Finance Apps have a Millennial Mobile Moment

The popularity of finance apps amongst millennials has increased massively in recent times. Nowadays, with the increasing financial literacy of our country, the younger generation is focused on being financially independent. Most millennials resort to availing online finance to satisfy their wanderlust, follow their passion, or fund their higher education. Millennials are driven by energy and are always in search of new experiences for themselves. This is where availing online finance can prove to be extremely helpful for them. Millennials are more tech-savvy, and hence they rely on finance apps to meet their financial requirements rather than opting for conventional banking ways. Let us have a quick look at the major factors that have led to the increasing popularity of finance apps amongst millennials.

Time-saving process

Millennials like everything to be done quickly and conveniently. Thus, for the younger and tech-savvy generation, the idea of approaching traditional banks can often be unappealing. This is where finance apps can prove to be extremely helpful. With the help of finance apps, millennials can apply for a loan quickly and get the loan amount credited to their bank account within a short duration. Thus, the advent of digitization in the Banking and Finance sector has made loan application a hassle-free and quick process.

Simple documentation process

Millennials do not like heavy paperwork. In case of online lending through finance apps, the documentation required is minimal. Some of the leading financial institutions just ask for PAN card, address proof, and bank account details to process the loan application. Simple and paperless documentation process has further added to the increasing popularity of finance apps amongst millennials.

Customizable loans

The idea of getting things as per their requirement is quite appealing to the younger generation. Through finance apps, millennials also get the option to customize their loan according to their needs. In addition to that, they can also get an estimate of their monthly installment by using an online EMI calculator. They just have to enter the loan amount, rate of interest, and tenure in order to obtain a personalized loan quote.  Individuals can enter multiple combinations to check which loan structure suits them the best. Having an estimate of the monthly installments can help millennials plan their monthly budget wisely.

Collateral-free loan

With leading financial institutions, millennials can avail a collateral-free loan. Thus, they do not have to provide any security while availing the loan amount. Due to this, millennials can easily avail finance without holding themselves back.

Therefore, if you are a millennial looking to avail personal finance, you can consider making use of the Finserv MARKETS finance app for the same. With the help of the Finserv MARKETS app, you can avail personal finance at a competitive interest rate, less processing fee, low prepayment charges, and other favourable terms. This app is easy to use and can be downloaded on both Google Play and App Store. Smooth interface, secure transaction, and reliable customer service, are some of the major benefits of using the Finserv MARKETS app.

Now that you have a better understanding of the features of the Finserv MARKETS app, you should make the most of it to avail funds for meeting your financial requirements. You must evaluate your repayment capacity before applying for personal finance. This will help you make timely repayment of the loan amount without straining your finances.

Lastly, make sure that you read the terms and conditions of your loan agreement carefully. This will help you avoid any inconvenience in the later stage. In case of any query, you must not hesitate and seek the help of a financial advisor. This will allow you to make a well-informed decision. make a well-informed decision.

In association with FinServ Markets