Denice R. Preston
A modern lifestyle can be a financial burden. It is difficult for salaried professionals who earn a salary to survive the rising costs of goods and services. Unexpected financial emergencies can strike without warning. You need to be able to pay unexpected expenses.
An emergency loan can help you get out of the cycle of debts, whether it’s a financial emergency or credit card bills. You are concerned about the lengthy process of applying for personal loans. It is not something you want to do for over a week.
To get medical emergency treatment quickly, you will need an urgent loan. You don’t have the time to wait to get funds. LoanTap offers an instant personal loan that is faster than other NBFCs. Borrowers will receive funds within 24 hours.
What’s an Emergency Personal Loan?
A personal loan can be used to get cash into your bank account quickly. This reduces the need to wait for cash. The application process for an emergency loan is quick and easy.
A quick emergency loan is a convenient and reliable way to pay unexpected expenses. Salaried or employed employees can use an instant emergency loan with a steady income to pay the bills.
LoanTap’s Personal Emergency Loan
Borrowers often have a difficult time choosing the right lender. Lenders may offer loans at higher interest rates. If borrowers cannot repay all the loan amounts, it can lead to a lot of debt.
Quick disbursal: If you need a loan quickly, this is the right place. Personal loans allow borrowers to receive the loan amount in as little as 24 hours. This makes them very useful for those who are in urgent financial need. Online application is possible from your home. We will quickly disburse cash if you have a track record of good credit and repayments.
100% Secure All of the process can be done online and is easy to access. However, the main concern when you apply for a personal loan online is security. LoanTap offers fast and secure loan processing for borrowers. We will not share your bank and personal information.
Minimum Documentation: An unsecured personal loan that allows for minimal paperwork and requires little effort. Borrowers will need to upload documents such as Aadhar Card and Driving license, payslips, etc.
Pocket-Friendly: LoanTap is a mobile application that makes it easy to access financial products. All you need to apply for loans is your smartphone. We will approve your loan immediately if you meet the eligibility criteria.
Why choose LoanTap to get an emergency personal loan?
LoanTap believes in a quick and easy process for personal loans. To get the fastest loan disbursal, you can visit our website and download the Android App. LoanTap offers many other outstanding benefits, including getting emergency loans quickly.
Sufficient Loan Maximum: LoanTap lets you borrow between INR 50,000 to INR 10,00,000. You can specify the amount you need to meet your financial needs.
Flexible Repayment Terms: Feeling burdened by the monthly loan payments can make you feel overwhelmed. LoanTap is sensitive to the financial needs of its customers. We understand their struggles with managing expenses. We have reduced the monthly payment for the first three months, then fixed EMIs. The borrowers have more flexibility in managing their repayments.
Affordable Interest Rates Monthly repayments will increase due to the interest rate on principal. LoanTap provides a loan at lower interest rates starting at 1.5% per month. Borrowers no longer have to sacrifice their monthly expenses and can better manage their cash flow.
Personal Loans for People with Low Credit Scores: Your Credit Score is vital in obtaining any personal loan online. Loan approval is faster if you are credible. However, some borrowers might have a lower credit score for certain reasons. These borrowers may have difficulty getting financial products. LoanTap allows you to get a loan even if your credit score is 580-630.
No Collateral Required: A personal loan is a loan that does not require collateral. This explains everything. Borrowers don’t need to provide collateral or a guarantor. LoanTap can lend you money if you meet all the eligibility requirements and have completed the document verification.
Three customized options to make it easier for you to pay your bills
EMI Free
This repayment option allows you to pay interest only each month. This repayment option is combined with Bullet Payments every 3/6 months towards the principal. Borrowers pay 40% less for this option than regular EMI. This option is great for borrowers eligible for a bonus or other incentive every 3 to 6 months.
Step up
The Step-up loan allows you to pay interest only for three months, then fixed EMI. This loan helps you manage your other expenses after an event. This loan option is ideal for those with large expenses to cover.
Term Loan
This term option allows borrowers to repay in FixedEMI. Each payment decreases both principal and interest amounts. This is an excellent option if you know exactly the Loan Amount.
Personal Loan Overdraft Facility
This option is available to borrowers who don’t need the entire loan amount at once but are spending it over some time. They can be charged interest on personal loan overdrafts if they are approved.
Do you qualify for an emergency loan?
You have learned a lot about the Emergency loan and how it works. Now you want to know if you are eligible for this personal loan. To get an emergency loan in India, you need to meet the following criteria:
- You must be at least 21 years old.
- Indian citizens or residents are required
- Your monthly net salary should exceed INR 30,000/-
- You must be a salaried full-time employee.
Once approved for the loan, ensure that you have all the necessary documents to complete KYC documents. Below is a list of documents that are required:
Proof of Identification: Applicants must have a Voter ID/Passport/Driving License/Aadhaar card
Proof of Address: All applicants should have a Passport/Electricity Bill/Ration Card.
Proof of income: A salaried worker should have at most three months of salary slips. If you are self-employed, you must show proof of income for three to six months.
All you need to apply for a personal loan is the mobile application or LoanTap website. How do you apply? Scroll down!
How to Apply For An Emergency Loan From LoanTap
LoanTap makes the loan process simple and quick. You can easily apply online for personal loans. Follow these steps to obtain an urgent personal loan.
- Install the LoanTap app from Google Play Store or visit the page https://LoanTap.in/apply to apply online.
- Complete the loan application form with basic information, employer details, and bank information.
- Set the tenure you desire and enter how much.
- Send the documents to the team or submit them electronically.
- After you have completed the KYC, your loan will be approved.
