The key step during a financial crunch is to not panic but carefully consider all the options you have available. You can opt for emergency Personal Loan during an illness in the family which will help you tide over hospital expenses. You can decide between secured and unsecured loans and apply online for a Personal Loan. A secured loan has options like loans against the gold you own or against your property. You can even ask for loans against any mutual funds, stock or shares that you may have invested in. Bajaj Finserv lets you get a Loan Against Securities, which you can avail during the time of need. You could also choose an unsecured loan option like credit cards or a Personal Loan, depending on your ability to repay.
Types of Loans in Case of Emergency
Indian consumers are known for investing in property and gold and consider it a safe option and your gold purchases will certainly come in use during an emergency. You can get a loan against any idle gold you have and get your precious jewellery back on repayment of the loan. You can also make use of any investments in insurance policies or mutual funds and get a loan by pledging them. A third option for a quick solution is to get a credit card. For urgent credit requirements, this form of unsecured loan works well. You can also make use of your investment in real estate and pledge any property you own to get an urgent loan against it.
Personal Loans Available Online
Personal Loans are suitable for medical emergencies, urgent travel abroad, weddings in the family, loan for higher education, or to tide over a cash-strapped situation. You can get an online approval for a Personal Loan within minutes thanks to Personal Loan from Bajaj Finserv. You also get attractive Personal Loan interest rates ,making repayment easier. A Personal Loan is a sound option when you don’t want to pledge any property or security. The time taken to process a Personal Loan is also shorter as minimal documents are required.
Avail a Loan Against Your Securities
If you have made sound investments in mutual funds, bonds, insurance or fixed deposits, they can be used in case of an emergency. Without dissolving the deposits or policies, you can ask for a loan against them. A loan against fixed deposits usually has a better interest rate as compared to a Personal Loan. Bajaj Finserv brings to you the option of a Loan Against Fixed Deposit guaranteed to have quick approvals.