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9 Advantages of Taking a Personal loan For a Medical Emergency

By Finserv MARKETS - May 16,2019
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9 Advantages of Taking a Personal loan For a Medical Emergency

A medical emergency can strike any time and being ready to deal with this, financially, is important. Although, almost everyone has insurance these days, but often the treatment that we seek is more than our sum assured amount. In such a situation, a medical loan is your best option. Itis an unsecured personal loan, curated to help you to cover the expenses of a medical emergency. Some of the advantages of availing a personal loan for medical emergencies are:

Get treatments at Non-Cashless Hospitals or for Non-Cashless Procedures

A medical loan gives you cash up front. So, if you’re at a hospital that doesn’t entertain cashless payments or are getting a treatment that requires cash, you can fall back on the cash that you have in hand to clear bills.

Quick Approvals

The application process of a medical loan is entirely digital. All you need to do is visit the vendor’s website or mobile application and apply. If you’re considered eligible, your loan gets approved in minutes.

Instant Loan Disbursal

After the approval of the loan application, the money is disbursed into your account within 24 hours. This ensures that there is no lag in treatment because of unavailability of cash.

Loan for Any Type of Ailment

The lender will never ask you the reason for your medical loan. You can use it for a surgery, basic treatment or even dental procedures. All you need to know is the amount required for the treatment and the amount you are eligible for.

Treatment at the Hospital of Your Choice

You may want to get yourself or your loved one treated at a particular hospital. But your insurance provider doesn’t have that hospital listed in you plan. In that case, a medical loan is a life saviour as with the cash in hand you can get the treatment from anywhere.

Flexible Tenure Options

Medical Loans have flexible tenure options. The repayment period ranges from 12 to 60 months and can be extended if the need arises.

Prepayment Charges

If you wish to close the loan before the tenure. There is a minimum fee for the foreclosure without any hidden charges.

No Need for any Collateral

Mostly all loans need collaterals but not medical loans. Medicals loans are approved without the need of any asset being pledged to the vendor and is approved based on the borrower’s credit score.

Minimal Documentation

Applying for a personal medical loan does not require much paper-work. All you have to submit are your KYC documents. If your credit history and income flow are in order, the loan gets approved and disbursed in no time.

Looking for emergency medical fund for treatment? Visit us at Finserv MARKETS and benefit from the features like quick disbursement, low EMI, minimal documentation and a list of other features. What’s more? Your online personal loan application can be approved under just 3 minutes and the loan amount will be credited to your bank account within 24 hours! Apply for Bajaj Finserv Personal Loan at Finserv MARKETS, today!

Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522