Personal loans, Sept. 22 -- It is not unusual to suddenly require funds. You could have a wedding at home, an emergency, or need money for a home renovation. When applying for a loan, it is considered better to approach a bank or a large and reputable non-banking financial company (NBFC).

However, with the availability of a number of fintech apps, your choice of lender is likely to be influenced. If you want instant money in your account, you may want to opt for a fintech app instead of the long process of applying via a bank.

These are some of the situations wherein it is preferable to choose a fintech over a bank.

I. Instant money: Typically, you could opt for a fintech when you need an instant loan instead of waiting for a few days....