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Get an Emergency Loan Online

In times of financial crisis, many people turn to emergency loans to quickly access funds. Traditional personal loans can often take days or even weeks to process, leaving individuals in urgent need of cash stranded. When you need an urgent personal loan, a smart personal loan like FIRSTmoney can be a lifesaver. It offers a quick and easy solution for meeting urgent cash needs.

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What is an Urgent Personal Loan from FIRSTmoney?

An urgent personal loan from FIRSTmoney allows you to borrow up to ₹10 lakh instantly, making it a unique and flexible loan option. In contrast to traditional loans, FIRSTmoney offers instant approvals with zero physical documentation, flexibility to obtain additional funds, and zero foreclosure benefits if you ever choose to close your emergency loan before maturity. These features make it an affordable option for emergency situations. You will always have access to a predetermined loan amount at any time in case of an emergency.

One of the biggest advantages of taking an emergency loan from FIRSTmoney is the speed at which you can access the funds. The application takes a few minutes and can be completed in just five steps. You can use the funds as a safety net for emergencies, ensuring you can get money in your account within seconds when you need an urgent loan online.

Features of FIRSTmoney Emergency Loan

Zero Foreclosure Charges

Zero Foreclosure Charges

Say goodbye to foreclosure charges and repay your outstanding emergency loan amount whenever you want without worrying about additional fees.

Flexible loan repayment options

Flexible loan repayment options

Enjoy customizable emergency loan EMI repayment options, with flexible tenure choices to suit your financial situation, perfect for those seeking an urgent personal loan.

Swift disbursal

Swift disbursal

Our advanced technology ensures a quick, paperless process with swift fund transfers directly to your bank account.

Lower Interest Rates

Lower Interest Rates

Avoid the high interest rates of credit cards with FIRSTmoney, where emergency loan interest rates start at just 9.99%.

Greater Flexibility

Greater Flexibility

Enjoy the flexibility to obtain additional urgent loans like never before. With just a few clicks, get extra funds anytime to meet your financial requirements during emergencies.

Benefits of FIRSTmoney Emergency Loan

Protect your savings

Protect your savings

Instead of depleting your savings and retirement fund, a FIRSTmoney emergency loan allows you to keep your savings intact while addressing the financial emergency.

Financial safety net

Financial safety net

Instant loans from FIRSTmoney act as financial safety net against various emergencies, and you can use the funds for any purpose without constrains to deal with your financial urgencies.

Get Up to ₹10 lakh Emergency Loan

Get Up to ₹10 lakh Emergency Loan

Get an emergency loan offer of up to ₹10 lakh, allowing you to finance unexpected expenses such as medical bills, relocation, and car repairs.

Emergency Loan Interest Rates and EMIs

FIRSTmoney offers emergency loans online at competitive interest rates to meet your urgent loan needs without hassles. These loans are ideal for accessing emergency funds quickly and conveniently. However, interest rates may vary based on the loan amount and tenure, ensuring flexibility. For accurate estimates, use a personal loan EMI calculator. Below are the interest rate charges and EMI details

Interest Rates for FIRSTmoney Emergency Loans
 

Types of fees Applicable charges
Emergency loan interest rate Starting at 9.99%
Processing fees Processing fees of up to 2% will be deducted from the emergency loan amount at the time of disbursal
Late payment fees 2% of the unpaid EMI
Stamping charges As per actuals
Foreclosure charges Nil
EMI bounce charges ₹500
Cheque or mandate swap charges ₹500
EMI pickup or collection charges ₹500
Physical statement of account / Repayment schedule ₹50

 

Emergency Loan Eligibility and Documentation

Eligibility Criteria for Emergency Loan Online

Eligibility criteria for FIRSTmoney emergency loan:

  • eligibility Employment: Salaried and Self-Employed Individuals
  • eligibility Age: 21-60 years
  • eligibility CIBIL Score*: 730+
Required Documentation for Emergency Loan Online
  • documentation Display your physical PAN card for Video KYC (VKYC) during the urgent loan application.
Eligibility

Steps to Apply for a FIRSTmoney Emergency Loan Online

Step 1

Scan the QR code to apply for an emergency loan

Step 2

Register with your mobile number

Step 3

Confirm basic details to check your eligibility

Step 4

Choose your loan preferences and link your bank account

Step 5

Once verified, receive the urgent loan amount in your account within 24 hours

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Personal Loan for Emergency - Fees and Charges

Personal Loan for Emergency - Fees and Charges

Enjoy competitive interest rates and minimal charges

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Factors to Consider While Taking an Emergency loan

When applying for an emergency loan, consider the following five factors:

  1. Interest rates: Assess the interest rates offered, as higher rates can significantly increase the total repayment amount.
  2. Repayment terms: Review the emergency loan tenure and EMI structure to ensure manageable monthly payments.
  3. Loan amount: Ensure the emergency loan amount meets your emergency needs without borrowing excessively.
  4. Processing time: Choose lenders with quick approval and disbursal processes to access funds promptly.
  5. Fees and charges: Be aware of any additional costs, such as processing fees or prepayment penalties, which can impact the overall cost of the emergency loan.

Frequently asked questions

What is an emergency loan?

An emergency loan or urgent loan is a short-term financial solution designed to provide fast access to funds without going through the lengthy personal loan application process. The FIRSTmoney smart personal loan offers up to ₹10 lakh urgent loan to manage unforeseen expenses.

What are the eligibility criteria for an emergency loan?

To be eligible for an emergency personal loan like FIRSTmoney, you need a good credit score (730+), employment (whether salaried or self-employed), and be between 21 to 60 years of age.

How quickly can I get an urgent loan online?

With FIRSTmoney, the application process is completely online, ensuring swift approval and fund disbursal. You can receive an urgent loan online within a few hours by following these easy steps: scan the QR code, register, confirm your details, and complete the KYC process.

Can I use an urgent personal loan for any purpose?

Yes, there are no restrictions on how you can use the funds from your urgent personal loan. Whether it’s for medical emergencies, home repairs, or any other immediate need, FIRSTmoney gives you complete flexibility.

What factors affect the interest rate on an emergency loan?

The interest rate of an emergency loan depends on several factors, including your credit score, income, employment status, emergency loan tenure, and the bank’s prevailing interest rates. With FIRSTmoney, you can enjoy rates starting from just 9.99% APR.

Can I apply for an emergency loan online without collateral?

Yes, IDFC FIRST Bank’s FIRSTmoney emergency personal loan requires no collateral, making it a hassle-free and secure option for obtaining urgent funds online.

What is the maximum amount I can borrow as an emergency loan?

You can borrow up to ₹10 lakh as an emergency loan with FIRSTmoney, depending on your eligibility. You can also avail more funds easily with just a few clicks to meet additional cash requirements.

How can I repay my urgent loan?

FIRSTmoney offers flexible repayment options, allowing you to choose an EMI structure that fits your financial situation. You can repay your urgent loan in full or in EMIs without worrying about prepayment penalties.

What is the interest rate for debt emergency loan?

The personal loan interest rate for an emergency loan at IDFC FIRST Bank start at 9.99% per annum. However, the final rate can vary based on factors like your credit history, income level, and the loan tenure.

How do emergency loans work?

IDFC FIRST Bank offers an emergency loan through its FIRSTmoney product, which allows you to access funds quickly without collateral. The application process is fully online, enabling swift approval and disbursal of funds, often within a few hours. You can borrow up to ₹10 lakh, and the loan can be used for various urgent needs, such as medical expenses, home repairs, or unexpected bills.

Can I get an emergency loan with bad credit?

While having a good credit score (typically above 730) improves your chances of approval and better interest rates, IDFC FIRST Bank may still offer emergency loans to individuals with lower credit scores. However, the terms may vary, and you might face higher interest rates.

Do emergency loans affect my credit score?

Yes, applying for an emergency loan can impact your credit score. A hard inquiry is made when you apply, which may slightly lower your score. However, timely repayments can help improve your credit score over time. Conversely, missed payments can negatively affect your credit standing.

Why is the active loan offer not revised immediately after paying an EMI?

The active loan offer will only be revised after the full repayment of the loan amount.  Once you pay all your EMIs of the borrowed amount, the approved amount will be replenished to the initial principal loan amount.

Suppose you get an approved loan amount of ₹5 lakhs and withdraw ₹1 lakh; you will have access to funds of ₹4 lakhs. However, However, your approved limit will be replenished to ₹5 lakhs only after the 1 lakh amount and the associated interest is paid off fully.

More FAQs

Choose your personal loan amount with FIRSTmoney

₹5 lakh Personal Loan
₹5 lakh Personal Loan ₹5 lakh Personal Loan
₹4 lakh Personal Loan
₹4 lakh Personal Loan ₹4 lakh Personal Loan
₹3 lakh Personal Loan
₹3 lakh Personal Loan ₹3 lakh Personal Loan
₹2 lakh Personal Loan
₹2 lakh Personal Loan ₹2 lakh Personal Loan
₹80000 Personal Loan
₹80000 Personal Loan ₹80000 Personal Loan
₹70000 Personal Loan
₹70000 Personal Loan ₹70000 Personal Loan
₹60000 Personal Loan
₹60000 Personal Loan ₹60000 Personal Loan
₹50000 Personal Loan
₹50000 Personal Loan ₹50000 Personal Loan

Different Types of Personal Loan for you

Travel Loan

Travel Loan

Your dream vacation shouldn’t have to wait and with a FIRSTmoney travel personal loan, it doesn’t have to. Whether you're planning a romantic escape, a solo backpacking trip, or a family holiday, this loan helps you book flights, hotels, and experiences without worrying about upfront costs. With minimal documentation, flexible tenures, and competitive rates, you can focus on packing your bags while we handle the finances.

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Emergency Loan

Emergency Loan

When you face the unexpected, a FIRSTmoney emergency personal loan helps you bounce back with confidence. Whether it’s a sudden medical need, urgent repairs, or any unplanned expense, our smart loan offers instant relief without paperwork stress. Quick processing, no hidden charges, and flexible EMIs make it your financial cushion when life throws a curveball.

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Wedding Loan

Wedding Loan

Don’t let budget limits overshadow your big day! With a FIRSTmoney wedding personal loan, celebrate without compromise. Cover everything from designer wear and photo shoots to venue decor and guest stays without exhausting your funds. Our loans are crafted for couples seeking financial flexibility and a smooth planning journey, so your focus is creating memories that last.

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Medical Loan

Medical Loan

Focus on healing, not worrying about your hospital bills. A FIRSTmoney medical personal loan gives you the immediate financial support needed during health emergencies. Whether it’s surgery, treatment, or therapy, access funds quickly with our fully digital process and stress-free approvals. No collateral, no waiting – just help when you need it most.

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Home Improvement Loan

Home Improvement Loan

Turn your renovation plans into reality with a FIRSTmoney home improvement personal loan. Whether you're adding a modular kitchen, redoing your flooring, or furnishing your space, this loan helps you bring your vision to life without compromising your savings. Benefit from fast approvals, easy EMIs, and the freedom to enhance your home, your way.

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