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5 Ways a Personal Loan can help you During Medical Emergencies



Medical emergencies call for immediate action and often require finance in an instant. Raising money amidst a tense, unpleasant situation doesn’t have to be taxing, and your savings don’t have to bear the brunt either. You can choose to take a Personal Loan for medical emergency to pay for these expenses instead. Take a look at how a medical loan can help you during an emergency.

Finance all your Needs with Ample Funds

A Medical Loan is a customised Personal Loan tailor-made to suit the urgent nature of medical expenses. Thus, you can get a substantial sanction of up to Rs.25 lakh and finance a host of medical procedures and related expenses. This high amount ensures that you don’t have to take multiple loans or approach friends and family members for an informal loan. However, make it a point to view various lender offerings to ensure that you benefit from the best Personal Loan interest rates.

Get Quick Loan Processing

Personal Loans have quick processing which helps you access funds faster, and cater to your urgent needs in a timely manner. This is courtesy of the efficient online application process. This option helps you apply from anywhere, at any time, by filling a simple form. Additionally, you can choose a NBFCs to get approval on your Personal Loan for Medical Emergency within just 5 minutes, and quick disbursal within 24 hours after document verification.

Apply with Minimal Document Requirements

While you complete paperwork at a clinic or hospital, the last thing you need is to look for files and documents to apply for the loan. So, a medical Loan for emergency gives you complete peace of mind in this regard. Here, you only have to submit a few documents that you are sure to have easy access to. This includes KYC documents, your employee ID card, salary slips of the last two months and bank statements of the last 3 months.

Borrow Flexibly with the Flexi Loan Facility

You may not know exactly how much finance you need when you are faced with a medical emergency. In due course of time, you may need extra funds for additional procedures and post-treatment expenses such as medicines, doctor visits, etc. Medical loan gives you a chance to tackle these unplanned expenses with ease. You can choose Flexi Loan facility which allows you to borrow funds from your total sanction as per your needs, and pay interest only on the amount that you use. In addition to this, you can choose to pay interest-only EMIs and repay the principal at the end of the tenor.

Repay Conveniently with a Tenor of your Choice

Recovery is a crucial aspect and this loan ensures that you can care for yourself, or your loved ones instead of focussing on loan repayment. You can choose a comfortable repayment tenor for your medical loan of 24–60 months. Furthermore, you can plan repayment in advance by using an EMI calculator. You can also check your eligibility for Personal Loan much faster with the help of an eligibility calculator.

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