Features and benefits of Emergency Loan
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High-value unsecured loan
Enjoy collateral-free personal loans of up to Rs. 40 lakh. Meet any financial emergency without any hassles because there are no restrictions on end-use.
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Flexible repayment tenor
Choose a convenient repayment period extending up to 96 months. Use our onlineEMI calculator for personal loans to estimate your instalments.
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Flexi loan facility
Pay interest only on withdrawals from a pre-set credit limit and reduce your outgo with our urgent cash loan facility.
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Zero hidden charges
There are no hidden charges on urgent personal loan from Bajaj Finance Limited. All terms and conditions are mentioned upfront.
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Simple documentation
The minimal document requirement for urgent personal loan ensures the quick processing of your application.
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Disbursal within 24 hours*
Bajaj Finserv offers instant loan approval and disbursal within 24 hours*.
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Online application
The simple online application streamlines the process of meeting immediate financial emergencies effectively.
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Pre-approved offers
Bajaj Finserv customers can access pre-approved offers and expedite the application by submitting their names and contact details.
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Quick processing
For urgent cash loan, eligible applicants can expect their loan application to be approved within 5 minutes*.
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24x7 online assistance
Log in to customer portal- My Accountto track the outstanding loan, monthly installments, and more.
What is an emergency loan
When you need an urgent loan online, to manage unexpected funds, emergency loan can often be the solution. It is a regular loan which you can use to manage your urgent expenses.
Financial emergencies can arise at any time. Secure yourself during such times with an emergency loan from Bajaj Finserv. Avail of a high-value personal loan of up to Rs. 40 lakh against easy-to-meet eligibility criteria. Complete your documentation in minutes and get quick access to the funds you need.
Apply online today and enjoy the host of benefits of an emergency loan.
*Conditions apply
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Things to consider while taking an emergency loan
- Assessing expenditures: The initial step involves evaluating the potential costs associated with the specific emergency. This assessment will help you gauge the level of financial support you might require in the event of an emergency, typically through an urgent cash loan.
- Determining loan amount: After you've scrutinized your expenses, it's important to figure out how much you can manage to cover with your existing savings. This calculation will enable you to decide the exact loan amount you should request when applying for an emergency loan.
- Meeting eligibility requirements: Before proceeding with your emergency loan application, make sure to carefully review and comprehend the eligibility criteria set by the lender. Your loan application will only be approved if you meet the lender's specified eligibility conditions.
Eligibility criteria to apply for urgent cash loan
Bajaj Finserv requires applicants to meet certain eligibility criteria to qualify for an emergency loan:
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Nationality
Indian
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Age
Between 21 years and 80 years*
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Employment
Salaried individuals employed witha private, public or an MNC enterprise
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CIBIL score
Check your CIBIL Score for FREE
More than 685
Apart from meeting Bajaj Finserv’s simple eligibility parameters, ensure you submit all the documents required to get instant approval on your personal loan application.Existing customers can check their pre-approved personal loan offers when they need money urgently and get the funds in their bank account in just a few minutes.
Read more about the documents required for Insta Personal Loan.
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Documents required for an urgent personal loan
You may need the following documents when you apply for our urgent cash loan:
- KYC documents:Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
Interest rates and charges applicable on emergency cash loan
Bajaj Finserv offers personal loans at competitive rates to help you manage your loan repayment.Please ensure that you read all the terms and conditions carefully before you avail of your loan even when you need money urgently.
How to apply for urgent cash loan online in an emergency
Getting an urgent Personal Loan from Bajaj Finance Limited is simple. You only need to follow the steps below.
- Go to our Insta Personal Loan page and click on ‘CHECK OFFER’
- Enter your 10-digit mobile number and OTP
- Go with the pre-assigned limit or choose a different loan amount
- Choose a repayment tenure that suits you best
- Click on ‘PROCEED’ to complete the online process
The online process may differ depending on whether you are a new customer or have an existing relationship with us.
What to do when you need money urgently?
Follow the below instructions if you need funds immediately:
- First, assess your financial situation to determine the exact amount you need and your ability to repay it.
- Next, research different lenders to find the best terms, interest rates, and repayment options. Ensure you understand all fees and charges involved.
- Prepare all necessary documentation, such as proof of income and identification, to expedite the application process. Be aware of your credit score, as it can affect loan approval and interest rates.
- Finally, borrow responsibly and only what you can afford to repay to avoid financial strain.
Frequently asked questions
How to calculate interest rates on emergency loans?
Salaried individuals are advised to check out the online EMI calculator.Enter the tenor, interest rate, and loan amount. This will evaluate the exact interest payable on monthly instalments.
What are the factors that affect interest rates on emergency loans?
Interest rates for emergency loans depend on the lender’s terms and policies. Some of the factors that affect interest rates in general are:
- Credit score
- Repayment history
- Income
- Debt-to-income ration
How to check the emergency or personal loan eligibility?
The eligibility criteria for an urgent cash loan differ from lender to lender.In the case of our Insta Personal Loan, you do not have to check the eligibility criteria, since we extend pre-approved offers only after assessing the creditworthiness of borrowers.
How to reduce the burden of EMIs on emergency loans?
You can negotiate with the lender to get a better deal on the interest rate, which can reduce your EMIs. You can also opt for a longer tenure, where your EMIs are reduced. Please note that choosing a longer tenure may mean that you end up paying more overall interest.
Can I get an emergency loan of Rs. 50,000?
Any individual who meets the eligibility criteria set by the lender can get an emergency loan. With our Insta Personal Loan, borrowers do not have to check the eligibility criteria, since we provide pre-approved offers after checking their credit scores, repayment history, and other factors.
Can I get an instant personal loan of Rs. 30,000?
If you are looking for a Rs. 30,000 personal loan, just check if you have a pre-approved offer from us. You need to just enter your mobile number and OTP to check your offer.
What is an urgent loan?
Loans that have a short application process and quick disbursal are typically called urgent loans.
Can people with low credit scores avail emergency loans online?
Depending on the lender, there is a minimum credit score required to get emergency loans online.
Is it possible to foreclose or prepay a personal loan for an emergency?
Yes, it is possible to foreclose or prepay a personal loan for an emergency. Do note that there are foreclosure and part-prepayment charges that may be applicable.
What are the uses of emergency loans?
There can be multiple uses of emergency loans, such as medical expenses, house repairs and so on.
How much time does it take to get an emergency loan approved?
At Bajaj Finance Limited, we provide quick approval on your urgent personal loan requirement.You may also have a pre-approved loan offer. All you need to do is enter your mobile number and OTP to check your offer.
What are the fees and charges for emergency personal loans?
There are several fees and charges associated with a personal loan.
What is the disbursal timeline for an emergency loan?
Our personal loan is usually disbursed within 24 hours*. If you have a pre-approved offer, our Insta Personal Loan is disbursed within 30 minutes* to 4 hours.
*Terms and conditions apply
How can I secure a loan when I need money urgently?
Here is how you can get our urgent personal loans:
- Click on ‘APPLY NOW’ button on this page.
- Enter your 10-digit mobile number and OTP.
- Fill in the application form with your basic details and ‘PROCEED’
- Enter the loan amount and tenure that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
- Complete yourKYCand submit your application.
What is the smallest amount you can get as a loan when you need money urgently?
Our personal loan ranges from Rs. 20,000 to Rs. 40 lakh.
Can I get approval in 5 mins if I need a personal loan urgently?
Getting approval for a personal loan in 5 minutes* is uncommon. But lenders like Bajaj Finance Limited are offering personal loans which will be approved swiftly. Lenders verify your creditworthiness, financial information, and other factors before approving your personal loan application.
How can I get money urgently?
You can get the funds urgently by applying for our Insta Personal Loan. Just follow the below steps:
- Visit the Insta Personal Loan page and click on ‘CHECK OFFER’.
- Enter your 10-digit mobile number and OTP.
- Go with the pre-assigned limit or choose a different loan amount.
- Choose a repayment tenure that suits you best.
- Click on ‘PROCEED’ to complete the online process.
The online process may differ depending on whether you are a new customer or have an existing relationship with us.
Can I get approval in 5 mins if I need a personal loan urgently?
While some lenders offer quick approvals, the actual time varies. Online applications can streamline the process, potentially providing approval within minutes, depending on the lender's policies and verification procedures. You can check personal loan page on Bajaj Finserv website to more in detail.
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