What are Emergency
Emergency cash loans are ideal for those who need a small amount of cash, for a short-term period, quickly. Once your application is approved, you will receive the emergency cash within 24 hours (with many cases being less than one hour), in order to help you deal with the financial emergency when you need it most.
Emergency loans are a form of an alternative payday loan but can be paid across a number of months rather than in one lump sum at the end of the month. Emergency loans are typically used to cover home and auto repairs, medical expenses and other unexpected bills. This instant loan helps to make them more affordable, giving you a more flexible and manageable repayment approach.
In many cases, you will also be considered for an emergency loan if you have less than perfect credit, from a responsible and reliable lender.
We help you find Emergency loans with best interest rates
Benefits of Emergency Loans
Online Approval Process:
Time is equally important during a financial hiccup, we understand that and hence make sure that getting access to the loan is made simpler for you.
Once you apply for an instant loan online, depending on your personal loan eligibility we connect to our lender network to find the best options available for you.
Once the online application is approved with the right documents, we make sure that you don’t have to wait in the time of need. Lenders disburse the money within 24hours. In many cases, the money is transferred to the bank account in less than an hour.
Covering all unexpected expenses in your next paycheck is not always possible, hence MYFI offers a more flexible approach towards repayment on your emergency loan which can be paid over a few months.
If you have a financial emergency and need an instant personal loan, look no further and apply for a loan here at MYFI!
EMERGENCY LOAN ELIGIBILITY
All personal loan lenders have their own set of criteria when evaluating a personal loan application. To apply for a personal loan through MyFi, you must check the boxes below:
|Profession Type||Salaried Only|
|Minimum Age||21 Years|
|Maximum Age||58 Years|
|Minimum Work Experience||1 Year|
|Minimum net Monthly Income||INR 20,000|
|Method of receiving Income||Bank Transfer Only|
Please keep the below documents ready in PDF format when applying through MyFi:
(last 3 months)
(Driving License/Voter ID/Aadhaar Card, etc.)
(last 3 months)
How are emergency loans in India different from other types of credit?
Bad Credit Isn’t an Automatic Barrier:
It can be stressful and disheartening to get rejected automatically by the bank or other lenders because of a poor credit history, however, MYFI is different, you can request for a loan regardless of your credit score. The lenders in our network fairly assess personal loan eligibility on other factors such as employment status & income level before making a final decision.
They Are Ideal for Temporary Budgeting hitch:
Whether you’re facing an unexpected bill or need to make an upfront purchase, emergency loans are ideal for those temporary budgeting issues that can be solved when a few paychecks roll in. In that scenario taking out a large loan from the bank isn’t ideal & that’s why our lenders offer manageable amounts.
Reach Multiple Direct Lenders:
A major barrier that borrowers commonly face is having to approach a number of lenders until the ideal solution is found. This is time-consuming and inefficient, MYFI matches you to a network of lenders that will be willing to help you in your difficult situation
Just apply for a personal loan online with MYFI & we’ll do the rest. Knowing your personal loan status is simple with us.