Medical emergencies never come with a prior notification, they randomly burst into our lives. A sudden accident might lead to unexpected hospital bills and treatment expenses. For these, you need to have an instant funding source.
It is a personal loan solely meant to be utilized in paying hospital bills and medical expenses in times of emergency. These loans allow you to smoothly seek treatment for your loved ones without caring about the budget and expenses. You can get a loan for up to 25 lakhs or more to ensure you can fulfil the medical demands in a time of need.
Personal loans for medical emergencies are easily available in India in current times. Here are some reasons why you should avail of these loans:
Medical loans are meant to help you in times of emergencies. You can easily apply for a loan online or offline without putting any collateral at stake. You can't have any guaranteed collateral to present to your lender on command. Medical loans never ask for such requirements.
In an emergency, time is of utmost importance. Personal loans for medical emergencies can provide you with instant funds by following a few simple steps. If you have a good credit history, it is easier for you to get the required funds quickly.
You will not want to run here and there to gather documents required to apply for the loan when your loved one is in the middle of a medical emergency. These loans have got you covered, as you can apply for a medical loan online with a minimal number of documents.
The repayment of the loan amount is a major element you should keep in mind while taking a loan. Medical loans allow you to choose a repayment term according to your financial stability. These loans provide a loan tenure varying from 12-60 months. You can choose your repayment plan by calculating your EMI per month by entering the loan amount and interest rate.
There are never any specified terms regarding where you can use the loan funds. These days, everyone prefers advanced hospitals to get the best for themselves and their families. But as we all know, more advanced treatments come hand-in-hand with higher prices. Getting an emergency loan in these situations can enable you to smoothly receive medical treatment at any reputed hospital of your choice.
You need to know certain terms related to medical loans before availing any loan service. They are stated below:
There are certain basic criteria that you need to fulfil before applying for a loan: a term loan's payback period at the beginning of the term.
When applying for a medical loan in India, you need to provide some minimal documents to get approved:
You can submit your aadhar card and pan card to get a loan online. However, a voter ID card and driving licence also serve the purpose.
You need to prove that you have a steady source of income to get a medical loan. The salary receipts for the past three consecutive months will do the needful.
These emergency personal loans provide lower interest rates that you can pay without stressing about your financial status.
Loan amount refers to the amount you are lending from the bank or NBFC under any specified loan scheme. Personal loans for medical emergencies allow you to take a loan for a high amount of as much as 50 Lacs. You can easily divide the amount into EMIs using the interest rate and calculate the compensation you need to pay each month to repay the loan.
The period of months or years you choose to repay your loan is called the tenure of that loan. Medical loans provide a wide range of tenure varying from 12-60 months to ensure that you can repay the interest added amount comfortably.
Most loans charge a percentage of the loan amount as the processing fee before providing funds to the lender.
At Rupeezo, you get to choose from the leading financial firms and banks, allowing you to compare the best service suited for yourself.
Minimal documents are required for you to get approval for a loan.
We provide you with the lowest interest rates, starting from 11.99% pa.
The online platform guarantees you the utmost security without any sign of illegal thefts or fraud.
You do not require any collateral to get a personal loan from here.
Our support team is ready to serve you with their expert guidance in case of any queries regarding the loan terms.
Flexible repayment options are offered to you, varying from 3 months - 5 years.
You can apply for a personal loan for emergency medical assistance
at Rupeezo by following these simple steps:
Choose your loan amount.
Make sure you go through the various lenders present at Rupeezo to compare their services.
Provide proper identity and income documents.
Fulfil the eligibility criteria according to your lender.
Choose your preferred repayment plan.
That’s it! You are set to receive the funds for your emergency loan.
Medical loans relieve you and your family in difficult times by providing instant funds in your hands. A basic understanding and following some simple steps can guarantee you a loan plan you are comfortable with.
Want to apply for medical loans at Rupeezo? Visit our official website to avail of services.
Why is a medical emergency loan required for everyone?
Medical loans offer you instant funds of a high amount reaching up to 50 Lacs in times of an emergency. You might not be financially ready to face a medical emergency. The loan helps you ensure smooth medical treatment for yourself or your family.
Can I get a medical emergency loan easily in India?
If you are a salaryman or woman residing in India and 21-60 years old, you can easily get a personal loan for medical emergencies.
Which documents are required for a medical emergency loan?
For receiving a medical loan, you need to provide KYC documents (PAN and address proof) and proof of your employment & income.
How to apply for a medical emergency loan at Rupeezo in India?
You can easily apply for the loan by following some simple steps:
What is the interest rate for medical loans at Rupeezo in India?
Rupeezo provides you with the lowest interest rates starting from 11.99% pa.
How much time does it take to avail of medical loans in India?
You can get approval for your loan instantly within 5 minutes. The funds get transferred to your bank account within 24 hours of the approval.
What are the minimum and maximum amounts I can get in medical loans?
You can get a loan for a wide range of amounts varying from 3,000 rupees to as much as 50 Lacs.
What is the rate of interest for a medical loan?
Interest rates can vary from 10% - high rates up to 35%, depending on the lender. You can get loans at low-interest rates if you have a good credit score.
Is it necessary to provide a medical certificate to get a personal loan for medical emergencies?
No, you don’t have to provide a medical certificate to opt for a personal loan for medical emergencies. Medical loans are specified to ensure you instant funds with minimum procedures.
Will credit score affect my eligibility for a personal loan availed medical loan?
Yes, your credit score will affect your eligibility for personal loans in medical emergencies. A good credit score will ensure low-interest rates in your loan plan. You can also negotiate with your lender to offer favorable interest rates.