Emergency Loan :
Banks in India are a challenging task, especially during emergencies, getting loans is even more difficult. This process is often complex and time consuming. However, there are certain offers and apps that can help you get instant and emergency loans without the need for excessive documentation. Unfortunately, many people do not have proper knowledge about these options. To solve this problem, we have explained the process of taking an emergency loan in detail below in an easy way.
Emergency loan: Government banks are giving loans at low interest rates
Bank of Baroda, one of the most popular banks in the country, offers personal loan options where you can borrow up to Rs 5 lakh for a tenure of five years. The interest rate charged for this loan is 10.2%. To repay this loan, you will have to pay a monthly EMI of Rs 10,673.
Apart from this, currently Bank of India (BOI) is also providing personal loan to its customers at an interest rate of 9.75 percent. This loan is available for a tenure of five years and can be availed for a loan amount of Rs.5 lakh. The monthly EMI of this loan has been fixed at Rs 10,562.
Punjab National Bank (PNB) is also currently providing personal loan of Rs 5 lakh to its customers at an interest rate of 9.8 per cent in the country. The monthly EMI of this loan will be Rs 10,574 and the loan tenure is also five years.
Emergency Loan: Apply Online in 5 Minutes from Home
Thus, in times of urgent financial need, when it is difficult to find someone willing to lend money, you need not worry anymore. Taking a personal loan from a public sector bank is a suitable solution for such situations. You can use the personal loan for any purpose as per your convenience. You can complete the online process from the comfort of your home in 5 minutes by choosing the online option from the government bank app itself.