wedding expenses by getting an online personal loan, you keep your savings untouched for future use.

Who all are eligible for availing a shopping loan?

The criteria are relaxed and bare minimum, with a motive to help as many people as possible. Apply for your wedding loan online by checking your eligibility criteria. Do not worry; they are the bare minimum, as listed below:

Age — Older than 21 and younger than 55 years.

Occupation — Salaried or businessperson.

Income — For non-metro cities, a minimum of INR 15,000 per month. & for metro cities, a minimum of INR 18,000 per month.

Residence — Resident of India.

If you meet all the above three requirements, you are all set to avail a shopping loan online.

COVID-19, Long COVID, Dengue, Monkeypox, Flu, Weather Change, Heart Block…so on and on. The need for quick loan online availability and health insurance is of paramount importance. Human health is getting fragile day by day, and complexities are arising in a way never seen before. But as we know about how hospitals overcharge and non-coverage many expenses, health insurance cannot cover all expenses and the need for medical emergency loans is rising.

Medical emergencies ring the alarm bell on two fronts. First is the health of the affected person, and Secondly is the urgent cash needed at the hour to ensure proper treatment. The second, however, is most critical for the first. Only a quick loan online can help bail out. Many cashless hospitals may not have beds or solutions for the problem and the ones that do need cash before admission.

This is where medical emergency loan facilities can be a saviour. Quick loan online processing company PHOCKET provides Medical Emergency Loans with fast processing within minutes. The amount can be as much as INR 5 lacs depending on essential details like income, residence, age & CIBIL Loan score qualifications. Now apply for an instant medical loan online with a fully legal-compliant app, PHOCKET.

Features and benefits of a medical emergency loans

When we are at the hospital managing the situation, we seek assurance from the financial part at least to give our best attempt at recovery. PHOCKET’s Medical Loans are quick cash online solutions specially catered to help you out of this situation.

Benefits of medical emergency loans by PHOCKET

Instant Approvals:

PHOCKET’s team is online 24/7 to process emergency loan needs round the clock. After finishing the essential details, its algorithm gives out a CIBIL score loan which decides your maximum sanction amount that you can customize later.

Complete Online Documentation:

Long back gone are the days of printing, signing, and submitting. It is all online now. PHOCKET needs fundamental documentation, and they are to be uploaded on its website or app.

Pay as it best suits you:

Income differentiates so does expenditure. To make the best quick loan online experience, it is required that the borrower decides the repayment options rather than the lender fixing it. At PHOCKET, you can choose the EMI amount of time frame to repay your medical emergency loans, which significantly relieves your repaying capability and managing expenditures.

Loan EMI Calculator:

You are your best financial advisor if given the best tools at your disposal. PHOCKET’s website has calculators to get EMI amounts by changing loan amounts, interest rates, and time frames. Helpful enough to decide?

Speedy Disbursal:

We talked about instant processing above. What about the credit in your bank account? That is instant too. Once the loan is approved, the amount gets credited to your bank account immediately without waiting. Treatment cannot wait, so we will not let you stay.

Low-Interest rates:

Generally, such emergency loans are associated with heavy interest rates, e.g., Personal Loans, Credit Card Loans, etc. PHOCKET’s loans come with low and affordable interest rates, which will give you additional comfort in taking our help over others.

How to apply for medical emergency loans from Phocket?

Patients or their relatives whose expense crosses their Mediclaim, or medical insurance amount can avail of PHOCKET’s emergency medical loan facility. These are the steps to follow:

Register: Download the PHOCKET app or register on our website filling in basic details

Get instant approval — You will receive approval for the loan in seconds. Please proceed with uploading the KYC (Know-Your-Customer) documents on the app or the website. These documents are the bare minimum that is readily available.

Choose the Amount — As the requirement is, use the dynamic calculator given there to see the EMI cost by playing with the amount & tenure of the loan. Be the best judge!

EMI Calculation of the loan — EMI surpasses in terms of importance more than the loan amount does. And why not? Thus, to help you plan the repayment, we have given the EMI calculator on the screen by doing the following:

Open the EMI Calculator given on-screen.

Enter the loan amount you wish to take.

Choose the tenure for loan repayment as maybe best possible given your earnings and financial situation.

Enter the interest rate, and you will see the EMI!

Play with any of the inputs to modify.

Eligibility criteria and documents for medical emergency loans

Suppose it is instant and it is helping you out of emergencies. In that case, it must also be very liberal regarding eligibility. Let us see the basic eligibility criteria that will help you get a quick loans online from PHOCKET:

Age: Earning bracket age ranging from 21 to 58 years

Monthly Earnings: As low as INR 15,000 for rural and INR 18,000 for urban residents.

For Self-Employed: A minimum monthly earning of INR 15,000 with six months bank account statement

Income or Earning Proof: Bank account statement for the last 6 months

Documentation: Aadhar Card is the most desirable and useful for processing. In case of not having an Aadhar Card, use a PAN Card or driving license. That is all!

Getting instant personal loan come with neither the demand for collateral as security; nor do you have to disclose details of the purpose of the loan. The instant loan online are disbursed based on your profile. In addition to it, there are other benefits to it as well.

The biggest benefit is getting an instant personal loan is unsecured i.e., no asset needs to be put as collateral. Interest rates are as low as possible unlike the credit card or daunting instant loan rates banks used to charge. Even the repayment is flexible. The lender can repay the availed loan in between 6 to 36 months. It gets confirmed after matching the borrower’s requirements and the lender’s willingness. With minimum documentation and instant processing, an instant loan online are quite a hit with consumers.

But but but… Loans are liabilities that can both help you stay afloat and make you sink. Thus, there are important points to keep in mind before getting an instant personal loan. Let us have a look at them:

Deep dive into the need for getting an instant personal loan: Before you finally apply for the loan, evaluate why you need it in the first place in detail. Wear the devil’s hat and question it. Think from repayment, EMI, and interest perspective to test whether it is important. As questions like, is the loan for a sinking expense or a rewarding investment? Thus, you can measure whether the loan is needed or not.

Research Alternatives: Once you are clear about the need for an external fund. Think about other options which are not loans. For example, a credit card gives you up to 45 days of free credit if the bill is paid within the due date. Or salary advance that again has no charges. FD, RD, etc. are also not very costly to break. If an instant loan online is the only feasible option, check the market, different lenders, their terms, legality, and reliability. Just the promise of instant personal loan, best instant personal loan deals should not make you avail of it.

The Curious Case of Credit Scores & Debt Instruments: In our detailed blog on Why does a good Credit Score matter. How you can improve it?, you can understand in detail the workings of it. In brief, a credit score is the financial lifeline of any person, helping you get a cheap loan or making you devoid of availing of any credit. A credit score of above 750 is most desirable and paying back EMIs on time is a must. Thus, keep it in mind.

Lower the Credit Score, Higher the Interest Rate: Continuing the above point, there are many lending players out in the market to help the big pool of borrowers with poor credit scores. But everyone out there is to serve their purpose. These borrowers when providing credit in the name of an instant personal loan ask for a higher rate of interest as the risk is high. It is thus helpful to keep your credit score as high as possible, pay all bills in time and never borrow more than you can repay.

Check Interest Rates offerings: Being unsecured and thus, a higher risk category, instant loans online are anyway towards the higher end. This is in comparison to collateral-backed loans like housing. Even in this particular segment of instant cash loans, there are now many players. It is worth by all means to check which player is offering what rate of interest to help you make the best decision.

Eligibility Check Is Important: Although claimed to be more relaxed than a normal loan from a bank, it is better to check the website of lenders to know what all it asks for. Important areas are income and employment. It is also important to keep reliable documents ready to confirm your claim.

Important charges check, like Prepayment: Pre-paying loans are very critical in the instant personal loan space as it is associated with immediate spending which could get repaid also employing salary credits, etc. Pre-payment charges as they are called are allowed with some extra charges by the borrowers. It is better to get this clarified while taking an instant personal loan and minimize the charges as much as possible. It will help you save tremendously on the interest which otherwise you will then have to pay.

Applying For Multiple Loans Is Not A Good Idea - In our credit score blog, we mentioned hard queries and soft queries. Loans need hard queries and the more they are done, the lower the credit score goes. Thus, follow all the steps above, shortlist lenders and apply for one or two loans only.

View Your Credit Report in Microscopic View — Detailed credit score reports are very important for everyone to go through. It helps them know what is increasing and what is bringing the score down. Ensure that the details recorded in the report are correct or else report it immediately. One small error could negatively affect your credit score.

Wait It Out Before Re-applying — If by any chance your first instant loan online gets rejected, do not hurry for a re-attempt. The reasons for failure won’t change so it makes no sense in getting more rejections on your file. Wait it out for at least 6 months and improve upon the faults. Build your credit score and income stream. This will increase your conversion charges.

Gaming is no more a videogame hand-held device given from toddlers to school-age kids. It is a whole industry in itself. Do you know big companies like PAYTM and ace-investor Rakesh Jhunjhunwala-backed Nazara Technologies are big money spinners rising from India?

Globally, companies like Sony, Microsoft, Nintendo, and Tencent are billion-dollar revenue-earning companies from gaming. PlayStation, EA game FIFA, and XBOX are just big gaming setup names.

There are global competitions also being played, starting from the old days of a counter strike to modern-day-evolving games like PUBG, etc. The world needs more modes of earning and entertainment. And with rising VFX, technology, and creativity, gaming has gone a long way.

A gaming setup does not come cheap when we talk about leading brands and high-end experiences. It is worth the price paid if you ask any gaming fan. It is also a big puller in terms of house parties or friends chilling at home. Even to the extent of the status quo. With aspirations and needs as high as prices, there needs to be some sort of financial support that can help you put a gaming set-up in place.

PHOCKET’s short-term loans provide instant cash with an online application. Let’s read more about how instant cash loan can be used for gaming applications purchase:

Concept of instant cash Loan as Purchasing Loans — Although specified credits are available in low or no-cost EMI or credit cards, purchasing loans are still a new concept. They are more so unfeasible when the purchase is of such niche items and that too instant or impulse (as new models get sold out immediately). Let’s say a launch or a clearance sale offer. Getting an instant cash loan and using that as a loan to help gaming console purchase is a saviour.

Benefits of PHOCKET’s short-term loans:

Instant Approvals: PHOCKET’s team is online 24/7 to process instant cash loan round the clock. After finishing the basic details, its algorithm gives out a CIBIL score loan which decides your maximum sanction amount. You can then customize it.

Complete Online Documentation: Long back gone are the days of printing, signing, and submitting. It is all online now. PHOCKET needs very basic documentation like PAN & AADHAR. They are to be uploaded on its website or app.

Pay as it best suits you: To make the best instant cash loan experience, it is required that the borrower decides the repayment amount and number of EMIs rather than be dictated upon. At PHOCKET, you can choose the EMI amount of time frame to repay your short-term loans, which significantly relieves your repaying capability and managing expenditures.

Loan EMI Calculator: You are your best financial advisor if given the best tools at your disposal. PHOCKET’s website has calculators to get EMI amounts by changing loan amounts, interest rates, and time frames. Helpful enough to decide.

Speedy Disbursal: We talked about instant processing above. What about the credit in your bank account? That is instant too. Once the instant cash loan is approved, the amount gets credited to your bank account immediately without waiting. Shopping just cannot wait.

Low-Interest rates: Generally, such short-term loans are associated with heavy interest rates, e.g., Credit Card Loans. PHOCKET’s shopping loans come with low and affordable interest rates, which will give you additional comfort in taking our help over others.

What to keep in mind?

Loan affordability: The major question is, can you afford to take a loan, and also, is the need a must? Just because gaming is fun to have does not mean you will shelve out so much money for non-necessary things in life. There could be other priorities as well. Remember debts are there to help you and not to put you in more trouble. Do your financial cash flow check before taking an instant cash loan.

Your Credit Score: Loans both improve and sink credit scores. You must not take any short-term loans casually without planning properly else the CIBIL loan score can go for a toss. Pay little but on time and it will improve your credit score.

Alternatives: A credit card gives you around 45 days of interest-free loan by swiping a card that can be utilized fully. You can also explore PHOCKET’s SHOP NOW PAY LATER scheme and compare EMIs.

How to apply for an instant cash loan from Phocket?

When the gaming system model and console are decided and finances all calculated, you are all set to apply for short-term loans online. These are the steps to follow:

Register: Download the PHOCKET app or register on our website filling in basic details.

Get instant approval — You will receive approval for the instant cash loan in seconds. Please proceed with uploading the KYC (Know-Your-Customer) documents on the app or the website. These documents are the bare minimum that is readily available.

Choose the Amount — As the requirement is, use the dynamic calculator given there to see the EMI cost by playing with the amount & tenure of the instant cash loan. Be the best judge!

EMI Calculation of the loan — EMI surpasses in terms of importance more than the loan amount does. And why not? Thus, to help you plan the repayment, we have given the EMI calculator on the screen by doing the following:

Open the EMI Calculator given on-screen.

Enter the loan amount you wish to take

Choose the tenure for your instant cash loan repayment as maybe best possible given your earnings and financial situation.

Enter the interest rate, and you will see the EMI!

Play with any of the inputs to modify.

You are all set to receive the credit, buy the gaming set up, and go all guns, kicks, or shots blazing, all because of Phocket’s short-term loans.

The youth of India has higher inspiration and it does not want to settle down. That is despite still being far away from a high-level income country, it is the leading market for even companies like Google, Microsoft and Apple. Products especially like durables (mobile, TV, fridges, etc.) are seeing an uptick in the high end range sales. The trend is supported by various easy financing options like credit cards which can be turned into EMI, EMI offered by banks, short term loans, instant shopping loans, instant personal loans online and so on.

India’s leading online instant personal loan, short-term loan Fintech company PHOCKET has come out with another feature to its wide range of offers. Now you can avail “Shop now, pay later” feature on PHOCKET’ mobile app or website to avail zero-cost EMI without any processing fees. Like its “Early Salary Loan” offering, the approval is instant after cibil loan score check. Bonus: You do not need a card to avail this offer as well.

There are ongoing offers on Apple products like iPhone and Mac. Continue reading to know how to avail it:

Rise for demand of Apple products during pandemic:

The ongoing pandemic made a laptop and smartphone’s need inevitable. Whether a student or a professional, now daily life is impossible without it. So Apple and other durable good producers come up with a range of products in laptops, PC, mobile and watches.

Generally a long term investment, people aspired to hire and did not want to settle down. Heavy purchases came for such products with support from financial agencies who partnered with showroom and brands. PHOCKET is now your partner to make such purchases and taking shopping loans which you pay over in EMIs

2. Zero-cost EMI for aspirants:

PHOCKET offers zero-cost EMIs to people who have completed their KYC (know your customer) process online. Even customers with no credit history can avail the zero cost EMIs offer after filing the basic details.

Now you can aspire to buy your favorite phone, laptop, TV, or anything without having the cash ready. Avail PHOCKET’s Shop Now, Pay Later scheme and purchase.

PHOCKET’s new feature helps customers plan their finances, shop what is necessary and does not incur any extra cost or penalty.

3. Reasons to purchase products through PHOCKET’S Shop Now, Pay Later Scheme:

There are various benefits of purchasing any product on EMI through PHOCKET. We have mentioned some of them below:

Easy on Pocket: Buying something like a Mac by paying full amount can take a significant toll on your budget unless you have been saving for it. Plus other expenses can take a toll. Rather, paying via EMI helps that neither monthly budget or other expenses are affected.

Premium products are no more out of reach: Several products or brands just do not come at low cost, like iWatch, iPad, etc. EMI is the enabler between wishes and income that helps one take the leap needed to purchase the need, pay it off over time and does not compromise on either financial planning or wishes.

Save with 0% interest offer: The 0% interest offer makes you delay payments without interest charge. This rather enables you to save more money and not pay extra on the borrowing. Your savings bank account will earn interest on the amount you saved by not paying the full amount upfront.

How to avail the PHOCKET’s Shop now pay later scheme?

The process to get through the ‘Shop now, pay later’ scheme is easy breezy. It is completely virtual and extremely convenient. It does not need any manual intervention or expert support. You can just login on PHOCKET’s app or go onto the website and follow the steps.

Get your KYC done with PHOCKET

For availing any of PHOCKET’s loan offerings, you will need to have the digital KYC (know your customer) done. You can customize the repayment schedule as per your financial planning. The entire process is paperless and digital, which can be done over phone or laptop.

Steps to buy a product using PHOCKET’s Shop Now Pay Later Scheme

Checking your credit limit — You can sign in on PHOCKET’s app or website first. Then you can enter the basic required details. PHOCKET’s team will verify They need to verify their mobile number and get the process started.

Activating your account – Once you have your account active, you can proceed with submitting the KYC documents. You can also set up repayment for activating the credit limit.

Choose a preferred store for shopping — PHOCKET has partnered with various e-commerce platforms like Amazon, Flipkart or other merchant partners.

Customize your EMI schedule - Choose PHOCKET’s EMI as the payment method while checking out from the authorized partner. You will then have the option to edit EMI plans as per their convenience.

EMI is approved — The plan gets approved instantly and your order gets placed. Your product will be processed as usual with shipping as applicable.

Conclusion

We are in the time when EOSS i.e., End of Season Sale Kicks In. It was Eid a few days back and it will be Raksha Bandhan in the coming few days. Festivities like Raksha Bandhan are the biggest shopping drawers for Indians with heavy campaigns made around it (Cadbury being the biggest spender to replace Indian sweets). Even big-ticket products like Apple’s iPhone, etc. target the brother-sister bond for example.

One thing is sure that not just we Indians, but we humans love to shop. We Indians are very social, and tend to maintain very close and cordial family relationships over such events. Compromise is a no-no.

It is not always possible to have cash ready for such shopping's, unless planned. Maybe you can plan for an event pre-decided but what if someone’s baby shower came as an addition. Or someone got promoted in the family. Or a friend got engaged?

For all such happy moments, the happy hormones trigger out shopping spree and cash influx is immediately needed. Something like PHOCKET’s shopping loan which is 100% online and paperless, instant in minutes could be of use. Let us explore more about how such instant personal loan online can be of use to you:

Concept of Personal Loans as Shopping Loans — Although specified credits are available in low or no-cost EMI or credit cards, shopping loans are still a new concept. They are more so unfeasible when the shopping is instant or impulse. Let’s say a sale deal or a limited period offer, or an unknown invite or event happened. Getting an instant personal loan and using that as your shopping loan helps.

Benefits of Shopping loans:

Instant Approvals: Get Instant Personal Loan from Phocket. PHOCKET’s team is online 24/7 to process instant loans round the clock. After finishing the basic details you fill, its algorithm gives out a cibil score loan which decides your maximum sanction amount. You can then customize it.

Complete Online Documentation: Long back gone are the days of printing, signing and submitting. It is all online now. PHOCKET needs very basic documentation like PAN & AADHAR. They are to be uploaded on its website or app.

Pay as it best suits you: To make the best shopping loan experience, it is required that the borrower decides the repayment amount and number of EMIs rather than to be dictated upon. At PHOCKET, you can choose the EMI amount of time frame to repay your shopping loan, which significantly relieves your repaying capability and managing expenditures.

Loan EMI Calculator: You are your best financial advisor if given the best tools at your disposal. PHOCKET’s website has calculators to get EMI amounts by changing loan amounts, interest rates, and time frames. Helpful enough to decide?

Speedy Disbursal: We talked about instant processing above. What about the credit in your bank account? That is instant too. Once the loan is approved, the amount gets credited to your bank account immediately without waiting. Shopping just cannot wait

Low-Interest rates: Generally, such emergency loans are associated with heavy interest rates, e.g., Credit Card Loans. PHOCKET’s shopping loans come with low and affordable interest rates, which will give you additional comfort in taking our help over others.

What to keep in mind?

Can you afford the loan amount: and also if the need is a must? Just because instant shopping is available at a good interest rate should not lead you to do impulse shopping or over spend on things that you do not require. Remember debts are there to help you and not to put you in more trouble. Do your financial cash flow check before taking a loan.

Your Credit Score: Loans both improve and sink credit scores. You must not take any loans casually without planning properly else cibil loan score can go for a toss. Pay little but on time and it will improve your credit score.

Alternatives: A credit card gives you around 45 days of interest free loan by swiping card which can be utilized fully. You can also explore PHOCKET’s SHOP NOW PAY LATER scheme and compare EMIs.

With passing time and growing age, we aim for higher comfort and earnings. We spend more, invest more, consume more. It could be basic utilities (clothing) or dream buys (home, car). This motivation in terms of increase in standard of living motivates us throughout the earning grind. There are many such dream steps like home or car, or even a top education or luxurious vacation. It could be anything and everything.

But do you know one common thing in all these wishes/needs? Money. They all cost us large sums. Dreams are one we want to achieve in the future through a plan of action, to acquire the resources we need to get closer to the dreams.

After all, we are not supposed to have the money for everything we may need. This leads to the foundation of the financial sector. We borrow and spend. We take loans from family, friends, or institutions. While we repay them through our earnings or through other means like sale of assets or deferred income, we can fail. Things do not always go as per plan. This is where personal loans come in. And personal loans online application is reality now as well, which we will read about…

What is a personal loan?

Banks and other financial institutions give loans for many purposes (home, education, car, etc.) after checking your cibil score loan <<Read our article on the importance of credit score and ways to improve it>>. 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 same day online 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 apply online and get instant personal loans from PHOCKET without any collateral in minutes). It could be for shopping or even paying off other debts, other loans accumulated in one go.

Is it a good idea to take another loan to pay off existing loans?

One of the leading reasons why personal loans are taken is also paying off other loans. It could be borrowing from friends or families, credit card, bank, workplace, EMIs, etc. Generally, the number of loans increases due to different needs and lenders. It becomes complicated, cumbersome, and even expensive to maintain different calculations and may lead to higher pay out. We seldom wish that one lump sum to get rid of them all. As the famous saying goes, fighting one battlefront is always better than fighting five.

This is where personal loans act as a magic wand. One best deal loan can pay off many loans. However, it must be ensured that the cost of personal loans is not overly priced than other loans. You may calculate the EMI of a new personal loan on PHOCKET’s homepage and compare against the existing loan’s EMI. Make a wise decision yourself!

How to avail of an instant personal loan online?

Now you can get instant personal loans sitting in the comfort of your home. You can download the PHOCKET app 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.

The thoughts of same day loans generally scared people because they were targeted to the much needy and unplanned professionals. Trapping them in debt and milking interest after giving instant online is a thing of the past. Now planned, financially literate and helping fintech and legally approved start-ups collaborate to help solve emergency needs.

Why are instant, same day loans needed in the first place?

Money, with time, is being required more often for the events we did anticipate. Who thought COVID-19 would start off with a 2-week lockdown and take 2 years of your life? Who thought of the sudden need for smartphones for every member at home & a laptop for everyone at work so that they can do WFH? From the war to the price rise of essential commodities, uncertainty is the only certainty now.

Loans have always been the source of money that exceeds our savings. But loans from institutions rather than family or friends have always been associated with the complex documentation process, time delay, tedious process & uncertainty (here too!) of success. When the money world has come to smartphones for everything — payment transfer, account opening, KYC, etc.- why not getting an instant personal loan be on your fingertips too?

Here in walks, PHOCKET — your instant access to cash. It is now possible to get short term, best personal loans online with us. Let’s read about the way to get it:

What do you need to get an instant personal loan online?

Apply for a personal loan online by checking your eligibility criteria. Do not worry; they are the bare minimum hygiene factors! They are:

Age — Older than 21 and younger than 55 years

Income — For non-metro cities, a minimum of INR 15,000 per month & for metro cities, a minimum of INR 18,000 per month

Residence — Resident of India

If you met all the above three requirements, you are all set to apply for the best personal loan online.

What are the documents needed?

Since you are clear of the above eligibility check, you will need to upload the following documents online

Identity proof — Proof of Identification like Aadhar Card, PAN Card, Passport or even Voter ID

Residence Proof — To prove yourself a Resident of India, documents like Aadhar Card, PAN Card, Passport, Voter ID, Ration Card (as you can notice, most of these documents can be used for both purposes!)

Income Proof — Salary slip received from the employer for the last 3 months (it is not a mandatory requirement for some customers like those who are self-employed or in an unorganized sector where salary slips are not issued — we hear you :)

So now you know them all. Just scan & save the documents in PDF. Upload them in the necessary fields as you browse the online loan application page on our website or mobile application.

How To Apply Best Deal Personal Loans with PHOCKET?

As you have come till here, only your fingers & the internet connection are standing between you & your loan. You are both eligible & documents equipped. Here’s what you need to do now:

Register: Download the PHOCKET app or register on our website

Fill in the basic details (starters to begin with!)

Get instant approval — Even before you think, you will receive approval for the loan in seconds. Please proceed with uploading the KYC (Know-Your-Customer) documents on the app or the website

Choose the Amount — As the need may be, use the dynamic calculator given there to see the EMI cost by playing with the amount & tenure of the loan. Be the best judge!

EMI Calculation of the loan — EMI surpasses in terms of importance more than the loan amount does. And why not. Thus, to help you plan the repayment in advance, we have given the EMI calculator on the screen by doing the following:

Open the EMI Calculator given on screen

Enter the loan amount you wish to take

Choose the tenure for loan repayment as maybe best possible given your earnings and financial situation

Enter the interest rate, and you will see the EMI!

Play with any of the inputs to modify

Important things to keep in mind while deciding to go ahead with personal loans?

There are a lot of benefits with PHOCKET’s instant cash loan like:

No collateral

Attractive interest rates

Flexible Repayment Tenure

Minimal Documentation

No to minimum pre-closure charges

Borrow anytime

But we want people to be financially literate and make planned choices. Please consider the following pointe before proceeding:

Is the monetary need immediate or can it be delayed?

Are there other mediums of money like salary advance where no interest is needed generally?

Will I be able to pay off the additional interest burden?

Do I have a stable and good income stream?

How will it affect my CIBIL score loan?

Any other advice that your financial advisor may give?