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How to get instant finance for all kinds of crises

  • Highlights

  • Fund a financial crisis with a personal loan, credit card, etc.

  • Start investing in fixed deposits or mutual funds to meet a cash crunch later

  • A personal loan is a popular option to fund urgent cash needs

  • Apply for a personal loan online for faster approval

An emergency has the potential to knock you off your feet and, in all likelihood, requires ample funds to take care of. However, despite the urgency for funds, it is essential that you make financially sound decisions. This is important because it will most certainly have a cascading effect on your financial future.

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To make wise financial decisions, it is important for you to understand your funding options during a financial crisis. This will help you choose the best solution as per your needs and financial capability to repay. Here’s all you need to know.

Funding a financial crisis

A personal loan is the most popular go-to solution to finance emergency cash needs. Alternatively, a credit card is often used to fund financial needs when your bank balance is unable to do so. In this case, be aware of high interest charges in case you are unable to pay the dues within the next billing cycle. Easier repayment over a tenor of up to 5 years makes personal loans a more financially suitable option.

You can also cultivate the habit of investing in mutual funds and fixed deposits can also prove useful when you have a cash crunch. This is because you can not only gain from your earnings from these investments in your time of need, but also pledge the same for a loan against these investments or securities in case of a financial emergency. So, whether you are taking loan for higher education or funding a wedding in the family, you can choose from an offering of credit options.

With pre-approved offers from Bajaj Finserv, your loan amounts and card limits are already approved. All you need to do is simply provide a few basic details and discover your pre-approved offer.

Personal Loan for Medical Emergency

Option of pledging a security for a personal loan

While most personal loans are unsecured and do not require a collateral, you can also consider pledging an asset in order to get approval on your personal loan much more easily when your credit score is low. An asset as security helps the lender approve your loan application faster and allows you to enjoy a lower interest rate.

This collateral or pledged asset, whether gold or any other investment, can be easily regained once your repayment is complete. This is exceptionally useful when you need funds urgently. Pledging investments such as a fixed deposit, mutual funds, insurance policies or others as collateral can also be beneficial as you are not losing out on returns because of liquidation.

Advantages of availing a personal loan online

Most top lenders offer online application for personal loans. This facility can help you save time during an emergency with minimal paperwork, zero traveling time, and quicker approvals. These online facilities can be accessed from anywhere and at any time. This helps you avail funding and make wise financial decisions even while you are on your way to the hospital for a medical emergency or amidst any other financial crisis.

Bajaj Finserv offers online Personal Loans with instant approval and money in bank in 24 hours. You can also access your loan account online for added convenience. Additionally, you can enjoy the Flexi Loan facility on this Personal Loan, which allows you to borrow as you need and pay interest only on the used amount. With this facility, you can also choose to pay interest-only EMIs and repay the principal at the end of the tenor. This helps you meet unpredictable needs for finance with ease and reduces your repayment burden with additional cash flow during your chosen tenor.

To find an affordable personal loan, be sure use online tools like an EMI calculator to forecast your EMIs and choose the right loan amount and tenor. Use this information to not only fund your financial crisis, but also make sound financial decisions to manage your expenses and achieve your objectives hassle-free.

The content of this document is meant merely for information purposes. The personal loan features mentioned in this article are subject to updation, completion, revision, verification and the same may change materially based on policy revisions. For more details, please visit our Personal Loan terms and conditions page here.

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Personal loan for medical emergency: All you need to know

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