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How can a personal loan be helpful during medical emergencies?

By Finserv MARKETS - Apr 23,2020
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Personal Loan Help During Medical Emergencies

A personal loan can be utilized for all kinds of financial requirements. Whether it be financing your wedding expenses, travel expenses, paying your outstanding debts or for medical emergencies. In cases of medical emergencies, you might face financial hardships if you do not have a financial backup for the same. Such emergency situations leave with no choice but to seek help from your family and friends for financial assistance.

To deal with such kinds of situations you can simply apply for a personal loan. The loan amount will ensure that you get funds just when you need them. You do not have to think much about your finances for your expensive medical treatments and focus solely on your or your loved ones well being. Let’s have a look at some ways of how a personal loan can be helpful during medical emergencies.

Get the best treatment at the hospital of your choice

Medical expenses are not easy to handle. You need to ensure you have a good amount of money to pay the hospital bills. Many private hospitals use the latest technology for tests and treatments of patients which turns out to be very costly. Moreover, not everyone can afford treatments of such advanced hospitals. Now with the help of a personal loan, you can take treatments in the best hospitals without compromising on your health.

No collateral required

A personal loan is an unsecured loan. One can avail a personal loan depending on the income and repayment capacity. The borrower is never asked to provide a guarantor or need to pledge collateral or security against the loan. It means that one can get a personal loan online without putting any of the assets at risk. Moreover, your credit rating and creditworthiness determine your eligibility for a loan without collateral. It helps if you have a good relationship with the bank and have a disciplined repayment history and high creditworthiness. All of this will most likely help you in availing a loan on favorable terms. Hence, during a medical emergency, a personal loan is the best way to get the required fund.

Adjustable loan repayment option

When applying for a personal loan the repayment process for the same is quite smooth. Before taking a personal loan check your EMI with a personal loan EMI calculator, this will help you to plan your finances better. A personal loan comes with a flexible tenure of 12 months to 60 months. One can take any of the loan tenures as per the convenience. This makes it quite convenient for borrowers seeking personal loans for medical emergencies.

Quick online processing of a loan

Medical emergencies require quick financial requirements. With an online personal loan at Finserv MARKETS, the loan application process becomes quite smooth and easy. You are not required to visit the lender’s office and apply for a loan in the traditional way. You can simply apply for a loan through an app or website which makes the whole loan process at Finserv MARKETS quite convenient. You can save a lot of time by being with your loved ones in the hospital rather than running around for a loan.

Quick disbursal of the loan amount

During medical emergencies, time becomes as precious as life. Delay in getting the treatment can never be afforded when it comes to a medical emergency. A personal loan can be the easiest and fastest way to get the fund to meet your medical expenses. Personal loans are also called instant loans because the disbursal is quick. Once your documents are thoroughly checked and good to move ahead, the loan gets disbursed within 24 hours and you will have the funds in your account which will ultimately help you to get the treatment for yourself and your dear ones.

To get a loan you can apply for an online personal loan on Finserv MARKETS. The process requires flat three minutes and post-approval, the loan amount will get credited to your bank account within 24 hours. Their hassle-free online application process with minimal documentation of loan makes it an ideal choice for getting a personal loan. You get flexible loan repayment tenure of up to 12 to 60 months. With an EMI calculator, calculate the exact monthly outflow of your EMI amount; this makes your loan repayment much easier.

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Also read step by step procedure for personal loan at Finserv MARKETS

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.” 

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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