Everyone knows Personal Loan Agents that have loan guarantee cards in their pockets. There is always that one person, who is eager to get you a bank loan. They are the cash loan agents; more commonly known as the Direct Selling Agents or DSAs. They convince you that they are a sure shot way of getting a loan. When a financial emergency arises, you may be tempted to opt for a bank personal loan from dsa. After all, they handle all the operational facet of getting a bank loan. They take care of documentation, filing and pretty much all the leg work. But whether you will get a guaranteed loan or not is unsure. What is sure is that relying on personal loan DSA is not the best way of availing a loan especially when there are new-age platforms offering easy and online personal loan for salaried professionals.
Why You Should Not Rely on Cash Loan Agents When You Need Urgent Personal Loan
Here is a list of 5 reasons which would make you rethink the viability of taking a loan through the DSA.
1. Personal Loan DSA Lack Complete Information
Cash Loan agents often come prepared with a spiel which speaks highly of the product. Such gimmicks have no space for material essential for sound decision making. They are unaware of basics such as the payment terms or even interest rates. Their limited training does not prepare them for all your questions. This leads to doubts and uncertain terms and conditions.
On the other hand, with Credifiable, provides online personal loan for salaried professionals. It is a new age consumer lending platform, where all information is available easily. Terms and conditions, interest rates and even payment schedules. Just login and all information is handy upfront.
2. Bank Personal Loan from DSA is Just Another Channel
Even though their showmanship is admirable, the personal loan agents cannot actually sanction a loan. They can only forward your application on your behalf. Approval of the loan is bank’s decision which depends on your application, not agent. So even when you hire a personal loan DSA it does not ensure that your application will go through.
3. Personal Loan Agents Can Negatively Impact Your CIBIL Score
What many applicants don’t know is, CIBIL score takes a plunge anytime someone makes a credit enquiry. Agents submit applications to almost every bank and institution they have tie ups with. This results in multiple enquiries for your score leading to its fall.
Majority of newly minted professionals have thin credit history which suffers further due to this. So when you choose to take bank personal loan from DSA, you may just lower your chances of getting through.
CrediFiable provides online personal loan for salaried professionals even when they have limited or no credit history. Applying on our portal directly will save you from unnecessary hassle of multiple credit enquiries.
4. Cash Loan Agents May Cost You False charges
It is a fact that processing of personal loans does not require dispensing any cash up front. The bank deducts charges such as processing fee through account transactions. They often waive off other smaller charges. You can verify these charges from the bank statement.
Irrespective, it is common for a personal loan DSA to demand petty cash in the name of fraudulent charges. You can avoid such unnecessary expense if you ditch taking a bank personal loan from DSA and instead choose online personal loans. At CrediFiable, all you need to do is scan documents and upload them as part of your application.
5. Data Integrity Stays Intact with Online Personal Loan for Salaried Employees
Giving your loan application to cash loan agents or any personal loan agents means handing them your sensitive information. It includes your identity details as well as financial details. The security of which is solely based on the discretion of the agent. This poses the risk of identity theft and even cybercrime.
Instead, act smart. The online personal loan for salaried individuals as offered by CrediFiable, follows all security standards. And hence, keeps your information safe and secure.
Opting for CrediFiable, a new age digital lending platforms presents a solution. The convenience of the zero-hassle personal loan DSA model, but without the pitfalls. No commission, no legwork and no misleading pitches. Hassle free instant personal loan in 5 minutes.