Emergency Loan - Get Urgent Personal Loan Online

Q: What is an Emergency Loan?

An emergency loan is a loan granted to borrowers who are in urgent need of money. This loan can be used for any short-term financial requirement, such as medical bills, home repairs, or other expenses.

Q: How to apply for an Emergency Loan Online?

Here are the steps to apply for the Emergency loan from Piramal Finance:Step 1 - Click on Apply Now and start your Personal Loan Emergency applicationStep 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 sameStep 5 - Bank account verificationStep 6 - Income VerificationStep 7 – Check the Loan Final Offer, Accept, and continue the final process. After completing the final process within 24 hours, the personal emergency loan will get credited to your verified bank account.

Q: How to calculate Emergency Loan EMI?

The calculation of the personal loan for emergency EMI is done using the following formula: EMI Amount = [P x R x (1+R)^N]/[(1+R)^N-1]Here,P = Principal amountR = Rate of InterestN = Number of years for repayment (this is calculated in months)

Q: Can people with low credit scores avail emergency loans online?

Yes, people can avail emergency loan with low credit scores. Piramal Finance offer emergency loans for bad credit. However, the loan amount and interest rate may be higher than normal.

Q: Can government employees’ avail emergency loans at lower interest rates?

Yes, Piramal Finance offers marriage loans to government employees at lower interest rates. Government employees are usually considered lower risk, and thus, Piramal Finance charges them with lower personal loan interest rates than they would for others.

Q: What is the minimum and maximum loan amount that I can avail on an emergency loan?

Piramal Finance offers a minimum of Rs. 50,000 and a maximum of Rs. 10 lakhs, depending on your eligibility criteria.

Q: Is it possible to foreclose or prepay Personal Loan for an Emergency?

Yes, loan applicants may foreclose or prepay for Loan for Emergency. However, Piramal Finance charges a 4% prepayment fee on the amount of the personal loan plus any applicable charges that are prepaid or foreclosed.

Q: Why choose Piramal Finance for Emergency Loan?

Piramal Finance offers loan for emergency at competitive interest rates with flexible repayment options. The loan amount can be obtained quickly, and the loan process is hassle-free. Customers can also avail exclusive benefits such as loan insurance, cashback offers, EMI moratoria, etc., on loan for emergency from Piramal Finance.

For those times when you need financial assistance quickly, a loan for emergency provides the perfect solution. Emergency loans online can be used to cover unexpected expenses and provide a much-needed boost when you are in a financial bind. Whether you are facing a medical bill, car repair, or any other unforeseen expense loan for emergency is here to help. Emergency loan offers the flexibility of 24/7 access and instant approval decisions so that you do not have to wait for your loan funds. With a loan for emergencies, there is no need to worry about lengthy credit checks or complex paperwork; just fill out our simple form and get the cash you need fast!

Features & Benefits of Emergency Loan

When it comes to a loan for emergency, there are several features and benefits you can expect. Whether you need a personal loan for an emergency or a medical loan, the loan process is quite simple. Features and benefits that come with Piramal Finance loan for emergency include:

Loan Amount and Tenure

Piramal Finance offers you a loan amount of up to Rs. 10 lakhs with loan terms ranging from 12 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

In Piramal Finance emergency loan does not require any security or collateral, so you do not need to worry about putting your assets at risk. This also helps streamline the loan process as it eliminates the need for lengthy paperwork and credit checks.

Attractive Interest Rates and Easy Repayment

Interest rates in Piramal Finance starts from 12.99*%pa onward, depending on the loan amount and the loan tenure. Moreover, a loan for emergency offers flexible repayment options so that you can choose a repayment plan that best suits your needs and budget.

Quick, Hassle-Free Disbursal

Piramal Finance’s emergency loan is designed to provide you with the loan amount quickly and hassle-free. Once you have filled out our simple loan application form, we will get back to you within 24 hours and disburse your loan amount within 48 hours of loan approval.

Eligibility Criteria for Emergency Loans

To be eligible for an Emergency personal loan, you will need to satisfy the following eligibility criteria:

1.
The applicant must be at least 21 years of age.
2.
To be eligible for a loan for emergency, you must currently work in a private limited company or public sector undertaking or must be self-employed.
3.
To increase your chances of obtaining a loan, it is recommended that you have an income of at least Rs.25,000 [NB2] each month. Piramal Finance evaluates potential borrowers based on their level of income.

Documents Required for Emergency Loans

Are you applying for a personal loan of Rs. 1 lakh? Here are some documents you must submit as part of the loan process:

Address Proof:

You can provide any of the following documents: Electricity bill, ration card, passport, bank statement

ID Proof:

For proof of ID, you can prove any of your KYC documents such as your PAN card, Passport, Aadhar card, Voter ID

Income Proof:

Salaried individuals – salary slips and Form 16
Self-employed professionals – ITR/P&L statements

Bank Statement:

Applicants must submit the latest 6 months’ bank statements to prove their repayment capacity

Photograph:

Applicants must submit a recent passport-sized photograph

Interest Rates & Charges for Personal Loans for Medical Emergency

Interest rates for an emergency loan from Piramal finance start at 12.99*%pa. Apart from the interest charges, you may also be required to pay processing fees when you apply for a loan for an emergency. The processing fee is 4% of the loan amount plus taxes, and it is deducted directly from your loan amount upon approval. You should also be aware that the loan for emergency may include other charges such as foreclosure and prepayment fees. Make sure to read all the terms and conditions carefully before applying.

The following are some of the emergency personal loan charges you should be aware of:

Processing Fee

The processing fee is the fee charged by Piramal Finance for processing your loan application. Piramal Finance charges a processing fee of 4% of the loan amount plus taxes, which is deducted from the loan amount upon approval.

Goods and Services Tax (GST)

The Goods and Services Tax (GST) is a government-imposed tax on loan services. The rate of GST charged varies, so double-check the loan offer document before applying.

Verification Charges

Verification charges are applicable if the loan application requires a field visit for document verification or for any other type of loan process. Piramal Finance charges a fee of Rs. 250 for each visit.

Charges Levied for Issuing Duplicate Statements

If you lose your loan statements or need to get additional loan statements, Piramal Finance will charge a nominal fee for issuing duplicate statements.

Penalty for Defaults

If loan repayments are delayed, loan applicants may be liable to pay a penalty fee. Piramal Finance charges a default penalty of Rs. 500 plus applicable taxes.

Penalty for Prepayment and Part Payment of Loan

If loan applicants want to repay the loan before the end of the loan tenure, they may be required to pay a penalty fee. Piramal Finance charges 4% of the loan principal amount plus applicable taxes as a penalty for prepayment and part payment of a loan.