Top 3 Reliable Options for Urgent Cash in an Emergency

Life is unpredictable, full of surprises. While some surprises delight your heart with immense joy, some may turn out to be overwhelming. For example, a sudden health crisis, a hefty bill, an out-of-the-blue vehicle breakdown, an unexpected relocation, etc. In such critical scenarios, having quick access to liquid cash can be a lifesaver, especially in a fast-paced city like Mumbai. Let’s figure out some of the most secure & reliable ways to obtain urgent funds without a wait.

1. Emergency Loan in Mumbai

In a cosmopolitan city like Mumbai, where expenses come back-to-back, running short of money or bills adding up quickly is a common occurrence. To bridge cash flow gaps at lightning speed, the very first option preferred by a large number of residents is ‘Instant Emergency Loan in Mumbai.’ With RBI-registered personal loan apps, you can obtain quick cash in minutes, with minimal paperwork, zero stress, and no hidden charges.

2. Credit Cards or Cash Advance on Credit Cards

They’re another reliable source of addressing pressing financial needs or bridging short-term cash crunch issues. They provide convenience with complementary rewards, cash back, and offers. However, the cons of using credit cards are highly stressful. For instance, very high interest rates of 30–45% annually are charged if you don’t pay the full amount. Apart from that, late fees & GST are imposed. Additionally, late payments or high credit utilization damage your CIBIL score. Therefore, utilising credit cards is a viable option if you use them with caution. 

3. LAP (Loan Against Property)

If you own something valuable, such as a property, LAP is another credible option to obtain emergency cash. Getting funds against your property can also be termed as secured loans. Although they provide easy funds, the processing time can be much longer compared to an Instant Emergency Loan in Mumbai. Secondly, many borrowers are not willing to put their assets at stake in exchange for cash.

4. Emergency Funds

The best way to counter an unforeseen cash emergency is by building emergency funds in advance. They serve as a crucial safety net in critical times. However, doing so requires regular contributions and time. Therefore, a majority of us don’t have urgent emergency cash for a crisis. 

In conclusion, mobile-based quick personal loans are clear winners among others in terms of speed, flexibility & convenience. Being a resident of the City of Dreams, you can apply for an emergency loan in Mumbai with an RBI-registered NBFC SuryaLoan for quick cash up to 1 Lakh in just 10 minutes.