Updated: May 14, 2021 7:00:48 pm
An emergency can unsettle your finances at a drop of a hat. An unplanned medical treatment or emergency repairs for your home can disrupt your budget and strain on your income.
When you need access to funds without any hassle, consider a personal loan for emergencies. As an unsecured loan offering, you can get the money you need at a moment’s notice.
Read on to know what an emergency loan can offer and why it is emerging as a popular solution for your urgent needs.
You can apply online for quick access to funds
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The best feature about an emergency loan is that you can apply for it online from the comfort of your home. The personal loan application process is easy to complete and you can get approval on your application.
You only have to meet the personal loan eligibility criteria mentioned on the lender’s website and submit your basic documents. This way, you can meet urgent requirements in no time, without spending too much effort on application and other procedures.
You have to tackle minimal paperwork for faster approval
Document submission can be stressful if the lender requires too much paperwork, especially when you are pressed for time. That is why lenders such as Bajaj Finserv offer an instant personal loan that only needs minimal paperwork such as your id proof and income documents.
This makes the submission process quicker and leads to faster verification. Since the loan is collateral-free, you don’t need to submit any documents as security! This also reduces the approval timeline.
You can get money in the bank within a short time
Due to its simple terms, lenders disburse a personal loan for emergency quickly and directly to your bank account. Thanks to this, you can tackle emergencies in a timely fashion and without any hassles. You can get the Bajaj Finserv Personal Loan in just 24 hours from online approval, which takes just 5 minutes when you qualify for the loan based on simple eligibility terms.
You can access a high-value sanction in a flexible way
With this quick emergency loan, you can access a high-value sanction. Depending on your profile, Bajaj Finserv may offer you up to Rs.25 lakh as a personal loan for salaried employees.
Moreover, by choosing the Flexi Loan facility on the Bajaj Finserv Personal Loan, you can withdraw funds multiple times based on your requirements and pay interest only on the utilised amount. This helps you address unpredictable needs during emergencies with ease and more affordably too. Further, you can choose to pay interest-only EMIs for the initial period of the tenor to free up cash to meet other pressing needs. This helps you reduce your EMIs by up to 45%*.
You can repay the loan comfortably after tackling your immediate needs
Compared to using a credit card, which requires you to repay the borrowed amount within a short window or charges high interest when you fail to repay on time, a personal loan usually gives you 1-5 years to repay comfortably. This helps you manage your EMIs with ease and allows you to address the emergency without stress. For instance, you can repay the Bajaj Finserv Personal Loan in up to 60 months.
With easy access to finances available in an instant, you don’t need to worry about dipping into your savings. All you need to do is have a good CIBIL score and meet the eligibility parameters to get a competitive personal loan rate of interest.
To explore your options now, check your pre-approved offer from Bajaj Finserv by entering just three details. This will further speed up your chances of getting quick approval on a cost-effective emergency loan.
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