Get Instant Online Personal Loan for Medical Emergency
Easy Eligibility | Minimal Paperwork | Instant Approval | Flexible Repayment Tenure
Medical emergencies are unpredictable and can arrive at any time. They can catch you off-guard and cause immense mental and financial distress. Even if you have a health insurance policy, it may seem inadequate in the case of certain life-threatening illnesses. During such situations, quick access to finances becomes the need of the hour.
With Poonawalla Fincorp’s Personal Loan for Medical Emergency, you can avail of unsecured funding of up to Rs. 30 lakh and ensure that money never comes in your way of getting the best medical treatment. Our personal loans come with simple eligibility criteria and minimal documentation so that you can get access to finances very quickly during an emergency.
Why Opt for a Personal Loan for Medical Emergency?
During a medical emergency, you may require sudden financing to tackle the astronomical hospitalisation costs. The treatment of certain life-threatening diseases, such as heart attack, stroke, kidney failure, etc., can cause a burden of several lakhs of rupees which may not be easy to arrange all of a sudden.
In such an unforeseen situation, it’s best to borrow a personal loan for medical emergency instead of depending on your savings. You can utilise a personal loan to pay for various expenses, such as doctor’s fees, hospital room rent, and costs for rehabilitation, medications, diagnostic tests, etc. You can then repay your loan in Equated Monthly Instalments (EMIs) spread over a tenure of your choice.
Features and Benefits
We aim to deliver a seamless and hassle-free borrowing experience to our customers. Our personal loans are easy to avail of, offer instant approval and a high degree of customisation to cater to your specific requirements.
Below are the striking features and benefits of our personal loans for medical emergencies:
- Easy online application
- No collateral/security required
- Instant approval and quick disbursal
- Attractive rate of interest
- Minimal documentation
- Flexible repayment tenure
- No hidden charges
- Doorstep services
We understand the need for quick financing during an emergency, and that is why our personal loans come with very basic eligibility requirements.
Below are the factors that determine our eligibility criteria for personal loans for medical emergencies:
- Your age
- Work Experience
- Monthly Income
- Employer Category
In addition to this, a good CIBIL score enhances your chances of qualifying for an unsecured loan for medical emergency from us.
We ask for minimal paperwork so that you can get access to finances as quickly as possible. Below are the required documents for our personal loan for medical emergency:
- Proof of identity
- Proof of address
- Proof of employment
- Proof of income
Please note that the list mentioned above is indicative. We may require some additional documents during loan processing.
We provide personal loans for medical emergencies to:
- Salaried individuals
- Working professionals such as Chartered Accountants, Doctors, Company Secretaries
- Self-employed persons
Frequently Asked Questions on Medical Emergency Personal Loans
What is a personal loan for medical emergency?
A personal loan for medical emergency is taken to tackle the unforeseen expenses that may arise during a medical contingency. You can avail of this loan and utilise the funds to pay doctor’s fees, nursing charges, medication costs, and hospital bills, among others. Since this loan is a multi-purpose loan, you can also use it to meet your daily living expenses till you’re unable to work.
Is it a good idea to borrow a personal loan for medical emergency?
Of course. You cannot let the lack of money come in your way of getting the best medical treatment during a medical emergency. A personal loan allows you to focus solemnly on your health and keep other worries aside. However, you should borrow it for tackling emergencies and not for making unnecessary spending or high-risk investments.
How much time does it take for the disbursal of a medical emergency loan?
Personal loans for medical emergencies are disbursed as quickly as possible. With Poonawalla Fincorp, you can get instant approval for your loan application and receive the finances in your bank account within 24 to 48 hours. Just make sure that you fill every detail in the application form correctly and submit all required documents.
What are the interest rates and applicable charges for a personal loan for medical emergency?
The applicable charges and interest rates for personal loans for medical emergencies vary across lenders. At Poonawalla Fincorp, we provide personal loans at the most competitive interest rate, starting from just 10.99% per annum. Additionally, a nominal processing fee of 0 to 2% of the loan amount might be applicable.
What are the steps to apply for a personal loan for medical emergency?
You can follow the steps mentioned below to apply for a personal loan for medical emergency:
- Step 1 – Click on “Apply Now” on our website
- Step 2 – Enter your basic details and upload the KYC documents
- Step 3 – Await application assessment
- Step 4 – Receive confirmation of your loan approval
- Step 5 – Get the loan amount in your bank account