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Loans for Emergency
Emergency loans are short-term funds provided by lenders to cover sudden, unexpected expenses. They feature swift online application and approval, flexible repayment terms, and varying interest rates. Eligibility criteria typically include age, residency, and income stability. Additional costs may include application fees and late payment penalties.
Benefits of Emergency Loan
Get a loan on your terms. Choose from flexible EMI and tenure options.
100% digital process
Submit details online
Instant Loan approval
Get approval in mins!
Flexible EMIs and tenure
Choose your tenure & EMI
Steps to Apply and Get a Personal Loan for Emergency
Follow the simple steps mentioned below
Open Airtel Thanks App
Find Shop > Airtel Finance
Select Flexi Credit
Fill in your basic details
Get best offer
Basis profile verification
Complete the KYC
Link your bank account
Emergency Loan EMI Calculator
Use online calculator to calculate the EMI amount for your emergency loan
Emergency Loan amount
Enter the loan amount
₹
Tenure plan
Choose your tenure plan
Mo
Rate of interest
Adjust your interest rate
%
Principal
Interest
Features of Emergency Loan
With Airtel Flexi credit you get below
Personal loan amount
₹10,000 to ₹9,00,000
Interest rates
Starting from 11.5% p.a.
Personal loan tenure
03 to 60 months
Credit disbursal
Within 24 hours
No paperwork
100% online
Low processing fee
2% to 4% + GST
Emergency Loan Eligibility Criteria
One must be between age-group of 21 and 65 to be eligible for a short-term loan.
Flexible employment type
Emergency personal loans from Airtel are available for salaried and self-employed individuals
Monthly income criteria
Anyone with a monthly income of ₹13,500 or more can apply
Short term loan limit
If you are looking for a loan between ₹10,000 to ₹9,00,000, then Airtel Flexi Credit is perfect for you!
Emergency Loan- FAQs
What are emergency loans, and when are they typically used?
Emergency loans are a form of personal loans that are provided to those in need of urgent money. If you require instant funds, then consider emergency loans. Also, don’t forget to check Airtel and get an instant loan of up to ₹9 lakhs with a 100% online process.
How quickly can I expect to receive funds from an emergency loan?
It depends on how quickly you submit your application and the required documents to the lender/bank. You need to apply before the cut-off time on a business day to be able to receive funds on the same day. However, depending on the loan amount and the lender, it could also take a couple of days for the funds to be processed in your account.
What are the basic eligibility requirements for obtaining an emergency loan?
The basic requirements to be eligible for an emergency loan are as follows-
- Photo ID proof such as Aadhar card, PAN Card, Passport, Driving license
- Minimum age criteria needs to be 18
- Decent credit score
- Proof of income like bank statements, salary slip etc.
What types of emergencies are typically covered by emergency loans?
Generally, emergency situations such as unexpected medical expenses, car bills, house repairs due to natural disasters are covered under emergency loans.
Are emergency loans available for both personal and business emergencies?
Yes, you can avail of an emergency loan for a personal or business emergency. However, the reason needs to be strong enough for the lender to process the funds instantly.
Do emergency loans require collateral or a good credit score?
Emergency loans, like payday or personal loans, often do not require collateral. However, lenders typically consider your credit score, income, and other factors to determine your ability to repay. While some lenders offer loans to people with bad credit, these may come with higher interest rates or fees. It's always important to understand the terms before borrowing.
What are the interest rates and fees associated with emergency loans?
Interest rates and fees on emergency loans vary widely depending on the lender and your credit profile. Interest rates can range from as low as around 5% to as high as 400% or more for payday loans. Fees may include origination fees, late payment fees, and others.
Are there government programs or assistance available for emergency loans?
Yes, there are government programs available to assist individuals in financial emergencies.
How do I repay an emergency loan, and what are the repayment terms?
Repayment of an emergency loan typically involves making regular payments over a set period, often monthly. The repayment terms, including the interest rate, fees, and length of the loan, are outlined in the loan agreement. Some loans may have a fixed repayment schedule, while others may be more flexible. Penalties may apply for missed or late payments. It's crucial to understand these terms before borrowing.
Can I apply for an emergency loan if I already have existing debt or loans?
Yes, you can apply for an emergency loan even if you have existing debt or loans. However, lenders will consider your debt-to-income ratio, which is your monthly debt payments divided by your gross monthly income. If this ratio is high, lenders may see you as a riskier borrower, which could affect your loan approval or interest rate. It's important to ensure you can manage additional debt before taking on a new loan.
Personal Loan Lending Partner - Airtel Flexi Credit
Get Emergency Loans Online
In times of unforeseen financial crises, emergency loans online serve as a ray of hope. Providing immediate financial relief, these loans are designed to meet sudden, unexpected expenses that require immediate attention.
Eligibility Criteria to Apply for an Emergency Loan
The eligibility criteria for an emergency loan vary across different lenders. However, generally, the applicant must be a resident of the country, over 18 years old, and have a steady source of income. A good credit history can also be beneficial, although some lenders also cater to lesser credit history, considering various other factors like the loan amount, tenure etc.
Latest Emergency Loan Interest Rate
The interest rates for emergency loans fluctuate based on various factors such as the lending institution, the borrower's credit score, and the loan amount. As of the current market trends, the interest rates typically range from 5.99% to 35.99%. However, it's always recommended to check the latest rates with your chosen lender.
Calculate EMI for Emergency Loans
Calculating EMI for emergency loans is a crucial step in planning your repayment strategy. You can use an online EMI calculator for this purpose. By inputting the loan amount, tenure, and interest rate, you can get an estimate of your monthly installments.
Procedure to apply for an Emergency Loan
The procedure to apply for an emergency loan is typically straightforward. First, you need to fill out an online application form, providing personal and financial details. Upon approval, the lender will contact you to verify the information. Once everything is confirmed, the loan amount is disbursed, often within a matter of hours.
Best Features and Benefits of Emergency Loans
The best features of emergency loans include quick approval and disbursement, flexible repayment terms, and the ability to use the funds for a variety of purposes. With an urgent personal loan, you can pay for medical emergencies, home repairs, car breakdowns, or other unexpected expenses.
List of Documents Required for an Emergency Loan
The documents required to apply for an emergency loan typically include proof of identity (such as a passport or driver’s license), proof of residence, proof of income (such as pay slips or tax returns), and bank statements. Some lenders may ask for additional documents based on their policies.
Fees and Charges for an Emergency Loan
Besides the interest rate, emergency loans may also include other fees and charges such as application fees, origination fees, late payment fees, and prepayment penalties. It's important to read the loan agreement carefully to understand all the costs involved in borrowing.
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