The emergency loan helps with unexpected expenses and gives a boost when you are in a financial bind. If you have unexpected expenses like medical bills or car repairs, a personal loan for emergencies can assist you.
Emergency loan by Piramal Finance provides 24/7 access and instant loan approval, so you don't have to wait for your money. There is no need to worry about extended credit checks or complicated paperwork. Apply for an emergency loan online and get the funds in your bank account!
Features & Benefits of Emergency Loan
Getting a Personal Loan for Emergency from Piramal Finance has several benefits that aim to streamline the customer journey –
Loan Amount and Tenure
Piramal Finance offers you an urgent loan amount of up to Rs. 5 lakhs with loan terms ranging from 3 to 60 months, depending on the loan amount and your repayment capacity. This gives you a great deal of flexibility in terms of loan duration and loan amount, ensuring that you get the financial assistance you need when you need it.
No Security Required
The emergency loan is safe because you don't need to use any of your belongings as security. This also helps streamline the loan process, eliminating the need for lengthy paperwork and credit checks.
Attractive Interest Rates and Easy Repayment
Emergency loan interest rates at Piramal Finance start at 12.99*% per annum, based on loan amount and tenure. Also, the emergency loan provides flexible repayment options, allowing you to select a plan that suits your needs and budget.
Digital Loan Processing
You can use the Piramal Finance website anytime, anywhere, to apply for an urgent personal loan within minutes. Thanks to a fast, seamless online verification process, your loan amount gets disbursed on the same working day.
Urgent Loan Disbursal
Piramal Finance designed the emergency loan to provide you with the loan amount quickly and hassle-free. Once you have filled out our simple loan application form, we will disburse your loan amount immediately.
Fees and Charges for Emergency Loan
Get an emergency personal loan at competitive fees & interest rates. Below is a table of our fees and charges –
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- Features and Fees
- Details
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- Urgent Loan Interest Rates
- {plintrestrate}* p.a. onwards.
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- Loan Amount
- ₹ 25,000 to ₹ 5,00,000.
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- Processing Fees
- Up to 5% plus applicable taxes.
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- Loan Tenure
- 3 - 60 months
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- Prepayment Charges
- ₹ 0
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- Foreclosure Charges
- ₹ 0
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- Stamp Duty
- At actuals (as per state)
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- Cheque Bounce Charges
- ₹ 500 plus applicable taxes
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- EMI Bounce Charges
- ₹ 500 plus applicable taxes
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- EMI Pickup/Collection Charges
- ₹ 250 per visit plus applicable taxes
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- Cash Collection Charges
- 1% of collection amount of Rs. 50000 and above in cash + taxes
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- Change of Loan Repayment Mode
- ₹ 500 plus applicable taxes
Fees and Charges for Emergency Loan
Get an emergency personal loan at competitive fees & interest rates. Below is a table of our fees and charges –
Documents Required for Emergency Loan
Are you applying for a personal loan for emergency? Here are some documents you need to submit as part of the loan process:
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- Document Type
- For Salaried Individuals
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- Photo ID Proof
- Voter ID card, Pan card, passport, and Aadhar card
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- Residence Address Proof
- Voter ID card, Passport, Aadhar card, driving license, utility bills
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- Office Address Proof
- Not applicable
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- Income Proof
- Bank account statement of salary account, salary slip of the last one month, form 16
Documents Required for Emergency Loan
Are you applying for a personal loan for emergency? Here are some documents you need to submit as part of the loan process:
How to Get an Emergency Loan on the Same Day?
You can get a Personal Loan for Emergency urgently with Piramal Finance. Follow the few simple steps –
Step 1: Click on Apply Now and start your Emergency Personal Loan application
Step 2: Enter your mobile number linked to your bank account.
Step 3: Enter the OTP received on your mobile number.
Step 4: Enter the required document and verify the same.
Step 5: Bank account verification.
Step 6: Income Verification.
Step 7: Check the Loan Final Offer, Accept, and continue the final process.
Factors Responsible for Emergency Loan Interest Rate
The interest rate for an urgent personal loan typically begins at 12.99% per year. Additionally, the maximum repayment period is five years. The final interest rate you get for a personal loan for emergency depends on factors like your monthly income, employment type, work experience, and age.
- Age:
- To apply for an urgent loan, you must be between 21 and 58 years of age. Young people have a higher likelihood of repaying loans. As a result, we offer them lower interest rates on Urgent Loan. Older adults aged 50 to 60 may receive a higher interest rate. This is because of their increased likelihood of being unable to repay the borrowed funds.
- Credit Score:
- Your credit score helps decide your interest rate. A higher credit score means you are more trustworthy for credit so you might get a lower interest rate on urgent personal loan. However, Piramal Finance offers loans with competitive interest rates even if you have low credit scores.
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Employment Status:
- Applicants working in public sector and private sector companies or being self-employed with a minimum of one year of business activity are considered eligible for a personal loan for emergency. Individuals with higher income certainty and job stability are given more priority and offered lower interest rates than others.
Different Types of Personal Loans
Home Improvement Loan
You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.
Wedding Loan
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Travel Loan
If you are willing to travel to an exotic location, applying for a personal loan is the way to go.
Car Loan
You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.
Festival Loan
The festive season often comes with various expenses, which online insta loans can help cover.
Loan for Women
Empower yourself with a specially designed quick personal loan for women. It provides financial support for various needs with competitive interest rates and flexible repayment options.
Loan for Salaried Employees
Unlock financial flexibility with a personal loan designed exclusively for salaried employees. Get the loan quickly and conveniently.
Education Loan
You can borrow finance online to pay for housing and food while studying at a university in another city or country.
Personal Loan for Bike
Don't wait any longer to own your dream bike. Apply for a personal loan for a two-wheeler and get instant approval.
Frequently asked questions
To be eligible for an Urgent Loan, you will need to satisfy the following eligibility criteria:
- You must be at least 21 years of age.
- To be eligible for a personal loan for emergency, you must currently work in a private limited company or public sector undertaking or must be self-employed.
- To increase your chances of obtaining an emergency loan online, it is recommended that you have an income of at least Rs.25,000 per month.