Features and benefits of Emergency Loan
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High-value unsecured loan
Enjoy collateral-free personal loans of up to Rs. 55 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 online EMI 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 Account to track the outstanding loan, monthly installments, and more.
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 emergency personal loan
To qualify for an emergency personal loan, applicants must meet eligibility for a personal loan set by Bajaj Finserv. Additionally, submitting the required documents ensures quick approval. Existing customers can check their pre-approved offers and receive funds within minutes.
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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 with a private, public or an MNC enterprise
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CIBIL score
Check your CIBIL Score for FREEMore than 685
Documents required for an urgent personal loan
When applying for an urgent personal loan, ensure you have the necessary paperwork for quick approval. The documents required for a personal loan typically include identity proof, address proof, income proof, and bank statements.
- 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 loan at low interest rate 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.
Step 1: Go to our Insta Personal Loan page and click on ‘CHECK OFFER’
Step 2: Enter your 10-digit mobile number and OTP
Step 3: Go with the pre-assigned limit or choose a different loan amount
Step 4: Choose a repayment tenure that suits you best
Step 5: 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.
Frequently asked questions
Loans that have a short application process and quick disbursal are typically called urgent loans.
There can be multiple uses of emergency loans, such as medical expenses, house repairs and so on.
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.
To determine the interest on an emergency loan, use an interest calculator by entering the loan amount, tenor, and applicable interest rate. This tool provides an accurate estimate of monthly EMIs and total interest payable, helping you plan better.
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.
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.
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 your KYC and submit your application.
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.
Our personal loan ranges from Rs. 20,000 to Rs. 55 lakh.
There are several fees and charges associated with a personal 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
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
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.
Depending on the lender, there is a minimum credit score required to get emergency loans online.
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.
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.
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 or an emergency loan app 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.
