₹24,959
Loan EMI
₹34,90,279
Total Interest Payable
₹59,90,279
When you are caught in an emergency, such as an unexpected car repair, or medical bills, it's not easy to come up with cash or funds right away. While having an emergency fund is one of the best ways to deal with an emergent situation, most people don't have any extra cash—let alone enough to take care of an emergency. Fortunately, emergency personal loans can help.
A quick personal loan from MoneyTap’s line of credit gives you access to cash when you need it the most. MoneyTap's emergency personal loans are quick – approvals done in a few minutes and disbursal done within a few days. Once your line of credit is approved, you don’t need to reapply, so it truly serves as instant emergency personal loan – when you need it, each time you need it. You just have to ensure that your credit line has funds remaining. Additionally, the affordable interest rate and flexible loan tenure make it more of a convenience and less of a financial burden.
Read more +Shailesh (name changed) is 26 years old and lives with his pregnant wife in Vishrantvadi, Pune. When his wife was 5-months pregnant, she developed some complications, which needed urgent hospitalisation. He needed ₹ 50,000 urgently to cover the medical costs. He didn't have the cash, or health insureance to cover the bills, but his need was urgent, and unfortunately, banks take a long time to disburse such a small amount of loan.
Shailesh had heard of MoneyTap via a friend and applied for it and was approved for a personal loan for 50,000 a few months back. So, he turned to his credit line and MoneyTap quickly disbursed the emergency loan. Thanks to the easy process, Shailesh was helped in a timely manner. More, importantly, both his wife and baby were taken care of.
Like Shailesh, you could also encounter emergencies where might need emergency loans. Listed below are some common situations where an emergency personal loan might be needed.
No matter how hard we try to stay healthy and fit, some health or medical emergencies are beyond our control. You or a family member can face a medical emergency.
A major medical emergency may involve the cost of an ambulance, major surgery, and post-surgery hospitalisation and therapy. Depending on how severe the medical emergency is, the medical expenses can easily go above ₹ 1 Lakh possibly even more. An insurance cover may not suffice to pay for the whole expense. The rising medical bills can keep you awake at night while you dig deeper into your wallet.
Thankfully, an emergency loan can cover the costs, allowing you more time healing or caring and less time being stressed about money.
A sudden loss of a job can not only be devastating, but also financially, emotionally, and mentally crippling. Coping with the ever-rising cost of living without a job in hand can cause tremendous financial strain.
In an event like this, when you may not have saved up to cover your essential expenses, an emergency loan can help cover the expenses until you get another job.
Some home repairs may be sudden and costly. For example, repairing a broken water heating system can easily cost you ₹ 10,000. While this amount is not accounted for in your monthly budget, an emergency 10,000 personal loan is a great way to cover this cost.
Costly car repairs can happen at the worst times. Some repairs can be expensive enough to cause a significant dent in your financial budget. An emergency loan can take care of the repair costs without straining your budget.
There are times when you will need to travel on super short notice. Say there was a death of a loved one, as sad as it is, its ineveitable and at such a time, you will need to travel with family or alone. Another reason could be an event like a wedding or a celebration in the family can come along that you need to travel for. A last-minute round trip flight, combined with other expenses that may occur along the way, can easily cost you above ₹ 20,000. This might significantly dent your budget because these are the costs that you had not anticipated. In such situations, In such situations, an emergency 20,000 personal loan from MoneyTap can help.
Sudden death in the family can be crippling emotionally and financially. When grieving the loss of a loved one, no one wants to worry about money. Yet many people are not financially prepared for putting up a funeral. An emergency personal loan can take away the stress of funeral costs and rescue you financially in such a testing time.
A sudden relocation from one place to another can be costly. This may happen when your employer relocates to a new office, or you have got a new job offer in a company that's based in another location, etc. An emergency loan can help avoid the financial stress associated with the move, help you with rent deposits, moving expenses, purchases that you might need to make, etc.
Offers quick access to funds when in an emergency situation
No need to liquidate your investments
Get funds while on the move, 24/7
Competitive interest rates
Pay interest only on the amount used
Get approved for an emergency loan within 4 minutes through online application and minimum documentation.
Borrow any amount from ₹3,000 up to your approved credit limit as many times you want. Pay interest only on the money you borrow.
Enjoy low-interest rates starting at 1.08% per month applied only on the amount you borrow.
Get a complimentary MoneyTap-RBL Credit Card* loaded with features, benefits, and rewards to use your approved credit limit for online & offline purchases, allowing you the option to convert your purchases into EMIs.
Choose the repayment schedule that you are most comfortable with. Flexible repayment option ranging from 2-36 months.
Manage your account through our easy-to-use mobile app without any hassles and from the safety of your home.
Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.
After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.
Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.
The interest rate applied on MoneyTap's emergency personal loan will depend on your credit score and typically ranges from 13% to 18% per annum. The interest rate will be shown to you with your EMI amount on the app after the loan is approved.
With MoneyTap's emergency loan, you have the advantage of paying interest only on the amount you borrow from your approved credit limit.
₹24,959
₹34,90,279
₹59,90,279
With MoneyTap’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.
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