It is a good idea to budget your income and expenses, which helps you to be in good financial health. However, an emergency can take a toll on your finances, and you may find that your savings may not be enough to manage the expenses.
Situations such as unforeseen medical procedures, urgent trips for work or family needs, time-limited education or repair expenses and more may require more funds than you have on hand. In such cases, an emergency personal loan can be an ideal solution.
When time and convenience are of the utmost importance, you can count on offers like Bajaj Finserv Emergency Personal Loan which offers up to Rs. 25 lakh with instant approval and quick disbursement. To find out how to meet your urgent needs with an emergency personal loan, read on:
1. Meet the eligibility requirements to be eligible for the loan in no time
When you need funds for an emergency, you may not have time to go through a lengthy application process. Obtaining a Bajaj Finserv emergency personal loan saves you these hassles because you can easily qualify by meeting simple requirements. They include the following:
Your age must be between 21 and 67 years old *
You must be a resident citizen of India
Your CIBIL score must be 750 or more
You must be employed in a multinational, government or private organization
Your monthly income should match the minimum wage required depending on the city – this is usually Rs. 22,000 or more
2. Obtain funds without collateral and with a minimum of documents
The best thing about Bajaj Finserv Emergency Personal Loan is that you can apply without collateral. Not having to pledge any assets speeds up the processing as you don’t need to submit any asset documents and the lender doesn’t need to verify the details. With Bajaj Finserv, you can get approval by submitting a few readily available documents. They include KYC documents (Aadhaar card, Pan card, passport), recent statements from your bank account, the latest pay slips and proof of identity issued by your employer.
3. Apply online quickly and get approval instantly
Once you meet the eligibility criteria and gather the required documents for the personal loan, apply online with just a few clicks. You can get your loan approved within 5 minutes. This quick process helps you easily plan funds for your emergency needs. Just make sure to fill in your personal, business and financial information in the online form without any errors.
4. Obtain funds within a day to meet urgent needs.
After getting approved for an emergency personal loan, getting the funds into your account takes less than 24 hours. With such a quick disbursement, you can comfortably finance your emergency needs. Pay for a range of urgent expenses like hospitalization, marriage, tuition and more, without any hassle.
5. Easily plan and manage reimbursement online and on the go
Making the right decisions is essential for smart borrowing, even during busy times. Use the online EMI calculator to plan repayment and decide on the loan amount and term. Bajaj Finserv offers a competitive personal loan interest rate and an extended repayment term of up to 5 years. Using its handy digital calculator, you can calculate your EMI even on the go. This way, you can rest assured that paying off the loan in affordable monthly installments will not put a strain on your finances. Once you’ve dealt with your emergency, you can even make partial repayments at a nominal charge to get off debt faster and save on interest payments.
6. Use a pre-approved offer to qualify in minutes
With prior credit experience with Bajaj Finserv, you can gain access to many pre-approved offers that can significantly help you during an urgent cash flow crisis. The lender already has your full profile in such cases, so you don’t need to submit the usual documents. Simply choose the offer that meets your needs and get an emergency personal loan in minutes.
All of these features ensure that you can easily get fast emergency personal loan from Bajaj Finserv to meet big and critical expenses. Make sure you understand the cost of borrowing using the personal loan interest calculator. This not only helps you calculate economical IMEs, but also helps you understand the total interest you will be paying.
To enjoy greater freedom of repayment, use Bajaj Finserv’s Flexi function. By opting for the IME payment with interest only for the initial term, you can reduce your monthly payments by up to 45% *. This way you have enough time to reorganize your finances and cash flow. All you have to do is check your pre-approved offer and apply online.