Short-term Personal Loan: Know 7 Key Features and Benefits
                     
Unexpected expenses or necessities can occur at any time. However, when they 
occur, they can leave a huge dent in your money. Additionally, it has the potential to 
mess up your financial management.  
These unexpected needs could be anything. For example; paying for course fees, 
an unexpected medical bill, wedding costs, a dream vacation, purchasing a phone, 
a car, a business opportunity, or anything else.
For youngsters who have just started to live their lives on their own, facing financial 
hardship is nothing new. It could happen for any reason, and the crisis might just 
last a short while. To deal with that issue, all you need is a short-term solution to 
get you through the crisis. For that, leveraging short-term loans is the perfect 
solution.
However, make sure the process of obtaining a short-term loan is as easy, quick, 
and convenient as possible. Here are a few advantages of obtaining a short-term 
loan from the best loan agency in Ahmedabad.
What is a Short-term Personal Loan?
A short-term loan offers immediate support for a person’s financial needs. A 
short-term loan, as its name suggests, would normally have a brief tenure of 
between a few months and five years. 
Most short-term personal loans are also unsecured, so you will not have to put 
up any collateral to acquire the loan. Online short-term loans are available 
from a wide range of lenders, including banks and NBFCs. 
They frequently need little documentation, have low-interest rates, and are 
disbursed quickly. As a result, these online short term loans are typically an 
excellent solution for meeting eligible borrowers’ immediate cash needs.
7 Key Features or Benefits of Short-term Personal 
Loan
1. Swift Approval and Disbursement
One of the most appealing aspects of short-term personal loans is 
their speedy approval process. Unlike traditional loans, which may 
take weeks to process, these loans can be approved within a matter of 
hours. 
Once approved, the funds are typically dispersed quickly, allowing you 
to address your financial needs promptly.
7 Key Features or Benefits of Short-term Personal 
Loan
2. Flexibility in Loan Amount
Short-term personal loans offer borrowers flexibility when it comes to 
loan amounts. Whether you need a small sum to cover unexpected 
medical expenses or a larger amount for home renovations, these 
loans can cater to a wide range of financial requirements. 
This flexibility ensures that you can obtain the precise amount you 
need without overburdening yourself with unnecessary debt.
7 Key Features or Benefits of Short-term Personal 
Loan
3. Minimal Documentation
Getting a loan is no longer a painstaking process filled with lots of 
paperwork. 
Short-term personal loans typically require minimal documentation, 
making the application process hassle-free. 
This convenience is especially appreciated during emergencies 
when time is of the essence.
7 Key Features or Benefits of Short-term Personal 
Loan
4. No Collateral Needed
Unlike secured loans that require collateral, short-term personal loans 
are unsecured. 
It indicates that you are not required to use your property, such as your 
house or car, as collateral. 
This is a significant relief for those who may not have valuable assets 
to offer as collateral or are reluctant to risk their possessions.
7 Key Features or Benefits of Short-term Personal 
Loan
5. Repayment Flexibility
Short-term personal loans come with various repayment options. 
You can choose a repayment tenure that suits your financial 
situation, be it a few months or a couple of years. 
This flexibility enables you to manage your finances effectively 
and repay the loan comfortably.
7 Key Features or Benefits of Short-term Personal 
Loan
6. Improve Credit Score
Taking out a short-term personal loan can actually help 
improve your credit score when managed responsibly. 
Timely repayments and maintaining a good credit history can 
boost your creditworthiness, making it easier to secure loans 
in the future at better terms and interest rates.
7 Key Features or Benefits of Short-term Personal 
Loan
7. Versatile Use of Funds
The beauty of short-term personal loans lies in their versatility. 
You can use the borrowed funds for a myriad of purposes – from 
consolidating high-interest debts to funding a dream vacation, or 
even covering wedding expenses. 
These loans don’t come with specific restrictions on how the money 
should be used, giving you the freedom to allocate it according to 
your needs.
Documents Needed for Short-Term Loans
Here is a list of documentation you will be required to have when you 
apply for a short-term personal loan.
• Identification proof
• Age verification
• PAN card
• Proof of address (driver’s license/voter’s ID/passport/electricity 
bill/phone bill)
• Income evidence
Based on the terms and conditions of your preferred loan agency in 
Ahmedabad, there can be some additional document needs. Before 
submitting an application for a loan, be sure you have all the details on 
the required paperwork and eligibility.
Criteria for Short-Term Loan Eligibility
Here is a list of eligibility criteria to obtain a short-term personal loan
• Nationality: Resident of India
• Age range: from 21 to 65 years
• Annual Household Income: Rs. 3 lakh or Rs. 20,000 per month in 
salary (If you live in a metro city, it is Rs. 25,000)
• Employment Status: Salaried or self-employed
• Cibil rating: 650+ (However, a score of 700 or more would be 
preferable.)
*The actual eligibility conditions may differ depending on the lender.
Conclusion
Short-term personal loans offer a lifeline when you find yourself in 
financial turmoil. Their swift approval, flexibility in loan amounts, 
minimal documentation, and the absence of collateral requirements 
make them a convenient option. 
Moreover, the opportunity to improve your credit score and the 
versatility in the use of funds further enhance their appeal. When you 
need quick financial aid in Ahmedabad, consider reaching out to the 
AGIL personal loan provider in Ahmedabad. 
With speedy disbursement and minimal paperwork, we offer the Best 
Loan Services in Ahmedabad. Contact us at [email protected] to take 
advantage of our amazing services.
CONTACT 
US
+91 7845129623
[email protected]
www.agil.co.in
AGIL D – block 2003 
Westgate,
Near YMCA club, SG Highway, 
Ahmedabad- 380015
THAN
Kwww .agil.co.in
YOU