How to Deal With a Financial Crisis Using Emergency Loans

An emergency can strike anyone without warning. Whether it’s a wedding crisis, medical emergency, home renovation or anything else, it does not matter how prepared you are. There are many situations where you might require a substantial amount of money at very short notice. There are limited options as you try to get yourself out of this situation. 

The first is to dip into your emergency savings and deplete them entirely. This option will negatively impact your long-term saving plans and investments. The other option you have is to borrow money from friends and family or sell off assets. Getting emergency loans online can prove to be a highly profitable and beneficial third option for you.

What is an Emergency Loan?

Using a personal loan to meet emergency financial needs is a popular way to meet immediate monetary requirements. An emergency personal loan can be used in any way you deem fit and for any purpose. A personal loan lender does not monitor how the funds are used. 

An emergency loan is essentially a SMFG India Credit personal loan. You can avail this loan instantly without having to leave your home and without providing any collateral. SMFG India’s Credit emergency loans online have affordable interest rates that start from 11.99%. 

Borrowers can repay this loan easily with flexible tenures ranging from 12 to 60 months. Getting an emergency loan is an efficient and cost-effective way to get quick access to extra funds without any risk to your assets. 

With minimal personal documentation and easy loan eligibility criteria, you can get a SMFG India Credit emergency loan approved and disbursed in less than a week.

Benefits of a SMFG India Credit Personal Loan:

1. No collateral needed

A personal loan is an unsecured financial tool. You don’t need to mortgage any assets or property to get approval for a loan. This reduces the level of risk involved in taking a loan. 

2. Get higher loan amounts disbursed

At SMFG India Credit, you can get up to Rs. 25,00,000 as personal loans. This allows borrowers to pay for all their needs and requirements without any hassle. From family vacations, hospitalisation expenses or home makeovers, getting a personal loan during an emergency is the best way to go.

3. Attractive rates of interest at 11.99% p.a.

The biggest drawback of personal loans is the high interest rates that they come with. SMFG India Credit provides highly competitive interest rates on their personal loans, as low as 11.99% per year. 

Before you borrow the loan, you can use their personal loan EMI calculator online available on their website. Whether you get this interest rate or higher will depend on factors like your credit score, fixed income and credit history.

4. Quick loan disbursal

A personal loan is generally unsecured. This means the disbursal and approval of the loan won’t take too long. This is a huge benefit if you apply for a personal loan during festivals, for medical emergencies or any other urgent cause. 

After quick verifications and checks, you can get your loan approved and disbursed in a matter of hours. If you meet the eligibility criteria for the loan, your documentation verification will go smoothly. After this, the loan gets approved and funds get disbursed quickly into the borrower’s bank account. 

5. Digitised application process for the loan

Since the dawn of the global COVID-19 pandemic, people are more comfortable filling applications and completing tasks from the comfort of their homes. 

The SMFG India Credit personal loan application process can be completed online from start to finish. With just a few clicks and taps, you can get the loan and interest rate approved based on your credibility and eligibility. 

How to Apply for an Emergency SMFG India Credit Personal Loan:

With more people preferring to complete the loan application online, you can apply for a personal loan directly on SMFG India Credit website.

Once you start the application process online, all you need to do is upload your scanned documents and ID proofs to the web page. 

When you send out the application, you get regular updates on your eligibility and your loan application status. An eligible applicant is given a tracking ID that helps them track their application’s status on the SMFG India Credit website at any time. Finally, a finance executive calls you to understand your needs and guides you to the end of the process. 

Conclusion

Make sure you use the personal loan EMI calculator online to understand your total expense with the emergency personal loan. To start your loan application process immediately, get in touch with the team at SMFG India Credit today.