Learn how Emergency money helps you, related issues & resolutions.
I can easily use my credit card or take a loan during an emergency. Why do I need Scripbox Emergency Money?
You can use credit cards or take loans to tide over the emergency until you’re able to arrange funds. But they should not be seen as a replacement for setting up an emergency fund. The interest rates charged by banks...
When is the ideal time to withdraw from Scripbox Emergency Money?
Emergency money should be withdrawn only in case of an unforeseen situation when you’re in dire need of money.
What happens after I have used up my emergency corpus?
Make sure you replenish your Scripbox Emergency Money the moment you are able to. Review your monthly expenses periodically and make room when you can.
How is Emergency Money from Scripbox better than an FD or a savings account?
You can always keep your money in a savings a/c but that makes it hard for you to differentiate between your regular inflow/outflow. It’s best to stash your emergency money in a separate instrument, such as an FD or a...
Can I choose a different amount instead of saving for 4 months of my salary?
Currently, the personalised calculator of Scripbox Emergency Money calculates 4 months of your salary. This will be sufficient for approximately 6 months’ expenses. Once you start investing, you can modify your plan based on your needs and convenience.