Emergency Loans In India: How To Apply For Urgent Loans

Personal Loans

Any unforeseen situation, like sudden medical needs, an urgent requirement for new equipment in the business, or other such events disturb the peace of mind and mark a dent in your financial stability. In such situations, the emergency personal loan can aid you in sailing effortlessly through tough times. 

Read on to know about Emergency Loans in India, how to apply, benefits and eligibility criteria. Read on!

What is an Emergency Loan?

An emergency loan is basically an unsecured personal loan that you can use to meet urgent financial requirements. You can use an emergency loan to pump additional funds into your business, mitigate cash crunch during a wedding, and meet medical expenses, to name a few.

An emergency loan from Navi can help you sail through tough financial circumstances without letting go of your investments and assets. Also, since emergency loans are personal loans, you don’t need collateral or a guarantor while applying.

Navi Personal/Emergency Loan Fees and Charges

Simple Steps to Apply for Emergency Loan

You can follow these steps to apply for an emergency personal loan:

1. Visit the lender’s website or app
2. Select the loan amount, tenure and interest rate
3. Fill in your basic details like name, age, address, marital status, employment details, income details, and others
4. Complete your eKYC with PAN and Aadhaar
5. Submit any other documents, if required
6. Click Apply
7. If you’re eligible, you can get the desired amount disbursed into your account

With Navi, the application process for a personal loan is much simpler. All you need to do is register and complete the KYC. Navi will check your credit score, eligibility and repayment capacity and will show you the amount you’re eligible for. If you’re satisfied with the amount, you can proceed to the final step to get the loan disbursed into your account.

Benefits of an Emergency Loan at Navi

There are numerous benefits of availing of an emergency loan online through Navi, like:

• Truly paperless: You don’t need to submit any document while applying for an urgent loan at Navi. To apply for an emergency loan online through the Navi app, fill in your PAN number, and Aadhaar Card number, and take a selfie.
• Hassle-free transaction: Once you submit the loan application and it is processed, the amount will directly be disbursed into the bank account that you have furnished. The EMI amount will also be deducted from the same bank account monthly.  
• EMI calculator: We also offer an online loan EMI calculator that you can use for the calculation of your net EMI amount that you need to pay every month. You can customize the loan amount and the tenure as per your requirement. Check out our EMI calculator for the assessment of your EMI. 

How Can an Emergency Loan from Navi Come to Your Rescue in Tough Times? 

Accidents or malicious events don’t occur with a prior warning. Imagine a situation where one of your family members has met with an accident or one of the machines at your business has suddenly broken down; the emergency loan from Navi will come in handy in those unprecedented times. Here are a few key differentiators of Navi that might persuade you to consider us for the urgent personal loan:

• Need-specific loan amount: We offer loan amounts that are well-equipped to meet your urgent financial needs. At Navi, you can avail of an emergency loan ranging between Rs. 100 to Rs. 500,000 or even higher.
• AI-based eligibility check: We make sure that the urgent loans are approved in almost no time. Leveraging AI technology, your loans are processed in real-time, and the amount is credited to your bank account instantly.
• Flexible repayment: We provide ample time to the borrower for hassle-free settlement of the loan amount. You can choose the monthly EMI and time duration ranging up to 36 months to repay the urgent personal loans with Navi.
• High availability: You can secure an emergency loan at any time as per your need, and since the loan amount is comparatively low, it will be available to you in under 10 minutes.
• Loan without collaterals: The urgent loans are unsecured loans, and you don’t need any collateral for that. There is no requirement for any guarantee as well for borrowing the emergency loans.

Eligibility for Availing an Emergency Loan from Navi

Documents Required to Apply for an Emergency Loan

To avail of an emergency loan, you need the following documents:

For Salaried

• Address proof – Driving license, Voter ID, ration card, etc
• ID proof – Aadhaar card, PAN card, voter ID, etc
• Income proof – Last 3 months’ salary slips
• Passport-size photographs

For Self-employed

• Address proof – Driving license, Voter ID, ration card, etc
• ID proof – Aadhaar card, PAN card, voter ID, etc
• Last 6 months’ bank statements
• Last year’s ITR
• Business proof (if applicable)
• Passport-size photographs

However, with Navi, you only need to complete your KYC verification with your Aadhaar and PAN card to avail of a personal loan. 

Final Word

A personal loan during an emergency situation is helpful and reduces financial stress. If you need an emergency loan, a personal loan is a viable option. For a hassle-free and paperless process, install Navi on Android or iOS and get your loan approved instantly.

FAQs on Emergency Loan

Before you go…

Looking for instant 🚀 personal loans 24*7 anywhere, anytime? Get personal loans up to ₹20 lakh starting at 9.9% p.a. Install the Navi app now!

Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article. 

Explore Personal Loan Offers in Your City