March 1, 2021

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Take a Personal Loan to Manage a Medical Emergency

2 min read
Medical Emergency

Medical emergencies represent very difficult times for family members, particularly since they have to jointly deal with the trials and tribulations involved in getting proper medical care for the affected individual while also running around to arrange funds for his/her treatment and smooth recovery. These are harrowing times, particularly when there is a sudden emergency that compels you to spend a large amount of money. In case you do not have sufficient funds, there are often limited avenues for getting the same at short notice.

While borrowing from friends and relatives is a strict no-no, you can consider a personal loan for medical emergency for raising funds. A medical emergency loan will help you get crucial funds in a shorter span of time and these loans are easier to obtain in comparison to other regular loans like home loans and car loans. A medical loan offered by a lender is basically a personal loan that comes with a simpler and faster process which is just what borrowers need in case of a medical emergency.

There are some lenders offering personal loans for medical emergencies. You can borrow as much as you need and are eligible for at really competitive rates of interest. The online application process is quite simple and instant approvals.

The eligibility criteria requires you to be between 25 and 58 years of age. You have to be a salaried professional working at a public/private/multinational company and should be a resident of India based in a city where the company has a presence. The minimum net salary per month depends on the city where you live. There are a few documents that you also have to provide and these include the following:

  • Salary Slips for last 2 months
  • Salary account bank statements for last 3 months
  • Employee ID Card
  • Identity Proof- Voter ID/Passport/PAN Card/Driving License
  • Address Proof- Passport/Ration Card/Driving License/Letter from Employer with Admin/HR signature/Latest Mobile Bill

You can easily calculate the amount that you are eligible for, using the online Personal Loan Eligibility calculator provided for this purpose. You can also use the online EMI calculator to work out the amount that you will have to repay every month. Apply for a personal loan for medical emergencies and ensure the best treatment for your loved one without having to worry about getting enough funds.

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