5 reasons why it makes sense to avail an instant loan during an emergency

Thankfully, you can always rely on alternate financing options like the emergency personal loan. Today, offerings like the instant loan grant easy access to a personal loan in a few minutes.

By Aalok Sensharma
Mon, 28 Feb 2022 01:54 PM IST
Minute Read
5 reasons why it makes sense to avail an instant loan during an emergency

New Delhi | Jagran Brand Desk: Emergencies are part and parcel of life, and you may not always have a contingency fund in place to tackle them. Regardless of the nature of the emergency, you will need funds on short notice, and many often resort to their savings. This isn’t the best approach for two reasons:

1. You may not have sufficient money for the emergency

2. It can leave you financially vulnerable for a long time

Thankfully, you can always rely on alternate financing options like the emergency personal loan. Today, offerings like the instant loan grant easy access to a personal loan in a few minutes. These come in handy when you need urgent funds and with proper planning, such loans can be a cost-effective solution. To know why you should avail of an instant loan from home to meet an unplanned emergency, take a look at these pointers.

Qualifying for an emergency personal loan is easy

New-age lenders have made it much easier to get an instant loan as many no longer require you to meet a long list of criteria. In general, you may be required to meet simple terms related to your:

  • Age
  • Annual income
  • CIBIL score
  • Citizenship
  • Employment

Applying for an instant loan can be done online

Thanks to digitalisation, you can now avail a range of financial instruments online. This includes the emergency personal loan and leading lenders will have a digital provision you can benefit from. In general, all you have to do is:

  1. Visit the official loan webpage
  2. Fill the online application form with basic details
  3. Verify your identity
  4. Upload the required paperwork
  5. Apply and wait for approval

In just 5 steps you can get an instant loan online without having to go to the branch, provided that you meet all the loan criteria and have a stable financial profile.

Accessing a loan up to Rs. 25 lakh requires minimal effort

Emergencies often require a significant amount of money. For instance, in a medical emergency, you will have to pay for immediate treatment and hospitalisation as well as medication, and post-treatment care. Very rarely will it be just a single expense and you can be prepared for anything that comes your way with the right loan. Some lenders offer an ample sanction, which can go up to Rs. 25 lakh. This amount can help you address most emergencies without any compromises.

Planning for affordability is simple with a personal loan interest calculator

Planning your loan is very important, even if you are dealing with an emergency. With digital tools like the EMI calculator, this process is much quicker and easier too! All you have to do is enter the values for the sanction, interest rate and tenor. The calculator will then compute the results. This simplicity allows you to tweak the values for the sanction or the tenor and find EMIs that fit your budget. As such, you can tailor it for affordability to get through the emergency without burdening your finances.

Getting pre-approved offers for the best personal loans is possible

When dealing with an emergency, you will often require access to funds immediately. In some cases, you may not have the time to apply for an emergency personal loan. This is when you can rely on a pre-approved loan offer. These are personalised deals offered by the lender and they are based on your profile. Usually, these are available only to customers and borrowers who have an existing relationship with the lender, but new-age lenders today have made these accessible to all.

A pre-approved offer is arguably the easiest way to get an instant loan, as you won’t have to apply or wait for the approval. Submit your details, check the offer, and authorise disbursal. These steps can be done online, making it a viable solution in an emergency.

With an instant personal loan from the right lender, handling emergencies is easier and less stressful. You get the money you need and in a hassle-free manner. One instrument that guarantees ease of access and an affordable experience is the Bajaj Finserv Emergency Personal Loan. This instant loan is designed to assist you and help you get through emergencies without burning through your savings.

With it, you can get approval for a loan of up to Rs. 25 lakh in a few minutes and enjoy full disbursal within 24 hours* What’s more, you can opt for a flexible tenor of up to 60 months. With the dedicated, easy-to-use EMI calculator, you can find suitable EMIs and ensure that payments never become a burden. To enjoy an expedited experience, check your pre-approved offer and get instant funding.

(Note:- The article is written by the Brand Desk.)

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