“ Monexo is the best option for taking up a personal loan ”, says Loganathan.

04 September, 2019

By Aishwarya Raj

Loganathan, 28, works as a Senior Executive in Coimbatore, popularly called as the Manchester of South India. He lives with his mother & 2 brothers. Read on to know how Monexo helped him to repay his existing loan.

Orissa to Coimbatore

Loganathan was transferred from Orissa to Coimbatore for his work. But he was unable to take a transfer immediately because he had an outstanding vehicle loan for Rs. 1 Lakh taken from a bank in Orissa. The bank asked him to repay the loan before he left the city. So, he was stuck and needed urgent help. The vehicle loan was for an interest rate of 28% pa and a tenure of 3 years.

Hassle-Free process at Monexo

Loganathan turned to many banks for a personal loan but he didn’t opt them because of their longer processing time and higher interest rates. And that’s when his friend referred him to Monexo. Per Loganathan, “After talking to the Monexo consultant, and understanding how the process takes place, he decided that Monexo will be the best solution for him”.

He immediately applied for a loan of Rs. 1 lakh for a tenure of 3 years with the interest rate of 25 % p.a. He paid off his existing vehicle loan and his relocation to Coimbatore was stress - free. The best part was, he was able to save Rs. 5774 by transferring the loan to Monexo.

This is what Loganathan has said: “I am very glad about this quick and paperless loan process. I got the approval with just a click away, that too with such a user-friendly process. Generally, when we need to avail a loan, first we have to meet the bank officials, then have to undergo the document verification and hours of interactions, etc. So for all such activities, it nearly takes 3-5 working days. But with Monexo Fintech, I got my loan with an easy and digital process. I am really happy with the services delivered by Team Monexo and I can proudly say that I’m a happy customer. I will continue to transact with Monexo Fintech and of course, will share my fruitful experience with my friends and colleagues”.

Future Plans

He also says, “It’s really important for me to plan for our savings. Providing my family with financial security is an essential part of my planning. So, I have taken up an insurance policy which can benefit us in the future. I have also opened a savings account in a Post Office where I deposit money every month. The money I’m saving is, for my niece, which can be used for her future education. I have also invested some money in a land so that it helps with our future needs”

Monexo believes in helping people to overcome their difficulties and reach their financial goals. It makes the whole process of obtaining a loan quickly and easily. What are your financial goals and can we help you in any way?Feel free to apply for a loan at https://www.monexo.co/in/borrowers/salaried