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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Enjoy quick, paperless disbursal in a few clicks
with IDFC FIRST Bank Personal Loans
EMI starting at ₹2,149/Lakh
Enjoy quick, paperless disbursal in a few clicks
with IDFC FIRST Bank Personal Loans
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Competitive interest rates starting at 10.49%
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Completely digital, paperless online process
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Balance transfer of existing Personal Loans and Credit Cards at affordable rates
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Flexible tenure up to
60 months
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Competitive interest rates starting at 10.49%
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Completely digital, paperless online process
-
Balance transfer of existing Personal Loans and Credit Cards at affordable rates
-
Flexible tenure up to
60 months
Personal Loan for Emergency
An unsecured personal loan can act as an emergency loan, which can fund unexpected situations. They are typically swift, with deposits arriving within a day or two of loan approval. Some lenders fund emergency personal loans the same day you apply. You will not have to submit any collateral to acquire an emergency personal loan, because they are usually unsecured.
Some lenders offer secured personal emergency loans online, which require borrowers to set aside resources to borrow money, such as home equity and savings account deposits. Because personal loan requirements differ from one lender to another, weigh each alternative individually.
When considering lenders, evaluate how much you need to borrow, the fees, the minimum credit score, and income restrictions. For the quickest results, try to avail of an emergency loan online. These loans can be used as emergency medical loans when urgent money is needed.
Features
You can apply for a personal loan for emergencies whenever you need money urgently. However, ensure you check the bank's emergency loans interest rates before applying for emergency loans online. A personal loan for emergency comes with the following features and benefits:
Competitive interest rates. Personal loan for emergency interest rates at IDFC FIRST Bank begin from 10.49%.
Digital, paperless online approach. You can apply for an emergency loan without moving out of your house. Upload your documents on the bank's website and wait for verification. If your papers pass the verification, you will get the loan amount in your bank account within hours.
Flexible repayment term. IDFC FIRST Bank offers a 60-month flexible term on emergency loans, which is more than most banks in the country.
To qualify for emergency loans, you do not need a guarantor. If your papers are in order, you can get the loan.
Foreclosure of personal loan can be availed anytime post repayment of Six EMIs of loan. However you will be charged 5% of principal outstanding at the time of foreclosure.
You can get an emergency loan amount of up to ₹40 lakhs in just 48 hours. The money can be used for whatever your need is. The bank does not put any restrictions on how you use this amount.
IDFC FIRST Bank offers 50% off on processing fees.
Eligibility
Who Can Apply
For salaried individuals:
- Minimum age: 23 years
- Maximum age: at the time of loan maturity - 60 years or retirement, whichever comes first
For Self-employed Individuals:
- The business must have been in existence for a minimum period of 3 years
- Minimum age: 25 years
- Maximum age: 65 years at the time of loan maturity
Documentation
After checking your eligibility and comparing the emergency loan interest rates offered by the various banks, you can apply to the bank of your choice by submitting the following documents online:
- Valid KYC (PAN card, Aadhaar card, passport, driver’s license, and so on)
- 3 months’ bank statement
- Net Banking or Debit Card details to set up e-Mandate
- E-Sign/E-stamp for faster disbursal
How to apply for Emergency Loans?
The process of applying for emergency loans is simple. With IDFC FIRST Bank, the loan application process is completely online. Begin by checking the eligibility criteria and see if you fit the bill. If you do, you can apply for a loan. To apply for an emergency loan, follow these steps:
Step 1
Log into the bank’s loan app
Step 2
Click on the apply button
Step 3
You will be directed to a page, where you will need to fill in your details.
Step 4
Upload your documents, such as your KYC documents and income proof.
Step 5
The bank will verify your documents and evaluate your loan application.
Step 6
Once it is done, you can receive the personal loan amount in your account within 24 hours.
Personal Loan - Interest rates and Charges for Emergencies
Personal loan interest rates and other charges, as offered by IDFC FIRST Bank in emergencies loans, are as follows:
FREQUENTLY ASKED QUESTIONS
What is an emergency loan?
An emergency loan is a loan that you can use to get out of a financial bind. It is an unsecured personal loan that does not need any form of security and can be utilised to cover a variety of personal emergencies. When unexpected financial costs arise, such as medical bills, tuition expenditures, or even wedding expenses, you can take out an emergency loan.
What are the eligibility criteria for an emergency loan?
The eligibility criteria for an emergency loan with IDFC FIRST Bank is:
For salaried individuals:
- • Minimum age: 23 years
- • Maximum age: at the time of loan maturity - 60 years or retirement, whichever comes first.
For self-employed individuals:
- • The business must have been in existence for a minimum period of 3 years.
- • Minimum age: 25 years
- • Maximum age: 65 years at the time of loan maturity.
What are the uses of emergency loans?
An emergency loan can be used if an unprecedented expenditure comes up. It can come in the form of a medical emergency, a wedding, and sudden home repairs. There is no restriction on how you use the loan amount.
How much loan amount can I take for an emergency loan?
You can get an emergency loan of up to ₹40 lakhs with IDFC FIRST Bank. The amount sanctioned will be dependent on your credit score and if you fulfil all the eligibility criteria.
How do I get emergency money?
You can avail of emergency loans to fund unplanned expenses. Download the IDFC FIRST Bank app and apply for a personal loan. Post verification, you should have the loan amount in your account within 24 hours.
