Features and benefits of Emergency Loan

  • High-value unsecured loan

    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.

  • Flexible repayment tenor

    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.

  • Flexi loan facility

    Flexi loan facility

    Pay interest only on withdrawals from a pre-set credit limit and reduce your outgo with our emergency personal loan facility.

  • Zero hidden charges

    Zero hidden charges

    There are no hidden charges on urgent personal loan from Bajaj Finance Limited. All terms and conditions are mentioned upfront.

  • Simple documentation

    Simple documentation

    The minimal document requirement for urgent personal loan ensures the quick processing of your application.

  • Disbursal within 24 hours*

    Disbursal within 24 hours*

    Bajaj Finserv offers instant loan approval and disbursal within 24 hours*.

  • Online application

    Online application

    The simple online application streamlines the process of meeting immediate financial emergencies effectively.

  • Pre-approved offers

    Pre-approved offers

    Bajaj Finserv customers can access pre-approved offers and expedite the application by submitting their names and contact details.

  • Quick processing

    Quick processing

    For urgent cash loan, eligible applicants can expect their loan application to be approved within 5 minutes*.

  • 24x7 online assistance

    24x7 online assistance

    Log in to customer portal- My Account to track the outstanding loan, monthly installments, and more.

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.

  • Nationality

    Nationality

    Indian

  • Age

    Age

    Between 21 years and 80 years*

  • Employment

    Employment

    Salaried individuals employed with a private, public or an MNC enterprise

  • CIBIL score

    CIBIL score

    Check your CIBIL Score for FREE

    More than 685

Documents required for an urgent personal loan

When applying for an urgent 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 of National Population Register/ NREGA job card
  • PAN card
  • Employee ID card
  • Salary slips of the last 3 months
  • Bank account statements of the previous 3 months
  • Piped gas bill
  • Pension order
  • Letter of Allotment of Accommodation Issued by Employer
  • Property / Municipal tax receipt
  • Utility bill
  • Real-time image / photograph
  • Ration card

Emergency loan interest rate

Avail a personal loan online at competitive personal loan interest rates starting from just 10% p.a., along with flexible repayment tenures. Even during urgent financial needs, make sure to review all terms and conditions carefully before proceeding with your loan application.

Wide range of emergency personal loans offered by Bajaj Finance

Bajaj Finance provides a variety of emergency personal loans to cater to different financial needs. Whether you're planning a trip, covering medical expenses, or funding education, our flexible loan options ensure you get timely assistance. If you're looking for an instant personal loan, Bajaj Finance offers quick approval and hassle-free processing.

Here are some key types of personal loans available:

Choose a suitable loan option and get quick financial support with Bajaj Finance.

How to apply for emergency loan online

Step-by-step guide to apply for a emergency loan:

  1. Click on ‘APPLY’ at the top of this page to open our online personal loan application form.
  2. Enter your 10-digit mobile number and the OTP sent to your phone.
  3. Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
  4. Now, click on ‘PROCEED’ to visit the loan selection page.
  5. Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
  6. Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
  7. Complete your KYC and submit your application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents

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 personal 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.

Also Read: Emergency Loan if you have a Bad Credit Record

Frequently asked questions

Can I use an urgent personal loan for any purpose? Target keyword - urgent personal loan

Yes, you can use an urgent personal loan for various purposes like medical emergencies, travel, home repairs, or education.

What is an urgent loan?

Loans that have a short application process and quick disbursal are typically called urgent loans.

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 to calculate interest rates on emergency loans?

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.

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.

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.

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

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 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.

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.

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