The Corona epidemic brought a financial crisis for most people for which they were not already prepared. A large number of people lost their jobs in the lockdown and businesses closed down.
How to raise money in a sudden financial crisis is a big question. Today we are telling you some ways through which you can get a loan in an emergency.
Types of emergency loans
Credit card loan
If you have been paying the credit card bill on time and your credit card history is good, then you will get a loan easily based on the credit limit. Some credit card companies can provide you instant loans beyond this limit.
Loan on gold
A loan can also be availed by pledging gold in an emergency. RBI gave a big relief in August this year, according to which a loan equal to 90 percent of the value of the gold jewelry or gold coin you have can be taken. Earlier, loans were available up to 75 percent of the gold value.
Loans on PPF
Another easy option to get a loan is a loan on PPF. The loan is available after completion of three years of PPF account and it is available for a period of six years after the opening of the PPF account. Loans up to a maximum of 25 percent of the amount deposited in the account.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.