Each of us may have to face these kinds of situations at one time or the other. At such times, arranging funds can be quite tricky. 

Sometimes you may be financially unprepared for an emergency and feel you have nowhere to go. Under such a scenario, you cannot let your future financial plans go awry. Sudden expenses like a wedding, a major illness, a foreign holiday, an unexpected home renovation and cash shortages can come up at any time. Unavoidable as they may be, arranging funds for these situations is not impossible. And in scenarios where you have to arrange cash at short notice, a personal loan through personal loan app can be your best friend. 

Going the traditional route of approaching a bank may take days; something you can’t afford during an emergency. And this is where personal loan apps come into the picture. At times of financial need, you may be required to take a personal loan. Apply online via personal loan apps, and you can get a loan within 24 hours. This, and more, without bulky documentation and extra effort. Getting an instant loan through personal loan apps can thus allow you to deal with your emergency head on and get your life back on track. 

Many factors make personal loans through personal loan apps an attractive option to solve financial emergencies. Here are a few of them:

• Fixed rate of interest

Personal loans usually come with a fixed rate of interest ranging between 10 to 24 per cent. These fixed personal loan interest rates remove the worry of fluctuating EMIs during the loan tenor.

• No Collateral Required 

Personal loans are unsecured, and you don’t have to arrange for collateral in the form of shares or other assets. This not only reduces the loan tenor but also offers a viable loan option to people who don’t own assets such as a home or a car. 

• Quick Approval and Disbursal
  

When applied through a mobile app, personal loans applications are quick and hassle-free. With the Bajaj Finserv app, your loan can be approved within 5 minutes. If you meet the eligibility criteria and have a good credit score, you can get the loan disbursed within 24 hours of application through the app. And coupled with minimal documentation, it is undoubtedly a fast and easy way to get the required funds.

• Flexibility to choose Tenor
  

Personal loan tenors can range from 12 months to 60 months, giving you the flexibility to choose the tenor best suited to your preferences. Longer tenor means lower EMI and vice versa. You can decide on the tenor and calculate the EMI using an EMI calculator.

• No Limitation on End Use
  

With a personal loan, you have complete flexibility of end use. Once disbursed, the amount can be used to fulfil any requirement, be it to fund your travel plans or tend to a medical emergency. In other words, any situation that demands immediate cash can be resolved with the help of an instant personal loan via personal loan apps. Through the app, such as from Bajaj Finserv, you can get a slew of personalised pre-approved personal loan offers to choose from, making your task more comfortable.

• Larger Loan Amounts
  

The personal loan amount you borrow is dependent on factors such as your credit score, income, repayment ability and if these are positive, you can apply for a loan amount that fits your need. With the Bajaj Finserv app, you can get a loan up to Rs. 25 lakh, and pay up to 45% lower EMIs on the borrowed amount.

You can get a personal loan through the Bajaj Finserv app through these quick easy steps: 

1) Download the app on your phone

2) Register on the app

3) Enter your personal details such as monthly salary, city of residence etc. to establish eligibility for a personal loan. 

4) Browse through personalised pre-approved offers and submit your KYC documents and proofs of identity, residence and employment. And if all the criteria are met, you can get your loan within 24 hours.

Bottom Line

Arranging for cash for an emergency can seem like a daunting task. But with apps like Bajaj Finserv, you can apply for a personal loan and fulfil your financial needs in a manner that suits you best. They are easy to apply for, and the process is fast and straightforward. This gives you the freedom to address the emergency in an uncomplicated and swift manner thus removing the bump on your path to financial stability. 

Bajaj Finserv has many offers for pre-approved personal loans. A pre-approved offer from Bajaj Finance not only simplifies the process of availing your loan, but also helps you save on time. So, all you have to do is share a few basic details and check out your pre-approved offer to get your loan that suits your financial needs.