Job relocation is a quantum leap of growth; a new workspace, a new home, a new environment, new city, and new people – all of it comes at once. And so, it may take you some time to settle down. But before the cash starts flowing in consistently, you can stay covered against all unexpected expenses with a personal loan.
When you are planning to move, make sure you take the following expenses into account:
- The security deposit of the new house
- Cost of transporting all the household items
- Travelling expenses
- A hotel stay, if the move-in gets delayed
- Shopping essentials for setting up a new home
- Start-up fees for utilities
- Realtor fees
The first thing that you need to do is estimate the cost of a corporate relocation. If you are moving with your family and have school going kids, then you also need to add the admission cost of a new school. While these are some of the expenses that can be foreseen, you will also uncover some expenses that are not on your list once you initiate the relocation process.
In such situations, applying for a collateral-free personal loan online is a quick and easy way to get the funds you need. And, if you are curious as to how much a personal loan will cost you, then you can use an online EMI calculator and get an idea of what you are getting into.
Here Are 4 Big Reasons to Rely on a Personal Loan for Corporate Relocation:
1. Instant Approval
Availing a personal loan for job relocation no longer needs you to go through the hassles of paperwork or wait for an approval. Personal loans are now easily available online. The entire loan application process can be completed in minutes and the approvals are instant.
2. Hassle-free Personal Loan Processing
The processing of an online personal loan can be completed on your smartphone with just a few clicks. The process involves zero paperwork and you can schedule the KYC documentation collection online.
3. Quick Disbursal
Once your documents have been verified and you receive the final approval, the loan is disbursed within a few days. Neither do you have to run around with the papers nor pledge collateral – everything can be done from the comfort of your couch.
4. Convenient Repayment Options
You can repay the personal loan in affordable EMIs over a convenient duration. The EMI amount is typically based on your loan amount, tenure and applicable interest rate. You can use this EMI calculator to know the possible monthly payments and the accrued interest and plan you repayments better.
Personal loans are becoming popular by the day because they are helping people keep their emergency fund and valuable assets safe. If you decide to use a personal loan to fund your relocation, you can consider MoneyTap.
MoneyTap’s line of credit works just like a traditional personal loan but you get the added benefits of a no-usage; no interest policy and the freedom to borrow as low as ₹3,000! You can also choose EMI tenures that range from 2-36 months and every time you repay, your account gets recharged by the same amount.
With MoneyTap’s credit line, you pay no prepayment penalty, interest is charged only on the amount you withdraw and you can use it as cash or card! So if you want to minimize your stress and maximize your savings in interest, MoneyTap is your best bet.
By Shiv Nanda from MoneyTap