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    You are at:Home»Business»Short Term Loans – A Great Option for Some Binge Spending

    Short Term Loans – A Great Option for Some Binge Spending

    Floyd ShermanBy Floyd ShermanOctober 10, 2025
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    Who doesn’t like some occasional indulgence? But, how does one loosen the purse strings, when one is short of money? Don’t worry. Short-term loans are here to give you a chance to indulge in some binge spending.

    Let’s now study some of the features of short-term loans that makes them ideal for the occasional, extravagant buys.

    Table of Contents

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    • Short Term Loans – A Great Option for Binge Spending
      • Unsecured products
      • Wide range of application
      • Easy eligibility criteria
      • Flexible tenure
      • Prompt approval
      • Loans to suit every budget (and wallet!)

    Short Term Loans – A Great Option for Binge Spending

    Short Term Loans

    Unsecured products

    Short-term personal loans are collateral free borrowing options that individuals can avail to fund sudden purchases. In an unsecured loan, one need not pledge any existing valuable assets. This is a huge relief. Unlike secured loans, one need not worry about losing ownership of one’s prized possessions in the event of a default or a delay in payment.

    Wide range of application

    One can avail such loans to buy consumer durables and home appliances for a new home or even to upgrade one’s lifestyle. The loans can fund diverse needs from binge shopping on jewellery and clothing to funding that extravagant home interior and furnishing you had always dreamed about.

    The lenders follow a ‘no questions asked’ policy when it comes to utilization of the loan amount. The loans can easily accommodate an impulsive, sudden buy as well as a planned purchase decision.

    Easy eligibility criteria

    A salaried individual, who is an Indian citizen, with a working tenure of at least 6 months, in the age group of over 21 years, with a good loan repayment capability is eligible to avail the loan.

    A good CIBIL score of over 750 can further aid in quicker loan approval. However, the applicant should not have any incidents of credit default or delay in loan repayment.

    Flexible tenure

    As the name suggests, these loans are for short duration, i.e., up to 3 months. Thus, one can conveniently plan one’s purchases and repayment schedule. Since the lending risk is lower for the lender, given the short tenure, the interest rates are attractive and competitive. One can bank on short-term loans without breaking the bank.

    Prompt approval

    With digital India becoming the new normal, the loan application and processing is completely paperless. One needs to log into the digital lending platform via one’s mobile or tablet and apply for the loan. Further, one can obtain speedy disbursal of online funds within 48 hours, upon approval of the loan application.

    The amount is directly credited into the bank account of the applicant. There is no requirement of physically visiting the office premises of the lender.

    Loans to suit every budget (and wallet!)

    The loan amounts vary from INR 50,000 to INR 10 lakhs. Further, using an online calculator one can determine the EMI repayment liability for a given loan amount and tenure. Thus, one can fund small purchases like garments as well as big ticket purchases like gold jewellery.

    In conclusion, instant personal loan is a boon to various types of shoppers. After all, one gets access to low-cost, instant finance that allows them to indulge in an occasional buying spree. So go ahead and shop your heart out! But remember, don’t make it a habit!

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    Floyd Sherman
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    Floyd Sherman is a Computer Geek, Internet Entrepreneur, Blogger, Day Dreamer, Business Guy, Fitness Freak, Music Lover and Digital Marketing Specialist. He also helps companies to grow their online businesses.

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