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What Makes A Personal Loan Your Savior In Emergencies

By Finserv MARKETS - Jul 29,2019
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What Makes A Personal Loan Your Savior In Emergencies

Life can be quite unpredictable. There are a number of unforeseen circumstances that could crop up and put us on edge. You can account needs such as the need for a new phone or expenses related to travelling overseas in time. However, with emergencies, the tables can turn, and you could find yourself in a quandary due to the piling expenses. In these cases, you could opt for a Bajaj Finserv personal loan solution to manage costs on Finserv MARKETS. This personal loan interest rate is competitive and ensures affordable access to financial solutions. Finserv MARKETS could prove to be lifesavers as they provide loans in a quick and convenient manner – even in a matter of minutes.

What Is A Personal Loan?

The personal loan is a beneficial funding solution to access cash for urgent situations. You do not need to provide collateral as it is an unsecured type of credit mechanism. Purchasing a personal loan online ensures that you do not have to go through lengthy paperwork and procedures. However, you do not need to provide information on your credit history such as details and reasoning for defaults. Your insurance provider will validate your documentation and credit history before processing your policy.

There could be a number of situations that demand funds such as medical contingencies, urgent house repairs, or job relocation. Here are some cases wherein a personal loan could come to your rescue-

  • Medical emergencies: Medical contingencies can create a heavy financial burden on an individual. Your health insurance plan might not provide cover for a number of incidents or treatments. The personal loan is a hassle-free product offered within a few hours to cover for medical emergencies and treatment of any kind.
  • Wedding: It can be quite an expensive affair to plan your dream wedding. To pull this off, you would need sufficient finances in place. A personal loan can give you the flexibility you need to plan the perfect wedding. It comes with no restrictions on how the cash is used and can, therefore, be allocated to a number of expenses including catering, flower decoration, or shopping for designer outfits.
  • Relocation: If you are moving out of your current home due to personal or work-related reasons, a personal loan can help make relocation easier. It provides funding for any urgent expenses stemming from your decision to relocate.
  • Unplanned holiday: Financial limitations can hamper impromptu travel plans. However, in a few simple steps, you can access a personal loan on an online portal such as Finserv Markers with minimal documentation and a hassle-free application procedure. The amount can be used to cover expenses related to ticket bookings, accommodation, and even a romantic dinner by the beach. You name it, and the personal loan can help you make it happen.
  • Home renovations: If there is one thing that can always go out of hand, it is your budget for home renovations. With personal loans from trusted financial institutions, you can access cash to cover for additional expenses related to your home renovation. With online platforms such as Finserv MARKETS, you can even access loans up to Rs. 25 Lakh to easily cover for your expenses.
  • Education-related expenses: You would never want financial limitations to come in the way of your child’s aspirations. With a personal loan, you can ensure your child has the support he or she needs to access high-quality education. You can even use the amount for tech requirements, books, and clothing.
  • Purchasing gadgets: Let us assume that your fridge breaks down. You can either opt to repair the appliance and accrue significant expenses or purchase an upgraded model for savings in the long-term. A personal loan can help you buy a home appliance with ‘smart’ technology with its custom-made loan variants.

As a personal loan does not require a guarantor, you can access the amount in a few hours without the need for a pile of paperwork. It is your savior in the case of emergency situations. The finance provider will only check your credit bureau score for previous defaults and other essential credit history

You could speak to a trusted financial advisor or log on to an online portal like Finserv MARKETS to learn more about the Equated Monthly Installment (EMI) due-dates and penalties to make sure your credit history remains blemish-free. Digital lending platforms also provide flexibility with less paperwork and swift approval.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522