Emergency Loan
Emergency Loans: Instant Funds for Urgent Situations
Whenever there is no way to manage the cash, an emergency loan is one of the best ways to hold your hand in that crucial time. With the flexible and easily accessible application, EverydayloanIndia introduces the emergency loan. It is free from collateral and lengthy approval services and is also available at any time with the flexible loan application service. If you are facing some sudden expenditure and have less balance in your bank account, then choose an emergency loan and ensure cash in a few minutes which can be used for your desired needs and you can use them anywhere without any difficulties. So, let your emergency go with ease because our loan service is available for your financial assistance at every step of your life.
If you are a salaried person, or self-employed with a higher income and credit score you can get the approval in a few minutes, because our emergency loan never consumes time during the approval and disbursal process. So, click on Apply Now and ensure an emergency loan online today.
The specific reason for choosing our Emergency Loan
Since the emergency escalates you to arrange the cash from anywhere because in that case, your multiple works might have stuck.
In this situation, time matters with the accomplishment of the work, and we especially emphasise the efficient lending mechanism with saving your precious time. Our state-of-the-art techniques help you get the emergency loan in a few hours and fulfil its relevance and the demand for the hours. Therefore, as a trustworthy lending partner, we are always there to stand with our customers in an emergency.
Features and benefits of getting an Emergency loan
Hassal Free Application
Once the application process becomes easy, it imparts an everlasting impression. Let’s explore the best way of application process in an extremely easy way.
Online Documentation
It’s beyond the traditional methods and helps you proceed with the loan without submitting any physical documents therefore there is minimal documentation.
Quick Disbursement
While travelling you don’t have to wait longer for the approval and disbursal of the loan, especially when you adhere to the eligibility criteria. Hence, there are fast disbursements.
Transparency in Fees
There are no concealed or hidden fees in our lending process. All the charges are explicitly disclosed before proceeding with the loan. There is complete transparency in our services.
Easy Repayment
Repaying your personal loan is easy because it helps you repay the loan amount without facing any difficulties. It increases your credit score also with frequent borrowing.
Convenient Interest Rate
A competitive and convenient interest rate makes borrowing easier, supports effective financial planning, and ensures quick access to funds during a cash shortage, helping you manage expenses.
Eligibility Criteria For Emergency Loan Online
You must be sure about the eligibility criteria while applying for an emergency loan online, and it depends on various factors such as income and creditworthiness of the customers, age, nationality and residential status of the customers are also essential, so the factors affecting the eligibility criteria are as follows
- Age: Minimum 18 and Maximum up to 65 years.
- Credit Score: 750 or above
- Income: A minimum of ₹35,000 per month.
- Nationality: You must have Indian Nationality
- Documents required: Aadhar, PAN, Salary Slip, Bank Statement, Utility Bills, Rent Agreements, etc.
What are the Documents Required for an Online Emergency Loan?
Documents required for the loan application depend on the types of employment such as self-employed or salaried persons. However, the main documents are the same, especially for the identity and residential status. The income proof can be different. So the documents required for an online emergency loan are as follows.
- 1. Aadhar Card
- 2. PAN
- 3. Salary Slip (for salaried Person)
- 4. Bank Statement
- 5. ITR (for self-employed)
- 6. Utility bills such as electricity, gas, telephone, and more.
How to apply for the Emergency loan for travel
Follow these steps and apply for an emergency personal loan whenever you have requirements for the amount.
Step 1:
Go to the Application Page and Enter the Details
Step 2:
Submit Your
Documents
Step 3:
Wait for Approval and
Get Disbursal
Step 4:
Easily Repay
the Loan Amount
How to calculate the Interest Rate of a Emergency Loan
The interest rate and monthly EMI for the Emergency Personal Loan can be calculated based on the loan amount, tenure, rate of interest, etc and it can be calculated through the EMI calculator after entering all these details in the EMI calculator.
EMI Calculation Formula: P x R x (1+R)^N] / [(1+R)^N-1]
P= Loan amount
R= Interest Rate
N= Tenure (tenure in years or months)
Just for instance, if you are borrowing an amount of RS 1,00,000 with an interest of 11% per annum, with a tenure of 12 months, the repayment amount with the EMI calculation will be as follows
Loan amount RS. 1,00,000/-
EMI per month RS. 8838/-
Overall interest 6058/-
Repayable loan Amount RS. 1,06,058/-
Frequently Asked Questions
What is an Emergency Loan?
It’s a type of personal loan which is provided to customers, especially those who have an instant requirement of cash for some urgent needs. Therefore, the emergency loan is provided for instant approval and disbursal for any financial commitment.
Which documents are required for Emergency loan?
You must have documents like PAN, Aadhar, Bank statement, salary slip (for salaried persons) ITR for self-employed, rent agreement for those staying in a rented house, utility bills and etc.
Can I apply for a Emergency loan as a self-employed?
Yes, if you have a good credit score and ITR with a higher business return, you can apply for the loan, without any difficulties. You must apply with the documents required such as PAN, Aadhar, Bank Statement, etc.
What are the eligibility criteria for travel loan?
Yes, if you have a good credit score and ITR with a higher business return, you can apply for the loan, without any difficulties. You must apply with the documents required such as PAN, Aadhar, Bank Statement, etc.
How much time travel loan take for approval?
If you are applying for a travel loan with the complete documents and you are eligible as per the terms and conditions, you can get the loan in a few minutes. It will be approved shortly.
