Solve problems as they arise

What Is An Emergency Loan?

Life is unpredictable, and sometimes expenses can arise when you least expect them. Whether it’s a medical emergency, car repairs, or a sudden home repair, these situations often require immediate financial assistance. An emergency loan can be a quick solution to get the funds you need, fast.

You can apply online for a personal loan from Rapid Loans to help fund your emergency situation quickly. We know time is of the essence, and our team is dedicated to providing you with personalised service so you always know what stage your application is at. If your application meets every step, you could have your funds disbursed the same business day.

What Do I Need To Know Before Applying for An Emergency Loan?

Before applying for an emergency loan, there are a few key factors to consider:

Repayment Terms

While you may need the loan immediately, it’s important to know you’ve reviewed your financial situation and can comfortably pay it back. Rapid Loans offers flexible repayment terms on a weekly, fortnightly or monthly basis to suit your lifestyle and pay cycles.

Credit Score

While it may seem like a good idea to apply for an emergency loan with several companies at once, having too many credit enquiries from loan applications can negatively impact your credit score and may in fact work against you. If you have a poor credit score, you may still be able to qualify for an emergency loan, but you may face higher interest rates or stricter terms.

Documentation

Be prepared to provide documentation to support your loan application, such as proof of income, identification, and banking details. Having these documents ready can help streamline the application process and keeps things moving quickly.

How Much Can I Borrow for An Emergency Loan?

The amount you can borrow for an emergency loan will depend on various factors, including your income, credit score, and the lender’s policies. At Rapid Loans, we offer emergency loans ranging from $2,001 to $55,000, allowing approved borrowers to access the funds they need to cover their urgent expenses.

Applying online is a simple process, which can be broken down into three key steps:

1. Fill out our online application form
2. Upload your supporting documents securely
3. One of our consultants will be in touch, usually within a few business hours.

We know applying for finance for an emergency situation can be stressful, so we make customer service a top priority.

The Cost of Emergency Loans

Emergency loans are designed to provide quick access to funds for urgent needs, but they can sometimes come with higher interest rates and fees. At Rapid Loans, our emergency loans come with competitive interest rates and transparent fees, ensuring that borrowers can access the funds they need without any surprises.

Fees on Emergency Loans

When applying for an emergency loan, it’s essential to be aware of any fees associated with the loan. Common fees on emergency loans may include:

• Establishment Fee: Charged when the loan is initially set up.
• Monthly Account Keeping Fee: Charged to maintain the loan account.
• Late Payment Fee: Charged for missed or late payments.

At Rapid Loans, we believe in upfront communication and strive to minimise fees wherever possible, ensuring that our borrowers can access the funds they need quickly and efficiently. We do not charge any early payout fees, so borrowers can make additional payments or clear their loan balance at any time with no early payout charges.

Trust Rapid Loans to Assist With An Emergency Loan

When faced with an unexpected expense, you need a lender you can trust to provide fast and reliable financial assistance. At Rapid Loans, we understand the importance of addressing urgent financial needs promptly, which is why we offer emergency loans with flexible terms, competitive rates, and fast processing times.

Our experienced team is dedicated to providing prompt and friendly service and support to help you navigate the loan process with ease.

Don’t let unexpected expenses derail your financial stability. Trust Rapid Loans to provide the assistance you need, when you need it most. Apply for an emergency loan today and take the first step toward peace of mind.