5 quick personal loans for emergencies
What's the story
In India, personal loans are a quick way to deal with emergencies. They are unsecured, which means you don't need to pledge collateral, and the application process is pretty quick. Here are five personal loans that can be a lifesaver during urgent financial needs, with a focus on their features, benefits, and what to keep in mind before you apply.
#1
Instant personal loan from HDFC Bank
HDFC Bank provides instant personal loans with minimal paperwork and quick disbursal. The loan amount can go up to ₹75 lakh, depending on your eligibility. The interest rates start from 10.5% per annum, which is competitive in the market. The bank also offers flexible repayment options of up to five years, making it easier for borrowers to manage their finances.
#2
ICICI Bank personal loan for emergencies
ICICI Bank's personal loan for emergencies is designed to meet urgent financial needs without any collateral. The maximum loan amount goes up to ₹50 lakh with interest rates starting from 10.99% per annum. The bank promises quick approval and disbursal within 24 hours, provided all documents are in place.
#3
SBI Xpress Credit loan option
State Bank of India's Xpress Credit is a pre-approved personal loan for SBI account holders, based on their credit history and account transactions. The maximum loan amount can go up to ₹20 lakh with interest rates starting from 10.5% per annum. The repayment period is flexible, ranging from one year to five years.
#4
Axis Bank Instant Personal Loan offering
Axis Bank offers an instant personal loan with minimal documentation and quick processing times, often within a few hours of approval. Borrowers can avail of loans up to ₹50 lakh at interest rates starting from 10.49% per annum. The bank also offers an online application process, making it convenient for those in need of immediate funds.
Tip 5
Kotak Mahindra Bank quick personal loan solution
Kotak Mahindra Bank's quick personal loan solution caters to those looking for fast access to funds during emergencies. The bank offers loans up to ₹40 lakh at competitive interest rates starting from 10.99% per annum, with flexible repayment tenures of up to five years, making it an attractive option for many borrowers across India.