Salary Advances and Their Benefits

Today, everyone faces difficult financial situations where they suddenly find themselves strapped for cash and in urgent need of funds. This is quite common especially for salaried professionals, as most of them have a host of expenses to take care of. You might find yourself wanting for cash for a variety of reasons, the most common of them being an unforeseen expense or an unexpected cash emergency that you just didn’t see coming. This can be anything from a bill/loan payment, a sudden hospitalization, or having to send some money home to meet certain expenses.

In situations like these, you always look for a quick, convenient, and reliable short-term loan where you can avail the required funds so that you can tide over such difficult situations easily. One such solution is availing a Salary Advance. Since unexpected expenses can come up without a warning and at any time during the month, Salary Advances are a great solution for those who need funds for a short time period and at a reasonable rate of interest. The following are just a few of the many ways a Salary Advance may come in handy:

  1. Unexpected Emergencies: There’s no telling when you might find yourself in the hospital. In case of an accident or a sudden illness, Salary Advances can help you take care of a medical emergency when it happens. Similarly, in case you have to send money to your folks back home for a sudden need, or go home yourself, a salary advance can come in handy in such situations.
  2. Bill / EMI Payments: In case you’re short of funds to make your monthly loan payments, pay your credit card bills, or even if it’s a monthly mobile or DTH recharge, availing a Salary Advance is a good idea as it is short-term, and has a very reasonable interest rate.
  3. Everyday Expenses: Salary Advances also help you take care of your everyday monthly expenses when you’re out of funds because of a previous major purchase/cash expense that hit your budget.

Also, it is not necessary that you would require cash to only meet serious expenses. Sometimes you may find the need to do something fun for yourself or your friends and/or family, because of which you may require extra funds. A Salary Advance can come in handy in such scenarios, like the following:

  1. Planning a trip/vacation with your family and/or friends
  2. Gifting your loved ones on festivals or special occasions like birthdays, anniversaries, etc.
  3. Dining out with your loved ones on special occasions or even otherwise
  4. Buying match tickets for your favorite sporting events in your city
  5. Buying tickets/passes to music festivals or your favorite concerts
  6. Having cash so that you can shop whenever there’s a good online sale

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However, a word of caution – you must only avail a Salary Advance if you are in real need of funds. Sometimes you may want something and then think of taking a loan just because you don’t have the money. That’s when you take a call as to whether that item is a want or a need. In case it’s something you don’t really need, then you must save up till you can actually afford it. For everything else, you can always get a Salary Advance.

Speaking of Salary Advances, if you’re a young working professional, looking to avail one in a quick and hassle-free manner, head over to KreditBee. You can avail Salary Advances and Instant Personal Loans starting from ₹1,000 up to ₹ 2 Lakh. The funds are also credited directly to your bank account, and it’s an ideal solution for your urgent cash needs that come up without a warning.

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