Emergency Loan

Even if you have the most failsafe financial plan in place, there may be some situations that you simply cannot foresee. You may have an emergency fund to deal with such contingencies, but in some cases, your emergency fund may deplete soon, leaving you with many bills to pay. For such unexpected needs, you can always avail an emergency loan.

This is a kind of personal loan that you can rely on to fund unforeseen costs like a major home repair after a natural disaster or a sudden medical emergency involving yourself or a member in your family. With an emergency personal loan, you can ensure that your financial needs are easily met. 

Disclaimer: Current interest rates shown are indicative of market conditions and individual qualifications and will vary based on your lock-in period, loan type, credit score, purpose, and loan to value ratio.

To be eligible for an emergency loan online, you need to fulfil a few basic eligibility criteria. Check them out below.

• You should be an Indian national 

• You should be aged 21 or above

• You need to be a salaried or a self-employed individual

• Your net monthly income should be at least Rs. 15,000

• You should have a work experience of 2 to 3 years

• Your credit score should be 600 or above

To apply for personal loan online, you need to submit the following documents as a part of the process. 

• Proof of identity like PAN, Aadhaar card, voter’s ID, passport or driving licence

• Proof of residence like voter’s ID, Aadhaar card, passport, driving licence, electricity bill, telephone bill etc.

• Proof of income like your bank statement or salary slips of the previous three months 

• 2 passport size photographs of the applicant

Before you apply for an urgent emergency loan online, you need to keep some important things in mind. Here are some key things you should consider. 

• Interest Rate: Check the interest rates and compare your options before you apply for a loan from a specific lender. That way, you can find and take advantage of the best interest rates.

• Terms and Conditions: Also look at the terms and conditions of the loan, like the foreclosure policy and the repayment tenure, among other things.

• Fees and Charges: There may be other fees and charges associated with your emergency personal loan, like processing charges and prepayment fees. Get to know these details before you apply.

• Eligibility Criteria: Lastly, check the eligibility criteria and make sure you qualify for the loan. This makes the application process much easier and quicker.

Applying for an emergency loan on Bajaj Markets takes very little time. All you need to do is follow the steps outlined below.

• Step 1: Visit the Bajaj Markets website.

• Step 2: Enter your personal and professional details in the application form online. 

• Step 3: Choose the lender from whom you wish to avail your loan. Select the amount of loan you wish to borrow and enter the loan tenure to get instant approval online.

• Step 4: Submit the application form and the required verification documents.

• Step 5: After your application is approved, the amount will be disbursed to your bank account.