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Instant approvals make personal loans the ideal way to manage any emergency

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Budgeting your income and expenses is wise, allowing you to be financially healthy. However, an emergency can disrupt your finances, and you may find that your savings may not be enough to manage the expenses.

Situations like unforeseen medical procedures, urgent travel for business or family needs, time-bound educational or repair expenses and more may require more funds than you have at hand. In such cases, an emergency personal loan can be an ideal solution.

When time and convenience are paramount, you can rely on offerings such as the Bajaj FinservEmergency Personal Loan, which offers up to Rs. 25 lakh with instant approval and quick disbursal. To know how to address your urgent needs with an emergency personal loan, read on:

1.     Meet the eligibility terms to qualify for the loan in no time
When you need funds for an emergency, you may not have the time to go through a lengthy application process. Getting a Bajaj Finserv Emergency Personal Loan saves you from this hassle as you can qualify easily by meeting simple requirements. They include the following:

·       Your age should be between 21 and 67 years*

·       You should be a residing citizen of India

·       Your CIBIL score should be 750 or more

·       You should be employed in an MNC, government or private organisation

·       Your monthly income should meet the minimum city-based salary requirement – it’s usually Rs. 22,000 or higher

2.     Get funds without collateral and with minimal documents

The best thing about the Bajaj Finserv Emergency Personal Loan is that you can apply without collateral. Not having to pledge any asset helps with faster processing as you don’t need to submit asset-related documents, and the lender doesn’t need to cross-verify the details. With Bajaj Finserv, you can get approval by submitting a few readily available documents. They include KYC documents (Aadhaar card, Pan card, passport), recent statements of your bank account, latest salary slips, and identity proof issued by your employer.

3.     Apply quickly online and get approval instantly

Once you fulfil the eligibility criteria and assemble the required documents for the personal loan, apply online in just a few clicks. You can get approval for your loan within 5 minutes. This speedy process helps you plan the funds for your emergency needs easily. Just make sure you fill in your personal, employment and financial details in the online form without any mistake.

4.     Get funds in just a day to meet urgent needs

After getting approval for an emergency personal loan, getting the funds in your account takes less than 24 hours. With such quick disbursal, you can finance your emergency requirements comfortably. Pay for a range of urgent expenses like hospitalisation, marriage, tuition and more, without any hassle.

5.     Plan and manage repayment easily online and on the go

Making the right decisions is key to borrowing sensibly, even during hectic times. Use the online EMI calculator to plan repayment and decide the loan amount and the tenor. Bajaj Finserv offers a competitive personal loan interest rate and an extended repayment timeline of up to 5 years. Using its handy digital calculator, you can compute your EMIs even on the go. This way, you can be assured that repaying the loan in affordable monthly instalments won’t put a strain on your finances. Once you take care of your emergency, you can even make part-prepayments at nominal charges to become debt-free faster and save on interest payments too.

6.     Use a pre-approved offer to qualify within minutes

With prior credit experience with Bajaj Finserv, you can get access to many pre-approved offers that can significantly help during an urgent cash crunch. The lender already has your complete profile in such cases, so you need not submit the usual documents. Just choose the offer that matches your requirement and get an emergency personal loan within minutes.

All these features ensure that you can conveniently get a quick emergency personal loan from Bajaj Finserv to meet critical big-ticket expenses. Make sure you understand the cost of borrowing by using the personal loan interest calculator. It not only helps you compute budget-friendly EMIs but also to understand the total interest you will pay.

To enjoy more repayment freedom, use Bajaj Finserv’s Flexi facility. By opting to pay interest-only EMIs during the initial term, you can reduce your monthly instalments by up to 45%*. This way, you get sufficient time to reorganise your finances and cash flow. All that’s left for you to do is to check your pre-approved offer and apply online.

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