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Rs. 40,000 - Rs. 55 lakh
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Key takeaways
An emergency loan is an unsecured personal loan for unplanned costs like hospital bills, urgent repairs, or last-minute travel. With Bajaj Finance, you can borrow funds ranging from Rs. 40,000 - Rs. 55 lakh and receive them within 24 hours* of approval.
- Interest rates range from from 10% to 30.5% per annum.
- Minimum CIBIL score of 650 required for approval.
- Follow a simple online application process using your mobile number, OTP, and digital KYC.
- Flexi Loan facility lets you withdraw funds as needed and pay interest only on the amount withdrawn.
- Explore loan options for medical, travel, wedding, home repairs, or any urgent expenses.
You can check your eligibility for a Bajaj Finance Personal Loan using just your phone number and OTP.
What is an emergency loan?
An emergency loan is a quick personal loan that helps you cover sudden, unplanned expenses — a medical bill, an urgent home or vehicle repair, or a last-minute travel need. It is collateral-free, so approval rests on your income and credit profile rather than any security. With a Bajaj Finance Personal Loan, you can get funds ranging from Rs. 40,000 to Rs. 55 lakh with disbursal in as fast as 24 hours* of approval. Repayment tenure ranges from 12 months to 108 months and the application process is online.
✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.
What are the features and benefits of an emergency loan online?
An emergency loan online provides quick access to funds with a fast, paperless application process, making it a convenient solution for managing unexpected expenses. The table below highlights the key features and benefits of Bajaj Finance Personal Loan:
| Feature | Details |
|---|---|
| Loan amount from Rs. 40,000 - Rs. 55 lakh | With a Bajaj Finance Personal Loan, you can get funds to manage both your large and small expenses without pledging any collateral. |
| Disbursal in 24 hours* | Receive funds in your bank account within 24 hours* of loan approval, making it suitable for urgent financial needs. |
| Flexible repayment tenure up to 108 months | Choose a repayment tenure from 12 months to 108 months, depending on your repayment budget. Pro tip: Longer tenures reduce EMIs but increase total interest, while shorter tenures save interest but result in higher EMIs. |
| Flexi Loan facility | Make multiple withdrawals from a dropline limit and pay interest only on the amount withdrawn with Flexi Loans. |
| Online application and support | Complete the entire application online through the website or mobile app, upload basic personal loan documents, and track your loan anytime using our customer portal, My Account. |
| Zero hidden charges | All fees, processing charges, and interest rates are disclosed upfront in the terms and conditions, ensuring complete transparency. |
What are the eligibility criteria to apply for emergency personal loan?
To qualify for an emergency personal loan from Bajaj Finance, applicants must meet eligibility for a personal loan as below:
| Criterion | Requirement |
|---|---|
| Nationality | Indian |
| Age | 21 years to 80 years |
| Employment type | Public, private, or MNC |
| CIBIL score | 650 or higher |
| Customer profile | Self-employed or salaried |
*You should be 80 years or younger, at the end of the loan tenure.
What are the documents required for an urgent personal loan?
The documents required for a personal loan from Bajaj Finance include:
| Document category | Accepted options |
|---|---|
| KYC proof | Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card |
| Identity proof | PAN card, Real-time image / photograph |
| Employment proof | Employee ID card, Letter of Allotment of Accommodation Issued by Employer |
| Income proof | Salary slips — last 3 months, Bank account statements — last 3 months |
| Others | Pension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt |
Check your eligibility for personal loan using just mobile number and OTP – 100% online process.
What are the interest rates for emergency loans?
You can get an emergency personal loan online from Bajaj Finance at personal loan interest rates ranging from 10% to 30.5% per annum. Even during urgent financial needs, make sure to review all terms and conditions carefully before proceeding with your loan application. The exact rate applicable to you will be based on factors such as your loan profile, eligibility, repayment terms, and so on.
Key charges applicable alongside the interest rate:
| Charge | Amount |
|---|---|
| Processing fee | Up to 4.13% of loan amount (inclusive of taxes) |
| Foreclosure charges | Up to 4.72% of outstanding amount (inclusive of taxes) — applicable for Term, Flexi Term, and Flexi Hybrid Term Loans |
| Part-prepayment charges | Up to 4.72% of principal prepaid (Term Loan only; not applicable for Flexi Term Dropline and Flexi Hybrid Term Loan) |
| Bounce charges | Rs. 700 to Rs. 1,200 per bounce |
Read about the complete list of fees and charges applicable on Bajaj Finance Personal Loan.
What are the things to consider while taking an emergency loan?
Perform these three checks before going ahead with your emergency loan application:
- Assess the expenditure: Estimate the full cost of the emergency, including follow-up costs. A hospital admission carries post-discharge medication and review consultations beyond the surgery bill itself.
- Determine the loan amount. Subtract what your savings can cover from the total. Borrow the difference, not the total. This is the figure to enter when applying through the emergency loan app.
Confirm you meet eligibility. Applications are approved only when the eligibility criteria are met and the documents are verified.
Also read: Emergency Loan if you have a Bad Credit Record
Can I get an emergency loan with a CIBIL score of 650?
Yes, you can get an personal loan from Bajaj Finance with a CIBIL score of 650 or higher. Approval depends on meeting all the eligibility criteria and verification of your documents. A higher credit score can improve your chances of approval and may help you access more favourable loan terms.
How can you improve your emergency loan approval chances?
Approval depends on your credit profile, income stability, and documentation quality.
- Pay existing EMIs and credit card bills on time to hold your CIBIL score at 650 or above
- Show a stable monthly income to demonstrate repayment capacity
- Keep existing debt low, since it directly reduces the amount you can borrow
- Submit complete and accurate documents, including PAN card and income proof
- Apply for a loan amount proportionate to your income
- Avoid multiple simultaneous loan applications, as each generates a credit enquiry
- Maintain consistent bank statements without frequent bounces
Following these steps can improve approval chances for emergency personal loans and help ensure faster processing.
Wide range of emergency personal loans offered by Bajaj Finance
Bajaj Finance offers flexible solutions through an urgent personal loan to help manage unexpected financial needs with quick approval and minimal paperwork.
Here are some key types of personal loans available:
- A travel loan to cover vacation expenses and make your dream trip a reality.
- A marriage loan to manage wedding costs without financial stress.
- A personal loan for higher education to support tuition fees and academic expenses.
- A medical loan for urgent healthcare needs.
A personal loan for home expenses to finance renovations or essential purchases.
Choose a suitable loan option and get quick financial support with Bajaj Finance.
Which loan options are best for urgent lending and borrowing?
For urgent borrowing, personal loans can be suitable options depending on your eligibility and funding needs. An unsecured personal loan may be preferable when you need quick access without pledging an asset. Whereas a secured personal loan can offer lower rates, but the process of collateral verification and approval may take longer. Compare interest rates, processing fees, repayment tenure and disbursal time before choosing. With a Bajaj Finance Personal Loan, you can get funds ranging from Rs. 40,000 - Rs. 55 lakh within 24 hours* of approval.
*Terms and conditions apply
How long does emergency personal loan disbursal take?
With a Bajaj Finance Personal Loan, you can get the funds you need for an emergency within 24 hours* of approval. This quick disbursal of funds makes it ideal for handling emergency expenses. You can also choose our Flexi variant, where you get a dropline limit and can withdraw from it as and when needed. Check your pre-approved loan offer using just your phone number and OTP.
How much does an emergency loan actually cost?
The worked example below shows how tenure changes both your EMI and your total interest on the same loan amount.
Indicative scenario: Rohan Mehta, 34, works at a private firm in Pune. His mother needs a cardiac procedure costing Rs. 5,00,000. He has Rs. 1,20,000 in savings and does not want to liquidate his fixed deposit. His take-home salary is Rs. 62,000 per month and he pays an existing Rs. 4,500 EMI on a two-wheeler loan. His CIBIL score is 712.
He applies for a Rs. 5,00,000 Term Loan and is offered 16% per annum.
| Parameter | 36-month tenure | 60-month tenure |
|---|---|---|
| Loan amount | Rs. 5,00,000 | Rs. 5,00,000 |
| Interest rate | 16% p.a. | 16% p.a. |
| Monthly EMI | Rs. 17,579 | Rs. 12,159 |
| Total amount repaid | Rs. 6,32,827 | Rs. 7,29,542 |
| Total interest paid | Rs. 1,32,827 | Rs. 2,29,542 |
| Debt-to-income ratio | 35.6% | 26.9% |
What the numbers show: The 60-month tenure lowers Rohan's EMI by Rs. 5,420 a month. It also costs him Rs. 96,715 more in interest over the life of the loan. That is the trade-off in plain terms — a lower monthly commitment (EMI) purchased with a larger total outgo (total interest paid).
Processing fee: At up to 4.13% inclusive of taxes (indicative processing fee), a Rs. 5,00,000 loan attracts up to Rs. 20,650, leaving a net credit of about Rs. 4,79,350. Rohan should therefore apply for an amount that accounts for this deduction, not the amount he needs in hand.
Which tenure Rohan should pick: At 35.6%, his debt-to-income ratio on the 36-month option is manageable but leaves limited room for a second shock. The 60-month tenure at 26.9% preserves more monthly headroom. Since he can make part-prepayments later (subject to charges), the longer tenure with early part-prepayment gives him both a lower committed EMI and a route to reduce total interest.
Disclaimer: The example and calculations are indicative, only for the purpose of illustration. Your actual rate, fee, and EMI will depend on your credit profile.
How to apply for emergency loan online?
-
Step-by-step guide to apply for a personal loan from Bajaj Finance:
- Check loan eligibility: Visit Personal Loan webpage - enter the loan amount you need and select the repayment period. Then click on "CHECK LOAN OFFER".
- Enter personal details: Enter your personal, financial, and employment details to receive a personalised offer.
- Loan offer: Review your offer details and adjust the amount or tenure to suit your needs.
- KYC verification: Complete your KYC and verify your bank details for disbursal.
- Talk to loan specialist: Your application will be submitted. An executive will contact you for the next steps in the process.
Should I use my home as collateral for an emergency personal loan?
You generally should not use your home as collateral for an emergency personal loan unless you have carefully assessed the risks and repayment capacity. An unsecured personal loan does not require property as security. With Bajaj Finance, you can get an unsecured personal loan ranging from Rs. 40,000 to Rs. 55 lakh within 24 hours* of approval.
*Terms and conditions apply
Explore emergency loans for all budgets
Key offerings: 3 loan types
Personal loan interest rate and applicable charges
Type of fee | Applicable charges |
Rate of interest per annum | 10% to 30.5% p.a. |
Processing fees | Up to 4.13% of the loan amount (inclusive of applicable taxes). |
Flexi Facility Charge | Term Loan – Not applicable Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes) |
Bounce charges | Rs. 700 to Rs. 1,200/- per bounce “Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason. |
Part-prepayment charges | Full Pre-payment:
Part Pre-payment
|
Penal charge | Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) | Payable as per state laws and deducted upfront from loan amount. |
Annual maintenance charges | Term Loan: Not applicable Flexi Term (Dropline) Loan: Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.
Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure |
| Credit guarantee scheme fee | Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount |
| Credit guarantee scheme renewal fee | Up to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year. *Renewal Fee to be collected only for 3 subsequent financial years. **If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated. |
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Frequently asked questions
Overview
Application
Tenure
Eligibility
Loans that have a short application process and quick disbursal are typically called urgent loans.
You can use an urgent personal loan for various purposes like medical emergencies, travel, home repairs, or education.
There can be multiple uses of emergency loans, such as medical expenses, house repairs and so on.
An emergency medical loan provides quick financial assistance for urgent healthcare expenses, with fast approval, flexible repayment, and minimal documentation to ensure timely access to treatment.
Any individual who meets the eligibility criteria set by the lender can get an emergency loan. With our pre-approved offers, borrowers do not have to check the eligibility criteria, since we provide the 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.
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 Finance website to more in detail.
Yes, some lenders offer an urgent loan without documents, especially to pre-approved customers, using digital verification and existing KYC details for instant processing.
With a Bajaj Finance Personal Loan, you can get the funds within 24 hours* of approval. Check your offer in just 2 steps and apply online to get our loan.
*Terms and conditions apply.
There are several fees and charges associated with a personal loan. Read about them here.
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.
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 ratio
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.
Some lenders may offer emergency personal loans without salary slips, depending on your income proof, bank statements, and overall eligibility. Alternative documents may be required for verification and approval.
Approval for emergency personal loans with a low CIBIL score may be difficult, as lenders assess credit history, repayment behaviour, income stability, and overall risk before offering loan approval.
Yes, many lenders provide online applications for emergency personal loans 24x7. Applicants can apply anytime, but approval and disbursal depend on verification and eligibility checks.
Maintain a good credit score, submit complete documents, and ensure stable income to improve chances of personal loan quick approval from lenders.
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Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000