Emergencies are unforeseen and can arise at any time, but not being prepared for one might cause a lot of stress on you and your finances. Getting a personal loan in such cases is the most preferred way to get instant financing. Hence, a lot of people opt for instant personal loans to tide through emergencies. The benefit of getting a personal loan is that the funds can be used to pay for all kinds of financial requirements. However, it is important to weigh your options when choosing a lender as factors like rate of interest, eligibility criteria, processing fee, etc. may vary from one lender to another. At Finserv MARKETS, you can avail a Bajaj Finserv Personal loan at lower interest rates, i.e. as low as 12% per annum.
Benefits Of Applying For A Personal Loan For Emergency
- Usage of funds: The loan can be used for a variety of reasons, especially when you require instant financing for debt consolidation, meet wedding expenses, or even to pay off hospital bills.
- Flexible repayment tenure: When you use a personal loan to cover hospitalization costs, chances are that the expenses might run into lakhs depending on the medical condition. With a flexible repayment tenure, you can make repayments as per your convenience.
- Affordable interest rates: The best part of getting a loan for an emergency is that the loan is offered at lower rates. However, the interest rate is based on several factors like your age, monthly income, credit score, etc.
- Easy loan process: You can apply for a loan online to get instant funds. The online application process is quick and easy; you just need to provide the required details and submit a few documents for loan verification.
- Instant approval and disbursal: Eligible applicants can get their loan approved almost immediately with the disbursal happening within 24 hours of loan approval. The funds can then be used towards your emergency requirements.
Personal Loan Eligibility
To avail a personal loan for an emergency, you need to fulfil the below loan eligibility criteria.
- To qualify for an instant loan, you need to be between 21-60 years of age.
- You must be an Indian resident to be eligible.
- Self-employed or salaried professionals are eligible to apply for a personal loan.
- The applicant must have a credit score of 750 and above to be eligible.
Documents Required
To avail a personal loan, a borrower must submit the following documents.
- Identity proof: PAN/Aadhaar card/passport/driving license
- Address proof: Aadhaar card/electricity bill/passport/rent agreement
- Bank account statement for the past 6 months
- Business existence proof: GST registration certificate/maintenance bill/electricity bill (for self-employed individuals)
How To Apply For A Personal Loan For Emergency?
Given below are the steps to apply for a Bajaj Finserv Personal Loan to avail immediate financing for your emergencies.
Step 1: Visit the Finserv MARKETS website or download the Finserv MARKETS app to start the loan application process.
Step 2: Enter your personal, financial, and employment details in the loan application form.
Step 3: Select the loan amount you require followed by the loan tenure.
Step 4: Now, submit the required documents with the application form for further verification.
Step 5: Once the loan gets approved, the loan funds will get disbursed in your bank account within 24 hours.
Before taking out a loan, you need to understand your financial needs. Do not avail more than what you require and ensure that you apply for an amount that you can afford to repay on time. When you plan on availing a loan, you need to consider aspects such as the interest rate, processing fees, and speed of the loan process to ensure you get the funds on time. Apply for a Bajaj Finserv Personal Loan at Finserv MARKETS today and get the loan amount disbursed within 24 hours post loan approval.
With the Finserv MARKETS app, you can apply for a loan online; the process is quick with minimal paperwork required. Eligible applicants can avail a high loan amount of up to Rs. 25 lakh. The loan funds can be used to cover a wide variety of financial requirements such as clearing debts, paying off bills, and for emergencies. You can make use of the personal loan eligibility calculator online to make sure you qualify for instant loan approval. Hurry!
