How to apply for an emergency loan online in India?

by Finway FSC Empowering People Financially

Emergency Loans in India are much easier to secure than it was back in the day. No matter how much you plan for in your life, there will be unfortunate events in life. During this tough time, you will require money. If you are short of funds, then applying for an emergency loan online is the best way to seek help.

There are many flexible and personalized loans offered by Indian banks that will instantly fulfill the customer needs. You can avail to this instant personal loan without any fax documents or being physically present.

A typical emergency loan in India has a loan amount between 10k to 50k. The loan tenure is somewhere between 30 to 90 days. The interest rate is 0.1% per day.

Steps to Get Emergency Loans Online:

• First, you need to visit the homepage of any banking site. Click on ‘Emergency or small cash loan’.

• You have to provide a few necessary details such as personal details like your name, the place you live in, email ID, mobile number and a government verified documents such as Aadhar card or PAN card.

• Then you will have mentioned the loan amount needed, EMIs you pay per month, monthly salary and your company’s name.

• Once you fill all these details, click on ‘Apply’.

After this, your loan application will be reviewed. If that is no problem in the application, a representative from the bank will get in touch to lay out the details before your instant personal loan is approved.

Features of Emergency Loan:

• Funds get deposited directly to the bank account

• Fixed interest rates

• Constant monthly payments

• The funds are credited within 24 hours of approval.

Necessary requirements to apply for an emergency loan:

• You need to a minimum salary of 25k to avail for any kind of loan. Your credit score must be 600 and above.

• You must be employed with the company for at least 3 months.

• Basic documents are required, such as identity proof and current address proof. You can do so by providing a soft copy of any of your PAN card, Voter ID card, Driver’s license, passport, electricity bill, etc.

• You need to provide your income proof. You can do so by providing your salary slip or bank statement.

The last instruction is to check the terms and condition, especially if you miss an EMI deadline.