Personal Loan for Medical Emergencies: Boon or Bane?
Though medical emergencies happen rarely but when they do, they are always unexpected and catch you off guard. Such unforeseen medical situations come with an urgent need for funds for items like medical bills, expenses for hospitalization, care at home after discharge from the hospital, and to cover for the loss of pay during recovery period.
In order to meet such emergent financial needs, either one has to break open their savings, turn to borrow from someone or may apply for a personal loan for medical emergencies. Withdrawing savings and investments before maturity leads to a loss of income and savings at hand sometimes aren’t adequate enough to meet the required expenses.
A personal loan for medical emergency is your best call when it comes to dealing with exigencies that need both your funds and attention. Personal loans are unsecured loans that are easy to apply for, are sanctioned quickly and offer funds up to 25 lacs. When you’re relieved because you’ve adequate funds from the personal loan, you’re in a better shape to handle medical emergencies quickly and conveniently.
Here are some reasons why taking a personal loan for medical emergencies is the best option:
Reasons to Apply for Personal Loan for Medical Emergencies
You receive the funds quickly
Medical emergencies don’t really allow much time to anyone to think and decide about the finances. When such emergencies strike, the first thought worrying an individual, apart from the heath, is about the finances to take care of the bills.
Here, a personal loan for medical emergencies can help. You can apply for an instant personal loan online in a few easy steps here. Once you punch in a few basic details, you get a personal loan approval (based on your credit profile) almost instantly and funds are disbursed to your bank account in less than 15 minutes*. Getting the funds instantly can act as a much-needed relief for those tackling medical emergencies.
They are practical, stress-free & hassle-free
When someone is dealing with a health crisis, the last thing on earth they would want is the added stress of paperwork to access additional funds. Personal loan for medical emergencies is the best option to go for as it is completely hassle free, involves minimal documentation, and is completely digitized for your convenience. You just need to submit a few basic documents to apply for a personal loan. If everything looks good on your credit profile, your loan application is instantly approved and the funds are quickly disbursed to your bank account.
You can repay in easy EMIs (flexible repayment tenor options)
When a medical emergency comes knocking unannounced, it leaves you concerned over the mounting costs it brings. Opting for a personal loan for medical emergencies takes that trouble away in moments. Once you apply for a loan, you can choose from the flexible repayment tenor options available that align with your budgets.
Go for the one that suits your monthly budget, income, and expenses so that the repayments are hassle-free for you. When you apply for a personal loan from us, you can choose from a tenor ranging from 12 to 48 months. this will help you organize and plan your finances in a better manner over the given duration.
They have an edge over traditional health insurance plans
A traditional health insurance plan only covers the expenses incurred during hospitalization and a few days post discharge. There are several terms and conditions to the cashless approval that leads to deductions that are to be borne by the patient. Apart from that, medical and rehabilitation expenses incurred at home post discharge, loss of pay, and certain medical items aren’t covered by a health insurance plan.
Here, the option to avail an instant personal loan for medical emergencies can enable you to manage all the given expenses recovery.
No collateral required
Since it is an unsecured loan, you need not worry about offering a collateral or arranging a guarantor to apply for a personal loan for medical emergencies. This is one of the most important benefits of personal loan and comes in handy when one is dealing with a medical crisis already.
Personal loan for medical emergencies can be your best bet during a health crisis when you’re looking for dependable source of funds to shoulder the expenses.
Feel free to write to us at firstname.lastname@example.org or call us on 1800-200-9898 for any queries.