Millennials’ lives are not contained by their basic salaries. As a result, a cash crunch at the end of the month isn’t uncommon. Borrowing from parents could be an option, but that is usually the last resort. Borrowing from friends is an option too, but they’re likely to be in a similar economic condition. Infact, it’s not just millennials – almost every salaried person finds themself at the cusp of an economic crisis at the end of every month. The reasons can be varied. For some, the salary might be a week or two late, there may be a medical emergency in some cases. Even festival months can leave one high, but dry in the pockets.
For those finding themselves out of money at the end of the month, EarlySalary comes as the ideal respite during such tough times. EarlySalary’s cash advance offers loans of 5,000 INR to about 2 lakh instantly. The motivation behind such a model of borrowing was to provide an alternative for banks – which are often extremely selective in their lending, leaving many without realistic cash assistance. Considering banks do not give short term loans, EarlySalary is the ideal solution to tight monthly budgets. With 1 million downloads already on the Play Store, the successful of the venture is already obvious.
The new-age online platform
Earlysalary is a new age online platform, here to revolutionise the loan system in India. It uses a social credit system for evaluating the requests of it borrowers.
While signing up for the app, the user has to link his social media accounts – like Facebook, Linkedin etc – allowing the portal to get an authentic look at their profiles. It is recommended that the profiles be regularly updated as it will help generate a better social score – in turn easing the process to obtain a loan.
Additionally, if your credit score is good and repayments are on time, Earlysalary allows as many loans as you need in a year, with only a 5 day gap between two loans.
The application process is also simple as it seems – anyone can apply for a loan from within the comfortable confines of their home. After the first loan, all subsequent applications for borrowing are usually processed within minutes.
Akshay Mehrotra, Co-founder & CEO, adds, “coupled with a fast and secure application process, lightning speed decision making capabilities and precise data analytics, EarlySalary aims to ensure that the loan you apply for, is available as soon as possible.”
When are you getting started?
Earlysalary.com has a range of solutions – from direct cash to your bank, to school fees to be paid in EMIs, and even transfers to ecommerce wallets such as Amazon’s. Earlysalary credit can also used to pay for shopping on Big Bazaar and other portals. It honestly can’t get easier than this if you’re looking for that extra salary at the end of your month. Get your salary advance now!