What are emergency loans?

1) It is a type of personal loan which is unsecured and can fund unexpected situations.

2) This type of loan is disbursed either on the same day or within a few days after approval.

3) Such loans can be applied online by filling forms and uploading relevant documents.


4) Most of the time these loans are unsecured and do not need any collateral.

5) The rate of interest depends upon the credit score, relationship with the lender, tenor and the loan amount.

(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)