Life is full of surprises. One moment, it may offer you the most joyous and relishing moments of wedding proposals or chance to travel to your favorite place, while the next may leave you in upheaval caused by sudden accident or ailment of a dear ones; creating an urgent need for money. Financial emergencies can catch us off-guard and often leave us pondering over the situation in desperation. Here’s where Emergency Personal Loan can come to your rescue.
Emergency Personal Loans are short-term, unsecured personal loans offered by fintech companies and can be availed online to meet your emergency money requirements. They are also called as cash loans and are apt for people who need smaller amount, for a short period and quickly. The approvals for such loans are faster. Since its unsecured, you don’t need to pledge any collateral security to the bank, and it can be used for any purpose like home repairs, auto repairs, medical expenses or any other unexpected emergency. While emergency loans are similar to payday loans, with the former, you have flexibility of repaying across number of months.
Key features of Emergency Personal Loans:
One of the most attractive feature of an emergency personal loan is that it is quick and easy to avail. You need to meet basic eligibility criteria and with minimum documentation, you can apply for it online. The online process makes it faster and efficient; the approval and disbursal can come in 24 hours, sometimes, even less. It offers flexibility in terms of repayment tenure which allows to plan your outflow.
Documents required for Applying for Emergency Personal Loan:
- Last 3 Months’ Salary Slip
- Employee ID
- Pan Card
- Address Proof (Driving License / Voter ID / Aadhar Card)
- Last 3 Months’ Bank Statement
- Must be Salaried Individual
- Must be of Indian Nationality
- Must be of 21 to 58 years of Age
- Must have Minimum Work Experience of 1 year
- Must have Net Monthly Income of INR. 20,000/-
- Must have Income Credited to Bank Account Only
You can apply for emergency personal loan on MYFI – the most preferred online lending platform by many. We bring you the best offers from the lenders across the platform that suit your profile and loan requirement.
Don’t let the emergencies get the better of you. Apply for a personal loan with MYFI & Fly!