Why Was Credit Line a Solid Choice for Borrowers Amid COVID-19?
A credit line is a flexible personal cash reserve. A good digital company offers up to ₹2 lakhs at your disposal. The money is sent to your bank account instantly. You can draw any amount that suits your eligibility. The interest is usually charged on the used fund, not the overall approved limit. You may pack back within the following year. It works on a ‘revolving’ basis without applying for a new loan. The top Fintech introduced the ‘One Approval, Multiple Loans’ facility. This means you can receive one personal loan and many BNPL loans through the line of credit . Have a look at why this financial product gained momentum amid COVID-19.. Unsecured Loan A credit line does not require collateral. Do not have to pledge valuable assets like property, car, cash or stocks. It was a viable option during the pandemic since you could get a significant amount immediately without investments. The money could cover urgent medical requirements, which was the need of the hour. You may also...