Emergencies are unforeseen by nature and one cannot be sure of being able to handle them successfully every time. There may be different types of emergencies that may arise in your life, and among all, medical emergencies are the most challenging ones. They usually arise at lightning speeds, and can strike anyone and at any time.
Ideally, everyone must stay prepared for an emergency with medical insurance or emergency funds. But unfortunately, lack of sufficient coverage and inability to save enough often leave you short of funds to meet unexpected hospital expenses. During such a tough time, a personal loan for medical emergencies is something you can always depend upon.
You can use a medical emergency loan not only to pay your medical bills, but also for equipment, rehabilitation, therapy, and other related expenses. Apart from these, there are lots of other benefits you can get. Here, we decode the A to Z of taking a personal loan for a medical emergency.
Personal loans are unsecured loans, against which the lender does not ask for any security or collateral. You can avail this type of loan based on your age, income, and repayment capacity.
When you are facing a medical emergency, it’s difficult for you to visit a lender’s office and get the loan granted with collateral. You neither have time to do that nor you have the mindset for it. Hence, a personal loan can be an ideal way to secure funds during a medical emergency.
Freedom for Treatment at Your Preferred Hospital
Medical expenses are skyrocketing and hospital bills have become a big concern for the average earning people of India. Medical insurance companies give you a list of hospitals that accept their claims. This means you have limited hospitals where you can go to seek treatment. The lists may or may not contain the hospital of your choice. Some hospitals may not have the advanced equipment you want, or some may not have a vacant bed or room.
But with a personal loan for medical emergency, you can go to any hospital when the time calls. A lender does not have any restrictions upon which hospital you can go to.
Approval and Disbursal Process
During a medical emergency, every single minute becomes as valuable as life. You cannot afford delay in treatment at any cost. Therefore, at such times, a personal loan can be the fastest and easiest way to fund your medical expenses.
Fast loan disbursal is made possible only with the instant approval of your loan application. Once you provide your phone number, you have to enter your details and get your documents verified. Also named instant loans, they are extremely fast in loan amount disbursal. All you need to do is to click on the Apply Now button, complete the application form and if you meet our eligibility criteria, you will be presented with the loan offer.
Availing a personal loan for medical emergency can be the easiest financial option, as the complete process of the loan application, approval, and disbursal is done online. There is no need to visit your lender’s office throughout the entire process. As a result, you save a lot of time and effort that you can invest in getting the best treatment for you or your loved one. The streamlined procedure of medical emergency loan allows you to stay near the ones you care for.
Flexible Options for Loan Repayment
You can avail of a personal loan of up to ₹ 25 lakhs for a period of 12 to 48 months. Check your EMI with a personal loan EMI calculator and plan your budget in a better way. You can choose a tenure as per your convenience, income, and repayment capacity.
Longer loan terms will keep your EMI amount lower but keep you locked for a long time and increase your interest amount too. Smaller loan term allows you to get rid of your debt within a few months, but the EMI amount may be higher and you may find it difficult to incorporate them in your monthly budget. So, it depends on your personal choice how you want to repay your loan.
Before you apply for a personal loan for medical emergency, you have to meet certain eligibility criteria. For instance, if you apply for a personal loan with Clix Capital, you have to fulfil the below eligibility conditions
- 25 to 58 years of age
- Indian citizenship
- A monthly salary of at least ₹ 25,000
- Employment in the current company for a minimum of 6 months, and total work experience of at least 12 months
Here are a few documents that Clix Capital needs to verify:
- Duly filled online application form
- Recent passport size photograph (can be completed with a live pic as you complete your application)
- Identity proof like Aadhaar card or Pan card, or government ID for government employees
- Address proof like Aadhaar card, voter ID, passport, driving license, etc.
Income proof, including your last month’s payslip or current year’s Form 16
If you apply for a personal loan online, you do not need to submit any papers as hard copy. There is no need to upload either. You can get them verified online, which hardly takes more than a few minutes. The online documentation process is not only time-saving but convenient as well while you are occupied in a hospital.
A medical emergency can hit anyone at any time. Considering life’s uncertainties, a personal loan for medical emergency can be a life saver during unfortunate times. So, if you are facing a medical emergency and looking for funds to get the best treatment, a personal loan for medical emergency from Clix Capital can be your best bet. For this, you have to apply here and share your details. It’s as easy as that!
You can also reach out to us at firstname.lastname@example.org or call us at 1800 200 9898